http://www.youtube.com/watch?v=c8ctkgUieRg The structural solutions that are required are 5- 10 years down the road. He is in such a panic!
He should be. US Dollar devaluation only accelerates in the year or two ahead with no real end until it gets nasty.
There is a major difference to "this time" with US Dollar situation. In the past 6 months there has been a "new trend" in large international oil import deals without US Dollars. That alone changes the game as the US Dollar is now losing the "demand" side action. As more countries move away from US Dollars to transact their oil imports, the demand side for US dollar keeps heading lower. If US Dollar loses world reserve currency status everyone with US Dollars in their pockets get a dramatic very short term devaluation hit. Can anyone tell me what the historical record is of a country with trillions in debt, addicted to central bank debt, and losing world reserve currency status for their monopoly money? Common sense screams out this does not end well.
well,as long as you are nominating threads, that was probably "The Least Retarded" in a while the funny thing about emg is, he can really get to you and inspires a lot of responses there's something to be said for consistency If he would just switch from his unproductive enfatuation of someday making money as a trader, and devote his life to selling (which is where he is going to end up after he takes the "Edward Jones Higher Education Course") I think he will make a sale.
you're a little late to the party there Daring, they've been calling for the end of everything since the "Book of Revelations" and now some say the Mayans even beat them at that. Not sure it is the "The Oldest Profession" but it ranks right up there.
yeah, me too, after a very good move, I quit trading gold and now (after listening to Rickards well thought out chart on the gold adjusted S&P) just simply keep 10 to 20% of my stock portfolio in GLD. I'll ride it up and ride it back down. And I'll do the same with bonds I am using for income. I have plenty of risk in other places, namely forex.
if you didn't know it was a joke, I have grave doubts about you, the Queen and Great Britain, not to mention the Goddamned British Pound. If you actually went to an American school (before Orwell invented the Department of Education) you could have read the HUGE disclaimer, that it was SATIRE (I think that was something invented by Europeans) but what I couldn't understand was, If the Fed wants to make money, why don't they just short the dollar?
modern monetary theory states that we can create as much money as we need, the only constraint being inflation
yes, the question is, what to short it against? And what is your time frame? And can you as Keynes warned "Stay solvent longer than the markets can stay irrational"" actually the real quote is, "The markets can stay irrational longer than you can stay solvent."