The latest from Greensenile: Nov. 18 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said the dollar's decline hasn't affected the global economy and is a ``market phenomenon.'' ``So long as the dollar weakness does not create inflation, which is a major concern around the globe for everyone who watches the exchange rate, then I think it's a market phenomenon, which aside from those who travel the world, has no real fundamental economic consequences,'' he said today. I would love to know which planet he is speaking from. Of course if you don't travel the world there is no efffect so probably even less effect in whatever galaxy Greensenile resides in now. The scary part is that there are people who accept this. America's dumbing of the masses has reached scary levels.
If this doesn't scare you, your just plain ignorant. The article is in last weeks New Scientist, about China and their technology. They make the US look like a halfway house. http://www.newscientist.com/contents/issue/2629.html
Fiat Fiat Fiat Price determined by a futures market which is 90% speculation and whose size is at least 10 times if not 100 times over the actualy physical bullion supply mostly controled by central banks. Future bullion supply is controlled by a small number of miners. It's a possible alternative, even though any bullion you have will be confiscated if a financial crisis ever hits. It's one thing to trade the currencies, it's another to expect any safeguard from a basket of fiats. Can the dollar devalue more? Sure, why not, just look at the history of the British pound which lost 75% of its value in the second half of 19th century. Yet Britain is still the center of financial power. All these currencies are the same piece of paper, just with different color schemes. As all you guys pile onto the next "strong" fiat currency, what's really to stop it from going the other way? Debt/GDP stats? Perceived economic power of the next emerging nation getting the offshored jobs? I'm not even gonna say what I really think, but hopefully you get the gist of my point.
Ok, now we have some substance. Someone with views. Confiscation of gold must mean we live in a free country, but if you would like to bypass the risk look up perth mint in western australia which has special laws to protect assets invested with their mint. You buy the certificate and they store it. All of the fiat currenices discussed should do well against a depreciating dollar since they are all paired for exchange. You may find this funny but I like the Chilean Peso which is near worthless but appreciating and it is all that matters. the cad and eur offer no more growth and are over extended. I feel the same for gbp, nzd, aud. But most of these economies are backed by hard currencies as most of their produce is in commodities. So dollar down all of these go up. Its funny you name Britain, it is where we get our new policies from. I think its called "churn and burn". In a financial crises all fiat currencies are doomed so you are spot on there, but never good to keep all of your eggs in one basket. Please, I would love to hear what else you have to say. p
You are approaching the situation as a trader, which is perfectly fine. Jim Rogers claims to take a long term view, which is laughable considering the USD is getting ready for an Amero transition. The best is that he calls Bernarke an idiot, as if the guy even makes any decisions. Australian policy is based on a CENTRAL BANK. Same as here. Same games, same printing of money. USA has a mint also. Britain's financial policy was instilled in USA in 1913. Learn your history. If you are smart, you will stop playing the fiat Forex game being fed to you and invest in REAL assets. Assets that truly matter. It's amazing just how many of those are overlooked and not considered as investments. But hey, that's how conditioning of the human mind works.
So if a melt down happens they will take your gold but they (whoever they are) won't take your REAL assets(if your scenario plays out it really won't matter what assets you have beyond a gun and plenty of ammo)? Given your views I hope your bunker is well stocked. Just make sure the cans of spam have a very long expiration date as it could be a while
1913 is still quite new my friend. I know all about it. I know bernanke does not make decisions and is just a puppet paid to give his "enlightened analysis" and throw off congress and everyone else who has a problem with the feds monetary policies. I cant believe you said Amero. Is that it huh? One world govt in the making. The demise of the constitution and everything everyone has worked so hard to create, freedom. As if we had ever experienced freedom to begin with. In your opinion what are real assets: guns? bombs? you said something along these lines but please elaborate. p
Yeah, a cave is what I propose, you got me. Actually, I prefer sardines to SPAM. The statutes on gold ownership are quite clear. It has been confiscated before and it just happened recently with Liberty dollar. You know what, figure it out for yourself. I think outside the box, while you guys can only think of Euro vs Dollar, Gold vs Dollar and Cave/Bunker stocked with food.
You trying to mock me, it's ok since that is a fun game at times. Look, I'll leave it on this note, even from a trading perspective, shorting the USD is a crowded trade. From a fundamental viewpoint, there is little difference between the USD & Euro, USD vs Yen, USD vs Pound, etc. Come on, Japan is printing money hand over fist, lending at 0%. Europe's economic situation is far from peachy, U.K. has the same lending subprime mess as USA, actually even worse.