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A Man of Wealth and Taste
 
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Obama The Genius

Obama for all his Citizen of the World rhetoric has just slipped the big Chulpha to the world and anyone in it who is holding USD bills, USD denominated Bonds, CD's Bank Accounts, Mortgages and such...

Anybody in the above category let me clue you, you have just been fked...as the USD is SINKING faster than the Titanic....YOU ARE GETTING POORER BY THE MINUTE

Every currency in the world is getting stronger against the USD and Gold just hit another all time high up apx $10 an OZZZ to $1386.

Here is the deal...the US Treasury is selling its debt obligations meanwhile the value of those debt obligations is sinking cause they are in USD denominations...so everyone who is buying Treasuries is losing money from the git go and they ain't even gittin a reach around in the form of a decent interest rate.

So this is how they are going to pay off the debt, by making the value of the USD worthless you are repaying that debt in worthless pieces of paper.

This morning the Euro hit 1.40 to the USD up fro about 1.20 in the Spring, however the Euro has remained stable for months at 114 to the Yen..So it is the USD that is slipping and not the Euro getting stronger..


I have told people for years that Americans never appreciated the risk they were taking by holding USD's as the currency floats on the world markets on a daily basis. Americans have gotten used to the USD being the rock of Gibraltar..well now they are going to see what Mexico, Brazil and Argentina know about currency debasement.

Believe me the Central Banks of the world are NOT Happy with the US going to QE2....cause all those USD's that they have in warehouses to pay for oil purchases have just became a bit closer to being toilette paper..

And I love the game...The US Treasury is selling debt and the Federal Reserve is buying it by printing money...sooner or later the paper money has no intrinsic value left in it...and the debt instrument itself will be valueless because the instrument is paid back in USD's...So th epeople who are being stripped of their welth are those who are holding the above stated USD dominated asset classes.Now does one see why Gold is becoming so popular these days as most of the major currencys have at least some debt problems similar to the US.

Ohh BTW did I mention that the other group of people who just took a swallow and no its not a Pina Colda that your tasting...but WAGE EARNERS...your wages are going to have to rise comesurate with the fall in the USD to keep pace. Otherwise your time, effort and labour just go itself devalued because you ar ebeing paid the same wages in a devalued currency...Whooops Obama and the Fed didn't tell U that now did they...
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Old 10-14-2010, 02:42 AM
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Old 10-14-2010, 07:27 AM
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wait wait, I thought U said the Euro would tank, due to Spain Italy... or was that someone else?

Anyway, at the risk of defending team bambam, I will point out that moderate inflation is what keeps this machine humming. ...it's what people expect, and lends perspective to TVM (time value of money). Furthermore, this deflationary time, which we've been in, is only good for the Chinese and other debt holders (as you rightly point out). But ... for most everyone else --those carrying debt-- they DO plan on an ever inflating USD ...actually it's not just the USD which inflates; most other currencies inflate as well.

Of Course those who hold USD (which has gained more purchase power -deflating- over the last couple of years) will moan about (late-coming) change in valuation. And they will look to other markers (gold, et al) but the big Q is; how much inflation IS ACTUALLY coming, and when?
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Old 10-14-2010, 09:52 AM
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wait wait, I thought U said the Euro would tank, due to Spain Italy... or was that someone else?

Anyway, at the risk of defending team bambam, I will point out that moderate inflation is what keeps this machine humming. ...it's what people expect, and lends perspective to TVM (time value of money). Furthermore, this deflationary time, which we've been in, is only good for the Chinese and other debt holders (as you rightly point out). But ... for most everyone else --those carrying debt-- they DO plan on an ever inflating USD ...actually it's not just the USD which inflates; most other currencies inflate as well.

Of Course those who hold USD (which has gained more purchase power -deflating- over the last couple of years) will moan about (late-coming) change in valuation. And they will look to other markers (gold, et al) but the big Q is; how much inflation IS ACTUALLY coming, and when?
I could very well have said the Euro was going to collapse..I know they were predicting 1.15 and eventually 1.00 on Euro to the USD. But the Euro as pointed out has not gained strength vs other currencies but the USD has declined...the moment of USD strength was an On The Beach Mentality...


The role of the Central Bank is to moderate either deflationary or inflationary swings. Both have to be kept in check and in a perfect world neutral stasis is desired. The time value of money function does not really bear on the inflation issue but more to the depreciation of a capital good over time...such as a milling machine. And let us not forget that money has to work for you...it has to produce more money or a good for you.

U have only gotten used to having inflation over the last 40 years...so it seems normal and desirable. This is one of the mind set thingys I have been talking about Americans having and not being able to see the anything else.

The price of Gold from the 1850's through the 1930's was roughly $20 an ozzz...very stable indeed. FDR bumped th eprice to $35 an OZ while calling it all in and outlawing its poession. Which was reversed in 1972 by Nixon when he pulled th e USD off the Gold Standard and let the USD float on the world market...The USd at that time became the Reserve Currency in which Oil was traded in ...we cut a deal with the Saudis.
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Old 10-14-2010, 10:59 AM
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Thanks tabs. Let me clarify a few things. I haven't "gotten used to having inflation over the last 40 years." ...in fact, I'm in a position where deflation helps me. But, I also see that the norm has been moderate (moderated?) inflation. ...it helps keep the velocity of money up. (else, people sit on it)

On gold. I knew a guy who made mining equipment... The short of it is, the high the price of gold . . . the more of it that gets pulled from the ground. ...which begs the Q: are we better off, as a nation, putting more and more resources into digging for a non-energy shine blob?

Comparing the USD to gold is just a distraction, IMO.
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Old 10-14-2010, 11:32 AM
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Quote:
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Thanks tabs. Let me clarify a few things. I haven't "gotten used to having inflation over the last 40 years." ...in fact, I'm in a position where deflation helps me. But, I also see that the norm has been moderate (moderated?) inflation. ...it helps keep the velocity of money up. (else, people sit on it)

On gold. I knew a guy who made mining equipment... The short of it is, the high the price of gold . . . the more of it that gets pulled from the ground. ...which begs the Q: are we better off, as a nation, putting more and more resources into digging for a non-energy shine blob?

Comparing the USD to gold is just a distraction, IMO.
Whether or not U are helped or hindered by inflation or deflation is irrelevant. the fact is that your words belie your attitude and mentality towards the good of inflation. Which is the mindset that we have been conditioned to accept over the last 40 years as being a norm.

It has been stated this week that Gold is becoming the new de facto reserve currency in the world. As such it is merely a stable medium of exchange. which is a role it has played over the millenium
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Old 10-14-2010, 12:11 PM
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I thought salt was de facto reserve currency in the world, who can live without salt?
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Old 10-14-2010, 12:24 PM
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cgarr trumps tabs.

Gold?!? . . a stable medium of exchange!?!

Stable mediums don't triple (or 4x) in value in just a few years.

I expect that Oreo cookies and cruise-missiles have had a more stable price than gold.


...same for salt.
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Old 10-14-2010, 02:00 PM
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problem is with salt, you can make it every day, gold is a little tougher.
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Old 10-14-2010, 07:37 PM
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cgarr trumps tabs.

Gold?!? . . a stable medium of exchange!?!

Stable mediums don't triple (or 4x) in value in just a few years.

I expect that Oreo cookies and cruise-missiles have had a more stable price than gold.


...same for salt.
U really don't get it...the value of the USD is what is unstable as it costs more of them to purchase an oz of the material. The value of the USD is what is going down.

When I was a kid a gallon of High Test Gasoline cost 29 cents..NOW?

Gold since the dawn of civilizaton Gold has been recognized as a medium of exchange, a medium of portable wealth
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Old 10-14-2010, 11:31 PM
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U really don't get it...the value of the USD is what is unstable as it costs more of them to purchase an oz of the material. The value of the USD is what is going down. ...
OH Really ?

So then, if the USD is what is unstable, we can also conclude that it takes a LOT MORE USD to buy a chunk of land in Nevada. ...or California (where the streets are paved with gold. ...and marijuana) than it did three years ago.

Seriously, gold gets pulled out of the ground. Whereas land isn't. (Hawaii aside)

Let me put it to you this way... Do you really believe that all of the heavy advertising spots to "buy gold now" (ad's presumably PAID FOR by those who have a LOT of gold) are because the big gold owners/miners believe gold should be distributed? ...that they don't want to be holding all that gold when the USD 'collapses'?

To say that it is the instability of the USD that is causing the price of gold to be high completely misses the reality of the situation. The price of gold is WAY up wrt all currencies. The boomers are buying the stuff in mass. It's the -in- thing to do. ...people parrot stuff like "Gold since the dawn of civilizaton Gold has been recognized as a medium of exchange, a medium of portable wealth"

....yeah? ... so was salt.
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Old 10-15-2010, 08:21 AM
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Gold is really a pretty stupid commodity to invest in if you're trying to hedge against a USD collapse.

Personally I recommend brass and lead. With enough of those metals you can go get all the gold you need or want.
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Old 10-15-2010, 09:44 AM
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I do not care what todays flavor of the week is..Gold remains a non perishable commodity that has transcended civilization and time as a medium of exchange..

There are times when people bid Gold or Silver up, and that is when the perceived perception is that their govt paper is in danger of becoming toilette paper. People want to go back to the tried and true.

The USA until the CW did not even have a national paper currency, and it was backed by GOLD AND SILVER. The USD was backed and so stated on the bill to be backed by SILVER until the 1970's. FDR took the backed by Gold off the Bills during the 1930's. As well as calling in all the GOLD coinage, which forced people to rely on the paper..which is backed by THE FULL FAITH OF THE US GOVERNMENT..and people are now questioning that full faith. statement.
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Old 10-15-2010, 10:42 AM
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Salt is a non perishable commodity
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Old 10-15-2010, 11:04 AM
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ya know tabs, the French are freaking-out and whining about the retirement age being moved from 60 to 62. Meanwhile US investors are freaking-out because US inflation projections have moved from 1.90% to just over 2%.

Sooo... is the immediate horizon USD "toilet paper" or is this all just more whining from those who want to spin the situation to maximize the situation?
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Old 10-15-2010, 11:39 AM
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Qe2.= $1,000,000,000,000 usd

2010 US deficit = 1,290,000,000,000.00 USD

2011 US deficit = 1,400,000,000,000.00 USD
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Old 10-15-2010, 12:31 PM
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Oil is the true international commodity.
And there is a reason it's up to $82 bbl instead of the $30/bbl it should be worth, because the dollar is worth less than it used to be worth.

Every time the morons devalue our dollar, every time they spend money they don't have, every time they borrow money from the Chinese, your gasoline bill goes up and you basically take a cut in pay.
Old 10-16-2010, 07:01 AM
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Oil is the true international commodity.
And there is a reason it's up to $82 bbl instead of the $30/bbl it should be worth, because the dollar is worth less than it used to be worth.

Every time the morons devalue our dollar, every time they spend money they don't have, every time they borrow money from the Chinese, your gasoline bill goes up and you basically take a cut in pay.
And end up in a higher tax bracket.
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Old 10-16-2010, 03:20 PM
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