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John Williams/Times That Try Men's Souls
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John Williams/Times That Try Men's Souls
by deMolay » Sat 07 Aug 2010, 09:33:14
A little breakfast time economic DOOM, without the sugar. http://www.theenergyreport.com/pub/na/7005
"We Are All Travellers, From The Sweet Grass To The Packing House, From Birth To Death, We Wander Between The Two Eternities". An Old Cowboy.
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deMolay - Intermediate Crude
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Re: John Williams/Times That Try Men's Souls
by Pops » Sat 07 Aug 2010, 13:08:30
I knew I shouldn't click on this.
But here is my question, Say I hold a billion US dollars and me and lots of other people get worried about Uncle Sugar's creditworthiness, who am I and my bros down at the club going to sell to, and what are they going to pay me with?
IOW, for the big guys, what good option is there in a mass move away from the US dollar? Rupees? Yen? Oil futures? If they all bid up oil for example, aren't they screwing themselves just as bad since their now overpriced oil will never sell due to the collapse of the economy?
But here is my question, Say I hold a billion US dollars and me and lots of other people get worried about Uncle Sugar's creditworthiness, who am I and my bros down at the club going to sell to, and what are they going to pay me with?
IOW, for the big guys, what good option is there in a mass move away from the US dollar? Rupees? Yen? Oil futures? If they all bid up oil for example, aren't they screwing themselves just as bad since their now overpriced oil will never sell due to the collapse of the economy?
The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves -- in their separate, and individual capacities.
-- Abraham Lincoln, Fragment on Government (July 1, 1854)
-- Abraham Lincoln, Fragment on Government (July 1, 1854)
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Pops - Elite
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Re: John Williams/Times That Try Men's Souls
by Tanada » Sat 07 Aug 2010, 13:50:55
$this->bbcode_second_pass_quote('Pops', 'I') knew I shouldn't click on this.
But here is my question, Say I hold a billion US dollars and me and lots of other people get worried about Uncle Sugar's creditworthiness, who am I and my bros down at the club going to sell to, and what are they going to pay me with?
IOW, for the big guys, what good option is there in a mass move away from the US dollar? Rupees? Yen? Oil futures? If they all bid up oil for example, aren't they screwing themselves just as bad since their now overpriced oil will never sell due to the collapse of the economy?
But here is my question, Say I hold a billion US dollars and me and lots of other people get worried about Uncle Sugar's creditworthiness, who am I and my bros down at the club going to sell to, and what are they going to pay me with?
IOW, for the big guys, what good option is there in a mass move away from the US dollar? Rupees? Yen? Oil futures? If they all bid up oil for example, aren't they screwing themselves just as bad since their now overpriced oil will never sell due to the collapse of the economy?
People in those circles do not sit on cash Pops, they own mining companies, petroleum companies, manufacturing plants in many different countries and so on and so forth. Truly wealthy people don't hold cash, that is far to risky for exactly the reason you ask, any fiat currency can collapse via government fiat or poor management. Both have already happened countless times to different currencies.
$this->bbcode_second_pass_quote('Alfred Tennyson', 'W')e are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
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Re: John Williams/Times That Try Men's Souls
by deMolay » Sat 07 Aug 2010, 14:16:20
Pretty good reply Tanada. Pops, this is the reason that China has been converting US Treasuries into hard assets, like buying up physical gold, buying and leasing millions of acres of farmland in South America and Africa. Buying into Alberta's oilsands in a big way, Sasketchewans huge Potash mines etc. They are exchanging fiat money for commodities that they need now or in the future. On a more personal level. Many of the real wealthy folk, convert to things like diamonds and other precious stones that are highly portable, or they buy islands, farmland etc. Me I buy tools, seed, food for storage, medicine etc. Trade goods.
"We Are All Travellers, From The Sweet Grass To The Packing House, From Birth To Death, We Wander Between The Two Eternities". An Old Cowboy.
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deMolay - Intermediate Crude
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