[skiwi]

Best Quotes of October 2006

All ya favorites and more in one place

[Euric]

It seems the big news of the day is China's plan to diversify heavily out of dollars.

http://today.reuters.com/news/articlein ... -FOREX.xml


China's Central bank president is in Frankfurt and has made it clear that over the next few years China will continue to diversify its dollar reserves into other currencies.

[Euric]

$this->bbcode_second_pass_quote('MrBill', '')$this->bbcode_second_pass_quote('gego', 'I')f the US dollar is in trouble, then the British Pound, Austrailian Dollar, South African Rand and Canadian Dollar in even bigger trouble over the next two years. I think that only the Swiss Franc and the Japanese Yen will do better than the dollar during this time frame.

Of course all measured against gold and silver should do poorly.

Just my take on it.

[Revi]

I just happened to pick up a copy of The Economist and thumbed to the dollar index in the back. The past few years it has said that the dollar was losing around 20% a year. This time I was shocked to see that it has lost over 37%. Something is going wrong. There is no investment apart from precious metals that can keep up with 37%. Basically that told me that anyone who holds on to dollars is losing at least 30% per year, over the past year, and that's assuming you can find an investment that'll give you 7% interest. Much better to turn dollars into solar panels, silver or something. it can't keep going down like this can it?

[NTBKtrader]

$this->bbcode_second_pass_quote('Revi', 'I') just happened to pick up a copy of The Economist and thumbed to the dollar index in the back. The past few years it has said that the dollar was losing around 20% a year. This time I was shocked to see that it has lost over 37%. Something is going wrong. There is no investment apart from precious metals that can keep up with 37%. Basically that told me that anyone who holds on to dollars is losing at least 30% per year, over the past year, and that's assuming you can find an investment that'll give you 7% interest. Much better to turn dollars into solar panels, silver or something. it can't keep going down like this can it?

[mattduke]

$this->bbcode_second_pass_quote('Revi', 'I')t can't keep going down like this can it?

[Revi]

Great! The dollar seems like it may be on it's way down, but I think it'll take a while. I hope. Everybody is realizing that their money doesn't go as far as it used to. They will either tighten up or go bankrupt. Either way is bad for economic activity. I figure I am going to spend all my dollars within walking distance of my house if I can from now on. I think it's time to encourage the economy only within a small distance. We'll buy food at the farmer's market and our clothes within walking distance if possible. We won't be able to get all our needs met, but we'll be able to do a lot.

[evilgenius]

It might be advisable to build good will within your community. Buy your mechanic a six pack next time he does something to your car etc. Watch out for the meth addicts.

Along with gold and silver, stocks and physical holdings, I think oil holdings that don't have a questionable reserve problem. Also, any financial institution involved in fleshing out the Chinese banking system. I think the Chinese system is going to expand like the US system did in the late 19th century, fast and with the requisite busts along the way. Interesting how many old world financial institutions were involved in that and so many years later (after not just the great depression, but several minor ones and two world wars) are still there.

The future of China is more closely involved with that of the US than most people on this site want to believe.

[Euric]

$this->bbcode_second_pass_quote('MrBill', '
')I would sooner be unemployed in Canada where there is a chance to find a new job sooner rather than later than forced into quasi-early retirement at age 45 with no prospects except to start collecting my reduced pension at age 65 soon to be 67. Better to be in a dynamic labor market like London where anyone can get a job anytime by walking across the street. That is real job security.

[threadbear]

$this->bbcode_second_pass_quote('Euric', '')$this->bbcode_second_pass_quote('MrBill', '
')I would sooner be unemployed in Canada where there is a chance to find a new job sooner rather than later than forced into quasi-early retirement at age 45 with no prospects except to start collecting my reduced pension at age 65 soon to be 67. Better to be in a dynamic labor market like London where anyone can get a job anytime by walking across the street. That is real job security.

[Euric]

$this->bbcode_second_pass_quote('MrBill', ' ') Better to be in a dynamic labor market like London where anyone can get a job anytime by walking across the street. That is real job security.

[threadbear]

From ZNet

"Then, I thought perversely, if a little inequity is good for us, a lot of it must be better.
After all, that seems to be the operating principle of the people currently in power in the nation's capital. They keep pushing in that direction.

"The accepted view in social science is that inequalities are an inevitable condition of economic success," economic professor, Jacques Mistral, a senior fellow at Harvard's Kennedy School of Government, commented back in July."

http://www.zmag.org/content/showarticle ... emID=11307


From the Guardian:
A cloistered metropolitan elite is in denial about Britain:

From property TV shows to the politician's totem of middle England, public life is infused with a false assumption of affluence.

http://money.guardian.co.uk/news_/story ... 27,00.html

[Euric]

$this->bbcode_second_pass_quote('threadbear', '
')

From the Guardian:
A cloistered metropolitan elite is in denial about Britain:

From property TV shows to the politician's totem of middle England, public life is infused with a false assumption of affluence.

http://money.guardian.co.uk/news_/story ... 27,00.html

[MrBill]

$this->bbcode_second_pass_quote('Euric', '')$this->bbcode_second_pass_quote('MrBill', ' ') Better to be in a dynamic labor market like London where anyone can get a job anytime by walking across the street. That is real job security.

[Euric]

$this->bbcode_second_pass_quote('MrBill', '')$this->bbcode_second_pass_quote('Euric', '')$this->bbcode_second_pass_quote('MrBill', ' ') Better to be in a dynamic labor market like London where anyone can get a job anytime by walking across the street. That is real job security.

[tugboat]

China is looking to get rid of it's dollars SLOWLY - this seems to be a pretty smart approach. I'm sure it won't be reported in most media.

http://www.safehaven.com/article-6349.htm

[mmasters]

$this->bbcode_second_pass_quote('', 'T')he Soviet Union would still be in business today if it had a two party system, even if both parties were the same party in disguise with candidates pretending to be opposed to each other.

The two party system assures everyone that nothing really changes. There were attempts at a third party coming on line some years ago, but something big happened and the candidate (Ross Perot) dropped out under pressure or threat and his reform party fell apart shortly afterwards.

I believe this happened just prior to the 1992 elections.

He could have become president in 1992 and the US would have had a third party since then. But forces opposed to such a reform prevented it.

[threadbear]

$this->bbcode_second_pass_quote('tugboat', 'C')hina is looking to get rid of it's dollars SLOWLY - this seems to be a pretty smart approach. I'm sure it won't be reported in most media.

http://www.safehaven.com/article-6349.htm

[MrBill]

$this->bbcode_second_pass_quote('', 'I')'m sure that there are a lot of non-Americans working for the CIA and other American institutions outside of the US the likes who never set foot in the US.

[tugboat]

Either I better start building that off-grid homestead or learn to speak Russian/Chinese.

http://www.atimes.com/atimes/Central_Asia/HK22Ag01.html
http://www.atimes.com/atimes/Central_Asia/HK23Ag01.html