Time to buy something before the coupons that they are issuing here in the US of A become worthless. I just signed on a new truck. I agreed to pay it off with worthless dollars. It gets 29 mpg, so I figure that we can tote wood around even if gas goes to $10 a gallon. I may buy more silver too, but I bought at $7, so $14 seems a bit pricey. We all have to look at the catalogs and see what we want. Land is nice. Barrels of beans and rice are nice. Solar is really nice. Livestock will hold it's value. Maybe some nice walking shoes...
It looks like it's happening soon. I agree with the article in Counterpunch by Paul Craig Roberts. The world will dump dollars if we hit Iran. Scary stuff!
http://counterpunch.org/roberts02122007.html
PeakOil is You
The Last Days of the Dollar?
Re: The Last Days of the Dollar?
by Revi » Tue 13 Feb 2007, 09:25:52
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Re: The Last Days of the Dollar?
by threadbear » Tue 13 Feb 2007, 13:52:19
$this->bbcode_second_pass_quote('Revi', 'T')ime to buy something before the coupons that they are issuing here in the US of A become worthless. I just signed on a new truck. I agreed to pay it off with worthless dollars. It gets 29 mpg, so I figure that we can tote wood around even if gas goes to $10 a gallon. I may buy more silver too, but I bought at $7, so $14 seems a bit pricey. We all have to look at the catalogs and see what we want. Land is nice. Barrels of beans and rice are nice. Solar is really nice. Livestock will hold it's value. Maybe some nice walking shoes...
It looks like it's happening soon. I agree with the article in Counterpunch by Paul Craig Roberts. The world will dump dollars if we hit Iran. Scary stuff!
http://counterpunch.org/roberts02122007.html
It looks like it's happening soon. I agree with the article in Counterpunch by Paul Craig Roberts. The world will dump dollars if we hit Iran. Scary stuff!
http://counterpunch.org/roberts02122007.html
I was just going to post that this morning, Revi. We're literally on the same page.
Here's paragraph:
If the rest of the world would simply stop purchasing US Treasuries, and instead dump their surplus dollars into the foreign exchange market, the Bush Regime would be overwhelmed with economic crisis and unable to wage war. The arrogant hubris associated with the "sole superpower" myth would burst like the bubble it is.
The collapse of the dollar would also end the US government's ability to subvert other countries by purchasing their leaders to do America's will.
http://www.counterpunch.org/roberts02122007.html
If the US commits atrocities, like dropping nukes, this could happen. China, a leading creditor, would have to be scared into it, though, as they have a lot to lose. Japan has a somewhat dependant relationship on the US, both militarily and economically, so they'd really have to get up the guts to do it. A nuclear attack could do it, and fracture Nato too.
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Re: The Last Days of the Dollar?
by Revi » Tue 13 Feb 2007, 15:00:48
Just because it's insane doesn't mean they won't do it. I worry about the plans being cooked up in Cheney's bunker. They may actually want to make the whole world economy tank so they can make us suffer. They won't do too badly in their Dr. Strangelove cave somewhere.
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Revi - Light Sweet Crude
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Re: The Last Days of the Dollar?
by threadbear » Tue 13 Feb 2007, 15:05:08
$this->bbcode_second_pass_quote('Revi', 'J')ust because it's insane doesn't mean they won't do it. I worry about the plans being cooked up in Cheney's bunker. They may actually want to make the whole world economy tank so they can make us suffer. They won't do too badly in their Dr. Strangelove cave somewhere.
Yeah, they're so nuts, it might be an exercise in sado masochism, and we're in the foreplay stage. One can only hope that the orgasm they get from bombing Iran, discharges so much orgone, it kills them all.
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Re: The Last Days of the Dollar?
by evilgenius » Wed 14 Feb 2007, 16:02:43
They aren't going to bomb Iran IMO. What they are doing is making the Shia an enemy that is substantial enough for them to change sides in Iraq. They need to back the Sunnis there so that their support is support of Saudi Arabia.
If the Saudis can fold the Iraqi fields into their own production then they can overproduce enough to fight back any challenge to the petrodollar. If they can ensure dominance of the petrodollar then they can hyperinflate. That way they can keep the rich rich. Deflation (high interest rates on a permanent basis) is bad for the rich.
Pity for them that the Russian arms dealers can sway that equation with IED components and anti-aircraft missiles. Iran is only a portal. The conflict is much larger than it seems.
If the Saudis can fold the Iraqi fields into their own production then they can overproduce enough to fight back any challenge to the petrodollar. If they can ensure dominance of the petrodollar then they can hyperinflate. That way they can keep the rich rich. Deflation (high interest rates on a permanent basis) is bad for the rich.
Pity for them that the Russian arms dealers can sway that equation with IED components and anti-aircraft missiles. Iran is only a portal. The conflict is much larger than it seems.
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Re: The Last Days of the Dollar?
by MrBill » Thu 15 Feb 2007, 04:53:25
$this->bbcode_second_pass_quote('evilgenius', 'T')hey aren't going to bomb Iran IMO. What they are doing is making the Shia an enemy that is substantial enough for them to change sides in Iraq. They need to back the Sunnis there so that their support is support of Saudi Arabia.
If the Saudis can fold the Iraqi fields into their own production then they can overproduce enough to fight back any challenge to the petrodollar. If they can ensure dominance of the petrodollar then they can hyperinflate. That way they can keep the rich rich. Deflation (high interest rates on a permanent basis) is bad for the rich.
Pity for them that the Russian arms dealers can sway that equation with IED components and anti-aircraft missiles. Iran is only a portal. The conflict is much larger than it seems.
If the Saudis can fold the Iraqi fields into their own production then they can overproduce enough to fight back any challenge to the petrodollar. If they can ensure dominance of the petrodollar then they can hyperinflate. That way they can keep the rich rich. Deflation (high interest rates on a permanent basis) is bad for the rich.
Pity for them that the Russian arms dealers can sway that equation with IED components and anti-aircraft missiles. Iran is only a portal. The conflict is much larger than it seems.
Since when are high interest rates bad for the rich, which by definition means they own assets? Go back a few generations to the children and grandchildren of the US robber barons who lived in Europe on their incomes from coupon clipping. They were the idle rich living off high interest rates.
And besides high interest rates accompany inflation not deflation. I can only assume the rest of your analysis of ME politics and sectarian power struggles are equally as accurate? ; - )
The organized state is a wonderful invention whereby everyone can live at someone else's expense.
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Re: The Last Days of the Dollar?
by threadbear » Thu 15 Feb 2007, 14:36:37
$this->bbcode_second_pass_quote('MrBill', '')$this->bbcode_second_pass_quote('evilgenius', 'T')hey aren't going to bomb Iran IMO. What they are doing is making the Shia an enemy that is substantial enough for them to change sides in Iraq. They need to back the Sunnis there so that their support is support of Saudi Arabia.
If the Saudis can fold the Iraqi fields into their own production then they can overproduce enough to fight back any challenge to the petrodollar. If they can ensure dominance of the petrodollar then they can hyperinflate. That way they can keep the rich rich. Deflation (high interest rates on a permanent basis) is bad for the rich.
Pity for them that the Russian arms dealers can sway that equation with IED components and anti-aircraft missiles. Iran is only a portal. The conflict is much larger than it seems.
If the Saudis can fold the Iraqi fields into their own production then they can overproduce enough to fight back any challenge to the petrodollar. If they can ensure dominance of the petrodollar then they can hyperinflate. That way they can keep the rich rich. Deflation (high interest rates on a permanent basis) is bad for the rich.
Pity for them that the Russian arms dealers can sway that equation with IED components and anti-aircraft missiles. Iran is only a portal. The conflict is much larger than it seems.
Since when are high interest rates bad for the rich, which by definition means they own assets? Go back a few generations to the children and grandchildren of the US robber barons who lived in Europe on their incomes from coupon clipping. They were the idle rich living off high interest rates.
And besides high interest rates accompany inflation not deflation. I can only assume the rest of your analysis of ME politics and sectarian power struggles are equally as accurate? ; - )
High interest rates, would be the worse thing for the wealthy, right now. Cut off the flow of credit to the average man and you have a Captitalist society where very few have access to capital. A society that encourages indebtedness to ensure a roof over one's head, and then quickly changes the rules of the game, by denying the ability to service the debt, by raising interest rates, would threaten the wealthy.
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