bosun.j

What Is Going On With Gold?

Yet more American't exceptionalism. Back that up with data not just some faith based capitalist dogma!

On Jan 09 07:39 PM The Pragmatic Capitalist wrote:

> Perhaps you are correct. But I just don't see how the world transfers
> to any other currency as its reserve without a devastating economic
> impact. Is the 10 year old Euro stronger than the dollar? Trichet
> alone has proven the incompetence of their ability to manage the
> world's economy. Is the Yuan the reserve? I think that's laughable.
> Is the Yen worthy? Is a basket better? Perhaps. Perhaps not.
>
>
> Unfortunately for the rest of the world, our form of government provides
> economic strengths and benefits that simply are unmatched in the
> socialist European nations and communist China. If we try to remove
> the USA from the equation the whole house of cards crumbles. <br/>
>
> The rest of the world has a lot of economic maturing to do before
> any other currency can be trusted as the reserve. Either that or
> global capitalism is the wrong course to be on....

What Is Going On With Gold?

American't exceptionalism. Back that up with data not just some faith based capitalist dogma!


On Jan 09 07:45 PM The Pragmatic Capitalist wrote:

> The only problem with the doom and gloom argument is this: if the
> US is doomed, the world is beyond doomed. Assuming that a now capitalist
> world can function well without America is like assuming that you'll
> be okay without a functioning heart. Can China and Europe really
> afford for us to go down in flames? I think not.

What Is Going On With Gold?

You conveniently ignore the fact that real estate "values" have fallen more than 40%......


On Jan 09 03:09 PM Malkiel wrote:

> To expand on Richmond's line of thought, which would you rather have--a
> currency based on real estate or a currency based on gold? Real
> estate is a permanent source of value--homes, land, and commercial
> sites are the very fabric of the country and will always be there--whereas
> gold's meager intrinsic value seems to be limited to jewelry and
> occasional industrial coatings. The current crisis contains the
> seeds of a brilliant solution--rather than having the country's currency
> be backed by the promises of a national bank based on prior performance
> the promises could be based on real legal ownership of the country's
> land and infrastructure. The idea suddenly makes me start to like
> the bailout better. Owning gold is just another form of fiat by
> commodity, owning the land and infrastructure is the most tangible
> form of wealth...

What Is Going On With Gold?

China just began settling international trade in Yuan. As you know the Chinese never do anything on a "trial basis". China's longterm goal is to break American hegemony. I'm glad they are. It's well past time somebody did! China will be the world superpower in my lifetime.