About time. Wake up & smell of coffee.
The Economist 4/12/04, leading opinion piece.
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For a while I was thought maybe the Iraq war was simply the expression of a strong dollar policy by a bunch of super-patriots. Then they decided to pay for the war by weakening the dollar, idiots, not even patriotic idiots.
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Yeah, but at least all those queers aren't going to be able to get married now. That's the important thing.
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furious consumer spending
This aspect of the matter is not limited to people who voted for anyone with an "(R)" after their title. It is my belief that our economy has been a sham not just for the previous three years, but for the past decade and a half. The strength of the dollar was simply imagined, much like a stock price inflated by nothing but hype. |
Another growing problem in America is the drastic increase in fiat spending by consumers.
Finance agencies and credit card companies are giving credit to just about anyone. Nobody here cares about the actual price anymore. It's not a question of how much is the price, they just want to know how much the note will be. |
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Glatt is entirely correct! The only way to solve this pressing financial crisis is to stop teaching evolution in the schools, and bring back prayer. Also, eliminating abortion will help reduce the deficit. Preventing homosexuals from marrying will ensure the stability of our families, and the production of the next generation of indentured servants, er, uh...citizens.
We should also increase hostilities throughout the world, because that will fuel the military-industrial complex and provide employment, possibly somewhere besides India. God wants us to do that, and He's on our side. |
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Of course that spending has also been encouraged by this administration which means when the crunch comes there's nothing to fall back on and debt suddenly dawrfs assets... |
I recommend buying an ounce of gold per month if you can afford it, and when the shit hits the fan and people around the world realize the dollar is worthless because it has nothing to back itself up, you'll still have something of value to start a new life.
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Just as soon as you can find someone to buy it off you in a world where the shit has hit the fan.
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I have added some gold stocks to my investment portfolio and, so far, I am quite pleased by the returns. Who cares about the reality behind the perception? In the case of gold, anyhow, perceptions are fueling the market, and I've made a tidy sum off of them.
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If the dollar crashes, it doesn't mean the world will crash, and it doesn't mean that gold will become worthless. There will always be people willing to buy gold. That's not a problem.
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The shit won't really hit the fan that badly. Well, it's all kind of relative I guess. I mean part of this is practically certain to happen, unless the dollar stops dropping it's a matter of time before one of the Asian central banks propping it up decides it's time to start diversifying its reserves as the losses from US bonds mount. Of course whether that causes a panic is the real question. Either way I'm confident that Bush will go down in history as the worst president.
Gold is a wise investment in such a scenaroi - when the shit does hit the fan, every time, gold goes up. |
I was dissapointed to find out that when you invest in gold, you don't actually get a piece of the gold. A piece of paper is no fun, I want a bar! Even if it is really, really, really tiny.
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Actually you can buy gold coins or small bars of gold directly without having certificates. This is what I want to do. Buy Canadian gold coins, Chinese Pandas, South African Krugerands, etc. and you will sometimes add to the value because they are collectable. If you setup gold in your 401k or something, you'll get certificates, not actual gold.
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