The £ is falling, buy why isn't the $?
- Thread starter OpenToSuggestions
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I wasn't being entirely serious, hence the
and I probably should have added it as a reply to the person you quoted instead (I forgot it doesn't nest quotes as default). I was just pointing out that Hal Turner seems to think this new magical secret currency would result in the dollar being worthless.
Ah right, sorry.
Go watch that peter schiff video anyway. He and Ron Paul were the only people warning of the credit crisis for years now.
They've been warning for years and been consistantly wrong until now though... They've been saying it's 'just around the corner' for a very long time, especially in Ron Paul's case.
Even a broken clock tells the correct time twice a day...
Gold can't be synthesized at will, unlike standard currencies...
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One of the reasons is that the US could sell off its gold stocks to raise capital for its bank bail out. Whereas the UK, given that Gordon Brown had already sold 50% of our gold when the market was at a 25 year low in 1999, only has a small amount of gold to sell and that small amount that we do have we would rather like to keep. So instead the UK has had to effectively print the money... at the expense of our currency.
Anyone know much about the strength of the Australian dollar at present? It's 2.36 now but I don't really know if that's good or not. Are they experiencing a "credit crunch" of any kind?
I'm off traveling over there in a few months and wondering how it might affect me.
I'm off traveling over there in a few months and wondering how it might affect me.
Show me one source where they've been wrong.
He's been beating the same drum for years with regards to fiscal policy and fractional reserve banking and the federal reserve being a recipe for disaster just around the corner...
http://en.wikipedia.org/wiki/Ron_Paul#Books_authored
He first book on this premise was in 1981, another in 1983, and again in 1991, and again in 2000.
I actually agree with Ron Paul on a lot of his policies, but to claim he's some sort of economic visionary when he's been far more like the boy who cried wolf is taking it a step too far.
He's been stating excessive borrowing and the like are risks caused by the federal reserve for a lot, lot longer than that.
Excessive borrowing, from Paul's point of view, are symptoms of the problem, not the cause.
There used to be a gazzillion people on this forum on a Friday night.
Where've they all gone? There's me and a couple of other old farts reading stuff about £'s v $'s. Where's the humour? Where's the banter? Where's the point? (Note to dons: this is just my personal point of view - don't sack me!).
Where've they all gone? There's me and a couple of other old farts reading stuff about £'s v $'s. Where's the humour? Where's the banter? Where's the point? (Note to dons: this is just my personal point of view - don't sack me!).
If the us dollar obeyed the normal rules of supply and demand, the dollar would be worth a fraction of what it is today. For any other currency the massive trade deficit that the us has been running for the past 30 years and the huge amounts of debt the us government has issued would have driven its value way down.
Put simply if every holder of us gov debt redeemed it right now the fed reservet would have to print so much us dollar bills that a doller would effectively be worth nothing.
Luckily for the us and probably the rest of the world, the dollars unique position as the de facto global currency means countries like china, india, japan are ready to defend the dollar against depreciation keeping it artificially high.
Put simply if every holder of us gov debt redeemed it right now the fed reservet would have to print so much us dollar bills that a doller would effectively be worth nothing.
Luckily for the us and probably the rest of the world, the dollars unique position as the de facto global currency means countries like china, india, japan are ready to defend the dollar against depreciation keeping it artificially high.
If they head towards parity, then I think there will be a lot of pressure on the UK to adopt the Euro.
I do like the GBP though, it just feels like "proper money" - apart from those soggy old five pound notes that look like they've been sat in between a sweaty builders buttocks for a week and then sprinkled with cocaine and dipped in snot...
My investments would vanish
, but what are the chances of that happening? all investment has risk, having cash in the bank or even in your wallet is a greater risk I think. Gold is a currency, has been for thousands of years and always will be. thats why central banks hoard it 
GBP will be worth sweet FA in a year or two, that I am fairly sure. We can thank Mr Brown for managing to completely bastardise our monetary system.My investments would vanish
Quite an extreme view you have there