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Whatever happened to the plan for the IMF to "create" Global Money?
Interesting non-sequitur.
Might want to look at stocks/bonds.
Historically, when the bond market goes down, the stock market makes advances; conversely, when the bond market is strong, stocks decrease.
It's not a hard/fast rule, but generally the way things work.
The Euro is replacing the USD as the $$ of travel.
That is one thing I know lots about.
Talk, no action.
It would be a HUGE deal to hammer out.
It WILL almost certainly happen at some point - and concerns about the US deficit WILL probably help drive it - but it's still a VERY DIFFICULT thing to work out - with lots of details to work out and lots and lots of people to buy into it. It will be a brutal series of negotiations that will take years (if not decades) to make happen.
That's why there is no immediate danger that the dollar will come anywhere near collapse. Until there is a viable alternative to the dollar there is no way the dollar will come anywhere near collapse. Even after that happens it's unlikely - but certainly not until there is another alternative as the worlds' currency.
Ken
The hullabaloo over euros still continues, each nation acting like a disenfranchised child one way or another in european union. I think you've hit the nail on the head with this analysis. Common currency, similar to everyone going metric, would make a good deal of sense. The problem is who would be the controlling force behind that currency? People within our own borders are unhappy with how our own treasury system has been allowed to be disfunctional for how long? Change is due, but into what is of course the slippery slope.
As you can see, at the moment, gold is pretty much where it was a year ago (scroll down) - and lower than it was back in mid/late February. The big boost in gold happened in early '08. Since then it's been up and down, up and down, not ever breaking through that early '08 ceiling. It probably will at some point, but for now it's kind of treading water - and has generally been trending downward for the last 30 days.
There is speculation that gold is being kept artificially low.
The latest report from the Fed now lists "gold swaps and leases" as part of their actions.
This is new from last months report. So is the Fed now trading gold ?
This was from an article I read on the Financial Sense website.
There is speculation that gold is being kept artificially low.
The latest report from the Fed now lists "gold swaps and leases" as part of their actions.
This is new from last months report. So is the Fed now trading gold ?
This was from an article I read on the Financial Sense website.
Yeah but keep in mind that sites like FinancialSense.com push commodities (such as gold, energy, and other raw materials). It's in their interest to promote and spread such speculation (that's why Jim Puplava founded it - to promote his industry and his business). While there is no doubt some good information on such sites, there is also almost certainly crass attempts at market manipulation by convincing people to buy their products they are pushing (in this case, gold, oil etc) - so don't believe for one minute that you are getting unbiased appraisals of the situation. Make no mistake about it, those folks are trying to sell something.
Gold is the same price now that it was 30 years ago. All this talk of gold is ridiculous and ignorant. Nobody should put all their money in gold. The dolalr is the most reliable and stable currency in the entire world. Yes, even more so than the GBP or the Euro.
Last edited by punkrocker27ka; 07-05-2009 at 10:18 AM..
The hullabaloo over euros still continues, each nation acting like a disenfranchised child one way or another in european union. I think you've hit the nail on the head with this analysis. Common currency, similar to everyone going metric, would make a good deal of sense. The problem is who would be the controlling force behind that currency? People within our own borders are unhappy with how our own treasury system has been allowed to be disfunctional for how long? Change is due, but into what is of course the slippery slope.
Yup. Nothing is going to move fast - as is the case with any commitee. When you consider that the IMF now has well over 100 member states and when you think about the fact that all of those states almost certainly have big investments in the US dollar, they are going to move pretty carefully when the time comes to transition away from the US dollar as the world's standard currency. Not only will they have to reach agreement on what to do - but (perhaps even more difficult) also how to do it - and at what kind of schedule. None of those nations want to do anything that will result in their investments in US dollars collapsing so all that has to be handled very slowly, carefully, and deliberately.
Ken
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