Boggsman1 & jpbassking - New Global Currency

brettbuchanan · Joined: 12 Jun 2001 Posts: 77

Hey guys check this out. Since this crisis began I've maintained that it was rooted in an unsustainable currency model - fiat to be precise. In our recent New World Order banter Boggs wrote the following (God bless him):

boggsman1 · Joined: 24 Jun 2002 Posts: 9120 Location: at a computer

I'm in. I saw the interview when Timmy spouted. I would not bank on it. I agree, if the USA slips further into the abyss, the possibility exists. I dont bank on any verbage from Russia and China, Russia has been devaluing for a year now , and China has its currency pegged to the dollar, with a tight band. If the IMF moved to the "basket" approach, the dollar would crash, taking China, and all emerging ecomonies with it as our import abilities went to ZERO. Hello WWIII.
Boggsy

MalibuGuru · Joined: 11 Nov 1993 Posts: 9300

How can any of us rely on the money in our bank accounts if our government is printing money and then loaning it back to itself?
Do we expect the IMF to act differently?

brettbuchanan · Joined: 12 Jun 2001 Posts: 77

stevenbard - Precisely.

Boggs - I noticed you didn't take me up on my wager. Come on, let's see you put those soon to extinct dollars where your mouth is...

beallmd · Joined: 10 May 1998 Posts: 1154

I can't see how any other "currency" or basket of such would be better or more reliable than the dollar. The market itself has long determined that for all it's weaknesses it is the worlds base currency. This was not decided by a politician but by world markets. So a deciscion by the EU, China or Russia will not ultimately determine the outcome. Now on the other hand America is way overspending and priniting money in a way it has never done except during WW2. The EU is essentially DEAD! It has been voted down each time it has come up including in France and is a shell at this point. Britain never really joined and still uses the pound and a majority of Brits and even europeans do not want to continue the EU. Expect the Euro to slowly fade away. We shall all see how all this turns out but the market will decide not the EU'crats.

harris52 · Joined: 11 May 1998 Posts: 125

Would it surprise anyone here that SDR's are already based on a "basket" of currencies and that the IMF reviews the basket every five years, the last one in 2005. Thus, a modified basket is virtually guaranteed every five years, thus giving a guaranteed change by the end of 2010 based on a basket of currencies, which it already is.

boggsman1 · Joined: 24 Jun 2002 Posts: 9120 Location: at a computer

Brett, c'mon brah! What part of "I'm In" , dont you get? Waddel or Jalama.
Boggsy

boggsman1 · Joined: 24 Jun 2002 Posts: 9120 Location: at a computer

Beall is DEAD on. After the EURO is de-membered, whats left ? The Loonie?

jp5 · Joined: 19 May 1998 Posts: 3394 Location: OnUr6

boggsman1 · Joined: 24 Jun 2002 Posts: 9120 Location: at a computer

Hey JP, have you seen Mulholland at Zuma? or Leo? or any other SoCal spots? If you read his posts, maybe you can get an idea of how to identify the supreme Welcher.