hell is freezing, i agree with dobbs

[thesightless]

http://www.cnn.com/2006/US/10/17/Dobbs.Oct18/index.html

what about ''of the people, for the people, by the people''?

[Yao]

Re: hell is freezing, i agree with dobbs

wow. I also recognize my own country there...and it's so true!

[Lorn]

Re: hell is freezing, i agree with dobbs

I can appreciate all the angry emotions. The real cause of the war on the middle class is the expansion of credit. It used to be I could go to a federal reserve bank, hand over a $20 note and receive the same amount in gold. Not anymore. Wich means money in essence is worthless. It is only propped up by faith. So what has happend over the last two decades is credit (or money) has been expanded (or printed) like nothing else matters.

Everything is an IOU today backed by nothing but a promise. I shudder to think when us middle class average folk literally can't take it anymore because we ourselves have had to take on so much debt just to stay on top of things that we can't possibly take on anymore.

The end is indeed near...

[thesightless]

Re: hell is freezing, i agree with dobbs

wtf are you reading?!?! the gold reserve was dropped a long time ago, and silver too. there isnt enough in the world to ensure any economy. we would have the 5-6 nations with the most post ww2 money buying out other countries if we kept it. the population of earth expanded beyond what was capable.......think about it, in 1948, the US, UK, china, and USSR would have bankrupted half a continent. the middle class is ignored, simply from the fact we dont have things like a middle class interest group or a white guy interest group. we allowed the congressional houses to break away from term limits and get ppl in their pockets. they set up laws to protect those who wouldnt help themselves, and those who had the money to help themselves, well, they bought the democrats, then they bought the republicans, then the dems again and so forth.......

[Lorn]

Re: hell is freezing, i agree with dobbs

I think its wtf are you reading.

[thesightless]

Re: hell is freezing, i agree with dobbs

for the last 8 years, the IMF and W. bank reports.... non stop economics date, data on the US economy, budgetary analysis', currency valuations.....

[Lorn]

Re: hell is freezing, i agree with dobbs

yea...me too. My philosophy is obviously different than main stream chinanigans.

[thesightless]

Re: hell is freezing, i agree with dobbs

mine is to ensure growth in my clients.

but you do realize that they fell back to silver, platinum and other hard metals to back currency before it became unfeasible to supply it any more with the inflationary reactions that differed between countries, dont you?>

[rubyraks]

Re: hell is freezing, i agree with dobbs

for the last 8 years, the IMF and W. bank reports.... non stop economics date, data on the US economy, budgetary analysis', currency valuations.....

While I'll grant you from an economic perspective, those reports are a very interesting and eye-opening read, they don't tell the whole story and are subject to their own biases. An all-around one-type application of economic policies based on the western model and thinking doesn't necessarily fit all economies and countries.

Also, just based on who's represented within those organizations and where they're physically located also tells you a little more about their biases, ie. world's largest western economies (US has automatic veto in World Bank decisions) and Washington D.C.

[thesightless]

Re: hell is freezing, i agree with dobbs

which is why they essentially abandoned the reserve as means of valuating the currencies. the big guys were growing and growing thier economies and the value of gold became irrelevant with foreign investment where gold value was differing in respect to say, niger in africa. nowadays, the currency values are reflecting mroe on domestic markets, trade, and gov;t aid and lending.

[Lorn]

Re: hell is freezing, i agree with dobbs

I understand everything you are saying Sean. And perhaps it was inevitable due to WWI. But I am of the firm belief that Governments are only destructive to an economy. That is why having a currency based on something of value is a way to keep governments from meddling. Of course, all the central banks and the Fed make it tough for the government NOT to meddle these days. The misplaced idea that the Fed can magically control infaltion et al., will eventually lead to disaster, a la 1929--33.

[thesightless]

Re: hell is freezing, i agree with dobbs

FDIC> which is backed by the IMF insurance. we alright, we learned. it will take something along the lines of global catastrophy to fuck it up again. besides, we can rrely on what FDR did and simply go to war which in every moment in history has proven to boost the economies of the world. (except africa, but that is a whole different story)

[Lorn]

Re: hell is freezing, i agree with dobbs

You honestly believe FDIC will bail you out?

[thesightless]

Re: hell is freezing, i agree with dobbs

that is the wonderful thing about US and international law regarding contracts. they have too as long as you never let one account top 200K. which should not be done anyway, it should be invested in growth potential.

[Lorn]

Re: hell is freezing, i agree with dobbs

I'm sorry I don't have that much faith in International Law or the US for that matter. Its just like Social Security, there isn't enough money in the fund to even begin to cover if mass losses occured.