View Full Version : Talk round the camp fire:- China will "Invite"...
China will "invite" the US to borrow from now on using its new $ replacement cash. Russia DEMANDS Gold for atlest part of it & to bring them & other on board China has agreed.
The HK$ will be pegged to it as will other formly $ pegged moneys.
Mike
China will "invite" the US to borrow from now on using its new $ replacement cash. Russia DEMANDS Gold for atlest part of it & to bring them & other on board China has agreed.
The HK$ will be pegged to it as will other formly $ pegged moneys.
Mike
*cough*untiltheresalinkpostedtoacrediblenewssource thisbelongsinrumors*cough*
;)
*cough*untiltheresalinkpostedtoacrediblenewssource thisbelongsinrumors*cough*
;)
I wanna know who's mug is on the highest denomination of the "new cash". Mao? Lenin? Stalin? Deng Xiaoping, Peter Schiff...who???
Inquiring minds want to know...:)
Starving Steve
03-30-09, 07:53 PM
What difference does it make whose mug is on the new currency? What really matters is what the currency is backed with and does the new currency replace the dying American currency? If it does, how so?
As far as mugs are concerned, Stalin or Mao would make for a hilarious choice. Good for China! Let American school children learn about other heros beside the "founding fathers".
What difference does it make whose mug is on the new currency? What really matters is what the currency is backed with and does the new currency replace the dying American currency? If it does, how so?
As far as mugs are concerned, Stalin or Mao would make for a hilarious choice. Good for China! Let American school children learn about other heros beside the "founding fathers".
It'll be backed by the same ever elusive quality that backs all global currencies today..."confidence"**. That's why the mug shot on the highest denomination is important.
I heard a rumour the Chinese were considering using Jim Roger's picture, he being the only person they know that bashes the US Dollar more than they do. But they changed their mind when they discovered how many ink colours were needed to accurately reproduce the bow tie...
**And that's why it will never come to pass. If you think the G7 had difficulty making collective decisions, just wait till later this week when 20 completely disparate countries try to agree on the seating arrangement at lunch. The idea they could possibly agree on some new US Dollar replacement currency regime is so totally laughable it's beyond absurd. At best some rabble-rousing subset of the G20 will get an endorsement to go away, "study it" and bring back their recommendations...for further study, no doubt. :)
ThePythonicCow
03-31-09, 12:16 AM
**And that's why it will never come to pass. If you think the G7 had difficulty making collective decisions, just wait till later this week when 20 completely disparate countries try to agree on the seating arrangement at lunch. The idea they could possibly agree on some new US Dollar replacement currency regime is so totally laughable it's beyond absurd. At best some rabble-rousing subset of the G20 will get an endorsement to go away, "study it" and bring back their recommendations...for further study, no doubt. :)It'll come to pass if the Banksters can sufficiently threaten the major parties, and if the Banksters want it. First we have to go through some worse times in the world economy, with the Banksters one by one dragging each key player (US, Euro, China, Japan, Russia, OPEC, ...) through some scary times that leave the political leaders of each fearing for their survival.
I agree that such a global currency committee cannot possibly function competently on its own accord. Neither can the United States Senate in the current power structure. That's immaterial.
It'll come to pass if the Banksters can sufficiently threaten the major parties, and if the Banksters want it. First we have to go through some worse times in the world economy, with the Banksters one by one dragging each key player (US, Euro, China, Japan, Russia, OPEC, ...) through some scary times that leave the political leaders of each fearing for their survival.
I agree that such a global currency committee cannot possibly function competently on its own accord. Neither can the United States Senate in the current power structure. That's immaterial.
TPC: We are witnessing the dying of the FIRE economy, not the rebirth of a new one. As the inexorable stresses of imploding economies continue to build, international cooperation is likely to decline. And that will make it more difficult to achieve what you describe above.
In addition we can be quite certain that the bankster patrons of the political class will one by one be sacrificed as they increasingly become serious liabilities for any ambitious politician. They have already passed the peak of their power, except those [like Jon Corzine] that decide to enter public service...because that is where the power is now shifting.;)
metalman
03-31-09, 09:36 AM
TPC: We are witnessing the dying of the FIRE economy, not the rebirth of a new one. As the inexorable stresses of imploding economies continue to build, international cooperation is likely to decline. And that will make it more difficult to achieve what you describe above.
In addition we can be quite certain that the bankster patrons of the political class will one by one be sacrificed as they increasingly become serious liabilities for any ambitious politician. They have already passed the peak of their power, except those [like Jon Corzine] that decide to enter public service...because that is where the power is now shifting.;)
pakistan, afghanistan, iraq, ireland, mexico, etc... all once supported by fire econ bribes... no brime money, no 'peace'. the headlines tell the story.
pakistan, afghanistan, iraq, ireland, mexico, etc... all once supported by fire econ bribes... no brime money, no 'peace'. the headlines tell the story.
Just one example admittedly, but once the USA finally declares victory and abandons Iraq, does that country find a way to govern itself constructively, or does it decend once again into civil war?
If you were a betting man...
karim0028
03-31-09, 10:22 AM
Just one example admittedly, but once the USA finally declares victory and abandons Iraq, does that country find a way to govern itself constructively, or does it decend once again into civil war?
If you were a betting man...
If i were a betting man (and i am not :)) I would say Iraq falls into oblivion or splits into separate countries.... Could see it right when that tard Bush decided to lie to the country and take us to war...
Too many differences, too many allegiances, too much power (oil) concentrated into a tiny spot (kurds) for them to agree to share.... He who controls the countries wealth rules, and everyone there knows that...
Unfortunately, i think the only way Iraq stays as a country is with a dictator like Saddam....
If i were a betting man (and i am not :)) I would say Iraq falls into oblivion or splits into separate countries.... Could see it right when that tard Bush decided to lie to the country and take us to war...
Too many differences, too many allegiances, too much power (oil) concentrated into a tiny spot (kurds) for them to agree to share.... He who controls the countries wealth rules, and everyone there knows that...
Unfortunately, i think the only way Iraq stays as a country is with a dictator like Saddam....
Well I am a betting man. I agree we will see Iraq over time become three seperate countries. All three will hold elections. So if victory is defined as democratically elected leader, then victory it will be.
I am not speaking of the price America or any other nation paid in money or blood.
Glenn Black
03-31-09, 01:50 PM
To my knowledge, there has never been a system that fully failed and disappeared before there is a different system ready to replace it (eg. warlords in Somalia to replace prior government).
A vacuum (ie. no system whatsoever) never occurs.
Does anybody have an example to contradict this theory & experience?
Let's not unlearn what we already know, shall we?
There will be no global currency.
These are the rantings of ignoramuses like Soros and conspiracy theorists.
Forget it. Think: same currencies but pegged to something in common.
BiscayneSunrise
03-31-09, 05:21 PM
Well I am a betting man. I agree we will see Iraq over time become three seperate countries. All three will hold elections. So if victory is defined as democratically elected leader, then victory it will be.
I am not speaking of the price America or any other nation paid in money or blood.
Iraq's future depends a lot on whether Iran decides to destabilize Iraq.
Even if the US abandons Iraq by withdrawing ground forces, the US will continue to maintain enough military and diplomatic presence in surrounding countries to maintain a certain amount of stability in the region.
The Iraqi's, for their part, still see themselves as Iraqi Arabs and distrust the Persian Iranians.
There is a reason why the British carved up the Ottoman Empire the way they did. A large and peaceful Iraq serves a necessary purpose to counterbalance Iran. Iraq split three ways only serves to destabilize the whole region and very few people want that, least of all the Turks who don't want their ethnic Kurds getting any ideas about seceding from Turkey.
Speaking of Turkey, if things do get really bad in Iraq, it is entirely likely that Turkey could enter the region in a reprise of their old role (Ottoman Empire) to stabilize in a power vacuum.
My bet is Iraq continues on its tenuous path towards stability and regional leadership.
Let's not unlearn what we already know, shall we?
There will be no global currency.
These are the rantings of ignoramuses like Soros and conspiracy theorists.
Forget it. Think: same currencies but pegged to something in common.
And they all are devalued first I would guess, right? Assuming gold is part of the peg.
Just one example admittedly, but once the USA finally declares victory and abandons Iraq, does that country find a way to govern itself constructively, or does it decend once again into civil war?
If you were a betting man...
Why would the US ever voluntarily leave Iraq? They still haven't left South Korea or Japan, and there's a lot more at stake in Iraq.
babbittd
03-31-09, 06:53 PM
I wanna know who's mug is on the highest denomination of the "new cash". Mao? Lenin? Stalin? Deng Xiaoping, Peter Schiff...who???
Inquiring minds want to know...:)
Yao Ming of course. It has to be someone that most Americans can pick out of a lineup.
Spartacus
03-31-09, 07:28 PM
To my knowledge, there has never been a system that fully failed and disappeared before there is a different system ready to replace it (eg. warlords in Somalia to replace prior government).
A vacuum (ie. no system whatsoever) never occurs.
Does anybody have an example to contradict this theory & experience?
From my studies, what usually happens is, a system collapses, usually creating a vacuum that's filled pretty quick BUT the first replacement system usually does not last.
The Tsar was thrown out, Alexander somebody set up a provisional government that freed many bolsheviks from jail, then the Bolsheviks overthrew the provisional. then Stalin hijacked that to a much worse level (various convolutions with the military, the Japan war and other Russian nobles complicate the story, but that's the nutshell)
Similar stuff has happened all the time. The revolution gets hijacked by folks much worse than the instigators. French Revolution, Cuba, Angola, and many others.
There's a similar effect in business - Clayton Christensen calls it "the Innovator's dilemma". The originators of an innovation are not usually the ones who make the most from it.
AT&T did not make a lot off the transistor - others made much more
the photolithographed integrated circuit was invented at Texas Intruments, but they did not make the most money off it.
Xerox did not make the most from mouse/windows. Neither did Apple.
ThePythonicCow
03-31-09, 08:32 PM
TPC: We are witnessing the dying of the FIRE economy, not the rebirth of a new one.As a proud member of the Tin Foil Hat Club, I am more inclined to think that while the FIRE economy in its current form is dying, the underlying powers that have dominated world finance for the last few centuries will die a more difficult death, at least a few decades, if not a century or two, into the future. I'm guessing they are doing their best to make good use of the current panic to extend their grip further over human civilization.
It won't surprise me all that much if I'm wrong, however.
Why would the US ever voluntarily leave Iraq? They still haven't left South Korea or Japan, and there's a lot more at stake in Iraq.
It has nothing to do with what is at stake in Iraq, and everything to do with what is at stake back home.
I do not believe there are any body bags coming home from Korea or Japan. I do not believe that President Obama has made any promises about troop withdrawals from Korea or Japan. Iraq is a potentially serious political liability for the new President - regardless of what he does. Japan and South Korea are not.
That's the difference.
It has nothing to do with what is at stake in Iraq, and everything to do with what is at stake back home.
When I said there was more at stake, I meant from the (perceived) perspective of US citizens too. In particular, control over Iraqi oil fields and in-theater monitoring and influence over other Mideast oil fields in Saudi, Kuwait, etc.
I do not believe there are any body bags coming home from Korea or Japan. I do not believe that President Obama has made any promises about troop withdrawals from Korea or Japan. Iraq is a potentially serious political liability for the new President - regardless of what he does. Japan and South Korea are not.
Political liability? Yes, certainly. But the sword cuts two ways: loss of control over the Mideast oil fields would be an even more serious problem.
Promises about troop removal? Sure, but since when are promises a reliable indicator of what a politician will do? A number of timetable-related promises have already been broken by Obama. Besides, who knows what deals have been made with others in the Mideast that the US will stay.
Keep in mind that I'm saying this from the perspective of someone who thinks the US should leave Iraq. I just don't see how it's ever going to happen voluntarily -- unless the military goes bankrupt of course. That could do it. But don't crumbling empires have a history of supporting their military adventures until the bitter end?
billstew
04-01-09, 04:23 AM
China will "invite" the US to borrow from now on using its new $ replacement cash. Russia DEMANDS Gold for at lest part of it & to bring them & other on board China has agreed.
The HK$ will be pegged to it as will other formerly $ pegged moneys.
Mike
Although what you are saying is speculative at this time, many parts of it do have a high probability of becoming true.
I can see the HDK being re-pegged to the SDR (also uses ISO call XDR) at least. The other things may or may not happen in the way you suggest.
billstew
04-01-09, 04:28 AM
Let's not unlearn what we already know, shall we?
There will be no global currency.
These are the rantings of ignoramuses like Soros and conspiracy theorists.
Forget it. Think: same currencies but pegged to something in common.
You are also equally right.
Even if the SDR "XDR" is bumped up to being a global currency, that will not weaken or diminish the well run fiat currencies (or the fiat currencies that have benchmark status).
In any case new FOREX accounting regimes will evolve to fit the new conditions ... and the USD, UKP and EUR will not have the preferential status they once held.
That said, as of mid-2008, Gold / Silver / Platinum / Palladium are back again as universal currencies.
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