Save ourselves by screwing over US$?

bubblesmoney

HelpWhereIcan wrote: »

Thanks for that. I enjoyed it right up to the last bit that started to explain the (well known) fact that gold is a good hedge to the dollar and appeared to be a sales pitch for gold.

However, it was good to see some figures put on the switch from US$ to € that has been happening and in some respects helps my argument that Britain should be part of the new world order of the € as the world's reserve currency and the undoubted economic advantages that come with it.

Should we add political weight to the switch demanded by the likes of Iran, China and Russia rather than remain silent as our US friends would expect us to?

it's all well and good those nations trying to encourage eachother to denominate in €, but what if Britain and the Eurozone actively and overtly courted them to do so?

I cannot help but think having the power to issue € securities with the same gusto as the US does could only help fund whatever measures are needed to get through the current crisis.

China expected to have near 10% growth this year. Asia outstripping the west in growth for the forseeable - now is the time to wrest economic power from the US to our own benefit. Better the € than the Yuan (not that China would be seen as politically stable enough for countries to hold foreign reserves in the Yuan for decades yet)

Btw, I do not mean that to sound quite as Che Guevara/Ahmadinejad as it sounds but I do think we have to consider our reliance on and economic loyalty to the US.

and no, I do not really want this to turn into a discussion about buying vast quantities of gold and wearing tinfoil hats to prevent the coming world where we live in squatter camps under the jackboot of our asian debtmasters. not yet anyway

i think the euro is a bigger bust waiting to happen.

most paper currencies are at the mercy of their political masters next itch, which in their case is usually very short sighted on their next election or personal funding need. hence they run like flies to the fire when they see any mention of keynesian economics which gives them an excuse for quantitative easing which in the long term gets uneasy for the man on the street. i personally think people shouldnt rely on any asset that can be created out of nothing (like all fiat currencies) and that all currencies for these reasons need to be pegged against something (like gold or any damn thing that the politicians cant create out of nothing). inflation boomed phenominally only after the FED and others delinked from gold backed currencies to pursue their grandiose ideas of creating money out of nothing.

by gold i mean physivcal gold and not derivatives. i read somewhere that derivaties market is more than 600 trillion dollars and climbing. and this huge sum is backed by f*ckall in the terms of underlying assets. the next big bubble waiting to burst nice and proper.

the best things are always simple. the more the complicated things get the more the chance that some smart schmuck found a way to make money out of nothing to hoodwink others into exchanging cash for trash.

bubblesmoney

epz wrote: »

Iraq tried to get rid of the $ as their oil trading currency, worked out well for them!

same reason why many nations that tried this route got destabilised or labelled the axis of evil. iran will be next on the hit list for precisely the same reason.

HelpWhereIcan

epz wrote: »

Iraq tried to get rid of the $ as their oil trading currency, worked out well for them!

I sooo wanted to put that in myself but was worried about being accused of being an even more misinformed and lunatic conspiracy theorist than some will already think I am!:rotfl: :beer:

HelpWhereIcan

bubblesmoney wrote: »

i think the euro is a bigger bust waiting to happen.

most paper currencies are at the mercy of their political masters next itch, which in their case is usually very short sighted on their next election or personal funding need. hence they run like flies to the fire when they see any mention of keynesian economics which gives them an excuse for quantitative easing which in the long term gets uneasy for the man on the street. i personally think people shouldnt rely on any asset that can be created out of nothing (like all fiat currencies) and that all currencies for these reasons need to be pegged against something (like gold or any damn thing that the politicians cant create out of nothing). inflation boomed phenominally only after the FED and others delinked from gold backed currencies to pursue their grandiose ideas of creating money out of nothing.

by gold i mean physivcal gold and not derivatives. i read somewhere that derivaties market is more than 600 trillion dollars and climbing. and this huge sum is backed by f*ckall in the terms of underlying assets. the next big bubble waiting to burst nice and proper.

the best things are always simple. the more the complicated things get the more the chance that some smart schmuck found a way to make money out of nothing to hoodwink others into exchanging cash for trash.

should we be looking to join/help found the Islamic Gold dinar (I think that's what it is called) proposed by the Malaysian (?) Premier?

Don't think I could live without bacon and !!!!!! though

bubblesmoney

HelpWhereIcan wrote: »

should we be looking to join/help found the Islamic Gold dinar (I think that's what it is called) proposed by the Malaysian (?) Premier?

Don't think I could live without bacon and !!!!!! though

never heard that term before. i dont give a !!!! what people create as long as they dont sell sh1te to other people by claiming it to be something precious.

the swiss 24k gold coins / bars look and feel cute too. dont give a !!!!!! what its called as long as it is a means for the common man to save his/hers hard earned money and something which the taxman cant legally pilfer like in the pensions tax grab. millions of people who are about to retire and based their retirement income on shares ISAs and 401ks etc will be terribly disappointed when they find out they will have saved for nothing and have to keep working for a lot longer

HelpWhereIcan

bubblesmoney wrote: »

never heard that term before. i dont give a !!!! what people create as long as they dont sell sh1te to other people by claiming it to be something precious.

the swiss 24k gold coins / bars look and feel cute too. dont give a !!!!!! what its called as long as it is a means for the common man to save his/hers hard earned money and something which the taxman cant legally pilfer like in the pensions tax grab. millions of people who are about to retire and based their retirement income on shares ISAs and 401ks etc will be terribly disappointed when they find out they will have saved for nothing and have to keep working for a lot longer

you can buy them like krugerrands etc afaik

http://www.golddinar.ws/

but

As a consequence of the currency crisis in Asia, in the first part of 1997, then Prime Minister of Malaysia Mahathir bin Mohamad proposed introduction of Islamic gold dinar as currency for international trade in the Muslim world. It was intended to replace the United States dollar and, as a gold-based currency, provide a medium of exchange more stable than the dollar. Mahathir announced that Malaysia was to start using the dinar in mid-2003, but when in 2003 Abdullah Ahmad Badawi replaced him as Prime Minister of Malaysia, this idea was halted.

http://en.wikipedia.org/wiki/Islamic_gold_dinar

globalds

HelpWhereIcan wrote: »

Save ourselves by screwing over US$?

Doesn't quite fit in with your user name

HelpWhereIcan

globalds wrote: »

Doesn't quite fit in with your user name

No probably not in the way most people will interpret it. But then again there is the "where I can" bit.

My user name was originally meant to be along the lines of "getting help from wherever I can" (open to any ideas to save money etc) but the theory was obviously better than the practice as no-one interprets it that way. Having said that I haven't either since about my second day on here when I looked at it sober.

My original idea was 'WhateverIcanGet' but even I realised how cynical that sounded.