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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: marginmike who wrote (119311)9/3/2001 6:59:22 PM
From: Tommaso  Read Replies (2) of 436258
 
" That is why the dollar is TOAST. "

There are a lot of other reasons as well. But one could say in 1870 that the Romanov family was toast and it still took 47 years to get rid of them.

What I mean is, the dollar is enjoying a kind of droit de seigneur, taking the maidenheads of a lot of other currencies, because of US political and military pre-eminence, however illusory that might actually be. If you are the Roman emperor, you can put your face on the coins.

A decadent and spendthrift family with powerful forefathers can get a lot of credit for a while.

Our wasteful society is absorbing huge amounts of production from the whole world. I see it in my own house. I was amazed at the redundancy and uselessness of all the warm coats my daughter seems to have accumulated. As I recall, when I was her age, I had one Army surplus warm jacket.

The whole country is running a huge revolving credit balance with the rest of the world.

Well, Thomas Jefferson would be proud. That's the way he certainly lived.
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