Applied Materials No-Politics Thread (AMAT) Message Board

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Technology Stocks : Applied Materials No-Politics Thread (AMAT)

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To: etchmeister who wrote (24713)	11/17/2010 9:11:45 AM
From: Sun Tzu	1 Recommendation Read Replies (3) of 25522

Be it far from me to defend the Fed, but joke misses the point of quantitative easing. The process, is quite literally that of printing money and giving it away to the banks in the hope that the banks will pass on the cash to the general public. Obviously this is yet another take from the poor and give to the rich or at the very least a hideous tax and spend scheme...but that is what it is meant to be. The joke did not get the point. People who have known me, may remember that for over 10 years I've been advocating moving all your assets out of USD. By and large this has been a great advice and I see no reason why it will not be good practice to continue doing so. You can easily see this by looking at the long term charts of USD vs CHF or even CAD or vs Gold or almost whatever you want. The problems with US economy in general and with the USD in particular, are so structural that they are almost intractable. I say almost intractable, because if a party had majority in both houses as well as the presidency, as has been the case with both Dems and Reps in recent years, they could commit political suicide by pushing the fix through...however, neither party is willing to sacrifice themself for the good of the country. So what is going to happen is that they will kick the can down the road until the system will literally begin to fall apart at the seams and it will become painfully obvious to any joe on the street that government as usual cannot go on. Then both parties will trip over themselves in taking the upper hand in prescribing the bitter medicine, taking credit for the fix, and blaming the damage on previous administrations of the other party. By my account, USD is still 40% - 60% overvalued. We have another 4 - 10 years to go before we get there. Those who have prepared wisely, will rip great rewards. The rest, will be shaken so hard from the roller coaster that will be disoriented for a very very long time. ST

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