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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 379.87

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Nov 11 4:00 PM EST

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To: elmatador who wrote (72867)	4/7/2011 1:40:12 PM
From: Maurice Winn	1 Recommendation Read Replies (1) of 217711

USA to China: "Here are forex reserves of $2.8 trillion. When you want to buy something, just ask for a quote and we'll be happy to supply". That $2.8 trillion is made up of USA politicians' promissory notes. My experience of people who owe money is that many of them find good reasons and excuses why they don't actually have to repay the favours received. Politicians are particularly prone to say and do anything which keeps them in power and loot. It occurs to me than American politicians and Americans might decide it's easier to dilute those promises which they can do by the simple expedient of printing a whole lot more of those $2.8 trillion and issuing them to themselves, thereby diluting the $2.8 trillion. As Zimbabwe showed, it's possible to dilute them to zero. Perhaps China has good reason to think that American politicians and the Federal Reserve and Americans are really keen to work for people in China at low pay rates. My bet is that the USA will dilute their debt thereby defaulting on a good portion of it. So far, that's what they have been doing, $1 trillion at a time. Mqurice

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