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

GLD 366.51

+1.2%

Nov 5 4:00 PM EST

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To: kingfisher who wrote (91266)	6/9/2012 1:14:24 AM
From: Maurice Winn	1 Recommendation Read Replies (1) of 217547

Gold save the world? Giggle.... Kleptocratic politicians and wastrel electorates can waste gold as easily as they can waste anything. Gold will be another false promise of salvation. Virtuous Victorian Values of Learn, Work, Save, Invest, Spend frugally and with high return on expenditure are what's needed. Whether it's gold or some other medium of money doesn't matter except that gold is an expensive thing to use as money and is prone to criminal activity. Gold was good for an era of jungle-based hunter gatherer societies with no electronics or mobile Cyberspace. The way to save the euro is to leave borrowers and lenders to sort out by way of legal process or civili insurrection who owes what to whom and who owns the existing issued euros. The euro issuing authority just keeps track of who has them. If the issuing authority finds a central bank creditor goes belly up, then they can take over that bank's assets and sell them to the highest bidder. The shareholders and other creditors of the bung banks would have to join the queue to see if they get any money back. Government "workers" would have to get real jobs more suited to their talents as their opm stream dries up. Greeks, Spaniards, Italians and other citizens would abrogate the loans which have been forced on them against their will. Those who decades ago were saying government money was risk-free investment would learn the opposite. It was always obvious that owning shares in companies should NOT have a risk premium compared with government bonds. While governments can and do use eminent domain to rob shareholders of private companies, they are more likely to rob holders of their bonds which are just glib promissory notes issued by politicians. Mqurice

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