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Non-Tech : Derivatives: Darth Vader's Revenge
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To: Worswick who wrote (704)12/31/1998 1:23:00 PM
From: Bonnie Bear  Read Replies (2) of 2794
 
Hi Worswick...
I keep watching this market in awe. Oh, what has the brokerage industry wrought? The S&P has replaced the gold standard for US currency, because there is nothing else left...
the physicist in me wants to scrape all the labels off and flip it around a bit...
I notice that the price of my house, and the REAL price of gold (the price people are willing to pay for it if it were not artifically depressed) has kept up with the S&P. The local gold merchants have record sales, they tell me that foreigners living here take their paychecks and buy gold with them rather than leave them in dollars.
My utility bill and rate increases, and health care premiums, have also kept up with the S&P. The only hard point here is the price of gold, it's easy enough to manipulate commodity prices and gold using futures.
To put it another way, our salaries are being deflated and taxes raised to match the rest of the world using financial engineering. Now that the euro is here, all he has to do to finish the job is let the dollar float down to wherever it wants and hold treasury yield fixed to down to keep the derivatives bubble from collapsing.
Sooner or later they can spring the gold price up after the rest of the damage is done.
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