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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: maceng2 who wrote (24438)	10/22/2002 5:06:18 AM
From: maceng2	Respond to of 74559

Uncle Al KBE = Sir Printzalot. and a little news story from his puny minion Gordy Brown. ananova.com But no, you can't have any of this money as wages. You can borrow some with this special loan called the "Venus fly trap". Yep let's have some fiscal responsibility around here-lol- The people least able to fend for themselves get punished. Old age pensioners are a favorite target. Bricklayers, carpenters, and plumbers can get paid £80k to £100k per annum, in this penultimate phase of the property bubble. I'm seriously thinking of being a professional carpenter myself. The property bubble will collapse soon though, I think, just after I would become fully qualified. The "official statistics" show doctors earn the most pay at £50k. They pre pay their taxes though. It's easy to get a job in London fixing up the property of Judges, Lawyers, Bankers, Dentists, CEO's, CFO's and pay no taxes. Not sure if those guys are paying appropriate 17.5% VAT on the services either. I wouldn't know -g- What a bunch on B/S the economy is.

To: maceng2 who wrote (24438)	10/22/2002 5:46:08 AM
From: Snowshoe	Read Replies (1) \| Respond to of 74559

Pearly, backing currency with gold is a joke because the government can devalue the currency any time it wants to by revising the exchange rate. Even when we were on the gold standard, it was still a fiat currency because there wasn't enough gold on hand to cover a run against the US$. We're better off to admit reality and use a floating exchange rate for gold, so the POG can adjust without the shock of sudden currency devaluation.

To: maceng2 who wrote (24438)	10/22/2002 2:41:17 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

PB, people do have a choice. They can invent and use the Q cybercurrency, backed by QUALCOMM shares. Their store of value can be any of the assets which exist [houses, land, patents, oil fields, iron mines, shares etc]. Their trading can be valued in Q or some other currency measurement such as a mutual fund [the QQQ perhaps] to spread the foundations of the currency further. Fiat money is as real as music, love and other abstract things on which we base our lives. Governments are notoriously inept at managing our lives, so I'm all in favour of another currency. I don't see why the world is likely to accept a perpetual tax by Uncle Al KBE and King George II. Every time Uncle Al KBE pixelates another bushel of dollars, it's a tax on all those holding dollars around the world. They don't see it, they don't feel it and the value of their dollars doesn't change, but the tax is real nonetheless. But while it's the best currency in town, it's not surprising that people are putting their trust in it. People around the world trust the USA to stay on an even keel and for Uncle Al KBE and King George II and acolytes to not get greedy and ruin the currency. That's why they keep using it. Many many decades and now centuries have shown the USA to be more sensible and able to run such a big thing than any contender. But the Q will win. It's under construction right now. Mqurice