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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Richnorth who wrote (1359)	2/5/2005 3:08:38 PM
From: Andrew N. Cothran	Read Replies (1) \| Respond to of 224705

As for "playing the currencies market", you will have to consult John Kerry's good friend George Soros about that. George rose from a nonentity to a multibillionaire by playing the British Pound when it was in great distress. Those were the days when Sterling was the international currency just as the greenback is today. I do not think it is immoral to "trade" the markets, whether one is trading pork bellies, soy beans, corn, gold or the Japanese Yen. Trading the market provides those who must live on the backs of commodities a ready means of fluid capital. And every farmer must know where that capital can be had if he is to get next year's crop in the ground. And I don't think that delinking the dollar from gold resulted in exploitation by Americans of non-Americans. It was simply Nixon's way of admitting that $35.00 an ounce was an unsustainable give away of America's treasure. Nixon called deGaulle's hand. deGaulle sought to trade in the greenback for $35.00 gold. He got away with it for a long time because of the utter economic stupidity of those bureaucrats who thought that they could control all currencies, including those tied to the price of gold. I made money then, trading gold futures. I make money now, trading the Yen, the Canadian dollar, and soon, perhaps, the Chinese Yuan once the Chinese wake up to the fact that the Yuan is vastly undervalued. Nothing contemptible about this. Nor is buying a chicken at the market based on market prices.