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

To: Andrew N. Cothran who wrote (1363)	2/5/2005 9:38:44 PM
From: Richnorth	Respond to of 224706

Perhaps I ought to have made my point clearer. What I had in mind was the manipulation and shorting of currencies on the backs of poor nations. BTW, the British pound has not been regarded as the world's reserve currency ever since the end of WWII and by some even earlier than that. ------------ By the way, here is a quote from Lawrence Parks of FAME:- "........I would like to think that the principals of Long-Term Capital, George Soros, and the principals of other hedge funds and the proprietary trading departments of banks and brokerage houses are not evil. I prefer to think it is the fiat money system that is evil and corrupt. However, it is extremely unlikely that those who are on the receiving end of so much unearned wealth will cooperate in changing the system." George Soros was roundly condemned by Dr. Mahathir of Malaysia for callously shorting the currencies of small nations like Malaysia. ---------------------- I am not against farmers hedging and maintaining futures positions. I say this because I realize that farmers are at the mercy of the elements year in, year out. Their primary aim in playing the futures is, first and foremost, self-preservation and protection, not amassing unearned wealth. You got your facts wrong about Nixon calling DeGaulle's bluff! By degrees, DeGaulle came to realize that the US government had been abusing the fact that its greenback was the world's reserve currency and, thinking that no one would ever question the might of the greenback, the US government had printed and circulated a lot of paper cash that was NOT actually backed by gold. Because DeGaulle was mistrustful (and rightly so!) he called Nixon's bluff and requested to exchange the paper greenbacks France had accumulated for real solid gold! Realizing that the US jig was up and being unable to exchange DeGaulle's US paper dollars with real yellow gold, Nixon was forced to capitulate by delinking the greenback from gold. And Americans like you got dumbed-down by your face-saving government into believing that it was Nixon who had called DeGaulle's bluff!!! LOL! Ever since the greenback got off the gold standard on Aug 15th 1971, the US has been printing paper cash with gay abandon. Just take a look at the National Debt clock since 1971. If your knowledge is up to snuff you will begin to see that the fiat greenback has made the US the greatest debtor in the world. And all this thanks to the excesses of fiat money which could easily be created out of thin air virtually in an instant. Did you know why gold soared beyond $800 in late 1979 and early 1980? To cut a long story short, it was because the world has lost confidence in the greenback. The US was in dire straits, weakened as it was by heavy spending during the Vietnam War years and by run-away inflation! What saved the day for the US was an international ploy of big banks in the US and in Europe to create paper gold and also to short the price of gold, big-time! Because of this conspiracy which guaranteed unearned wealth for the principal operators (which conspiracy has been proven by GATA) the greenback lives on. However, this and the fact that the US is the world's greatest debtor make many folks believe the US is living on borrowed time. During the stockmarket crash in 1929/1930 and the downtimes of the ensuing years the US did not flood the market with paper cash to "mitigate" hardships as it did in 1980 and in 2000, because way back then, the US govt. was not a savvy market player (it had no manipulator "Plunge-Protection Team") and the gold standard that was still in place acted as an effective checkrein on otherwise government's excesses and irresponsibility. Maybe you would like to refresh your memory which might have been dimmed by your numerous profitable or hedge trades by re-reading the following:- reasons2vote.com digitalnpq.org