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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (3566)	1/18/2006 10:41:13 AM
From: carranza2	Read Replies (4) \| Respond to of 217940

Ah, yes, the Iranian Oil Bourse, funded by Chinese dollars cashed into Euros to buy oil. And by anyone else who doesn't like the US and its dollar. Another nitwit scheme from the folks who have failed to do anything productive in centuries, whose idea of progress is terror and darkness and women in black sheets. The Bourse was supposed to start in 2005, but it didn't. For some reason. Saddam's conversion to Euros for Iraqi oil, the Oil-for-Food kind, despite the fact that it was a microscopically small amount in the big picture of things, supposedly lead to the war in the fevered imaginations of the Iranian Oil Bourse chicken littles. Now the Bourse is said to the be the catalyst for military action against Iran, never mind the real, not imaginary like Saddam's, nuclear plans and the fact that Iran's President is clinically insane, as are a bunch of the Mullahs. Yopu must read about the DVD showing Ahmadinejad discussing the green light that enveloped him during his speech at the UN. I think he believes he is the Islamic Messiah. All nice fantasies. All supposedly leading to the crushing of the dollar. And the US economy. Teotwawki, as you put it. What if the Euro doesn't do as well as predicted? If the Bourse had begun in 2005 as originally planned, it would have been bankrupt by now. Well, no, the Iranians would have still been selling their oil for vastly devalued oil to speculators, their Chinese friends having said goodbye to them. If major players had been forced to pay for Iranian oil in Euros, Americans would have had cheaper gasoline prices in 2005 and likely in 2006. China and its allies in the Bourse would have wasted many, many tranches and wallops and mountains of USD denominated assets. We would be thanking Iran for its venture. I suppose The Next Big Thing for all the fools who ignore markets for political reasons will be converting all those Euros into gold-backed Islamic dinars. I say the Islamists are working for us, doing the best they can to foster our empire, and we should act as if they are infact a threat. Scream bloody murder about the Bourse, rattle sabers, and book the profits later. I'm getting ideas for a best selling novel and the screenplay for Syriana II.

To: TobagoJack who wrote (3566)	1/18/2006 1:27:05 PM
From: Slagle	Read Replies (2) \| Respond to of 217940

TobagoJack Re: "Bad History" The piece by Krassimir Petros (and which is being posted everywhere)contains some pretty bad history. He states that there was a big inflation in the 1920's but in fact there was a great deal of deflation, especially in the very important farm sector long before the depression. And it is not true that Roosevelt moved to abandon the gold standard due to inflation of the paper currency during the "roaring 20's"; in fact there had been a powerful effort to take measures to inflate the currency on the part of populist politicians for a long time. And Roosevelt was largely reacting to these forces and also to the earlier abandonment of the gold standard by England. You had the William Jennings Bryan 1896 "Cross of Gold" speech and indeed an important element of Bryanism was the push to inflate the currency, at first through "free and unlimited coinage of silver". Later you had a whole faction of populists politicians who proudly proclaimed to be "inflationists"; their leader at the beginning of the New Deal being Senator Elmer Thomas, Democrat of Oklahoma. The inflationists enlisted the support of Walter Lippmann, who wrote a powerful editorial column calling for abandonment of the gold standard and extolling the virtues of currency inflation. The Lippmann column made FDR's task much easier. But there was much opposition to abandonment within Roosevelt's inner circle, especially Lew Douglas and Willie Woodin and Paul Warburg. Of course all the hard left New Dealers were inflationists. It could be that many of todays politicians may be closet inflationists and that Petros could have made his case even stronger by keeping his historical facts straight. Inflation today would serve the same political purpose today that it may have 80 years or more ago, by making lots of indebtedness easier to repay and I suppose would be a form of wealth redistribution which is the goal of the political left. Slagle