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

To: carranza2 who wrote (90730)	5/30/2012 7:41:19 AM
From: Maurice Winn	3 Recommendations Respond to of 218246

C2, you are quite right that there are major problems, but that doesn't mean they should throw out the baby with the bath water. A euro is a great idea [in the absence of my seriously good currency]. They just had some bung ideas about lending it and the size of governments, and socialism and bludgerism and bank bailouts and the like. Those are all separate from the actual issue and management of a euro. If Barclays goes bust, it's no biggie. Just put the assets on the block in the same way that Lehman Bros was sold to Barclays [in part] when Lehman went bust. The "problem" is just a problem for the creditors. Those owing money can be in trouble too if they are individuals or other private entities, but government debtors can just abrogate debt without consequence - though grumpy people like Haim would object and might not lend to them again. Which is of course a good thing. I do have a few euros but just enough for spending money. For decades I have had a rule to hold no more than enough to conduct essential transactions. Holding money as a store of value has been off my radar for about 4 decades. I get really nervous when holding cash for a while because the music might stop when I'm holding it. I am NOT suggesting the euro won't go down compared with other fiat currencies or gold. It is a metaphysical certitude that it will go down compared with real things because, as I explained, politicians have all my life and apparently always diluted any paper holdings as a means of transferring wealth from those who produced it to themselves and their acolytes. They will assuredly continue to do so. That means that they will favour their big banks and what they think of as "economic stability". They will "stimulate" with megatons of shovel ready money. You and I will not be recipients of shovel loads of said money though I would be keen to be stimulated. Mqurice PS: You can short me by shorting QCOM. Be careful, because looking through the local rag [here in London] about half the advertisements were for the swanky new Samsung Galaxy cyberphone and the like. That means QCOM will be receiving megatons of money. Shorting the future is quite a bad bet. Perhaps QCOM is not quite as connected to the future as I think, but it has certainly given every indication of being so since Irwin Jacobs and Andrew Viterbi created it nearly 30 years ago [in 1985]. You can also short me by shorting GSAT [though I have only a small holding, enough to "be in" - I am waiting for them to get their marketing plans right before I load up the truck].