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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (40509)	1/28/2013 6:39:05 PM
From: benwood	1 Recommendation Read Replies (1) \| Respond to of 48092

I liked much of what he suggested, but the idea that one can exploit a dysfunctional system with no expectation of consequence is a bit ludicrous to me. He's describing a primary m.o. of a banana republic. The fact that 'the current world economic environment is horribly dysfunctional, so why not exploit it?' carries the risk that some large entity (perhaps China) will eat their lunch at a time of it's own choosing. By eat their lunch, I mean effect some action that causes imports to the UK to skyrocket, thus crippling England's economy and/or citizenry and position on the world stage. England could pay it's citizens billions of dollars a day, if necessary, but will that actually help them prosper? We should check with Weimar Germany or Zimbabwe for a comment. Bank of England has printed so much money to buy up government bonds that it now owns more than a third of Britain’s entire debt. Now, it didn’t cost the Bank a single penny to buy all those bonds—it didn’t even have to buy any paper or ink to print the money; it’s all electronic now. So why not just cancel them? It wouldn’t cost anybody a thing; even if somehow it bankrupted the Bank of England, it could just print more money to recapitalize itself.