| MDM, wrote on Tue, 31 March 2009 03:15 |
| YZ wrote on Mon, 30 March 2009 23:18 |
A unified currency is good.
Last week an acquaintance told me that his boss had made a wad of cash by trading currencies.
Over 4 days he got about 12% profit.
Not contributing anything to the economy of any place, not producing anything, not financing any development.
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A unified currency is NOT good..
the reason you can make money by trading currencies is because there is competition between them.
if you have a currency which is being devalued, you can get rid of that currency and buy another... or MOVE TO A DIFFERENT COUNTRY which has a better economic and monetary policy.
the IDEA of a unified currency is amazing, wonderful.. it's stupendous...
unfortunately, in the REAL WORLD, money is in the hands of power.. NO IFS, ANDS or BUTS...
when a handful of people will be able to inflate and deflate WORLDWIDE as they wish with nobody to check up on them, you will see money being worth less and less..
but perhaps the scariest part of international money is that it IMPLIES an international government... run by banks.
Barry,
I don't believe a word of what Obama says.. in the long run..
It's very hard for me to grasp that someone that was pulled out of college by Kissinger is going to revolutionize government for the better of citizens.
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Sorry, I just don't see what's good about the IDEA of currency trading, for the general population or our civilisation as a whole. The whole notion just seems terribly destructive to me in today's reality.
| Edvaard wrote on Tue, 31 March 2009 00:45 |
" “The Chinese are a little disingenuous in saying that it’s so bad that we (Chinese) own all these dollars,” former Fed Chairman Paul Volcker, an adviser to Obama, said at the Wall Street Journal’s “Future of Finance” conference in Washington. “They own all the dollars because they chose to buy the dollars and they didn’t want to sell the dollars.”
Thus spake the The Volckster.
More humorous stuff in the article.
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There are several paragraphs dedicated to Paul Volcker in the aforementioned book which, by the way, I really do recommend you all read. Had I mentioned that?
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Topic: 15 Things You Should Know About Obama's Plan (But Probably Don't) (Read 5334 times)