Comments on: Buddy, Can You Spare $5 Trillion?

By: FromLori

FromLori — Tue, 14 Jul 2009 03:18:49 +0000

Do you think this should be taken as a sign as to how China feels about the dollar?

Congressman Mark Kirk: China to Buy $80 Billion Worth of Gold

Below is a must view video. Congressman Mark Kirk explains in detail China’s behind the scenes thinking about the dollar. Hint: They are going to buy two Forth Knox’s worth of gold.

http://www.economicpolicyjournal.com/

p.s. can you explain this for me?

http://www.marketskeptics.com/2009/06/14-trillion-collateral-behind-1144.html

By: constantnormal

constantnormal — Mon, 13 Jul 2009 17:38:15 +0000

@lw — interesting idea … I can easily see a rush to be the first to default on their national debts —

oops! Ecuador wins!

Now how will be the next to rush for the exit … the laggards will see their access to credit markets severed before they can act.

By: lw

lw — Sun, 12 Jul 2009 21:01:00 +0000

Seems like Japan would be fine without the debt. A 40 day “quick rinse” Ch. 11 should do the trick. In and out before the brand is harmed!

By: Bruce in Tn

Bruce in Tn — Sun, 12 Jul 2009 12:25:43 +0000

There is also the idea that if we are going further into debt, how much will it help us?

If we, for instance, bail out California today, will there be a “come to Jesus” movement in California, or will the bailout need to be repeated next year..I know what my vote would be…

And the debt that Obama is preaching here, is it productive debt? Or have we just decided once again about not taking the right course in the road.

I have been thinking about this…I think within two years, by global demand we are no longer the world’s currency. I would, merely guessing, think there will be something like the Euro, but on an International scale…call it the “Globo” if you will. Now we trade currencies bases on what we think the value of the Yen is to the Dollar, but in the future the Globo will be worth so many francs or dollars or yen.

You see the idea, and it is not new. But I suspect folks around the globe (and we all have fiat currencies) will want an international standard sooner than later…by not defending the creditworthiness of the dollar, the globo demand will rise until it becomes fact..

By: How the Common Man Sees It

How the Common Man Sees It — Sun, 12 Jul 2009 06:18:36 +0000

I don’t drink but you have convinced me that now is probably a good time to start…..except that, based on the info you provided, I can’t afford it. Talk about a catcha 22

It looks like the race to the bottom for currencies is about to start in earnest. I’m in gold myself and maybe I should pick up a few alcohol stocks for when this information gets into the collective consciousness.

I’m also predicting that government forced euthanasia (in order to save money of course) is closer than we think. It will apparently start in Japan. Possibly spread to Europe and land on US shores soon after. Of course, the rich will be exempt

By: zsc

zsc — Sun, 12 Jul 2009 05:42:01 +0000

This is why it is so good and so bad?
The crisis in the U.S. in nieruchomściach, bank affair, the virtual accounts. These are the facts. Gzdie out of the situation, the proposed exit from the crisis?

By: Steve Barry

Steve Barry — Sun, 12 Jul 2009 03:07:59 +0000

John, I have estimated that we already have 30 Trillion too much credit in the US and probably 50 Trillion globally. Your piece suggests we are nowhere near bringing this under control. It seems like we all are playing with monopoly money now. I fear that unless we can globally negotiate the largest peaceful debt restructuring of all-time, it will be done un-peacefully.

By: Bruce in Tn

Bruce in Tn — Sun, 12 Jul 2009 02:29:47 +0000

Thanks very much for this post. I will keep it in mind over the next two years.

Investing in the least stupid country…never thought I’d ever have to make that type of determination in my lifetime…

By: Its_Science

Its_Science — Sun, 12 Jul 2009 02:21:40 +0000

“Japan’s population is shrinking, and the number of workers per retiree is rising… Within a few years, because of the aging of the population, savings will go negative. ”

I assume this was supposed to read, “the number of retirees per worker is rising” or “the number of workers per retiree is falling” to make it consistent with the rest of the section.