Comments on: Plummeting British Pound Leads to Worries of Another Currency Market "Black Wednesday" http://moneymorning.com/2010/03/10/plummeting-british-pound/ Global Investment News Tue, 14 Feb 2012 12:31:04 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Sven AERTS http://moneymorning.com/2010/03/10/plummeting-british-pound/comment-page-1/#comment-17369 Sven AERTS Fri, 12 Mar 2010 01:07:06 +0000 http://moneymorning.com/?p=18130#comment-17369 In the same newsletter you advise to invest in Germany = €-zone and in this article you applaud the "strong $" and don't mention a thing on the imho fundamentally weak health of the $ itself. I think a lot of EU companies and Gvts are happy the € is weakening a bit due to the fraud that the EU discovered regarding the Greek politicians haveing to covered up the bad debt situation they are in. Fortunately the EU found it out. In the same newsletter you advise to invest in Germany = €-zone and in this article you applaud the "strong $" and don't mention a thing on the imho fundamentally weak health of the $ itself.
I think a lot of EU companies and Gvts are happy the € is weakening a bit due to the fraud that the EU discovered regarding the Greek politicians haveing to covered up the bad debt situation they are in. Fortunately the EU found it out.

]]> By: Don Fishgrab http://moneymorning.com/2010/03/10/plummeting-british-pound/comment-page-1/#comment-17360 Don Fishgrab Thu, 11 Mar 2010 19:11:26 +0000 http://moneymorning.com/?p=18130#comment-17360 The more we become involved with a global economy, the more we are affected by what happens in other countries. In our present state, while we appear to be at the top of the World currencies, a major break by England or Europe could trigger a world wide crash. State deficits could also have the same effect, especially California. To top it all off, Congress seems to be ignoring the danger. The more we become involved with a global economy, the more we are affected by what happens in other countries. In our present state, while we appear to be at the top of the World currencies, a major break by England or Europe could trigger a world wide crash.

State deficits could also have the same effect, especially California.

To top it all off, Congress seems to be ignoring the danger.

]]> By: Richard http://moneymorning.com/2010/03/10/plummeting-british-pound/comment-page-1/#comment-17296 Richard Wed, 10 Mar 2010 15:24:09 +0000 http://moneymorning.com/?p=18130#comment-17296 All great stuff, but don't forget the 'Monster from the Id', i.e.; the debt monster. This unstoppable force controls all of this economic stuff and fuels the ongoing spend, pretend and extend policies of the world. Also, don't bet on the most indebted and fastest growing debt monster in the world, the good old US of A. The USA, through the common use of economic smoke and mirrors, unreal accounting practices, hide and seek mark-to-market of assests, off-the-books accounting, the Fed buying its bonds/printing money, manipulative lies about CPI, GDP, Unemployment and all of its 'for-public-consumption' information, is doomed. There isn't enough money on the planet nor can it be created fast enough to service the Monster from the Id!!! 0% interest rates aren't working - raising them will just implode this system of debt. The dollar is the 'Last-Train-to-Clarksville' and its destination is the end-of-the-line for all fiat currencies. The very visible solution to the current fiscal crisis is the ongoing creation of more money by all involved. This is just a bad movie with a horrific ending. The only question now is how bad can it get before everyone heads for the exits. Gold - At its current value: There is not enough of it anywhere to pay the Monster-from-the- ID what it is owed and continuously creating at light-speed. Gold at $ 1,100 has lost its 'juju' to solve the debt problem of any country on the planet. The US of A suppossedly has about 8,300 tonnes of the stuff, the most in the world, Sounds like a lot, doesn't it; however, don't let tonnes-of-gold fool you. If the US of A could liquidate it all at today's market price; it would pay for just 1/5th of its deficit for 2010, which doesn't include such off-the-books-accounting as the wars in Iraq and Afganistan, plus a whole bunch more stuff. Please also note that also not included are fiscal disasters facing its many bankrupt States. This should be a wake-up call for those that think the current unbacked-by-anything fiat money of the world will have any real value in the future. All great stuff, but don't forget the 'Monster from the Id', i.e.; the debt monster. This unstoppable force controls all of this economic stuff and fuels the ongoing spend, pretend and extend policies of the world. Also, don't bet on the most indebted and fastest growing debt monster in the world, the good old US of A. The USA, through the common use of economic smoke and mirrors, unreal accounting practices, hide and seek mark-to-market of assests, off-the-books accounting, the Fed buying its bonds/printing money, manipulative lies about CPI, GDP, Unemployment and all of its 'for-public-consumption' information, is doomed. There isn't enough money on the planet nor can it be created fast enough to service the Monster from the Id!!! 0% interest rates aren't working – raising them will just implode this system of debt. The dollar is the 'Last-Train-to-Clarksville' and its destination is the end-of-the-line for all fiat currencies. The very visible solution to the current fiscal crisis is the ongoing creation of more money by all involved. This is just a bad movie with a horrific ending. The only question now is how bad can it get before everyone heads for the exits.

Gold – At its current value: There is not enough of it anywhere to pay the Monster-from-the- ID what it is owed and continuously creating at light-speed. Gold at $ 1,100 has lost its 'juju' to solve the debt problem of any country on the planet. The US of A suppossedly has about 8,300 tonnes of the stuff, the most in the world, Sounds like a lot, doesn't it; however, don't let tonnes-of-gold fool you. If the US of A could liquidate it all at today's market price; it would pay for just 1/5th of its deficit for 2010, which doesn't include such off-the-books-accounting as the wars in Iraq and Afganistan, plus a whole bunch more stuff. Please also note that also not included are fiscal disasters facing its many bankrupt States. This should be a wake-up call for those that think the current unbacked-by-anything fiat money of the world will have any real value in the future.

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