FDIC Chairwoman Sheila Bair Says Your Money's Safe, hahaha

[makloda]

Quote from Anaconda:You're the one with very limited knowledge and obviously an inability to understand anything semi-complicated.

Understand what? Money supply, budget and trade deficit? You're telling me I should actually trade currencies off of that? Please, spare me. If you followed your own advice you'd very likely blow up in record time.

 

[ipatent]

Quote from Misthos:

I've been planning on doing the same thing, however, I do believe that the US dollar will spike again in a couple months. I'm holding off for a better rate of exchange.

Am I crazy to wait?

My guess is that another banking shakeout is coming and the dollar will rally like it did the last time.

 

[Kassz007]

Quote from the1:


The current monetary system will eventually collapse. We know it and the government knows it. It will be replaced by a one-world currency and everyone will hit the reset button. Be sure to get rid of your debt before that happens because it will still be there. Oh, and all that money under your mattress? Yeah, that'll be worthless. If it's not in the bank it won't get converted. They gotcha by the balls

........ And what are your thoughts on Area 51?

 

[Kassz007]

Quote from Anaconda:

Until then, STFU unless you are ready to come to NYC and say it to my face.
[/B]

Classic Anaconda line! Clearly he's tough as nails...LOL

 

[Anaconda]

Quote from makloda:

You're telling me I should actually trade currencies off of that?

I have NEVER stated anything of the sort. I have never in my life suggested a FOREX trade because I am fully aware of the mechanics & forces behind it. I don't trade Forex, never have, never will and rarely had any interest in a market that is controlled by central banks. I specifically quoted your sarcastic remark on USA being broke & Bernanke printing dollars to illustrate the idiocy behind your sarcasm.
The matter of fact is that the closest to hard currency available in the currency markets are the Euro with less than half of a percent of gold tied to it and dropping, and Swiss Franc, which technically stopped being a hard currency around 2002. So one fiat versus another fiat with all of the major central banks printing at record pace really just makes it a guessing game of which currency is devaluing faster at the particular time.

 

[Lethn]

Please correct me if I'm mistaken, just wanted to ask a quick question but doesn't China and Russia actually have gold backing the majority of their currencies?

 

[makloda]

Quote from Anaconda:

I specifically quoted your sarcastic remark on USA being broke & Bernanke printing dollars to illustrate the idiocy behind your sarcasm.
The matter of fact is that the closest to hard currency available in the currency markets are the Euro with less than half of a percent of gold tied to it and dropping, and Swiss Franc, which technically stopped being a hard currency around 2002. So one fiat versus another fiat with all of the major central banks printing at record pace really just makes it a guessing game of which currency is devaluing faster at the particular time.

So... why did you reply to my original comment again? Just so you can tell me about the gold standard?

I said all the quasi-fundamental "USA is broke, Bernanke printing 24/7" noise does not guarantee the USD will go down in a straight line without sharp counter rallies, otherwise it would mean shorting the USD with 10x leverage was a risk free trade.

But you don't get that. Instead, you respond telling me about fiat currencies and twin deficits everybody and their mom has been reading about for the last 25 years in gold bug doomsday newsletters? This gibberish actually makes you feel "knowledgeable"? Good God.

You are a waste of my time.

 

[the1]

Another ET thread turns into a knock-down, drag-out. This site is so entertaining

 

[Angrycat]

Quote from ASusilovic:

Well, I am converting all USD assets into EUR on a daily basis and put them with AAA European banks.

I don' t trust the Federal Reserve System and the US banking system anymore.

What about the Swiss Franc? Seems like it would be a safe harbour currency.

 

[Anaconda]

Quote from makloda:


You are a waste of my time.

You are a waste of a human brain. Your assumptions are wrong, stupid & ignorant. And you obviously lack the ability to comprehend what I wrote or why there is a belief that the USA is broke. And apparently you lack basic observational skills as you would have notice the obvious eroding power of USD over years, let alone decades.

Like I originally thought. Mental disability.