More Evidence Great Depression II Is Here: 30mm Unemployed in U.S. (19% of workforce)

[Scataphagos]

Quote from zdreg:

faith in any government to do the right thing is an oxymoron. the US government in collusion with wall street is the cause of this mess. now they are bailing out wall street with an inflationary binge which will destroy the private middle class except for gov't workers. I t is true in the US and in the UK.


americans and posters on ET are clueless to the goals of obama. he does not believe in free enterprise. he does not believe in the creation of wealth for the general population. he believes that corporations exist to serve the goals of his administration. he believes that fewer and bigger financial institution should be the result in order that he and his cadre will more easily be able to direct the flow of funds to their pet projects.

In other words, instead of "government of the people, by the people and for the people"...

Obama is all for, "elitist government at the expense of the people"....(Bush too, for that matter)

Kind of like Europe... before a few brave souls who'd "had it up to here" with government decided to head across the Atlantic...

 

[Misthos]

Quote from trefoil:

The dollar being the reserve currency is the result of our being by far the largest economy on the planet.

That's not exactly true. We were the largest shareholders in the IMF and WB (established by Bretton Woods system in 1944) because we had the most GOLD.

Prior to 1971, a foreign central bank could redeem their dollars for gold. That (Bretton Woods) system eventually collapsed as the US had more dollars in global circulation than gold reserves.

Now the global currency is basically an infinitely printable currency. No more gold anchor.

That's why the rest of the world, especially the BRIC nations, are kinda pissed off at the dollars' status. We have an expandable currency as the world's currency because we spent more than we had in gold. We collapsed the old system, and guess what? We are in the process of collapsing the current, post Bretton Woods system as well.

 

[Ivanovich]

Quote from Anaconda:

And yet after all that, you end up as a moderator of ET. Right, quite a story you got there. You been to Erevan? When and where? What's the address & the name of the place?

The moderator job isn't a full time gig, we both know that. You're grasping at straws because your argument is worthless (which we all can see).

I don't remember the address, but it was the Metropol hotel, near the southwest part of the city. Across the street is a good tea cafe, but the rooms weren't that bad. It was when we checked out of there that things got real "fun".

This was about 5 years ago, April. I might be able to dig up the air ticket - i keep most for souvenirs.

If you're going to continue to be an jerk to everyone, I'm just going to start deleting your posts. That goes for anyone in this thread picking a fight.

 

[Ivanovich]

Quote from Anaconda:

I don't daytrade stocks for pennies, fruitcake, the bullion I buy at a set price when I see it and instantly sell at a predetermined markup. AKA arbitrage, trading with an edge. Along with the commodity instruments for which you don't have the IQ to grasp, nor the capability to manage the creation of them. I daytraded for 4 years before getting into this.

Keep talking tough, cause I know you're just a punk bitch. Anytime you want to meet up and tell me face to face the insults you write so easily, I'm game.

Ah, and there it is. Can't win the verbal debate, so it comes down to "let's meet so I can beat you up." What's next? My dad can beat up your dad?

 

[zdreg]

you couldn't take the thought that obama takes orders from soros and his crowd. you had to delete the post. you are some kind of a cowboy. i agreed with an anaconda and you deleted both posts..
a cowardly act if there was ever one.

"If you're going to continue to be an jerk to everyone, I'm just going to start deleting your posts."

you already have.

do u have any honor?

 

[Ivanovich]

Quote from zdreg:

get a life. you couldn't take the thought that obama takes orders from soros and his crowd. you had to delete the post. you are some kind of a cowboy. i agreed with an anaconda and you deleted both posts..
a cowardly act if there was ever one.

"If you're going to continue to be an jerk to everyone, I'm just going to start deleting your posts."

you already have.

Sorry, once you guys got into your name calling and picking of fights, I just delete indiscriminately. Saves time.

If you continue, I'll continue. It's that simple.

Best of luck.

PS - I don't care what you say about Obama or Soros.

 

[zdreg]

"delete indiscriminately." that is truth. the reality is that you find some ideas so offense you will delete them no matter how they are presented. the idea that obama will prolong this economic mess while rescuing wall street is offensive to your ears. too bad.

 

[trefoil]

Quote from Misthos:

That's not exactly true. We were the largest shareholders in the IMF and WB (established by Bretton Woods system in 1944) because we had the most GOLD.

Prior to 1971, a foreign central bank could redeem their dollars for gold. That (Bretton Woods) system eventually collapsed as the US had more dollars in global circulation than gold reserves.

Now the global currency is basically an infinitely printable currency. No more gold anchor.

That's why the rest of the world, especially the BRIC nations, are kinda pissed off at the dollars' status. We have an expandable currency as the world's currency because we spent more than we had in gold. We collapsed the old system, and guess what? We are in the process of collapsing the current, post Bretton Woods system as well.

I disagree that it was only because we had the most gold. It helped that we won, and that we were by far the number one economic power coming out of WWII. I also don't think it's a disadvantage to the US.
Mundell, a Canadian and therefore a more or less objective observer on this stuff, delivered an excellent lecture on this years ago:

http://www.robertmundell.net/Menu/Main.asp?Type=5&Cat=10&ThemeName=Gold

Click on it, scroll to the middle, and download "The International Monetary System in the 21st Century: Could Gold Make a Comeback?"
Good stuff in there.

 

[Ivanovich]

Quote from zdreg:

"delete indiscriminately." that is truth. the reality is that you find some ideas so offense you will delete them no matter how they are presented. the idea that obama will prolong this economic mess while rescuing wall street is offensive to your ears. too bad.

If that were true, and I didn't want that said then I would delete your posts saying it now. I'm not, so you're mistaken.

Last warning. Get back on topic please, and refrain from trying to flame.

 

[buylo]

I hope the OP's are short if they feel so strongly. If you are concerned about a trendline moreso than the entire world dumping liquidity into the market, then I think you will be disappointed. This liquidity cycle is larger than anything we have ever seen before. But otherwise, opinions are just opinions so put your money where your mouth is and post some trades in real time and let's watch.