Your dollars are just Monopoly money

[jtabeb]

No comment needed...


"Since Nixon severed gold from the greenback in 1971, the dollar's comparative value has fallen 97%. Money printing today will only hasten the currency's destruction.

[Related content: gold, financial services, currencies, investing strategy, Bill Fleckenstein]
By Bill FleckensteinMSN Money
This week's column is going to be a little different, as I'd like to discuss human nature and the paper we call money from a slightly different perspective.
How Nixon closed 'the gold window'

I was recently thinking about what has transpired in this country in the past decade: first the equity bubble, then the real estate/credit bubble and the steady debasement of the dollar (where a trickle of trouble threatens to turn into a flood). I have been struck by how few people seem to understand how all these events are related -- in that, at the root, they each have the irresponsible printing of money as the cause. (The sociological and psychological phenomena that go with that -- e.g., the regulators not doing their job -- are just part of the process.)
Each problem led to the next, and one year ago the financial system was bailed out at the risk of the country ultimately enduring a funding crisis...."




http://articles.moneycentral.msn.com...oly-money.aspx

[jpatter666]

Re: Your dollars are just Monopoly money

I follow Fleckenstein's site blog. He's my canary-in-the-coal-mine. Nearly always early, but usually right in the end.

Useful blog. Daily commentary, plus the ability to ask questions (which he responds to nearly daily).

Worth the minimal amount of $ he charges IMO.

[Starving Steve]

Re: Your dollars are just Monopoly money

No comment needed...


"Since Nixon severed gold from the greenback in 1971, the dollar's comparative value has fallen 97%. Money printing today will only hasten the currency's destruction.

[Related content: gold, financial services, currencies, investing strategy, Bill Fleckenstein]
By Bill FleckensteinMSN Money
This week's column is going to be a little different, as I'd like to discuss human nature and the paper we call money from a slightly different perspective.
How Nixon closed 'the gold window'

I was recently thinking about what has transpired in this country in the past decade: first the equity bubble, then the real estate/credit bubble and the steady debasement of the dollar (where a trickle of trouble threatens to turn into a flood). I have been struck by how few people seem to understand how all these events are related -- in that, at the root, they each have the irresponsible printing of money as the cause. (The sociological and psychological phenomena that go with that -- e.g., the regulators not doing their job -- are just part of the process.)
Each problem led to the next, and one year ago the financial system was bailed out at the risk of the country ultimately enduring a funding crisis...."




http://articles.moneycentral.msn.com...oly-money.aspx

We are now in the reckoning for the endless accommodative policies of Alan Greenspan and his partner, Ben Bernanke. They dug us into this mess, and they have no plan at all to get us out of it except to keep interest rates at or near zero, and forever. By trying "to dig-out by digging the debt-hole deeper," this depression in America is really the Greenspan-Bernanke debacle.

And why should anyone, including corporations, and govn't cut deficits when there is no interest rate cost to money? After all, digging deeper into debt is free, not to mention rewarding, and even fun.

[thriftyandboringinohio]

Re: Your dollars are just Monopoly money

And why should anyone, including corporations, and govn't cut deficits when there is no interest rate cost to money? After all, digging deeper into debt is free, not to mention rewarding, and even fun.

That's a fundamentally great question. Years ago I made peace with the idea that when the housing bubble collapsed, those of us who were frugal and responsible would go down like chumps will the reckless would somehow get away scott-free. Much of the same is still unfolding, though.

[jtabeb]

Re: Your dollars are just Monopoly money

Years ago I made peace with the idea that when the housing bubble collapsed, those of us who were frugal and responsible would go down like chumps will the reckless would somehow get away scott-free.

The Motto for our time "If you can get away with it, it's good!"

[Thailandnotes]

Re: Your dollars are just Monopoly money

half an acre
small house
paid off
a vegetable garden and canning jars
a couple of good hobbies
might be the only way to go

[jpatter666]

Re: Your dollars are just Monopoly money

half an acre
small house
paid off
a vegetable garden and canning jars
a couple of good hobbies
might be the only way to go

Yep. Our complete SHTF plans involve five acres (farming) on a lake (fish and water) in the country (deer/fowl/privacy/security).

[thisguy]

Re: Your dollars are just Monopoly money

Largest gold reserves by country - Europe loaded to the gills, Asia ... not so much. :cool:

http://www.fundmymutualfund.com/2009...y-country.html

[Kadriana]

Re: Your dollars are just Monopoly money

half an acre
small house
paid off
a vegetable garden and canning jars
a couple of good hobbies
might be the only way to go

This was my first year canning. It's a lot of work and much easier to just buy things from the store but it tastes so much better when you make it yourself.

Some sort of self sufficient lifestyle, even partial, is a lot harder than I think I lot of people realize.

[D-Mack]

Re: Your dollars are just Monopoly money

One good thing is, that the US has long streets

http://www.monopolycitystreets.com/game.html#en

[rabot10]

Re: Your dollars are just Monopoly money

half an acre
small house
paid off
a vegetable garden and canning jars
a couple of good hobbies
might be the only way to go

I hate guns but i have a few i think you may need one or two. jmho

[pwcmba]

Re: Your dollars are just Monopoly money

Funny - Portugal has been on my list of possible places to move when fleeing the USA. This clinches it!

[jacobdcoates]

Re: Your dollars are just Monopoly money

You only need 1 gun, Ammo on the other hand, is something one can not have too much of.

[jtabeb]

Re: Your dollars are just Monopoly money

I hate guns but i have a few i think you may need one or two. jmho

Or Ten? :eek:

[Jay]

Re: Your dollars are just Monopoly money

Gosh, I want to post here but that might swing it to rant and rave.