Comments on: Useless Currencies of the World Unite! http://dailyreckoning.com/useless-currencies-of-the-world-unite/ Covering the economy, global markets and world politics. Sun, 22 Nov 2009 06:01:02 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: charlie http://dailyreckoning.com/useless-currencies-of-the-world-unite/#comment-4677 charlie Tue, 07 Apr 2009 11:21:06 +0000 http://dailyreckoning.com/?p=14390#comment-4677 <I>Is that why China now has a currency swap with Argentina? Because they are all talk?</I> China pegs their currency to the USD, so effectively they are one and the same. Loaning money to Argentina in RMB and expecting to be paid back in RMB is no different than loaning money in USD and expecting to be paid back in USD. This is another example of China trying to give the appearance of doing something ominous against the USD but on close examination, it means nothing. As long as China is pegged to the good old USD, they are strongly supporting it. Is that why China now has a currency swap with Argentina? Because they are all talk?

China pegs their currency to the USD, so effectively they are one and the same. Loaning money to Argentina in RMB and expecting to be paid back in RMB is no different than loaning money in USD and expecting to be paid back in USD.

This is another example of China trying to give the appearance of doing something ominous against the USD but on close examination, it means nothing.

As long as China is pegged to the good old USD, they are strongly supporting it.

]]> By: Henry Beamis http://dailyreckoning.com/useless-currencies-of-the-world-unite/#comment-4648 Henry Beamis Tue, 07 Apr 2009 04:52:44 +0000 http://dailyreckoning.com/?p=14390#comment-4648 What's all this talk of staples??? What am I going to do with $50,000 worth of staples???? I go through one maybe two boxes per year MAX!!! What’s all this talk of staples???

What am I going to do with $50,000 worth of staples????

I go through one maybe two boxes per year MAX!!!

]]> By: Henry Crinkle http://dailyreckoning.com/useless-currencies-of-the-world-unite/#comment-4647 Henry Crinkle Tue, 07 Apr 2009 04:49:31 +0000 http://dailyreckoning.com/?p=14390#comment-4647 How about a nice "Mark O' Da Beast' currency where money is simply digitized bits and bytes and you have this chip implanted into your hand or head that keeps track of all of your interactions down to the gumball-machine-level sale and communicates with the 'grid' to debit / credit your account? The beauty of it is that any alternative currency, including barter, could be made illegal under penalty of death! This way they can 'inflate' the currency all they like, you'll still use it if you're interested in respirating. No gold - no nothing... How about a nice “Mark O’ Da Beast’ currency where money is simply digitized bits and bytes and you have this chip implanted into your hand or head that keeps track of all of your interactions down to the gumball-machine-level sale and communicates with the ‘grid’ to debit / credit your account?

The beauty of it is that any alternative currency, including barter, could be made illegal under penalty of death!

This way they can ‘inflate’ the currency all they like, you’ll still use it if you’re interested in respirating.

No gold – no nothing…

]]> By: RJ http://dailyreckoning.com/useless-currencies-of-the-world-unite/#comment-4643 RJ Tue, 07 Apr 2009 03:54:01 +0000 http://dailyreckoning.com/?p=14390#comment-4643 I've got a great idea. The US can sell Iraq to the Chinese. They've got lots of soldiers. And for two trillion, we'll throw in Afghanistan as well. See, Cheney is a genius. I’ve got a great idea. The US can sell Iraq to the Chinese. They’ve got lots of soldiers. And for two trillion, we’ll throw in Afghanistan as well. See, Cheney is a genius.

]]> By: anonymous http://dailyreckoning.com/useless-currencies-of-the-world-unite/#comment-4636 anonymous Tue, 07 Apr 2009 03:11:56 +0000 http://dailyreckoning.com/?p=14390#comment-4636 Michael C: If you were to follow this article more closely, you would know that the Mogambo has in fact traded a portion of his useless fiat dollars (UFD) for such staples as you mention (along with plenty of cheap gin and whisky), and smartly stashed it all in his Mogambo Bunker Of Doom (MBOD), where he often takes refuge from the endless naggings of his ungrateful family. Michael C: If you were to follow this article more closely, you would know that the Mogambo has in fact traded a portion of his useless fiat dollars (UFD) for such staples as you mention (along with plenty of cheap gin and whisky), and smartly stashed it all in his Mogambo Bunker Of Doom (MBOD), where he often takes refuge from the endless naggings of his ungrateful family.

]]> By: MattS http://dailyreckoning.com/useless-currencies-of-the-world-unite/#comment-4633 MattS Tue, 07 Apr 2009 02:33:25 +0000 http://dailyreckoning.com/?p=14390#comment-4633 Not widely reported, but Obama told the group of four top bankers a week ago, that "his administration was the only thing standing between them and pitchforks." The WH would not allow a group photo with him in it, so all you saw in the MSM was a picture of them smiling as they walked down the White House driveway. (I think all this was only reported by POLITICO ). We live in interesting times! (Who was it that said he was out of stocks and bonds, and even precious metals, concentrating now on canned goods)? Not widely reported, but Obama told the group of four top bankers a week ago, that “his administration was the only thing standing between them and pitchforks.”

The WH would not allow a group photo with him in it, so all you saw in the MSM was a picture of them smiling as they walked down the White House driveway.
(I think all this was only reported by POLITICO ).

We live in interesting times!

(Who was it that said he was out of stocks and bonds, and even precious metals, concentrating now on canned goods)?

]]> By: scott c http://dailyreckoning.com/useless-currencies-of-the-world-unite/#comment-4624 scott c Tue, 07 Apr 2009 01:02:07 +0000 http://dailyreckoning.com/?p=14390#comment-4624 With trillions able to be created at the push of some buttons, the gold and silver markets will remain under control (which logically must be a top priority of the PPT or whoever looks after things) until serious physical supply issues arise. The Mogambo Guru's premise is that reality must prevail, which of course it will at some stage, but in the interim, it aint lookin good at all. Expect public confidence to wane dramatically when enterprises, desperate to reduce their costs, cut back on quality of goods & services produced. Things will start literally falling apart. Coupled with rising inflation, this will result in a lot of trouble... With trillions able to be created at the push of some buttons, the gold and silver markets will remain under control (which logically must be a top priority of the PPT or whoever looks after things) until serious physical supply issues arise.

The Mogambo Guru’s premise is that reality must prevail, which of course it will at some stage, but in the interim, it aint lookin good at all.

Expect public confidence to wane dramatically when enterprises, desperate to reduce their costs, cut back on quality of goods & services produced. Things will start literally falling apart. Coupled with rising inflation, this will result in a lot of trouble…

]]> By: Michael C. http://dailyreckoning.com/useless-currencies-of-the-world-unite/#comment-4608 Michael C. Mon, 06 Apr 2009 21:38:24 +0000 http://dailyreckoning.com/?p=14390#comment-4608 Dumping dollars for commodities like gold, silver, and oil are great but what about us little people? I have a little gold and a lot of silver but most of my commodity base is survivalistic. You know, beans, rice, flour, wheat, dried and canned milk, velvetta, diet Coke and diet Mountain Dew, fuel, and guns and ammo to protect it all including my pasty white butt (PWB). Why not also focus upon those things that will get you thru a deep depression with fresh minty breath, razor smooth face, and number one in the smell good department.. Why not divert a small portion of your bird cage liner (BCL), also known as dollars, into purchasing things you need now and will need in the future if you want to continue participating in this thing called life? It's simple, easy, and makes perfectly good sense. Something that Mogambo Guru should look into when he's not been sucking down bathtub gin and howling at the moon all night... Dumping dollars for commodities like gold, silver, and oil are great but what about us little people? I have a little gold and a lot of silver but most of my commodity base is survivalistic. You know, beans, rice, flour, wheat, dried and canned milk, velvetta, diet Coke and diet Mountain Dew, fuel, and guns and ammo to protect it all including my pasty white butt (PWB). Why not also focus upon those things that will get you thru a deep depression with fresh minty breath, razor smooth face, and number one in the smell good department..

Why not divert a small portion of your bird cage liner (BCL), also known as dollars, into purchasing things you need now and will need in the future if you want to continue participating in this thing called life? It’s simple, easy, and makes perfectly good sense. Something that Mogambo Guru should look into when he’s not been sucking down bathtub gin and howling at the moon all night…

]]> By: Don http://dailyreckoning.com/useless-currencies-of-the-world-unite/#comment-4601 Don Mon, 06 Apr 2009 20:56:45 +0000 http://dailyreckoning.com/?p=14390#comment-4601 The new currency should be uranium 235 in my opinion. Hehe. The new currency should be uranium 235 in my opinion. Hehe.

]]> By: StingingNettle http://dailyreckoning.com/useless-currencies-of-the-world-unite/#comment-4598 StingingNettle Mon, 06 Apr 2009 20:15:52 +0000 http://dailyreckoning.com/?p=14390#comment-4598 Is that why China now has a currency swap with Argentina? Because they are all talk? Is that why China now has a currency swap with Argentina? Because they are all talk?

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