Folks,
For those of you who are interested in what is happening to the US Dollar, here
is a summary:
1) The current US govt has been printing extra-ordinary amounts of money.
2) It is spending this money outside the US.
3) It is using tax payers money to keep US financial institutions solvent.
Inept management at financial institutions are being given more money. Some of
you experienced this Marxist policy in India and Africa a few decades ago and
know what the end results were.
4) The US Labour Dept reported today that the Producer Price Index
(wholesale inflation) rose by the highest rate in 27 years.
My old friend Mario Goveia wrote:
> Perhaps you missed some of the responses to your
> earlier email on gold hitting $1,650 sometime in the
> future, whereas it is now trading below $800, which is
> why I cautioned you. I'm sure those friends of yours
> will be glad to hear that they deserved their fate by
> acting on what they thought was a recommendation from
> an expert. Unfortunately, they may be unable to truly
> express themselves on Goanet because Goanet rules will
> not allow tham to:-))
Mario,
I have mentioned several times that you actually take away from a debate every
time you join one. This post of yours is the third one in a row that makes
absolutely no sense. If I did not know you better, I would think that you were
under the influence when you wrote all three last night.
Secondly, if the Goanet administrators allow your posts to go thru, anyone can
post fearlessly on Goanet.
Third, those who did buy gold at $1,000 are not complaining.
> Even investing Rs.1,000 in
> one-year bank fixed deposits in India will exceed
> $1,650 in a little more than five years, whereas those
> who bought gold at Rs1,000 are sitting on a huge loss
> right now.
I am going to ASSUME you meant an investment of $1,000. The best US
Dollar interest rate I could find at banks operating in India is 4.00
percent. As always, you present the first thing that comes to your head, which
is what I like about you. If you choose to answer this post, can you explain to
all here how you are going to turn Rs.1,000 (USD$24) or US$1,000 into USD$1,650
within five years.
> In the meantime, Lenin and his illogical static analyses, which assumed that
>people
> were so stupid that they would just continue inefficient policies and not
> respond to
> changing circumstances, have been consigned to the thrash heap of history,
> where
> they always belonged.
George Bush is doing exactly what you describe above. He has wound up just like
Lenin and is taking his country along the same path that Lenin did.
Mervyn3.0
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