On Mar 13, 9:37=A0am, forbisga...@[EMAIL PROTECTED]
wrote:
> On Mar 13, 6:10=A0am, a...@[EMAIL PROTECTED]
(PeterBP) wrote:
>
> > Ping when US$ hits 1000 for 1 oz of Gold.
>
> > Game over, Bernanke.
>
> Not quite $1000
>
> http://www.bloomberg.com/index.html?Intro=3Dintro3
>
> =A0CURRENCIES
> =A0 =A0VALUE CHANGE % CHANGE
> EUR-USD 1.5593 0.0042 0.27
> USD-JPY 100.2000 -1.6000 -1.57
> GBP-USD 2.0364 0.0095 0.47
>
> =A0COMMODITY FUTURES
> =A0 =A0VALUE CHANGE % CHANGE
> Oil 109.71 -0.21 -0.19
> Gold 998.30 17.80 1.82
> Natural Gas 10.07 0.06 0.56
>
> > And what the **** does this have to do with either "wing"?
>
> Unfortunately, everything. =A0The right wing has been playing
> politics with the economy for decades now and the chickens
> are coming home to roost. =A0The left wing just hasn't had
> sway with the FED the way the right has and the left wing
> has tried to be mostly responsible when in power (They still
> buy votes but not on the same scale and at such high prices.)
The real problem now is that the Fed has basically ceased to hold any
control over the money supply. Low or zero interest rates, combined
with printing money based on nothing to keep institutions afloat.
That's not a recipe for Stagflation, as in the seventies. Interest
rates were kept high then, to limit inflation. What we have now is a
recipe for totally uncontrolled inflation: double-digits a month.
People have nothing whatsoever to invest in, so money ceases to have
any value. Money loses value by being in the bank, when interest
rates are kept below the rate of inflation.
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