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About LargelyIgnorant

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  1. I see a bright future ahead, where our brilliant bankers continue with their wonderful 'product' innovations such as CLOs, CDOs, RMBS, etc etc.
  2. The goldbug central bankers sell off small bits of their vast hordes with great public hullaboo in order to show that gold is, to misquote Keynes, a barbarous relic, i.e. not real money. Occasionally they come across people with no economic training such as Gordon Brown who are convinced to sell even more than is prudent. This theory says that physical demand from ChIndOil goldbugs eventually gets to the point where the central banker goldbugs stop dishoarding through fear of being overrun.
  3. Thanks, gruffydd. http://www.bbc.co.uk/radio4/today/ Has the interview linked: http://www.bbc.co.uk/radio4/today/ram/toda...an_20070928.ram
  4. We don't live in a fully fiat system. All global currencies are backed by the petrodollar, which is backed by it's convertability to oil. Oil is the lifeblood to the modern economic system and if you want oil, you must buy it in dollars. The US enforces petrodollar convertability through overt military action and covert actions as described in The Economic Hitman. imo, the UK/USA alliance has already worked to control the price of gold, as evidenced by the bizarre method of the UK's gold sales. This has been done because the goldbug central bankers believe that if they suppress the price of gold, people will not notice that overprinting of dollars is making them (and their fiat children) progressively worth less. The market, as always, will out - people realise that the dollar is worth less even if gold isn't going mental, and start selling their oil in euro/yen, depegging their currencies from the dollar, etc. my guess is that the goldbug central bankers have already sold more than they are letting on, and will not want to dump their last bits because they know that the petrodollar will soon become the d0llar.
  5. Marc Faber again: http://www.financeasia.com/article.aspx?CIaNID=61744
  6. Can we start a STR group and invite Bruno to join?
  7. No, of course not. Buying a house now at the start of a credit crunch, at what looks like the top of the market is obviously negated by the fact that properdee only ever goes up. I'm sure that everyone on a website called housepricecrash.co.uk will agree.
  8. Say sterling loses value against the Euro - we engage in a competitve currency devaluation like China or the US; Then British goods get cheaper in Euroland -> people in the UK can get paid more pounds, but their wage in Euros can stay the same. The problem with this is that we are a net importer and it would increase inflation (although it would also decrease imports). But the UK gubmint isn't exactly known for the honesty of it's real cost of living inflation indicators. edit: pretty much what Control Freak just posted above, but if you make sterling worth less, you can pay Uk workers more of them
  9. There's an interesting sounding book on CBs, gold & money in this Bull not Bull article: http://bullnotbull.com/bull/node/48 Another one to add to the 'to read' pile
  10. Oh well, as it now looks as though HOL wanted to start another gold thread, there's a new book on gold & central banking mentioned in this recent bull not bull article on Greenspan, the Fed & the gold standard: http://bullnotbull.com/bull/node/48
  11. This is Mish's view: http://globaleconomicanalysis.blogspot.com...ce-to-hide.html [the 'Homestake Mining' hyperlink points to a (gold site) article on gold stocks in the depression] edit: link
  12. FTSE 1 Year: LSE 1 Year: FTSE & LSE 2 Year: It looks to me like it's just the Qatar Investment Authority gobbling up some of their spoils
  13. The deflationists such as Prechter and Mish also say hold gold... It's going to be slumpflation, 100% correct guaranteed
  14. Isn't it more to do with sovereign wealth funds chasing real financial assets?
  15. The congressman's questioning alone: http://www.youtube.com/watch?v=nBnKh6B2cMw
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