[FoRK] Euro Bonds etc.
bill at wstoddard.com
Wed Jan 18 05:59:21 PST 2006
Adam L Beberg wrote:
> Bill Humphries wrote on 1/16/2006 2:02 PM:
>> On Jan 16, 2006, at 1:43 PM, Lucas Gonze wrote:
>>> What's March 20th?
>> 1. Google newsing around, it's the start of the Islamic Republic of
>> Iran's budget year.
>> 2. Third anniversary of the invasion of Iraq.
> March 20 the Petroeuro if born, when Iran starts selling oil for Euros.
> The dollar becomes completely irrelevant and thus worthless to anyone in
> Europe/Africa/Asia. You'd have to want to buy something made in America
> to want dollars. Right now everyone needs dollars to buy oil, people
> want oil. The only things I own made in America are the things I've made
> myself. Much of my food is from South America, even most of the labor
> around here is Mexican not American.
> China, Japan, and everyone else are having to issue almost daily denials
> that they are dumping dollars, because you just cannot hide transactions
> that big. Buffett and all the other billionaires are already out of the
> dollar or are fully hedged.
> The only other option is a full scale war with Iran, which King Bush
> cannot even start without forcing gas to $10/gallon, and cannot win
> without using nukes to glassify the entire middle east.
> Both have just about the same effect on the dollar. Complete meltdown as
> Bush prints money 24/7. Not that GM, the boomers, and other factors
> won't bring this about on their own. Our economy doesn't have one
> problem, it has ALL the problems.
> To what others said about returns, this isn't a long-term investment
> it's to get most assets out of the dollar for use later. Ideally,
> an E*trade type account where I can do most things
> stock/option/bonds/CDs, but in Euros.
> The problem with "just but the euro funds" here is that one of the first
> things governments in currency "situations" do is seize all assets in
> other currencies for their own use, and prevent you from making any new
> conversion out of the junk currency. i.e. all those funds will be taken
> from you. If you buy gold for example, you need to actually HAVE the
> gold in your possession, buy it with cash from many brokers, etc.
and physically store it in Oz, or HongKong, or Switzerland.
Oh, and you've been reading too much Marc Faber :)
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