[FoRK] Re: [silk] The Demise Of The Dollar
<aaron at bavariati.org> on
Mon Jun 4 12:57:08 PDT 2007
On Mon, Jun 04, 2007 at 03:16:17PM -0400, Stephen D. Williams wrote:
> Adam L Beberg wrote:
> > Eugen Leitl wrote on 6/4/2007 12:21 AM:
> >> The U.S. dollar took a big hit last week. From Kuwait. On May 20,
> >> Kuwait stopped pegging its currency, the dinar, to the U.S. dollar.
> >> You know your currency has become a 98-pound weakling when Kuwait can
> >> kick sand on it.
Muh? Kuwait ain't "boss of the beach" but don't they hold a significant
portion of our National Debt? Any further word on China's careful steps
toward buying assets (e.g. US businesses) with their dollars?
> > Nobody with any sense is keeping assets in dollars anymore. <snip>
> So it follows that the best place to hold debt is in dollars.
> Maybe that is someone's strategy.
Since I spent all my savings getting my BsEE, that's been mine. Maybe
US$35,000 in college loans will look smaller when my paycheck's in
Loonies or Euros. Meantime, we have a small house on a fixed-rate
mortgage. Debt in dollars, assets that're harder to lose, immigration
applications in process.
> > This topic is just boring, we're just sitting and waiting for the wild
> > ride to start, wondering only when not why/how/what.
Better topic, then: What's the worst outcome you think you should plan
for, and what are you doing to prepare?
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