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Author Topic: if you are old enough  (Read 542 times)
kathyp
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« on: March 26, 2009, 06:16:33 PM »

you'll remember that when the IMF started, people were complaining that this was going to lead to global redistribution of wealth.  a kind of global socialism.  well, it took a few decades, but it has arrived.

http://www.breitbart.com/article.php?id=CNG.18e9e5692442aa61d7510553b5ffc14e.8b1&show_article=1
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.....The greatest changes occur in their country without their cooperation. They are not even aware of precisely what has taken place. They suspect it; they have heard of the event by chance. More than that, they are unconcerned with the fortunes of their village, the safety of their streets, the fate of their church and its vestry. They think that such things have nothing to do with them, that they belong to a powerful stranger called “the government.” They enjoy these goods as tenants, without a sense of ownership, and never give a thought to how they might be improved.....

 Alexis de Tocqueville
Keith13
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« Reply #1 on: March 27, 2009, 07:39:30 AM »

Is this not the Euro but on a world wide scale? Granted the euros are great for us pesky Americans traveling Europe we don't have to worry about all the different currencies and conversions. But I do believe they are in a recession as well right now. The only thing this would stimulate is the BFE countries of the world It would destroy the major players in the global markets again making the rich pay for the poor. Did I miss Obama and NP taking over the IMF as well? rolleyes

Keith
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kathyp
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« Reply #2 on: March 27, 2009, 10:34:19 AM »

it's not as important which currency they  use, or if they  use multiple currency.  they used the dollar, not because of the strength of the US economy, but more because of the stability of our politics.  the strength of the dollar is a big +.  it's more about what they have been doing with the money and what they intend to do.  look toward the bottom of the article about policy toward developing countries.

 if they dump the dollar it's probably  not a good thing for us.  we would most likely see our dollar devalued even more. that would hurt investment, and might even cause dollar dumping.

now, if they go to a newly made international currency, that's a whole new can of worms.  i don't think that's exactly what they are talking about now, although i have heard it mentioned.  that would be the scary, one world stuff. what would back it?  how would you determine the value of a magically manufactured currency?

economics tangles my mind.  it's to mathy.
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.....The greatest changes occur in their country without their cooperation. They are not even aware of precisely what has taken place. They suspect it; they have heard of the event by chance. More than that, they are unconcerned with the fortunes of their village, the safety of their streets, the fate of their church and its vestry. They think that such things have nothing to do with them, that they belong to a powerful stranger called “the government.” They enjoy these goods as tenants, without a sense of ownership, and never give a thought to how they might be improved.....

 Alexis de Tocqueville
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