New World Reserve Currency Proposed - Page 2 - Mercedes-Benz Forum

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post #11 of 42 (permalink) Old 03-23-2009, 11:48 PM Thread Starter
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Raise any flag, they will know anyway and there is nothing in the short term they could do.
We would have to pace the one in China. Too quick and most of the NeoCons would lose their WalMart shopping experience due to supply shortages and that would cause added employment issues and, potentially a rise in anti depressant usage as Neos everywhere would have to buy real socks and t-shirts.

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post #12 of 42 (permalink) Old 03-24-2009, 04:02 PM
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There would be several possibilities: My great favorite would be a new coin called the oil-dram. It would be small enough that even very pour people could have some. And countries would be less envious of each other when trillions would amount to peanuts by current standards (about 1880/US$).
Attention Limo Drivers of the Club de Paris: Ask your bosses to relax and not do anything crazy.
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post #13 of 42 (permalink) Old 03-24-2009, 04:07 PM
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Golden Rule.

He who has the gold, makes the rules.
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post #14 of 42 (permalink) Old 03-24-2009, 04:10 PM
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I did a lot of traveling back in the hippie days and a treaveling buddy of mine could never remember the names of all the local currencies so he would just call them Kazoonies. It always sounded good to me.
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post #15 of 42 (permalink) Old 03-24-2009, 06:47 PM Thread Starter
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Golden Rule.

He who has the gold, makes the rules.
What about he who puts it up as collateral?

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post #16 of 42 (permalink) Old 03-24-2009, 09:30 PM
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Nope
Nope

Quote:
In a congressional hearing on Capitol Hill, U.S. Rep. Michele Bachmann, a Minnesota Republican, asked Geithner: "Would you categorically renounce the United States moving away from the dollar and going to a global currency as suggested this morning by China and also by Russia, Mr Secretary?"

Geithner replied, "I would, yes."

She posed the same question to Bernanke, who said: "I would also."
http://www.reuters.com/article/GCA-B...53943020090324
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post #17 of 42 (permalink) Old 03-24-2009, 09:45 PM Thread Starter
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Nope
Nope
So where is that quote from since it isn't in the article? Link?


http://www.reuters.com/article/usDol...34732920090324

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post #18 of 42 (permalink) Old 03-24-2009, 09:50 PM
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As an intro to the article you took a swipe at Bush. Could you please provide a link to any Bush policy that provokes your posting the articvle?

Or is it possible that this Chinese proposal comes out just after Obama's 10 yr budget plan promises more debt than the total of GWashington through GBush? I think the Chinese are looking forward while you Bush haters are looking backward.

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post #19 of 42 (permalink) Old 03-24-2009, 09:53 PM Thread Starter
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As an intro to the article you took a swipe at Bush. Could you please provide a link to any Bush policy that provokes your posting the articvle?
What is an articvle? Should I correct that obvious misspelling or are you speaking in tongues?

In reference to links on Bush's Legacy, archival documents are available via search.

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post #20 of 42 (permalink) Old 03-24-2009, 09:59 PM Thread Starter
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As an intro to the article you took a swipe at Bush. Could you please provide a link to any Bush policy that provokes your posting the articvle?

Or is it possible that this Chinese proposal comes out just after Obama's 10 yr budget plan promises more debt than the total of GWashington through GBush? I think the Chinese are looking forward while you Bush haters are looking backward.
Actually, the 10 year does NOT promise more debt than the total of all previous Presidents. If you use the $9.3T as the projected benchmark and look at the Dept of Treasury's own web site which shows the 9/30/08 number of $10,024,724,896,912.49, and that is before the financial sector bailout which would also be on Bush's watch then you are off by at least $1.5Trillion.

Government - Historical Debt Outstanding - Annual 2000 - 2008

At least TRY and get you facts straight before trying to take a snipe. It just makes you look bad. And if you are going to edit, fix your spelling errors.

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