tag:blogger.com,1999:blog-8078379512095504946.post8736565895540327643..comments2024-03-29T01:07:30.224-07:00Comments on Had Enough Therapy?: De-DollarizationStuart Schneidermanhttp://www.blogger.com/profile/12784043736879991769noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-8078379512095504946.post-66853120018546108792014-07-06T14:50:05.262-07:002014-07-06T14:50:05.262-07:00Mike Maloney gives the dollar a 2020 endgame, but ...Mike Maloney gives the dollar a 2020 endgame, but I'm no sure a goldbug has much to say to me.<br /><br />http://www.peakprosperity.com/podcast/86044/mike-maloney-dollar-we-know-will-gone-within-6-years<br /><br />It's easy to judge all fiat currencies always die, and fun to guess when, but the real question is where you want to be when a currency dies.<br /><br />Do you hold cash for a deflation crisis, or downsize your lifestyle to need less no matter what the future holds?Ares Olympushttps://www.blogger.com/profile/09726811306826601686noreply@blogger.comtag:blogger.com,1999:blog-8078379512095504946.post-61065726072038306802014-07-05T19:17:30.953-07:002014-07-05T19:17:30.953-07:00I agree with the prognosis as fake person Tyler Du...I agree with the prognosis as fake person Tyler Durden, at least in the long run, but when does the long run start?<br /><br />Still we can imagine some outraged person on 15 August 1971 complaining about Nixon taking the U.S. Dollar off the gold standard, and predicting this would lead to unlimited money printing, and the fall of the dollar from its international standard for trade. <br /><br />And surely with the stagflation of the 1970's someone would say the world is ending, and we need to prepare for hard times, well, like President Carter and his sweater, telling the American people to turn down the heat, and prepare to be ordinary.<br /><br />But then Reagan came along, and told us that the American Century was only beginning, and we learned how to charge everything, and nothing really bad happened, and everyone got richer, and now we got computers to get rich people even richer, sitting in their underwear at the kitchen table.<br /><br />So now, finally 43 years later, is America going to pay four our excesses? Is the demand for U.S. Dollars decreasing because our QE race to the bottom is almost as fast as every other world currency?<br /><br />Yes, it all has to end, and sooner than we want, but much much longer than any rational person would expect.<br /><br />So, let's prepare for the end of global economics, and all the advantages we have from owning the international currency of exchange, BUT...<br /><br />You know what's going to happen, right? A new global economic crisis, a new war or two until that doesn't work, and finally a new FDR savior, definitely from the left anyway, and 90% top tax bracket, and wealth redistribution and all that fun stuff that happens after people feel poor and envious and vengeful.<br /><br />Whatever is coming, I agree we're past the point of no return, and the financialization of the economy has a day of destiny.<br /><br />How much longer? My guess is 2 to 16 years, but I think it will end because of middle class revolt rather than external since everyone with means has a stake in U.S. markets as a flight to safety. So more it depends on how desperate the middle class are to keep law and order and their bank accounts and retirement funds intact.<br /><br />Ares Olympushttps://www.blogger.com/profile/09726811306826601686noreply@blogger.comtag:blogger.com,1999:blog-8078379512095504946.post-38161736118539743942014-07-05T12:13:31.960-07:002014-07-05T12:13:31.960-07:00The correction is coming soon. It will be signific...The correction is coming soon. It will be significant, and many will claim to be "surprised" by the shock and scale. This is what happens when government monetary and economic policies are tied to fairy tales (a la creating the 2008 MBS/CDO nightmare with Fan/Fred guaranteed mortgages). The Fed will say they didn't see it coming. The Obama Administration will blame it on greedy ______. And Elizabeth Warren will emerge from her tepee as the nation's goddess of social justice. <br /><br />TipAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8078379512095504946.post-70784027028407318302014-07-05T08:10:18.438-07:002014-07-05T08:10:18.438-07:00Of course you and Tyler are correct, Stuart. We s...Of course you and Tyler are correct, Stuart. We should pay attention to this and ignore it at our great peril. The devaluation of the dollar and zero interest rates are two of the main reasons the stock market keeps going up, up, up in a frightening way. I shudder to think what will happen when this house of cards comes crashing down....meanwhile, having some gold, silver and even some other staples on hand isn't a bad idea for any wise investor. <br />Webutantehttps://www.blogger.com/profile/02139954791621532194noreply@blogger.com