i guess i must be wrong, but ....

  1. dub
    33,892 Posts.
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    ..... I really don't care.


    With the next paragraph, I don't want to blow my own trumpet, I just don't want everyone here to write me off as the village idiot .....

    FWIW - which really isn't much at all - I've been a high flyer in my time - presenting my own paper at an international conference (the Hague 1994), and meeting with US officials in Washington DC at my own instigation.

    It was all so meaningful and complex - and I quit!

    Now I drive a cab a few days each week and look at things very simply.

    I'd like to state a simple belief I hold.

    You either believe in gold or in the US$.

    You can not do both!

    The US$, as the world's reserve currency, represents (and, to my mind, speaks for) all currencies. It's had that role since Bretton Woods. It lost its honesty as a result of the Nixon administration's action, and now represents all fiat currencies (and all currencies are!)

    I've been seeing the USA as being 'great' since the Second World War, but that's obviously wrong. I understand that it was the Wall Street collapse of October 1929 (really 1931?) that led the world into the Great Depression, so the USA must have been a country of great importance back then at least.

    And the USA is still the country of great importance - but that depends on the American ( world's) economy, and that depends on the US$.

    I believe the USA has been a truly great country - of freedom, of growth, of potential, of vision and of unfettered success.

    I think the USA is now just an immensely powerful country but only in a military sense.

    I hope that the USA will become a great country once again.

    But in the meantime I think the US/world market is false, and that words and paper have no real value.

    I believe gold does.

    But the devil is in the detail - eh, Grant. LOL

    Other than the simplicity of the choice - gold or the US$ - I've no idea why I started this. Guess 'twas the claret.

    But you must believe in one or the other, and that will set your course for the future.

    I stand by gold.


    intending tonight to revisit this post in 10 years time


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