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US will default US Treasuries held by China & Japan
US Will default on US Treasuries held by China and Japan Marc Peeters 08/27/04
Doubtful Finster 08/27/04
No, the Fedgov will pay... Chicagobear 08/27/04
But then China will get in a huff & threaten to stop sending... anthonyedwarde 08/27/04
As far as I understand it the Chinese will not stand in the ... Vangel Vesovski 08/28/04
Hey Seņor marc peeters....hahaha....I like you...hahaha.... Commandante Pachuco 08/27/04
hey Commandero, when we strap you to the bomb as a mascot yo... anthonyedwarde 08/28/04
Seņor anthonydwarf...hahaha...I don't need more fame...I... Commandante Pachuco 08/29/04
credit where credit's due. over here in these yon parts land... anthonyedwarde 08/30/04
mia comondante, Lucius Foster 09/02/04
attrition Kenmeer Livermaile 08/27/04
Tongue in cheek or simply daft? Vangel Vesovski 08/28/04
Daft Finster 08/28/04
Mr. Peeters's proposal to "nuke creditors into oblivion" ... Vangel Vesovski 08/28/04
On The Proper Use Of Nukes Finster 08/29/04
Actually, many of the Canadians on this board are quite soci... Vangel Vesovski 08/29/04
Canadians And Americans Finster 08/30/04
Polling data on this type of issue is quite clear. Canadian... Vangel Vesovski 09/02/04
Whew!!! Finster 09/02/04
an entire class Kenmeer Livermaile 08/28/04
Defaulting Selectively & Creatively Marc Peeters 08/29/04
default on treasuries ? len 08/29/04
world currency Gerd Boettcher 08/28/04
There will never be a world currency other than a monetary c... Vangel Vesovski 08/28/04
currency b 08/28/04
Your logic is totally wrong. If oil hits $75 per barrel few... Vangel Vesovski 08/28/04
If it takes 30 more dollars to by a barrel of oil, then buye... tbo 08/28/04
dollars are supplied by press runs, diluting the whole, depr... anthonyedwarde 08/28/04
Seņor Vanguel Is Right Finster 08/28/04
eh? Agent Tokyo 08/29/04
Careful... Vangel Vesovski 08/28/04
An aside on Keynes... bart 08/29/04
I think that it was Henry Hazlitt who pointed out that Keyne... Vangel Vesovski 08/29/04
Money, Credit and balancing. Lucius Foster 09/02/04
In currency terms DC 08/28/04
Faulty reasoning on default wetmore 08/28/04
Fiat currency & oil Ricardo Smith 08/29/04
NO DEFAULT FAST FRED 08/29/04
it is called... cherokee 09/03/04
Can You Clarify? Finster 09/03/04
yes, fed buys them... cherokee 09/03/04
Thanks Finster 09/03/04

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Date: August 27, 2004 08:52 PM
Author: Marc Peeters
Subject: US Will default on US Treasuries held by China and Japan

When the US government reaches a point of no return in their debt load they will simply default on the US Treasuries held by the Chinese and Japanese central banks and by foreign investors.

The default will be justified by the US government by saying that both Japan and China are unfair trading partners; that they are sponsors of terrorism and that they are major threats to US national security.

Colin Powell will go to the UN and show the world some power point slides with photos of dangerous looking Chinese and Japanese nuclear installations and he will then state that the US will not continue to honor any debts held by these axis of evil countries.

The US will then introduce a "new dollar" and start all over again with a clean balance sheet without the paper debt load held by the Asians and the other naive foreign investors.

Any attempts by foreign creditors to collect their dues from the Americans will be answered with American carrier battle groups and the planet's most dangerous arsenal of high tech nuclear weaponry.

It will be just like Argentina defaulting on their debt but unlike the Argentines the Americans can nuke any persistent creditor to oblivion.

(http://65.88.90.51/forums/Index.cfm?CFApp=3&Message_ID=180862)























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Date: August 28, 2004 08:08 AM
Author: Gerd Boettcher
Subject: world currency

maybe it pays to have a weak dollar when they introduce a world currency

there may be some other dynamics we have not thought of yet that could help out the USD

is there any place where one can read up on what the Fed is thinking, the Fed System as opposed to the Austrian System?

(http://65.88.90.51/forums/Index.cfm?CFApp=3&Message_ID=181064)



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Date: August 28, 2004 08:23 AM
Author: b
Subject: currency

as oil is the problem of late for the economy, if you want to believe that for a moment. let's say oilgoes way up to $75 barrel, ok what does that do to YEN EURO etc... it makes them less atractive. as well as the US $. but in this case the US $ is still the reserve currency even though it is a fiat currency, so are all the others. as the liklyhood of a global recession unfolds funds will be buying treasuries and the dollar. look for a down leg in gold to $325 or lower by December

(http://65.88.90.51/forums/Index.cfm?CFApp=3&Message_ID=181067)













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Date: August 29, 2004 04:19 AM
Author: Ricardo Smith
Subject: Fiat currency & oil

There is no real cuurency left anywhere on the planet. Bad money drives out good so we have al ended up on fiat. Due to WW2, the USA was placed at the center of the NWO system, for those countries outside the communist system, and a tentative lnk to gold was left to stop US politicians just monetizing the voters to re-elect them. Under Johnson, with his guns 'n butter policy of war and great society entitlements, he tried monetization anyway. De Gaulle called his bluff and the US was forced off the gold link, though not before De Gaulle was forced into exile in Ireland.

Off gold, and with communist Russia and China still loose to try and enslave everyone else, plus with the example of De Gaulle fresh in mind, no other country wished to cahllenge the new fiat system. Increasingly via coordinated G-7 meetings all were induced to go along with the phony money. America implied it wouldn't abuse [too much] its priviledged position. All had an interest in [what seemed to be](free) rising prosperity and living standards. Few in society understand how things reallly work, nor for the most part should they care. At some level, we all must trust that Alan Greenspan isn't a thief although we all know that he's a liar.

Unfortunately the benefit of fiat is all front loaded. As the problems increasingly arise, ever more complicated schemes must be devised to overcome the previous problem. Each monetization fix becomes bigger than the last and very fast we're way beyond any ability to tax or cutback to a fix. Borrowings increase because there is never any intention to repay in anything but inflated dollars. The financial ecomomy supplants the real economy. Which brings us to today. The evil empire no longer exists to unify us under America's leadership, while 2 other fiat currencies dominate in their economic areas. The euro in most of western Europe, with the 10 newbies to adopt it over the next few years. The Yuan in the Chinese empire trading area.

At present oil trades in dollars and since 1973 there has been a secret agreement between the US and Saudi Arabia that SA will always price its oil in dollars. Effectively till now, that meant OPEC would price in dollars. No matter the US domestic monetization, there would always be international demand for dollars. Now that is starting to change. With over 50% of Russia's import export trade going to Europe it incresingly makes sense to use euro rather than crossing back and forth via dollars. But that would mean pricing Russia's oil and gas in euro. Similarly with Norway's trade with Europe, but again that means pricing Norway's oil in euro. As China emerges as the second largest importer of oil after the US and as more of its export trade develops outside America, the pressure will soon exist to pay for trade in Yuan, once they float the Yuan. All this is probably less than a decade away.

It would make sense for all to make the transition in an orderly way, via a new grand economic council, rather than an abrupt dollar crisis, yet I doubt that it will happen. First it seems highly probable that Mr. Bush will win and will continue on with his spendthrift ways. Any adjustment hurts more in American, followed by western europe, as the reserve aspect of dollars becomes a duality then a triality. If anything, Mr Bush promises more spending and war, with plans to go back to the moon, launch for Mars and take-out NK and Iran. Mr Kerry says me too but faster, but anyway seems more interested in becoming President of France or the EU than America.

My point is, that readjustment just buys time for the fiat currencies, rather than a true fix. Until we get back to an honest exchange of goods for "money", the problem is just one of consuming today via fiat, our children's resources of tomorrow. After the state made us all bankrupt, in the past it has usually tried to take away our freedoms.

(http://65.88.90.51/forums/Index.cfm?CFApp=3&Message_ID=181502)