tag:blogger.com,1999:blog-17473688.post1932715318257311814..comments2024-03-28T17:31:22.152+08:00Comments on My Singapore News: One week to change the worldChua Chin Leng aka redbeanhttp://www.blogger.com/profile/11743716923635835397noreply@blogger.comBlogger17125tag:blogger.com,1999:blog-17473688.post-27851262451170599452008-10-14T10:42:00.000+08:002008-10-14T10:42:00.000+08:00Sounds a bit like the Swiss model to me. Still not...Sounds a bit like the Swiss model to me. Still not entirely sure why they went off the pseudo-gold standard.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-43626671170011314172008-10-14T00:09:00.000+08:002008-10-14T00:09:00.000+08:00to anon:I'll play the devils advocate here.With le...to anon:<BR/><BR/>I'll play the devils advocate here.<BR/><BR/>With legal tender laws, the govt is in a "no-lose" position.<BR/><BR/>Because of the legal tender laws (backed up by the guns of the police, treasury and whatever agency the prevailing administration decides to invent) people are FORCED to use the currency to trade (i.e. LIVE). Also all trades are subject to TAX (theft or extortion --Ⓜatilah $ingapura⚠️https://www.blogger.com/profile/02652498247201967379noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-80481357488594385912008-10-13T20:13:00.000+08:002008-10-13T20:13:00.000+08:00re: matilah_singapuraI'm not so sure - people are ...re: matilah_singapura<BR/><BR/>I'm not so sure - people are no longer optimistic about the American economy, and other central banks are finding it difficult to continue supporting the dollar (due to domestic inflation). There's still the on-going war, and when social security explodes in a few years... Bernanke seems to have given up on the value of the dollar.<BR/><BR/>A bond disaster and a Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-16262767686719841902008-10-13T19:55:00.000+08:002008-10-13T19:55:00.000+08:00> So do you see the dollar collapsing soon No I...<I> > So do you see the dollar collapsing soon </I><BR/><BR/>No I don't (as much as I might harbour a secret desire that it will).<BR/><BR/>The USD is the world's reserve currency. If there is collapse the whole damn system goes - especially govt debt markets.<BR/><BR/>There is only one sustainable way to wealth and therefore <B>human survival</B>: trade. Many people believe it's "production" Ⓜatilah $ingapura⚠️https://www.blogger.com/profile/02652498247201967379noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-22922088882934783852008-10-13T11:44:00.000+08:002008-10-13T11:44:00.000+08:00In reality the US Govt or for that matter all worl...In reality the US Govt or for that matter all world Govts, the Fed, IMF etc are actually clueless about how to deal with this crisis, just like you and me. The only solution they have been adopting is just pump money into the system. Whether it will work is still to be seen. But we are not seeing the end yet even if they solve the liquidity issue. The insurance sector is next, some pension funds Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-3799891625224545092008-10-12T22:16:00.000+08:002008-10-12T22:16:00.000+08:00So do you see the dollar collapsing soon - or will...So do you see the dollar collapsing soon - or will that Armageddon event be delayed again and we'll expect a recovery in (nominal) prices of real estate and stocks in the short-term?<BR/><BR/>I'm betting that hyperinflation will be the next stop. Much of the world is already in stagflation actually.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-83575152958745725962008-10-12T19:40:00.000+08:002008-10-12T19:40:00.000+08:00I'm not a banker. And I'm still smiling.I hate to ...I'm not a banker. And I'm still smiling.<BR/><BR/>I hate to say "I told you so".... actually I don't (but am restraining myself from crowing about it)Ⓜatilah $ingapura⚠️https://www.blogger.com/profile/02652498247201967379noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-10357820804973931362008-10-11T22:14:00.000+08:002008-10-11T22:14:00.000+08:00Banks are in trouble, Bank Customers are in troubl...Banks are in trouble, Bank Customers are in trouble, but many bankers maybe smiling.<BR/><BR/>patriotAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-66054399807631743842008-10-11T18:08:00.000+08:002008-10-11T18:08:00.000+08:00For those of you who are old enough, it's Oct 1987...For those of you who are old enough, it's Oct 1987 all over again.<BR/><BR/>Think of te possibilities :)Ⓜatilah $ingapura⚠️https://www.blogger.com/profile/02652498247201967379noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-68286525662483420392008-10-11T16:28:00.000+08:002008-10-11T16:28:00.000+08:00Who created the mess? The Federal Reserve and Amer...Who created the mess? The Federal Reserve and American government. For once accept the truth, people - it is times like these that we have to trust the free market and laissez faire.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-5308058727777917972008-10-11T16:26:00.000+08:002008-10-11T16:26:00.000+08:00And sad it is that the banks are to blame - this l...And sad it is that the banks are to blame - this leveraging had the full blessing of the state and central banks, and was in fact encouraged.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-50583584917266924612008-10-11T15:10:00.000+08:002008-10-11T15:10:00.000+08:00Before the tech bubble burst, Amazon.com's worth w...Before the tech bubble burst, Amazon.com's worth was even more than GM. And Amazon.com was just a run-down small office selling books on-line with little tangible assets. That is what wealth is built on since, just incredible. <BR/><BR/>All this illusion of wealth is created by the banks multiplying their lending ten-fold out of every dollar they receive in deposits. <BR/><BR/>This is not the Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-42822102055252728512008-10-11T14:14:00.000+08:002008-10-11T14:14:00.000+08:00What is collapsing right now is not capitalism - i...What is collapsing right now is not capitalism - it has NOTHING to do with capitalism. It has ALL to do with the monetary system i.e. state controlled fiat currency.<BR/><BR/>Looks like the entire world is taking a turn towards the left (socialism) - oh boy.<BR/><BR/>The American government is bankrupt (for a long while already, actually), and most American citizens are poor. But don't forget Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-77302241147678925782008-10-11T13:30:00.000+08:002008-10-11T13:30:00.000+08:00@#$@#$@#Haven't you guys read matilah_singapura's ...@#$@#$@#<BR/><BR/>Haven't you guys read matilah_singapura's posts?<BR/><BR/>It is NOT GREED. Sure there is GREED - and there will ALWAYS be greed under any economic system - but the MAIN PROBLEM is with STATE CONTROLLED FIAT MONEY.<BR/><BR/>Abolish central banks and their monopoly over the issuance of currency! Or at the very least insert constitutional ammendments to PRESERVE the purchasing Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-27257632867053552772008-10-11T10:27:00.000+08:002008-10-11T10:27:00.000+08:00Whether we like it or not, if the G8 countries go ...Whether we like it or not, if the G8 countries go under, all others will be dragged down too. The rest of the world are so dependent on USA and the EU. If they go, we go too. That is the way it is. Greed is our downfall.<BR/><BR/>Greed is everywhere, in USA, in Europe and very much alive in Singapore too.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17473688.post-34510071728971388462008-10-11T09:24:00.000+08:002008-10-11T09:24:00.000+08:00yep. remember how they walloped the govts of south...yep. remember how they walloped the govts of southeast Asia during the financial crisis? they thumped down even at suharto, twisting his arms to sign his death decree.<BR/><BR/>no saving of badly run financial institutions. let them fold.<BR/><BR/>karma is working very fast this time round.Chua Chin Leng aka redbeanhttps://www.blogger.com/profile/11743716923635835397noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-2229109450757875062008-10-11T09:18:00.000+08:002008-10-11T09:18:00.000+08:00Did you see how they rally to safe themselves? i d...Did you see how they rally to safe themselves? i dont mean $$ i mean for a culture.Anonymousnoreply@blogger.com