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The time now is 04-12-2008 |
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Joined: 17 Oct 2003
Posts: 1735
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Seems to me its just America printing paper that has nothing to back it up with, its worthless if they themselfs can't pay back there own debt! America will go bust one day, the dollar will crash and be worthless, lol,
buy GOLD that'll hold its value in years to come.
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20-09-2008 |
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Joined: 02 Apr 2003
Posts: 344
Location: UK
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quote:
Originally posted by pjd1972:
Seems to me its just America printing paper that has nothing to back it up with, its worthless if they themselfs can't pay back there own debt! America will go bust one day, the dollar will crash and be worthless, lol,
buy GOLD that'll hold its value in years to come.
Hey, remember, gold is only a commodity that man has deemed to be worth something of value many centuries ago.
Think of this, what if it had been copper that had been labelled this way? hmmmm.....interesting.
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23-09-2008 |
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Joined: 02 Apr 2003
Posts: 344
Location: UK
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Re: reply
quote:
Originally posted by johnnymomo1:
the reason why america will not be hit as hard as the uk is the fact that their government will be pro-active in helping the financial industry, whereas take the northern rock incident, the bank of england or the gov could have stepped in straight away and the panic would not have happened.....this is one thing the usa have done well
Our government did not step in straight away was the right decision to make for a number of reasons.
Why should they set a precedence that if someone messes up that they will bail them out!? I for one knew that they would step in! Why did I know this? It is because they will not let a uk bank become solvent.
The reason why they didn't step in straight away is because they wanted to see if someone would take them over or buy them out and therefore keeping the business a private ownership. They also did not want to step in because the way the government bail people out is from the public coffers, i.e my money! The tax payers money! They also did not want to do this because it has several effects, it increases the national debt and goes a long way to increasing inflation and devaluing the pound.
Unlike the states, they have not got an inflation target to meet, where as the uk does, the Bank Of England has got an inflation target to hit, if the government go out and spend £80 million that increases inflation and has a domino effect on the whole system.
SO, I for one thought it was a good move not to step in straight away.
I do wish people would engage the brain and have a little think about these things before getting on the "USA is great" bandwagon.
Why America will not be hit as hard? Well, 2 Major investment banks going to the wall and the other top 2 having to start merger talks with alternate companies doesn't really say they have come out of it better than the UK.
The reason why people panicked about the Northern Rock incident was because the media got hold of it and sensationalised it. Banks borrowing from the BOE was a regular occurrence. The majority of the people that panicked were well over 65, purely because they didn't understand what was happening and again jumped on the bandwagon because, Joe's friends, wife's, neighbours, cousin called Harold said he was taking his 1500 quid out because it wasn't safe!
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Dane - P.
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23-09-2008 |
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Joined: 17 Oct 2003
Posts: 1735
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quote:
Originally posted by Sherrie:
quote:
Originally posted by Dane-P:
quote:
Originally posted by pjd1972:
Seems to me its just America printing paper that has nothing to back it up with, its worthless if they themselfs can't pay back there own debt! America will go bust one day, the dollar will crash and be worthless, lol,
buy GOLD that'll hold its value in years to come.
Hey, remember, gold is only a commodity that man has deemed to be worth something of value many centuries ago.
Think of this, what if it had been copper that had been labelled this way? hmmmm.....interesting.
Have you not seen the scrap prices lately 
What I'm saying is has America got anything to back up the paper its printing? Can it repay its debt, what happens if it can not?
_________________
if you dont own the original destroy backups within 24hrs.
"The game is about glory, it's about doing things in style and with a flourish, about going out and beating the other lot, not waiting for them to die of boredom"
Danny Blanchflower
*** Discount on discs? Logon to DiskDepot with - username: disqworld password: diskdepot ***
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24-09-2008 |
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Joined: 11 Oct 2004
Posts: 342
Location: In the Astral Plain
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America has one of the worlds biggest gold reserves known on the planet.
New oil fields have been discovered lately which will generate huge income for the USA.
The chance of the USA "going bankrupt". I'll pay your mortgage if that happens.
As silly as it seems, what happens in the States has a massive impact all around the world as the main currency of trade is the $ and if that were to collapse, it would without hysteria, plunge the global economy into a worldwide decline. So even with these factors, the global community would not allow this to happen.
Concerning the investors (or demolition men as quoted in one paper) with their tactics of under selling and naked under selling, in America the FBI have been called in to investigate, and if traders\organisations have been undermining the value of the US Stock Market by targeting institutions charges WILL be filed.
Sad to say, Gordon Brown has ruled this measure out for the UK stating the LSE will sort themselves out "but we will keep a close eye on things" what this says to the general public is anybodys guess. One train of thought is that MPs' are also involved, through their investment managers, in the huge wave of underselling and it would be embarassing to Parliament and the parties involved if this were to come to the attention of the British public!
jh
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27-09-2008 |
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