tag:blogger.com,1999:blog-830201814627063938.post1447084150157975111..comments2024-03-22T11:05:30.869+00:00Comments on Financial crisis? <br>It's a pyramid, stupid.: Currency wars: where will it end?Unknownnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-830201814627063938.post-7886151703009903612010-11-06T00:48:10.411+00:002010-11-06T00:48:10.411+00:00Jim Rogers "wrote" a postscriptum to thi...Jim Rogers "wrote" a postscriptum to this article. At a meeting with students at Balliol College (Oxford) he said: "“The power is shifting again from the financial centers to the producers of real goods,” he said. “The place to be is in commodities, raw materials, natural resources.” (http://www.bloomberg.com/news/2010-11-04/bernanke-doesn-t-understand-economics-investor-jim-rogers-tells-oxford.html)<br /><br />Mr Rogers words indicate the viability of the above scenario (new currencies based of rights to commodities) as the world started thinking (again) about re-basing money and the tangible value of commodities.Greg Pytelhttps://www.blogger.com/profile/15749997788308388129noreply@blogger.comtag:blogger.com,1999:blog-830201814627063938.post-49727067476230099382010-11-05T19:57:00.419+00:002010-11-05T19:57:00.419+00:00@Trying to make: I think you misunderstood my arti...@Trying to make: I think you misunderstood my article. I am not writing about baskets of commodities as currencies but rights to commodities as currencies. And rights, if properly defined in contracts and enshrined in law, are durable and not perishable? In fact such system already exists on the markets for years. I am simply writing that it looks as it may become more widespread, standardised and will take the role of currencies as a value store and mean to settle commercial contracts. So there is nothing new in essence that I suggest: simply improvement, standardisation and scaling up of what already exists.<br /><br />@R S: I do not have a view whether Tim Geithner is a bare faced liar. I simply point that if assurances of public officials, politicians worked we would not be in the current financial and economic mess. E.g. when Gordon Brown assured the British public (and indeed the world) that "we abolished boom and bust" was he a bare faced liar? I do not think it is a right way to approach the debate on the causes of the current crisis.Greg Pytelhttps://www.blogger.com/profile/15749997788308388129noreply@blogger.comtag:blogger.com,1999:blog-830201814627063938.post-62568888893832608562010-11-05T03:10:37.914+00:002010-11-05T03:10:37.914+00:00Greg - I fear you must be mistaken. Only a few wee...Greg - I fear you must be mistaken. Only a few weeks ago Tim Geithner stated that the USA supports a strong dollar. This statement was made at a time when plans for QE2 were crystallizing. Are you suggesting Tim Geithner is a bare faced liar?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-830201814627063938.post-56506366666104345642010-11-04T15:30:53.688+00:002010-11-04T15:30:53.688+00:00But don't commodities fail 2 measures of a via...But don't commodities fail 2 measures of a viable currency (or base for one) in that they are not durable and they are perishable?<br /><br />Has it not also been shown that they are open to price manipulation via natural causes (drought in Russia) or financial interfearance (the current Silver supression fraud cases against JP Morgan and HSBC). My point being they are not stable.Unknownhttps://www.blogger.com/profile/00561135741464635939noreply@blogger.comtag:blogger.com,1999:blog-830201814627063938.post-2613775813149701992010-11-04T13:15:23.471+00:002010-11-04T13:15:23.471+00:00I came across a link to Bitcoin which needs some f...I came across a link to Bitcoin which needs some form of explanation like they try to do here http://modeledbehavior.com/2010/06/30/bitcoin-and-the-wild-west/ - any thoughts?<br /><br />Their FAQ page is here http://www.bitcoin.org/faqToon_Bughttps://www.blogger.com/profile/01211815137257700274noreply@blogger.com