10 replies to this topic

[denleo]

I am looking at the sorry US Dollar and thinking. Why do we need it at all? We can't support it, we don't want to support it, and it certainly will not support itself. I remember from history that when we had problems with Gold standard, we just told everybody that we are not using it any more. So I propose to substitute US Dollar with S&P 500 index. We always support it, it can support itself, because it is based on earnings and they could report anything they want, and this has become our savings account. Imagine going to a grocery store and paying with crisp new S&P contract, which will proudly say "In Goldman Sacks We Trust" And if you ask me how we are going to measure S&P money (now it is measured in Dollars), I would propose to measure it NASDAQs. I think at the end it will be similar BS just like our current Dollar, but we will feel a lot better. Denleo

[OEXCHAOS]

That's pretty cute...

[NAV]

[Mtrader]

I should invest in companies making wheelbarrow. We are going to need it soon to take the dollars to the stores.

Edited by Mtrader, 11 October 2007 - 11:11 AM.

[Spectacular Bid]

I think the Nobel Prize is not out of reach.

[NAV]

But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation.

Ben Bernanke - Nov 2002

Edited by NAV, 11 October 2007 - 11:20 AM.

[Drano]

But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation.

Ben Bernanke - Nov 2002

I have a technology called a Xerox machine. But oddly, they won't let me use that to produce dollars.... and I'm just trying to help out...

[BigBadBear]

Every 1000pts on the way to DOW20,000 i will recite that statement from my head without looking like a 14yr old boy reciting the Koran at a Madrassa.

Never forget

But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation.

Ben Bernanke - Nov 2002

[IndexTrader]

I think the Nobel Prize is not out of reach.

I think Al Gore has that locked up.

IT

[spielchekr]

Just think. If the cashier shorts you, you will come out ahead.