Hey Folks. I just came across this article today. I won’t go into everything that I’m thinking about this tidbit of news, but for those of you who have taken my Financial Velocity webinar, you understand that this is a very significant event which has significant ramifications.
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6 Comments
theotherryan · June 16, 2010 at 5:51 pm
Interesting that they mention the Euro and Australian dollar. The Euro is in the tank. The Australian dollar is also having real issues as their economy is very commodity oriented and they have spending problems.
jamie · June 17, 2010 at 4:37 am
This topic is coming up a lot lately. I read a few articles at the Financial Times and Bloomberg that some of the brokers were talking about investing in food, guns and Barbed wire for personal use. Not sure how well that would work in some of the world’s financial cities 🙂
The moderator thought they were joking but these folk were serious and said they were not joking.
Randy · June 17, 2010 at 9:37 am
Financial stability is a real dinosaur nowadays as those who control global finances turn the thumbscrews on the people of the world creating handy crisis after crisis for which the same controlling interests find the “solutions” for the crises they have created. Preparedness is a must for the wise bystander.
quigath · June 17, 2010 at 6:20 pm
So what’s the story here? I have not taken Kellene’s class yet so maybe that’s why I don’t get it. Can someone help me out here?
If Russia wants to diversify their financial portfolio then what’s the problem there? Everyone knows the US dollar isn’t as valuable as it used to be.
jamie · June 18, 2010 at 3:51 am
You hit it with “Everyone knows the US dollar isn’t as valuable as it used to be.” The question is how do we we deal with the results. The dollar’s value is based on faith. It is not backed by any hard assets. If folks lose faith in the dollar it will be worth nothing.
I don’t blame countries not investing or holding the dollar. I think they are smart. The dollars selling point is “Hey we aren’t as bad as the Euro.” I don’t think that makes a good selling point. Plus if countries have no faith in the dollar why should your Average American?
jamie · June 18, 2010 at 5:32 am
I think the thing to ask is after all is said ind done in congress is can you afford fuel to work? To drive to work if you still have a job? Food & fuel inflation is here now and getting worse. Can you feed your family? How’s that 401k working out for you? Most lost 1/3 in value, your home most are underwater on loans. Fannie and Freddie de-listed on the stock exchange. Who will buy that bad paper?
But it is all okay because no one in the gov. is allowed to count food or energy as inflation. Not sure about most folks but an Ipad or an I phone is a want to have not need to have. How can I have to have food and gas every month. ALl the windmills in the world will not give me gas to put in my car. It won’t put diesel in semi’s that need to deliver food.
Comments are closed.