17-04-2013, 05:19 PM
The following thoughtful from The Slog
It is an interesting possibility.
If I owned over a trillion dollars of possibly soon to be worthless US dollars, I'd want to convert them into something more meaningful, like gold.
It would take someone far cleverer than I to argue that the existing US national debt of US$16.8 trillion, which is growing by thousands of dollars per second, can possibly continue much longer. But I'm old fashioned, because I can't help but believe that debt has to be repaid. But in the case of the US it can't be, it's impossible.
And if the US state can't repay its debt, then the question arises, why should anyone else even attempt to do so?
Quote:This is where low-tax, high-leverage, financial paper neocon paradigms end up and as if those fantasies weren't enough, the globalist mercantile trade joke overlaid upon it by Thoedore F**kwitt forty years ago is about to make currency trench-warfare the new bailout slaughter. Having crashed down to $1340 over the lst four days, the shiny gold-haven is today skiing crazily over a giant mowgli field: down $6, up $13, down $13, up $13 in the last in the last seven hours alone.
It's highly possible that while at first Beijing has been happy along with the other central banks to gobble up the manipulated metal at a knockdown price, there are now fears inside the Big C that this could turn into just another way for the US to block off a genuinely alternative investment route for them. Put another way, "Don't try and move out of our debt pile slant-eyes, or we'll render your gold worthless". Oddly enough, in the last hour I got this from a Slogger along similar lines:
An angle not covered in the gold price fall is the possibility of a power play between China and the US. The Chinese were keen to divert out of the manipulated US Treasury market into gold. Now the Fed is showing that they can manipulate gold too! The message the US is presumably trying to send is that the Chinese are cornered when it comes to investing the proceeds of their trade surplus with the US.'
It is an interesting possibility.
If I owned over a trillion dollars of possibly soon to be worthless US dollars, I'd want to convert them into something more meaningful, like gold.
It would take someone far cleverer than I to argue that the existing US national debt of US$16.8 trillion, which is growing by thousands of dollars per second, can possibly continue much longer. But I'm old fashioned, because I can't help but believe that debt has to be repaid. But in the case of the US it can't be, it's impossible.
And if the US state can't repay its debt, then the question arises, why should anyone else even attempt to do so?
The shadow is a moral problem that challenges the whole ego-personality, for no one can become conscious of the shadow without considerable moral effort. To become conscious of it involves recognizing the dark aspects of the personality as present and real. This act is the essential condition for any kind of self-knowledge.
Carl Jung - Aion (1951). CW 9, Part II: P.14