Loading ...I never buy at the bottom and I always sell too soon. -Baron Rothschild
Man is a credulous animal, and must believe something; in the absence of good grounds for belief, he will be satisfied with bad ones. -Bertrand Russell
From Pailin’s blog over tub TF Metals Report=
We really are blessed in America. Not just because we have the World’s Reserve Currency. Not just because we have the most powerful (evil?) Central Bank of them all. But because everybody else -in power- goes along with this, and when push comes to shove, we export inflation and import real stuff paid for with fake stuff (handshakes with our fingers crossed). And the more we want, the more we get. Unreal. Feel for your brothers by another currency in this New Year. They don’t even have a choice in this.
EUR (again)
So our friends in the EU…they’re working just as hard today as they did last year and the year before (assuming they were and are employed 🙂 but…they just get paid less in dollars. Something to think about.
EUR is now under 2012 bottom and may be playing with the 2010 bottom of 118.7 soon. Hooboy.
Remember there was a grassroots move afoot (barely, mind you) to be paid in real money, you know…gold and/or silver? It didn’t really go farther than basic barter economy stuff (so off-book black market which can and will get you in trouble with the IRS! Cuz guess what? Swapping rounds for a milking cow, a tractor, or acreage…ain’t “in kind” 🙂 But imagine that movement did gain ground, at least enough that potential employers (and their HR donkeys) didn’t laugh you right back to the unemployment line?
So…like our poor friends in the EU…if you took a new job in late 2010 or early 2011…imagine being the smartest guy in the room and demanding your salary be denominated in ounces. Awesome yeah. Till you paid taxes on those “earnings” the following year. And had to sell some “salary ounces” to buy dollars to pay your taxes (the only way you can do it, buddy 🙂 But even worse…today, if you still had the same job and salary (or thereabouts) without any re-negotiation of terms, you’d still be getting paid in ounces and, aside from recent moves in gasoline prices, be facing record price inflation! Since the goods we regularly buy, the bills we regularly pay, are all denominated in dollars, you’d have to convert something out of every paycheck to make your monthly nut…or be really good at selling the highs and living below your means:) Sucks. Just like our EU, UK, and Russian friends. Something to think about. For sure 🙂
http://www.tfmetalsreport.com/forum/pailins-trading-corner/242?page=1981#comment-460118