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SPDR Gold Shares Message Board

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  • jzandmebuddies jzandmebuddies Aug 19, 2008 11:07 PM Flag

    If gold is such a sure thing......

    Our dollar is backed by conventional military might...Mainly our Air Force.....

    and if that isn't enough we have the marines,army,navy and 10,000 nuclear bombs.

    That is all it is backed by...

    this is an interesting time in history..the first time that the world power who economically is no longer cutting it... actually has the power to BLOW UP THE WORLD.

    I would say it is like all the kids on your block start a baseball team and the biggest toughest kid wants to pitch...He pitches great for the first two innings but then can no longer hit the strike zone....well that kid has a temper and none of the other kids have the balls to tell him that he has to change positions.

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    • >this is an interesting time in history..the first time that the world power who economically is no longer cutting it... actually has the power to BLOW UP THE WORLD.

      I would make the case that adolf might not have been such a smashing hit in the 1933 elections if Germany had not been in serious economic trouble. Germany never really recovered from the economic damage of WW I. The treaty of Versailles required reparation payments which the Germans could not make - you might say they were bankrupt. The payments were to be made in gold (not fiat) and I read somewhere that German scientists were even trying to extract residual gold from ocean water.

      Otherwise, you are on the right track; economic mayhem is very often accompanied by wars.

      There is another reason why the military is part of the picture. The Saudis and some other Middle East oil producers depend on the US for protection. That may be the main reason why they are obliged to take dollars for the oil. OTH, the number of oil producing allies has been shrinking for almost eight years now.

 
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