""The USA holds the world's reserve currency.""
You're right Buzz. The dollar was once gold and later silver. After the civil war it could also be paper backed by gold and today the dollar is paper backed by the credit and word of congress. So if we get rid of the paper dollars too what is left? What will the dollar be? A debit card? If they do get rid of the $100 bills I'm taking Euros when I travel . They are readily accepted and the local BAC can order any amount.
""Never before in history, has a Reserve Currency set interest rates at "near zero"""
Interesting Buzz and I hope the USA can keep the reserve currency. Some serious economists( like Ken Rogoff of Harvard who by the way wrote the book"This time is different") are saying that the USA should get rid of the $100 bill. Why? Because it turns out 85% of them are outside of the USA and omg some are being used by criminals and according to Ken, Americans rarely have one in their wallets. I watched customs at the Houston airport count out a large amount of US cash that a Asian man was carrying and I don't know if he got the cash back before boarding a plane to Tokyo. A reserve currency should be easily used by everyone without worry that the USA won't honor the old $100's. Talk and actions like these will make other currencies more attractive in the future. The Euro even comes in a space saving 500 note now.
""Obama admits ‘we don’t have a strategy’ on ISIS in Syria""
GOOD! We don't need to get involved.
Good points Buzz, I think Russia wants and will get a land bridge to the Crimea through eastern Ukraine. No one to stop them.
""Buffett often buys into positions at under market prices. Prices you and I can't get.""
The $5 Billion Warren lent to Goldman comes to mind. Warren got preferred shares with a 10% dividend with warrents to buy the common at 115 later. Goldman's stock went up 11% on the news giving Buffett a instant $437 million paper profit.
""Covered 70% of remaining oil short, well in black.""
Nice. Your prediction for spx 2050 this year is looking good too.
""1am or so somewhere""
It's always 1 am something somewhere on the planet. When I post at 3pm in Tokyo it's 1 am in the U.S. central time zone. You are assuming everyone is in your time zone all the time.
Hey Buzz, good to see you're still preaching the facts. I'm still long so what day is the crash going to hit? O timing was perfect with his " buy, stocks are cheap" call March 9th 2009 so maybe O will tell us when to sell. My guess is when the GOP gets the white house and control of congress.
""Today I heard you must protect your wealth as O destroys the middle class and eliminates them"
more GOP lies just like the obamacare lies that didn't happen :since obamacare passed there are no death panels, no huge numbers loosing coverage. health cost is not soaring, no mass layoffs, most people are seeing no difference except that they don't have to fear what happens if they lose their current insurance. many are are getting coverage that was previously unavailable.
""Are you holding?""
Yes still holding ERX. About UCO, oil is weak and looks like it's due for a bounce.
""PeraBears put to shame""
Buzz you have been warning the bears of this board for years. How much money could they have made had they listened to you? Fed manipulation, valuations ,what ever the reasons don't matter. For five years the perma-bears have been wrong. 2000 is no big deal now. When I said 2000 2 years ago is seemed a stretch. I think 3000 is possible by 2017 as that would bring us close to 1999 valuations at current earning, which considering current long interest rates would not be as crazy.
""Will the USA ever default ???""
I agree Buzz the U.S will not default but, there is more than one kind of default. How about the debasement of the dollar you are talking about is that not another way of default? Will sell half of my XBI today. Thanks to Obamacare XBI went up fast since 2012.