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The Great Depression Ii?


Stu Peters

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I know people who work for the UN, the IMF and the International Finance Corporation.

 

All international trans-national organizations - just like the BIS - all offer income tax free salaries. Why - because you are working for bodies created by international treaty to coordinate relationships between states. These are quasi diplomatic positions and hence the agreement is that income tax isn't paid.

 

Call it a wease if you like, but it aint really a conspiracy.

 

Again - so what? What point are people making?

 

Wow, let me get my cock out too, see whose is bigger!

 

No-one is trying to make any points, we seem to have degenerated into a slanging match between some people who have a one view and others who have another view, which is fine, that's what life is all about. It'd be boring if we were all gullible, middle class drones who read the Financial Times, work in finance and think we're smart because we have a few extra digits on our bank balance than others.

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we seem to have degenerated into a slanging match between some people who have a one view and others who have another view.

 

Welcome to Manxforums!

 

;)

 

 

I had hoped it might be a place for a bit more intelligent discussion, but we seem to get the open-minded peeps on one side and the obstinate, Wiki/Google-loving saddo's on the other. Shouldn't have expected anything else really, it's just a reflection of the people who live on this rock, most who work in the anally retentive finance sector. You can usually spot them in their ill-fitting, pin-striped suits and pink shirts walking around town at lunch on their mobile before popping off to the masonic lodges to wank each other off with their special wankshake...sorry handshake.

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Wow, let me get my cock out too, see whose is bigger!

I expect your's is adorned with a solid gold Prince Albert.

 

Haha...like it! Let that be the last bit of humour on here though, the serious grandads don't like to get out of their comfort zone.

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we seem to get the open-minded peeps on one side and the obstinate, Wiki/Google-loving saddo's on the other. Shouldn't have expected anything else really, it's just a reflection of the people who live on this rock, most who work in the anally retentive finance sector. You can usually spot them in their ill-fitting, pin-striped suits and pink shirts walking around town at lunch on their mobile before popping off to the masonic lodges to wank each other off with their special handshake.

 

You are assuming an either - or - scenario, pigeonholing people as either one thing or another. That in itself is pretty close minded and arrogant. It is also not what people are ever like. People are much more layered and interesting than you seem to assume.

 

You are making huge assumptions about where people are coming from and what they are about. Both here and, it would seem, in the street. As is clear from the fact that you obviously judge people trivially by how they are dressed.

 

As far as the conversation "degenerating"; you have been arrogantly responsible for all of that degeneration.

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we seem to get the open-minded peeps on one side and the obstinate, Wiki/Google-loving saddo's on the other. Shouldn't have expected anything else really, it's just a reflection of the people who live on this rock, most who work in the anally retentive finance sector. You can usually spot them in their ill-fitting, pin-striped suits and pink shirts walking around town at lunch on their mobile before popping off to the masonic lodges to wank each other off with their special handshake.

 

You are assuming an either - or - scenario, pigeonholing people as either one thing or another. That in itself is pretty close minded and arrogant. It is also not what people are ever like. People are much more layered and interesting than you seem to assume.

 

You are making huge assumptions about where people are coming from and what they are about. Both here and, it would seem, in the street. As is clear from the fact that you obviously judge people trivially by how they are dressed.

 

As far as the conversation "degenerating"; you have been arrogantly responsible for all of that degeneration.

 

Haha...here's a bit of info to add to your vast intelligence bank, go and research the phrase 'tongue in cheek'....

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Haha...here's a bit of info to add to your vast intelligence bank, go and research the phrase 'tongue in cheek'....

 

Oh. The lame old "I was joking" defence. How disappointing.

 

Eh? I wasn't joking, it was exactly as I wrote it, tongue in cheek, surely that much was plainly obvious. It was obviously said to get a rise out of the likes of you, which it managed to do quite effectively. Have a read of it again and have a rethink Mr Literal.

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Anyone who is interested in global finance and issues around reserve currencies and the gold standard need to understand the Triffin Dilema - a Gold standard will not work as the need to supply currency backed to gold as the world economy grows requires the reserve currency nation to continuously run a capital account surplus - doing this isn't possible - eventually the Balance of Payments has to be restored - choking of supply and breaking the link between the reserve currency and gold.

 

The latest person to really put interesting proposals out concerning this was Zhou Xiaochuan, then governor of the People's Bank of China.

 

Link

 

What he is saying is really interesting on so many levels - it seems to be an attempt by China to map out a new currency era, where the dollar is replaced as the world's reserve currency. Such an event is a massive loss of prestige for the US, and so it needs to be managed carefully - what China is proposing to replace the dollar isn't the Chinese Yuan (RMB), but the IMF's reserve currency the Special Drawing Right.

 

Its a fascinating mix of real politic and liberal constiutionalism. China is binding itself into the international system, but it wants to modify it to its own advantage, breaking the reserve status of the dollar.

 

With a fiat currency reserve status is always a geopolitical thing. And purely and simply a gold standard cannot work in the long term - the reserve currency will always have a tendency to depreciate against the dollar as the world's economy expands - hence Nixon closing the gold window!

 

China is a wonderful counter balance to those who see finance being controlled by a cabal. Trying to get Zhou Xiaochuan to be a mason is really quite a task. I'd love to read some attempts!

 

The trouble is this is really esoteric stuff, but it can and does effect the value of money in your pocket. Hence all the speculations about it.

 

Zhou Xiaochuan is basically flying a kite - his ideas have very little chance of succeeding, but China's control of Special Drawing Rights has increased markedly in the last few years as China has demanded and got more control of the IMF.

 

The world is changing, and we are learning only slowly how to understand the flows of money around the world. That creates very real risks - central bankers don't really know what they are doing and the booms and busts of the last 10 years show that. The challenge is to keep trade and economies moving and stop nations following beggar thy neighbour policies to get out of trouble.

 

We'll see - we are doing better than the 1930s but only just!

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I had hoped it might be a place for a bit more intelligent discussion, but we seem to get the open-minded peeps on one side and the obstinate, Wiki/Google-loving saddo's on the other. Shouldn't have expected anything else really, it's just a reflection of the people who live on this rock, most who work in the anally retentive finance sector. You can usually spot them in their ill-fitting, pin-striped suits and pink shirts walking around town at lunch on their mobile before popping off to the masonic lodges to wank each other off with their special wankshake...sorry handshake.

There's a whiff of Salford 2.0 from this post, I think.

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China is a wonderful counter balance to those who see finance being controlled by a cabal. Trying to get Zhou Xiaochuan to be a mason is really quite a task. I'd love to read some attempts!

 

Oh dear!

 

What he is saying is really interesting on so many levels - it seems to be an attempt by China to map out a new currency era, where the dollar is replaced as the world's reserve currency. Such an event is a massive loss of prestige for the US, and so it needs to be managed carefully - what China is proposing to replace the dollar isn't the Chinese Yuan (RMB), but the IMF's reserve currency the Special Drawing Right.

 

 

Yes, it's Keynes' Bancor that will be the new global currency after they've finished with the dollar, with the RMB thrown into the SDR basket.

 

We'll see - we are doing better than the 1930s but only just!

 

You reckon?

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