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DID HE REALLY SAY THAT?
Euro Pacific Capital ^
| October 1, 2006
| Peter Schiff
Posted on 10/01/2006 2:25:06 PM PDT by GodGunsGuts
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To: GodGunsGuts
What do you suppose would happen if the banks were suddenly flooded and required to pay interest on billions upon billions of US dollars that had previously been kept out of circulation?So you are saying banks would get the money? That Americans are not forced to pay interest on anything? Suddenly that doesn't sound so scary, does it?
21
posted on
10/01/2006 4:53:13 PM PDT
by
Toddsterpatriot
(Goldbugs, immune to logic and allergic to facts.)
To: Brilliant
No need. They can buy our debt instruments in order to keep their currencies down. Thus our money flows out of the country to buy cheap trinkets, whereas their profits purchase US debt instruments (to subsidize our profligate congress) that WE are obligated to pay. It's a win, win situation for them, whereas it's a lose, lose situation for us (because we pay twice!)--GGG
To: Toddsterpatriot
Not following you. Please explain.
To: USFRIENDINVICTORIA
long before the E.U. wises up and stops printing 500 notes? There is an assumption in your question that the people in charge of printing the Euro did not plan on this happening.
24
posted on
10/01/2006 4:58:43 PM PDT
by
Bernard
(Democrats are willing to defend terrorists' rights over your dead body.)
To: GodGunsGuts
There is a difference between, "Oh my God, Americans are suddenly forced to pay interest" and, "Foreigners deposit money in a bank and earn interest".
Do you understand now?
25
posted on
10/01/2006 4:59:51 PM PDT
by
Toddsterpatriot
(Goldbugs, immune to logic and allergic to facts.)
To: the invisib1e hand; GodGunsGuts
I never foresaw the euro being the currency of choice for local thugs -- only government-sponsored ones Yet Airbus still sells its aircraft in dollars.
26
posted on
10/01/2006 5:04:58 PM PDT
by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: GodGunsGuts
What do you suppose would happen if the banks were suddenly flooded and required to pay interest on billions upon billions of US dollars that had previously been kept out of circulation? Offer home loans at ridiculously low rates and drop the rate for savings? Decreasing the incentive to save money, and helping to inflate a housing bubble?
27
posted on
10/01/2006 5:05:45 PM PDT
by
Fraxinus
To: Toddsterpatriot; GodGunsGuts
call me the Green Hornet.
I wonder out loud if this phenomenon of The Big Mattress might explain the "condundrum" of low interest rates and low inflation (lots of money out there, but not out there driving up prices)?
To: USFRIENDINVICTORIA
"Wouldn't the fact that the 500 notes are at least 5 times as compact as the $100 bills have something to do with the switch?"One euro is about $1.27+/-. 5 euros is about $6.35. So, yes, 500 euros is at least 5 times more than $100. Even more than 6 times.
yitbos
29
posted on
10/01/2006 6:16:01 PM PDT
by
bruinbirdman
("Those who control language control minds. " - Ayn Rand)
To: the invisib1e hand
I wonder out loud if this phenomenon of The Big Mattress might explain the "condundrum" of low interest rates and low inflationI've wondered that as well. It could explain why M3 was discontinued. If that's the case, the Fed bashers will be deeply saddened.
30
posted on
10/01/2006 7:45:10 PM PDT
by
Toddsterpatriot
(Goldbugs, immune to logic and allergic to facts.)
To: Toddsterpatriot
Sounds to me like you are advocating the very thing the author is lamenting. Namely, the idea that inflation creates prosperity.
To: GodGunsGuts
Sounds to me like you are advocating the very thing the author is lamenting. Namely, the idea that inflation creates prosperity.Huh? Reading comprehension obviously is another of your weak points. Please show exactly where I advocate inflation to increase prosperity.
32
posted on
10/01/2006 8:03:18 PM PDT
by
Toddsterpatriot
(Goldbugs, immune to logic and allergic to facts.)
To: GodGunsGuts
"What do you suppose would happen if the banks were suddenly flooded and required to pay interest on billions upon billions of US dollars that had previously been kept out of circulation?"I suppose they would thank the depositor. All the banks I know would be happy to pay the going rate of interest for any deposit including foreign currency. That is virtually the definition of a bank.
If the deposit is worth $10,000 or more and the bank is in the U.S., I suppose they might tell Uncle Sam.
yitbos
33
posted on
10/01/2006 8:52:45 PM PDT
by
bruinbirdman
("Those who control language control minds. " - Ayn Rand)
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