BERLUSCONI : LEADERS MAY CLOSE WORLD'S MARKETS

Deudge ^

[LS]

Perhaps we should “rewrite the laws of gravity” while we are at it, and cast all calories out of chocolate cake!

[Ultra Sonic 007]

?!?!

[Danae]

Japan’s market fell by what 10% last night...

[JennysCool]

Here’s what needs to happen.

Everybody forgives everybody else’s current debt.

We start over tomorrow.

Okay! Next problem, please ...

[djf]

Guess all those folks who droned on and on about stocks “buying and holding and staying in it for the long term” were right.

If the market closes, yur in it for the long term, like it or not!!

[babydubya1981]

HUH?!

This is scary!

[impeachedrapist]

LEADERS MAY CLOSE WORLD'S MARKETS

Then wherever shall I get my fresh fruit?

[ClayinVA]

Maybe, the tin foil hat brigade was right after all. Banking holiday for next week? I bet Survival Blog is going crazy right now.

[GnuHere]

Next problem:
Well, uh, I’m not in debt, but when is the bailout coming for my stock market losses?? I guess I could get more taxpayer money if I’d bought a house I couldn’t afford...

[M203M4]

If this is true...
I apologize to every Bircher I ever offended, LOL.

[Moonman62]

Berlusconi didn’t give any details about what kind of rules leaders were looking to change, except to say that leaders are ``talking about a new Bretton Woods.’’

Bretton Woods was an exchange rate fixing mechanism that was abused by the United States and led to the stagflation of the 1970's. No thanks.

[truthandlife]

What a stupid comment.

[Kay Ludlow]

I heard a couple of days ago this was being tossed around, so I'm only surprised that he said it out loud. While I think it's definitely the wrong thing to do, I'll be surprised if they DON'T choose this option. Meanwhile, behind closed doors, they'll come up with a new worldwide economic system, governed by an international group, that will allow them to sap the rest of the strength out of the USA.

[Jaded]

Mine too? That’d sure be cool.

[JennysCool]

You get a bailout because the utility companies have to forgive your last month’s debt, and so does your next door neighbor you borrowed that $20 from last week.

It’s a win-win for everybody.

(Actually, the more I think about it, the more I’m thinking most people and companies would come out pretty much even ... It’d make a pretty fun movie, anyway! ... )

[djf]

New Bretton Woods.

That means after coughing up 2 trillion or so to the bankers to cover their 2 mill bonuses and 400K spa treatments, they will tell all the grunts “It’s your patriotic duty to turn in your gold...”

[Danae]

I would imagine at this point that its a VERY real idea being tossed around. Look at it this way, what currency of what Nation is actually pegged to a commodity? Like God or Silver? There is none. Its all paper, literally pegged to an idea of Value. When the US up-pegged its currency from Silver, it allowed the currency to float on a value system, and if there is FAITH in that value of that idea it works great. But when that faith disappears... the paper is worthless. That's what we have happening here, the faith in the system has disappeared, no one knows what anything is worth anymore, they use the loose term “uncertainty” to describe that with out alarming anyone. They can “Fix” that by re-pegging Currency to a Commodity, like Gold or Silver which has real intrinsic value. BUT, for that to work, it would have to be done on a Global level at this point, because our markets are all so closely tied together. Most likely they would shut down the markets until such time as they could revalue the Currencies. I am not smart enough to even begin to unravel how complicated that would be. Or how painful.... But I think that it's coming. If you won gold, and have it in your hot little hands, you are sitting real pretty right now.

[JennysCool]

Mine too? That’d sure be cool.

Yeah -- everybody's -- people, companies, countries.

I'm guessing it'd come out pretty much even.

[Danae]

I meant to Say GOLD, but God isn’t a bad mis-spelling there ;)

[Thane_Banquo]

Markets heard this a few hours ago, long before the post was made.