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Maybe I should have a little cash on hand.....

ttownttown Posts: 4,472 ✭✭✭
in Precious Metals
From the Drudge Report (developing):

Italian Prime Minister Berlusconi said political leaders discussing idea of closing world's financial markets while they 'rewrite the rules of international finance'... MORE




Berlusconi Says Leaders May Close World's Markets (Update1)

Comments

  • BobkBobk Posts: 593
    Yea, I read that. Thats comforting......not.
    Pecunia in arbotis non crescit.
  • HonoluluDudeHonoluluDude Posts: 2,167 ✭
    'rewrite the rules of international finance' = Make sh!t up on the fly
  • tincuptincup Posts: 5,186 ✭✭✭✭✭
    Yes, be prepared. Absolutely keep some cash on hand.

    The world WILL be changed for us. The old rules no longer apply. We have each placed our bets on the table, on what we feel will protect us the best, whether staying in stocks, load up on PM's, or food, or whatever. But I'm sure we will still have some surprises, and will probably still have our pockets emptied one way or another.
    ----- kj
  • DeadhorseDeadhorse Posts: 3,720 ✭
    Agreed, keep some cash on hand.

    I've got 2 months worth stashed away.

    The interest I'd earn is such a pittance, that I'd rather be safe than sorry.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • jamakinjamakin Posts: 1,055
    LOL
    they would just take the current" lie/ cheat /steal policy" and rework it to "cheat /steal/ lie" and think they saved the day
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    i took some out, too..USD to clarify

    felt weird, but then what doesn't now?

    edit that would be EURO's (the article) right ttown?

  • jmski52jmski52 Posts: 22,899 ✭✭✭✭✭
    It's wierd - that all those rolls of Presidential dollars I bought for no real reason - might actually function as cash someday (soon).

    Same goes for all those rolls of nickels I saved. And those State Quarter rolls that I kept buying even though I got rid of the first accumulations of them that I had saved.

    Maybe I'll spend some Ikes at Taco Bell. Dang, they'll probably call the cops on me if I try something like that.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • BigRedBigRed Posts: 716
    I just had a customer come in and say they had a CD coming due for $25,000 and they were going to take it in cash. If everyone takes out large amounts of cash from thier bank, what will that do?
  • ttownttown Posts: 4,472 ✭✭✭


    << <i>I just had a customer come in and say they had a CD coming due for $25,000 and they were going to take it in cash. If everyone takes out large amounts of cash from thier bank, what will that do? >>



    That would be called a bank run and they'd close them for sure. That's why I'm surprised that any country would put that out in the media to start a panic like that.image
  • DeadhorseDeadhorse Posts: 3,720 ✭
    I've been spending Ikes all over lately.

    Discovered I had over 40 rolls put up on a closet shelf and forgot all about them.

    It must have been years ago that I put them there.

    Not many people are happy when they have to accept them.

    Had to have a manager come over at the grocery store, the cashier didn't know what they were. image
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • ttownttown Posts: 4,472 ✭✭✭
    I've heard rumors for years that the US has money printed to circulate outside the US and use the present money for internal use, IIRC they were Red Notes. I'm not sure if how they would differ maybe backed by Gold. I not sure how true that rumor is but it's now looking interesting if this continues to DOW 5000/6000 range.
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>I've heard rumors for years that the US has money printed to circulate outside the US and use the present money for internal use, IIRC they were Red Notes. I'm not sure if how they would differ maybe backed by Gold. I not sure how true that rumor is but it's now looking interesting if this continues to DOW 5000/6000 range. >>



    Notes that circulated overseas were actually backed by a % of gold. That is, untill Nixon changed that in '73.

    Don't know about any "red" notes, but I have heard such rumors as well.

    Frankly, I've never believed them.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
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