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Jim Sinclair - Special Drawing Rights

ksammutksammut Posts: 1,074 ✭✭✭
in Precious Metals
Here is Jim Sinclair's take on Special Drawing Rights and other key topics.

Jim Sinclair Special Drawing Rights
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Comments

  • BearBear Posts: 18,953 ✭✭✭
    So we have worthless money, backed by nothing,

    buying long term bonds, backed by nothing. It's

    like fishing with an invisible hook , an imaginary

    worm and a missing line and pole.The only thing

    worthy of value in this confused world is Charmin Toilet

    paper and a lot of it to assuage the bottom line.
































    There once was a place called
    Camelotimage
  • OPAOPA Posts: 17,118 ✭✭✭✭✭
    You forgot the coffee & cigarettes. Oops I forgot, bears don't smoke or drink coffee.image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • fcfc Posts: 12,793 ✭✭✭
    gold is also just a lump of metal. odd how one could consider
    that to be money let alone paper bills. one could list all the failed
    currencies used over the centuries.. and heh. gold failed too bear.
    the proof is in the honey. what country on this planet still uses gold
    to back their currency? oh. there is none. thanks for playing.
  • BearBear Posts: 18,953 ✭✭✭
    The Swiss back their money with gold and silver.

    I do believe that we are in for a very difficult 3-5 years.

    To think that my youngest son is getting married in September.

    Well, at least they will have Poppa Bear as financial back up.

    The only problem, GULP, who backs up Poppa Bear!image
    There once was a place called
    Camelotimage
  • fcfc Posts: 12,793 ✭✭✭


    << <i>The Swiss back their money with gold and silver.

    I do believe that we are in for a very difficult 3-5 years.

    To think that my youngest son is getting married in September.

    Well, at least they will have Poppa Bear as financial back up.

    The only problem, GULP, who backs up Poppa Bear!image >>



    The Swiss franc has historically been considered a safe haven currency with virtually zero inflation and a legal requirement that a minimum 40% be backed by gold reserves.[4] However, this link to gold, which dates from the 1920s, was terminated on 1 May 2000 following a referendum regarding the Nazi gold affair with Swiss banks and an amendment to the Swiss Constitution.[5] By March 2005, following a gold selling program, the Swiss National Bank held 1,290 tonnes of gold in reserves which equated to 20% of their assets.[6]

    many countries have gold bullion stored away that may be a large
    percentage of their assets.. but what you are speaking of is history.
  • BearBear Posts: 18,953 ✭✭✭
    Gasp, does this mean that the back up for Swiss Money

    is just, chocolate bars? GASP!
    There once was a place called
    Camelotimage
  • fcfc Posts: 12,793 ✭✭✭


    << <i>Gasp, does this mean that the back up for Swiss Money

    is just, chocolate bars? GASP! >>



    well at least they are fine tasting chocolate bars!
  • BigEBigE Posts: 6,949 ✭✭✭
    Gold is just a blob of metal, people are 90% water and Trees are wothless due to real estate. I think I'd rather have a blob in my branch---------------------------------------------BigE
    I'm glad I am a Tree
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