Any bets that, immediately the Election ends, the dollar will collapse, Israel or it's proxy the US will attack Iran or etc, and oil & gold prices will explode.
Posted Oct 31, 2008, 10:46 PM UTC
03
In the lead up to the Election, there seems to be a calm before the tempest.
The dollar is inexplicably buoyant.
Oil is strangely low.
The Gold price is falling.
Israel has shut the fuck up about getting the US to bomb Iran for it every 5 minutes.
It's not looking good...
And what else have I missed?
0
Actually there sort of is an explanation for the dollar:
The Euro has some weak members. If Italy defaults on debt, nobody will touch the Euro as a replacement for the dollar.
Japan has debt amounting to 200%(!!!) of GDP. Makes our bailout look all managable and shit.
And after that, what? China is rich and has low debt - but they have weak laws, so nobody believes a balance sheet from a Chinese bank.
So, while I used to one of those people who thought the petrodollar would bring us frightening stagflation, and I even thought we could never do the borrowing needed for the bailout, I was wrong. And these are the reasons I was wrong.
We are, however, running out of luck. If we don't stop the war and get our energy shit together, it won't be pretty.
1
nope