Comments on: Saudis Nix Official OPEC Mention of Concern About the Dollar http://www.nakedcapitalism.com/2007/11/saudis-nix-official-opec-mention-of.html Sun, 22 Nov 2009 07:56:24 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Anonymous http://www.nakedcapitalism.com/2007/11/saudis-nix-official-opec-mention-of.html#comment-1748 Anonymous Sun, 18 Nov 2007 16:23:00 +0000 http://www.nakedcapitalism.com/2007/11/saudis-nix-official-opec-mention-of-concern-about-the-dollar/#comment-1748 The gulf states depend on the US for military protection, daily, in return we expect not only oil but their backing for the dollar and various agency paper. The gulf states depend on the US for military protection, daily, in return we expect not only oil but their backing for the dollar and various agency paper.

]]> By: russ http://www.nakedcapitalism.com/2007/11/saudis-nix-official-opec-mention-of.html#comment-1747 russ Sun, 18 Nov 2007 15:49:00 +0000 http://www.nakedcapitalism.com/2007/11/saudis-nix-official-opec-mention-of-concern-about-the-dollar/#comment-1747 If you don't mind me asking...<br/><br/>While I agree with your assessments of Greenspan and Bernanke, in terms of their trashing of the dollar and US credit issues...<br/><br/>I don't see why the euro or juan or yen is any better. Aren't they all fiat currencies? Doesn't the EU run budget deficits as well and also have massive entitlement costs to fund?<br/><br/>I guess I'd like to know why these other currencies are really more sound (other than a handful of commodity-backed currencies). If you don’t mind me asking…

While I agree with your assessments of Greenspan and Bernanke, in terms of their trashing of the dollar and US credit issues…

I don’t see why the euro or juan or yen is any better. Aren’t they all fiat currencies? Doesn’t the EU run budget deficits as well and also have massive entitlement costs to fund?

I guess I’d like to know why these other currencies are really more sound (other than a handful of commodity-backed currencies).

]]> By: Anonymous http://www.nakedcapitalism.com/2007/11/saudis-nix-official-opec-mention-of.html#comment-1744 Anonymous Sun, 18 Nov 2007 14:14:00 +0000 http://www.nakedcapitalism.com/2007/11/saudis-nix-official-opec-mention-of-concern-about-the-dollar/#comment-1744 "Paulson and Bernanke are directly responsible for this. They should both be fired and put in jail - as terrorists. Oh, the irony."<br/><br/>The true irony is that you somehow think this just all started with Paulson and Bernanke. First all wars are inflationary, the dollar has been falling since 2001 when "W" introduced tariffs on steel. If you need a little history look at Vietnam and the 70's when Nixon took the dollar off the gold standard. The CPI was reconfigured back in the Clinton with the blessing of Greenspan to screw SS recipients COLA. Our government and Congress is largely to blame for this whole damn stinking mess and they have also been the biggest beneficiary's of it.<br/><br/>Kevin “Paulson and Bernanke are directly responsible for this. They should both be fired and put in jail – as terrorists. Oh, the irony.”

The true irony is that you somehow think this just all started with Paulson and Bernanke. First all wars are inflationary, the dollar has been falling since 2001 when “W” introduced tariffs on steel. If you need a little history look at Vietnam and the 70’s when Nixon took the dollar off the gold standard. The CPI was reconfigured back in the Clinton with the blessing of Greenspan to screw SS recipients COLA. Our government and Congress is largely to blame for this whole damn stinking mess and they have also been the biggest beneficiary’s of it.

Kevin

]]> By: Independent Accountant http://www.nakedcapitalism.com/2007/11/saudis-nix-official-opec-mention-of.html#comment-1741 Independent Accountant Sun, 18 Nov 2007 07:33:00 +0000 http://www.nakedcapitalism.com/2007/11/saudis-nix-official-opec-mention-of-concern-about-the-dollar/#comment-1741 Who cares what they say? Does anyone remember what happened in 1967 when England devalued the pound? The Chancellor of the Exchequer (COE) denied the UK had plans to devalue the pound for months. Then the pound was devalued and the COE was asked, "what happened"? His response: do you think we would devalue the pound and tell people in advance giving the speculators an opportunity to profit? This incident led me to conclude in financial matters one should never believe anything a "finance minister" says, including our own Treasury Secretary. Who cares what they say? Does anyone remember what happened in 1967 when England devalued the pound? The Chancellor of the Exchequer (COE) denied the UK had plans to devalue the pound for months. Then the pound was devalued and the COE was asked, “what happened”? His response: do you think we would devalue the pound and tell people in advance giving the speculators an opportunity to profit? This incident led me to conclude in financial matters one should never believe anything a “finance minister” says, including our own Treasury Secretary.

]]> By: Anonymous http://www.nakedcapitalism.com/2007/11/saudis-nix-official-opec-mention-of.html#comment-1738 Anonymous Sun, 18 Nov 2007 06:34:00 +0000 http://www.nakedcapitalism.com/2007/11/saudis-nix-official-opec-mention-of-concern-about-the-dollar/#comment-1738 Paulson and Bernanke are directly responsible for this. They should both be fired and put in jail - as terrorists. Oh, the irony. Paulson and Bernanke are directly responsible for this. They should both be fired and put in jail – as terrorists. Oh, the irony.

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