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the circular reasoning by moody's on italy is great....italy is okay because it has mkt access, but if it doesn't have mkt access we downgrade them, making it even more difficult....what a slippery slope
With all the abstraction in currencies now, even high governments cant define what money is. Debt itself is collapsing as a currency, because there is no backing for it. Enforcement is slipping away into willfull indentured servitude (IMF), which will ultimately fail.
The populations of the world define money as gold and silver; therefore a bottom up dictate will be forced to emerge at some point.
A significant gold/silver holding will be necessary for any new international currency introduction, this is unavoidable.
We'll close in the red today! And keep doing that until the "debt ceiling" will be raised! Then a nice pop followed by ... well who knows, another QE "program"?! Or ... ah who cares!
are you fucking asleep? gold hit all time intraday high 1578.61USD/oz 10:19pm 20110713AusEST
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