[e-gold-list] Subject: China & the paper dollar

[Smiling Curmudgeon]

Wulirider
Password wuli

Subject: China & the paper dollar
From: "James M. Ray" <jray at martincam.com>
Date: Thu, 09 Aug 2007 11:23:52 -0400
X-Message-Number: 2

M-banking and this article "China & the paper dollar"  are double
whamos, of many out there that are additional arrows into the chest of
the fiat money beast, long delayed death throngs.  If I remember
correctly 60% of all-l-l-l dollars held are off shore, and over 60% of
that amount is in China or Japan. Neither is good for America in
particular and the dollar in specific.

The credit collapse, well, the cascading effect now starting, could
easily go chaotic this time around, and be worse for all, in ways that
make the '30's Depression, a good memory, which is pushing the point.

In any case, all forms of e-currency, including e-gold, can and will
gain from these events.  IMHO, anything that moves me/us toward easy
access to real money a la gold and the Three companions thereof, is
good for everyone.

I am a strong free market advocate, and a student of Austrian
Economics of the Mises/ Rothbard school of sound economics.

Minor factoid, the US treasury collects 'old dollars' and takes them
out of the market, making new bills of $1, $5 through $100 and monthly
gets them into the market via the banks.  Of all the $100 bills, which
is 2-5% monthly, since the creation of the Federal reserve system,
HAVE NEVER BEEN RECYCLED!!  All the 100's since day one are out there,
in some suitcase, under some bed, being traded by folk around the
world!!

Anyway, all for e-currency and its inevitable impact on the statist
model of fiat money and fractional banking scheme that has done more
harm than the equally bad income tax system!!

Noel

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