Sometimes silence resolves a conversation confused by Mad Misconstruction.
Printing money is merely taxation in another form. Rather than robbing citizens of their money, government robs their money of its purchasing power.
A federal bailout would spare California from having to make spending cuts needed to bring its budget into balance. The matter has become urgent since California voters rejected several tax-hiking ballot initiatives. Rather than taking the vote as a signal to dramatically curtail spending, the state turned to the feds. If they get a free pass, the politicians can avoid fixing any of their past mistakes or preparing California for the future.
The real bubble in China is in US Treasuries, in US dollars.
Printing money is merely taxation in another form.
Central banks are choosing to increase their gold holdings as a percentage of total reserves. They obviously think there is a reason to do that. It doesn't make sense to back up one currency with a hoard of other paper currencies. There needs to be a real anchor there. I think that central banks are well behind the curve. If you look at the percentage of above-ground gold controlled by central banks, it's historically low. Hence the fact that central banks are trying to increase their holdings. They've got a long way to go to get where they need to be.
Well, I don't like the UK. I haven't ever been a fan of the pound (sterling), and even though they are taking some steps in the right direction - more so than the US - in addressing some of their problems, I still think they're doing it much too slowly. So, I think that the pound will continue to lose value relative to some of these other currencies. I ultimately expect the pound to rise against the dollar, but that's not the best way to take advantage of dollar weakness.
My middle name really is perseverance. I've always believed that I had talent, even when I felt like a very inferior sort of person, which I spent a lot of time living my life feeling that I wasn't worthy. But even then I knew that I had something special, and maybe that's what it takes. Maybe people need to have that kind of particular core driving them. But I felt I had talent.
Its unadulterated belief in the oneness of God and a practical application of the truth of the brotherhood of man for those who are nominally within its fold are two distinctive contributions of Islam.
I think a lot, but I don't say much.
Fasting is not nearly so deadly as feasting.