All this talk about 'debt' ceilings reminds me of a guy who ran for President at my high school. Part of his `platform` included `raising` the ceilings he figured to be too low and thus unhealthy.
Lemme tell ya, it was something out of Napoleon Dynamite listening to him.
Except it wasn't 'vote for Pedro.' It was vote for Hans.
Poor Hans. What ever happened to him? Gotta be in politics I reckon.
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Speaking of the U.S. economy. All this "keep us solvent for another day' crap is useless over the long-term.
It has to be about the dollar. It is about the wicked swings of the U.S. dollar and perhaps the psychological attachment to wanting to be the world's currency. The case for the gold standard is compelling.
Besides, does paper money really exist anymore with the 'swift' system in place?
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I remember when I started out in the financial world, the precious metals fund for my bank was $4. I think it's pushing $100 nearly 15 years later. I distinctly remember a couple of guys in my office pleading people "bet on precious metals.' It was heresy to a mindset that preached a "balanced" approach to investing.
Fuck that, chase the money was how they saw it. The philosophy of "portfolio management" is not practiced by all that's for sure.
I think I hear Stephen and Fabio having the last laugh.
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