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alstry (36.49)

Sinch's most WRONG statement....yet....I sure there will be more once I get him playing Full Tilt

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December 22, 2008 – Comments (4)

Sinch,

Let's get some ground  rules out of the way...I have profound respect for your blog and feel you play the game with  honor and character....and in no way view you wimpy ala FloridaBuilder.  I have no desire to have you quit as well as it will be a greater loss to CAPs, and to me, then the significant benefits I gain from our debate.  I am a selfish individual and I benefit from your blog and  debate....much more than you can imagine.  But if you want to play against me, and since I view you as competent.....full speed is my only speed and will maximize the benefit to each of us and the other CAPs members as well.

It is the same way I litigated and at the end of the day, I enjoyed drinks the most with those that provided the greatest challenge.  It is much more enjoyable to have a drink with someone you respect and like than someone you just like.  As long as this is acceptable, get ready to have your backside  kicked.

A dollar may buy you more house or car today than it did last year, but that has little significance in an environment in which banks are hoarding capital and consumers have nothing left to consume with. The worse our economy gets, the greater the certainty of hyperinflation replacing this momentary deflationary phase as it becomes increasingly clear that we cannot repay the trillions of dollars recently added to our national debt and foreign holders of USD flea the currency as a result.

Sinch,

This is utter nonsense.  The fact that banks are hoarding capital adds greater weight to my argument.  The worse the economy gets.....the greater the certainty for hyperinflation????  I don't know how they are treating the water in Alexandria these days.....but you may want to look into it.  You are confusing private debt with national debt.  Private debt is fuched.  National debt(which is much lower than private debt)......there are few countries in the world with a balance sheet as strong as the USA(you know...assets minus liablities).....as soon as America repudiates its entitlement obligations to its people because it simply can't afford to pay. 

It will first start with job losses and wage cuts.  Then additional cutbacks in services.  Then impairments to Social Security and Medicare.  America is still rich in natural resources ripe for export.

And as far as foreigners fleeing our currency....where do you think they are going to go???  Russia, Greece, Argentina, Iceland, England, Spain, Italy.......I love the world, mostly for its women....not the currencies.  If you are going to give me currency.....USA all the way.

It is not that you are wrong about your inflation argument......simply early....and it will be on a global scale with the US in one of the best positions.

4 Comments – Post Your Own

#1) On December 22, 2008 at 3:42 PM, HansHauge (34.00) wrote:

I think you need to lay off the sauce Al....

Friends don't let friends blog under the influence. /hug

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#2) On December 22, 2008 at 3:54 PM, XMFSinchiruna (27.14) wrote:

I respect the energy with which you approach your topic, and the obvious passion you have for it, but I indicated with my last post that I was done with this particular debate. I have said my peace with my comments to your prior posts. The topic has also been debated thoroughly among the blogs.

This will be my only reply, and I would prefer no further posts directed specifically to me. 

"there are few countries in the world with a balance sheet as strong as the USA". Alstry, December 2008 (above)

"In just a matter of days, the USDX has plummeted. Bernanke's rate cut Tuesday appears to have accelerated the retreat, and in my opinion risks a snowballing effect where foreign holders of dollar assets may opt to divest holdings of a tumbling currency."

TMFSinchiruna, December 2009

 ... you decide!  :)

"Gold still represents the ultimate form of payment in the world". - Alan Greenspan, 1999  

http://www.fool.com/investing/international/2008/12/19/what-the-crashing-dollar-means-for-you.aspx

http://www.fool.com/investing/small-cap/2008/09/12/in-defense-of-gold.aspx

http://www.fool.com/investing/general/2008/10/02/700-billion-reasons-to-own-some-gold.aspx

http://www.fool.com/investing/international/2008/11/26/39-trillion-was-a-drop-in-the-bucket.aspx

http://www.fool.com/investing/general/2008/03/19/dodge-the-dollar-with-a-silver-bullet.aspx

Enjoy the holiday week, and I want to again wish all Fools a terrific Christmas and New Year!

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#3) On December 22, 2008 at 4:23 PM, alstry (36.49) wrote:

Sinch,

A man must know his limitations.  And you definitely know yours.

This will be my only reply, and I would prefer no further posts directed specifically to me. 

There will be none...although it is too bad because CAPs members could have learned a lot from the socratic contest. 

As you watch the dollar rise in value as the new year progresses against other world currencies, you will learn that in the end, you can squawk all you want, but when you are up against the 800lb Gorilla, and you are just a monkey....the Gorilla usually has his way....in this case its the USA.

Nobody loves America more than I do, it is just our leaders, from both parties, which often leaves me scratching my head.

Please notice how quickly I started a new blog.....Alstry always treats those are likely to lose with respect.  Merry Christmas.

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#4) On December 22, 2008 at 4:30 PM, Harold71 (20.43) wrote:

as soon as America repudiates its entitlement obligations to its people because it simply can't afford to pay. 

Whoa there, Grandpa and Grandma are voters!  The gov't is NOT cutting benefits, they keep giving them more!  Prescription drug benefits anyone?

How about pulling out of 146 foreign countries, or whatever it is, that would save untold sums of money.  The mere announcement of this action would probably send the dollar soaring.

Why do I hold gold?  Because betting against the government (i.e. betting on them being incompetent/corrupt/wasteful) is a good bet.  And the day it isn't, will be my (and the country's) best day anyways.

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