Monday, January 19, 2004

Oil For Gold

So Dean got whomped in Iowa. More comments on that once the fallout has fallen a bit...

In other news, the rest of the world is getting wise to the plan Henry posted of intentionally pushing the trade deficit so that other countries are holding all the dollars (and dollar debt-load) and we hold all the goods, leaving them in position of needing to prop up our dollars in order to make their holdings worth anything. Former Malaysian Prime Minister Mahathir Mohamad is warning OPEC nations to avoid this scenario by only trading oil in exchange for gold. If his advice were followed, I believe the impact would quite serious.

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