[skinkinthegrass]

Hmmm...Thanks, something to think about. 8^|

[lonestar67]

incorrect

[Enterprise]

Ominous

[gotribe]

Another go-to-gold article.
Strange that he job hunts in his bio. Opportunism I guess.

From 321Gold:
About the Author
Krassimir Petrov has received his Ph. D. in economics from the Ohio State University and currently teaches Macroeconomics, International Finance, and Econometrics at the American University in Bulgaria. He is looking for a career in Dubai or the U.A.E.

[willyd]

When you take into account that North Korea has been printing $100,000,000 per year in US currency and distributing it into the worlds money supply, we could be in for some real inflation. I have already noticed the cost of consumable goods increasing way more since 2000 than they did in the 90's. I don't know about this Empire that taxes other nations through devalued currency nonsense though. I think China still holds a considerable interest in the value of the dollar. Hyperinflation here means we don't buy products there.

[operation clinton cleanup]

Thus, these two powerful forces will drive the dollar in opposite directions. Its inevitable demise may be swift and sudden, or it may be protracted and painful.

So should I be excited or terrified.... or just call a gold broker to convert my worthless dollars?

[Greenpees]

Three points:

1. If Oil is replaced by another technology developed, or heavily invested by the United States, this authors fantasy is over.

2. There is no stable currency without the US Dollar. Is he suggesting that the Euro is backed by Gold? Of all the exports in the World oil may be critical, but it's a very small percentage of World trade. Even if oil prices switched to Euros, which it will not do, Economies must still buy the oil. Chinas exports are bought by those with money, not oil. Do you think China would trade off having the US as a customer to having only the Middle East as a Trading Partner?

3. We have FOOD, and the ability to produce alot more than we do already. I say Food is the new oil, under the authors scenario, because nations states will have a hell of a time producing enough on their own, and maybe we just "don't accept Euros for Grain"

Another doubter of the future of America. He may be right that things would get tough, probably real tough. But, if he thinks the world is ready to jump into a global depression just for the sake of one dictator in Iran, he's crazy.

[KingKenrod]

Financial Sense Online is run by a pro-Metals brokerage,
which means you can ignore this as scare-mongering. Kind of like the peak oil folks.

[Tyche]

I'm still perplexed why we didn't put a oil embargo on Iran after naming them to the Axis of Evil. By not doing so we kinda supported their military build up and such.

[Lejes Rimul]

Well, keep in mind that a similar scheme proposed in Dubai went nowhere. That said, the Iranians have a bigger incentive - namely, destroying the petrodollar - to push their bourse than the complacent Arab oil sheikhs ever did. However, given the internal ferment in Iran at the moment, I don't expect the March-slated bourse to open much before 2007.

[The Drowning Witch]

MAJOR PING

[The Drowning Witch]

So does this mean I should sell my house, and all my assets and start hoarding gold coins in my crawlspace????

I've got my broker on hold RIGHT NOW....and he's about to call the white-jacketed men on me......

[Leisler]

Ah, this dolt is way behind the curve. The world doesn't really even run on dollars anymore. It runs on credit, the future, promises.

That's it.

Don't like it, go to all trade goods. No one is stopping you. Life would be like..like...any rural third world pit.

[The Duke]

Why should the Euro or any other currency be any more desirable than the dollar? It seems more likely to me that our foreign trading partners would simply start be insist on payment via some sort of international barter.

[DCPatriot]

YAWN!!

[Toddsterpatriot]

The Great Depression with its the preceding inflation from 1921 to 1929 substantially increased the amount of paper money in circulation without the correspondent increase in gold.

Interesting. According to this guy, we had inflation while on the gold standard. I didn't think it was possible.

[Diddle E. Squat]

As a consequence, President Franklin Delano Roosevelt decoupled the dollar from gold in 1932.

Which was an amazing feat, considering that he didn't take office until March 1933.

Or perhaps this author is another FOS crackpot goldbug/snake-oil salesman.

[chilepepper]

to other nations in exchange for goods with the intended consequence of devaluing over time those dollars and paying back later each dollar with less economic goods

B.S. alert! factually incorrect since as dollars become devalued, it takes less equivalent local currency to buy, for example, a Boeing 787...