Zonal Wars in FIDE

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  • #16
    Re: Zonal Wars in FIDE

    Originally posted by Christopher Mallon View Post
    That's funny... I read a book years ago (Dragon by Clive Cussler) where the Japanese ended up owning so much American debt that they demanded Hawaii and California in payment.
    I always thought the idea was to borrow in todays hard dollars and repay in tomorrows soft dollars. It's not like they are on a gold standard.

    As long as the U.S. dollar is the world reserve currency, can't they simply print as much as they want? It's not like they will get to the point Iceland finds itself.

    Looking at it over a period of decades their debt is chump change. Nice chump change but really nothing to worry about in the grand scheme of things. Although, Arnie's IOU's in California are starting to look good. He's a canny money manager. :)

    Catch the new book. Reviling Inflation While Hoping it Comes, by Debtor Nation.
    Gary Ruben
    CC - IA and SIM

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    • #17
      Re: Zonal Wars in FIDE

      There is already some pressure for the Euro to replace the Dollar as the world reserve currency... won't happen anytime soon I don't think, unless something REALLY precipitous happens. The real problem isn't the current size of the debt, it's the structural deficit.
      Christopher Mallon
      FIDE Arbiter

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      • #18
        Re: Zonal Wars in FIDE

        Originally posted by Christopher Mallon View Post
        There is already some pressure for the Euro to replace the Dollar as the world reserve currency... won't happen anytime soon I don't think, unless something REALLY precipitous happens. The real problem isn't the current size of the debt, it's the structural deficit.
        Not to be taken seriously, in my opinion. The U.S. is the world's military super power, which makes it a relatively safe place to store hugh sums of money in government bonds. Currency values flucturate and you have to consider the long term. The Euro is a relatively new currency and the economy of some of the nations which back that currency aren't exactly "sexy".
        Gary Ruben
        CC - IA and SIM

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        • #19
          Re: Zonal Wars in FIDE

          P.S. I missed addressing your point on the structural deficit. The U.S.will end up reducing spending. Also, a lot of the bailout money will come back to them in the future.

          Inflation will end up with a higher wage scenario, which will result in more income from taxation without really raising the tax rate. This will also address the structural deficit you cite to some extent, will it not?
          Gary Ruben
          CC - IA and SIM

          Comment


          • #20
            Re: Zonal Wars in FIDE

            Originally posted by Gary Ruben View Post
            I always thought the idea was to borrow in todays hard dollars and repay in tomorrows soft dollars. It's not like they are on a gold standard.

            As long as the U.S. dollar is the world reserve currency, can't they simply print as much as they want? It's not like they will get to the point Iceland finds itself.

            Looking at it over a period of decades their debt is chump change. Nice chump change but really nothing to worry about in the grand scheme of things. Although, Arnie's IOU's in California are starting to look good. He's a canny money manager. :)

            Catch the new book. Reviling Inflation While Hoping it Comes, by Debtor Nation.
            China in particular, without whom America would collapse like a house of cards, is getting VERY concerned about just how soft those dollars of tomorrow are looking to be.

            Catch the new book, "Wee Don Wan Yo Monee" by Alien Nation.

            Speaking of Ahhhhnold, the Governator will soon have a new ad slogan for California: "It's Not a Tuma! We'll Be Back!".
            Only the rushing is heard...
            Onward flies the bird.

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            • #21
              Re: Zonal Wars in FIDE

              Originally posted by Gary Ruben View Post
              P.S. I missed addressing your point on the structural deficit. The U.S.will end up reducing spending. Also, a lot of the bailout money will come back to them in the future.

              Inflation will end up with a higher wage scenario, which will result in more income from taxation without really raising the tax rate. This will also address the structural deficit you cite to some extent, will it not?
              Wow.....first of all, this is certainly another example of going off topic. Where is the moderator? If you want to talk about the US debt, we should start a new thread. It certainly is BIG enough to warrant it!

              Secondly, I'm having trouble believing some of these comments, or is everybody just pulling my legs.:o Or is everybody in denial, just like climate change? It ain't really a problem, is it?:p

              Finally, yes, the us debt problem is serious! Eventually, the us currency will crash and burn!

              Comment


              • #22
                Re: Zonal Wars in FIDE

                Originally posted by Bob Gillanders View Post
                Wow.....first of all, this is certainly another example of going off topic. Where is the moderator? If you want to talk about the US debt, we should start a new thread. It certainly is BIG enough to warrant it!

                Secondly, I'm having trouble believing some of these comments, or is everybody just pulling my legs.:o Or is everybody in denial, just like climate change? It ain't really a problem, is it?:p

                Finally, yes, the us debt problem is serious! Eventually, the us currency will crash and burn!
                Actually, the moderator {Chris) went off topic and I replied. :)

                Would you give us a date by which the U.S. currency will crash and burn? Successful prediction often depends on not giving a date. As an example, there's a difference between walking around carrying a sign which says "The World Will End" and carrying a sign which says "The World Will End Tomorrow". :D

                I'm looking for American Protectionism which we are already seeing.
                Gary Ruben
                CC - IA and SIM

                Comment


                • #23
                  Re: Zonal Wars in FIDE

                  Originally posted by Paul Bonham View Post
                  China in particular, without whom America would collapse like a house of cards, is getting VERY concerned about just how soft those dollars of tomorrow are looking to be.

                  Catch the new book, "Wee Don Wan Yo Monee" by Alien Nation.

                  Speaking of Ahhhhnold, the Governator will soon have a new ad slogan for California: "It's Not a Tuma! We'll Be Back!".
                  I like that! :) You're better at it than I am. I just wish you wouldn't do it to me when I'm drinking tea.

                  I hope you liked that movie. It really made me laugh. Kindergarden Cop. Isn't that the name of the movie?
                  Gary Ruben
                  CC - IA and SIM

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