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tbatst

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About tbatst

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  1. I wonder if that's an oblique reference to http://en.wikipedia.org/wiki/Valley_Forge ? Quite funny if it is.
  2. tbatst

    GOLD

    http://news.bbc.co.uk/1/hi/business/7951493.stm So the optimists think this will dig the economy out of a recession so up go share prices. The pessimists on the other hand think this is the start of a Zimbabwe style meltdown so up goes the gold price. Talk about decoupling!
  3. tbatst

    Commodities - theres life in the old dog!

    Sadly not. There's been some major and widespread infestation with flies which has shrunk the crop no doubt bankrupting lots of poor people in the process. The price rises are supply driven for this one I'm afraid.
  4. tbatst

    Madoff Scandal

    Same explanation as usual I would expect - 1 dollar at a time. For me, the really interesting bit will be to find out how long he was at it and how he managed to keep the whole thing going for so long through at least a couple of previous stock market semi-crashes.
  5. tbatst

    Madoff Scandal

    Eh? What data do you have to justify that? Kenneth Lay, Bernie Ebbers, Dennis Kozlowski, Brian Hunter, Nick Leeson - that's got to be 100B of non-Italian, non-Jewish fraudsters straight out, and that's just the ones I could think of in a hurry.
  6. tbatst

    Save money, Lose weight

    Clearly it depends on just how bad the recession is...
  7. tbatst

    GOLD BACKWARDATION

    I guess we'll find out real soon now
  8. tbatst

    GOLD BACKWARDATION

    No, definitely not sure, just don't think it's that closely connected with gold. I can see inflation feeding the gold price, but not necessarily the other way around - I don't think it's a symmetrical relationship.
  9. tbatst

    GOLD BACKWARDATION

    Nice theory, but I don't see your average bod on the street suddenly deciding that their paper money is worthless just because they can no longer buy gold with it. They might decide it's worthless if they suddenly find they have a load more of it than they used to, but that's different.
  10. tbatst

    GOLD

    That'd be it then. I don't suppose the interest rate makes much difference at this point, but printing money's got to scare people.
  11. tbatst

    GOLD

    You mean the sudden spike today? http://www.kitco.com/charts/livegold.html Any theories anyone?
  12. tbatst

    GOLD BACKWARDATION

    I can't say I see the logic of that one myself.
  13. tbatst

    GOLD BACKWARDATION

    He may or may not be right about the gold market exploding/imploding in some way, but I really can't follow his logic for a currency collapse following that. Can anyone summarise it without all the mad bits?
  14. tbatst

    Bernard A. Lietaer - The Future of Money

    The point needs qualifying, not disproving. The two main qualifying points are: - It doesn't require bankruptcy on the part of some participants, only the loss of capital. Many will go bankrupt in a world where money can be borrowed of course, the payment of interest makes the situation worse but isn't what creates it in the first place. - If the government creates enough new money to cover all the interest due, then no-one needs to lose capital either - in practice, some always will of course due to bad luck, incompetence, fraud etc. I don't think he's making much in the way of a profound philosophical point as he seems to think he is, all his argument amounts to is that in a world of finite money, some people will end up owing more of if than they can pay back. Unless we want to go back to living like the Amish, I don't think this is so terrible myself, others may disagree.
  15. Oddly, the pound seems to have recovered a bit today. Maybe the the view - of the market that is - is, if the government were to try to intervene to strengthen the pound, they'd inevitable cock it up in some way and damage the economy even more so, if they do nothing, things will actually turn out better? Gilts up as well. Funny old world.
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