[LINK] We live in interesting times.... Or - is the gold standard really extinct.

Tom Koltai tomk at unwired.com.au
Mon Oct 20 13:21:03 EST 2008


An interesting read at
http://www.nytimes.com/2008/10/12/opinion/12dooling.html?_r=1&oref=slogi
n claims that derivatives have caused the current economic crisis and
that machines are taking over the world.

Quote
"But we are suggesting neither that the human race would voluntarily
turn power over to the machines nor that the machines would willfully
seize power. What we do suggest is that the human race might easily
permit itself to drift into a position of such dependence on the
machines that it would have no practical choice but to accept all of the
machines' decisions. ... Eventually a stage may be reached at which the
decisions necessary to keep the system running will be so complex that
human beings will be incapable of making them intelligently. At that
stage the machines will be in effective control. People won't be able to
just turn the machines off, because they will be so dependent on them
that turning them off would amount to suicide."

Exerpt from the Unabomber's manifesto.

However this is quickly fixed according to
http://www.smh.com.au/text/articles/2008/10/19/1224351057111.html 
Wherein it claims that solar/cosmic radiation will affect all of our
comuters and satelties in not a good way.

However I like Jonathon Cainers summary best..... At
http://www.cainer.com/ (Today only 20/10/08)

Quote"
When dramatic comets are visible, night after night, they are generally
held to be telling us about a wave of long-lasting change. Back in 1892,
Comet Holmes erupted, heralding the worst economic crisis the USA had
ever known. The 'Panic of 1893' was triggered by a problem with the
financing of railroads. This led to a credit crunch, a stock market
crash and the collapse of several banks. By 1896, though, news from the
Klondike created a Gold Rush followed by a tremendous ten-year boom.
Late last year, for the first time since 1892, Comet Holmes erupted
again. "

So the economic answer is clearly to buy Gold stocks within the next
three years as there will be a massive gold discovery. ;-)

Or - Koltai truism, is it time that we return to the gold standard.
Conclusion - the gold standard (absolute) precludes computer designed
derivatives AND prevents banks from crashing - providing they have
issued safe keeping certificates ONLY for gold they hold in their safes.

Food for thought,


Tom Koltai



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