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| Middle East |
| The Phariseeâs Role In Gold And The Dollar Crash |
| 2004-01-14 |
| Moderately amusing example of the Arab conspiracy mindset coupled with an impressive ignorance of economics. From Al Jiz & EFL Since Day 911, the US dollar has fallen over 40% as compared to the Euro, the European currency âbasket.â About half of that drop occurred since May 2, 2003, when hostilities in Iraq were reported to have ended. If you were to ask your local bank VP to explain the relationship between gold and the dollar, you could expect a long and confusing answer, ending with something like this: "Nobody knows what will happen in the final analysis." Welcome to free markets 101. if people were sure what was going to happen then it would have already happened. This is the point of markets! Now if Allah were telling you what is going to happen you would have me attention! But the big usury-bankers (internationalists with license to print diluted money out of thin air) who own and run the Federal Reserve anti-bank and its clone anti-banks in world financial centers understand gold very well. You, too, can understand it and so can your l3-year old, if he is bright and willing. Here are a few questions: What do serial wars have to do with gold and the dollar? How is our currency diluted? What does the Federal Reserve System (FED) do? Why didnât CNN or 60 Minutes explain this? Who owns the gold? Vague ideas about supply and demand cut New production [of gold] is dwarfed by one monthâs U.S. federal deficit, which is headed for 500 billion dollars this year alone. To put it another way, there is not much gold compared to the money supply. It is a pea compared to an orange. There are natural gold consumers that buy as a method of savings⊠they have no other choice. Gaza City in occupied Palestine is a very poor place where this writer visited. When you bank in Gaza City, you might wonder if your bank will be there the next morning, and because Gaza Arabs are literal prisoners of the State of Israel, they are forced to use Israeli currency. Interesting point here that the author did not intend, which is that the Israeli Shekel is the currency in Gaza and that because Israel is where the money comes from. Now we get to the interesting bit My Arab friend took me to the gold market in Gaza City, and there I stayed for a few hours, talking to two of the businessmen who make their living converting Shekels—the money used in Gaza—into 22 and 24 karat gold jewelry for people who are fortunate enough to accumulate paper money. The parties negotiate quietly for a few minutes, the buyer discussing the several handcrafted bracelets with his wife. He quietly settled on three bracelets, each about a half ounce, which he paid for with thousand Shekel notes. The young Arab businessman slipped the purchased bracelets onto the arm of his lady where they disappeared under the black sleeve of her garment. They departed, having converted fast-decaying and hated Shekels to wealth that they could carry and that would not decay. The lady looked pleased; there is not much wealth in Gaza, and the familyâs savings account on her arm is safe against dilution; it is portable wealth that requires no banker and that âmoths cannot eat.â The Gaza Arab has real problems. He might have to leave his home or see it destroyed at a moments notice. He is subject to search, and his house could be bulldozed with no recourse available to him. His bank could be blown to bits by a missile. But even if none of these things happen, he knows the Israeli currency loses 20% or more of its value every year. He is a natural gold buyer. In 2003 the Israeli currency strengthened significantly against both the USD and a trade weighted basket of currencies, but hey facts are not an Arab speciality. What about those who think we live in safe and war free countries? With savings accounts returning two percent per year or less, some savers have figured out it is logical to accumulate gold in place of bank deposits, T-bills or CDs. Err! I thought charging interest was punishable by death under Islam. |
| Posted by:phil_b |
| #7 Bits in a computer? I thought time = money and time's relative.. thus Money = Relatives. |
| Posted by: Shipman 2004-1-14 4:31:11 PM |
| #6 News Flash: Most money is just bits in a computer somewhere. Counters, for the great game... |
| Posted by: mojo 2004-1-14 12:49:17 PM |
| #5 Maybe if the paleostinkians invested whatever wealth they had in something besides explosives and arms (and furs for suha), they wouldn't fear the modern banking system. Oh well, can't drag EVERYONE out of the 11th century, can we? And of course, al-jizzwada is the flag carrier for all these lies. Big shock there. |
| Posted by: 4thInfVet 2004-1-14 11:07:30 AM |
| #4 They departed, having converted fast-decaying and hated Shekels to wealth that they could carry and that would not decay. Doncha just feel sorry for that ignorant jewelry dealer who is now stuck with paper Schekels. He probably even more foolishly put the profits in an Israeli bank. I feel like I wasted my money on that Money and Banking course at the university when I could study higher economics with Al Jazz for free. |
| Posted by: Gasse Katze 2004-1-14 9:24:03 AM |
| #3 "With savings accounts returning two percent per year or less, some savers have figured out it is logical to accumulate gold in place of bank deposits, T-bills or CDs." How many percent do you suppose the Gaza Arabs lose in the typical cash-to-gold transaction? Dopes. |
| Posted by: Tom 2004-1-14 8:23:50 AM |
| #2 When I worked in Silicon Valley and then southern California in the 70s-80s, many of my co-workers from Taiwan and Hong Kong kept some 24 karat gold jewelry on their persons daily. Some of them had parents that had fled mainland China or who had assets seized in Malaysia or Singapore, so they always made sure they had some portable wealth they could carry if they had to flee. After gold, they bought real estate - their houses might have almost no furniture, but they were generally in decent neighborhoods where prices were likely to increase over time. New or fancy cars, clothes, tv/stereos, eating out and vacations were way down their priority list. Many of them did immediately begin sponsoring a younger sibling to come here, go to school and then get a good technical job, too. They've all made great Americans. Too bad that the Arabs who are within Israel have chosen not to take advantage of Israeli economy, schools and high tech industries in a similar way. |
| Posted by: rkb 2004-1-14 8:11:07 AM |
| #1 It's the Federal Reserve & the Rothchilds. /whisper |
| Posted by: Shipman 2004-1-14 7:32:26 AM |