Here’s a very amusing take on the U.S. greenback, courtesy of those wacky folks at WallStrip — perfect for a Friday afternoon!
Its a preview of this coming Monday (Oct 8th’s) WallStrip!
click for shits and giggles
The Value(less) U.S. Dollar
October 5, 2007 4:17pm by Barry Ritholtz
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NFP WTF ?
How do you get this stuff head of me, the founder :)
Barry,
Street Theatre at its finest (funniest). Even money she’s branded a terrorist and disappeared next week.
Thanks!
Mike
p.s. I wonder what people’s reactions would have been if she handed out a two dollar bill instead?
Barry,
Street Theatre at its finest (funniest). Even money she’s branded a terrorist and disappeared next week.
Thanks!
Mike
p.s. I wonder what people’s reactions would have been if she handed out a two dollar bill instead?
Friday rock blogging with a Randy Rhoads live performance!
http://www.youtube.com/watch?v=7hwq3nNHyPI
or
http://economicdisconnect.blogspot.com/2007/10/friday-distraction.html
Ronald Reagan said once, that a dollar should be worth a dollar, and a dollar will buy a dollar’s worth, and not 45 cents’ worth. Ronald Reagan did not like devaluation or government’s that devalues its currency.
“If money go before, all ways do lie open.”
Shakespeare
They should make ’em 2-ply, quilted, and give them away in rolls. Maybe that would stir up some demand. Plus it’d look better flying out of choppers.
Wallstrip’s late July video about the Dow at 14K – “Bear hugs for short sellers” marked the summer high for the index. Will this video mark a short-term low in the DXY?
doubt it. Policy trumps all and ours is just defer defer defer
Funny :)
Let’s see (I’m from EU):
Do I want to get anal searched when arriving to USA for a holiday and thrown into a jail without any right to legal representation?
So much for tourism.
Do I want to buy any badly made US goods, when I can buy much cheaper badly made Chinese/Vietnamese goods.
So much for extra exports.
Do I want to buy US assets, now that they are relatively coming cheaper. Hell no! You think I’m crazy, buying stuff on a sinking ship (sure there are some gems in the rough, but good luck picking them out).
So much for increase asset buys.
If the greenback continues to fall, I don’t think it’ll be a great saviour to US. Maybe if it continues for 30 years and you learn some humility, but otherwise, no.
You’ve given a funny topic that’ll serve well for an improvement I want to make on something I explained maybe poorly in a prior related topic:
“Hyperinflation is associated with failed governments, but not specifically because of failed monetary systems caused by governmental collapse…”
—
Okay, so you say “Eclectic, you dummy… hyperinflation i-s the direct result of a failed monetary system caused by governmental collapse.” I had offered the examples of the Confederate States of America and the Weimar Republic, and those would be textbook examples refuting my statement above.
However, even though the collapse of the monetary system occurred, it wasn’t because market participants couldn’t facilitate their philosophical need to view their currencies as always perfectly exchangeable for a value asset (gold, silver, etc.), because very few monetary exchanges require this ultimate illusion, but rather it was because the failed governments could no longer f-o-r-c-e Monetary Obedience.
You question me again? “Hocus pocus,” you retort?
Ah, do that and I’ve got you cornered… because you’d be retorting against the very monetary system you participate in every single day, one that functions very well with z-e-r-o inherent value backing it, but with all the Monetary Obedience needed to cause y-o-u to subconsciously i-g-n-o-r-e that fact.
Citizens of the C.S.A. and of Weimar Germany forced the e-x-t-i-n-c-t-i-o-n of their currencies ultimately for reasons that, were they consciously expressed today, would also force the extinction of currencies used today.
And thus, I’ve delivered to you, my readers, yet another installment of Eclectic’s philosophical understanding of the basis of money… about just exactly what money is.
In the U.S. and throughout the world, money is the abstract Monetary Obedience enforced on market participants for the purpose of facilitating the value exchanges of the real core basis of money… L-A-B-O-R, mechanical or intellectual. That’s what the exchange is… not these silly dollars or pounds or other currencies in our pockets. It’s also what the exchange has always been… whether denominated in gold or not in gold, and whether in fiat or in real commodity money.
this place is way to smart…I am headed back over to thestreet.com
this place is way to smart…I am headed back over to thestreet.com
this place is way to smart…I am headed back over to thestreet.com
good call howard and a big BOO Yah! to Ya.
I think the funniest part of this has nothing to do with inflation. It’s the fact that the scammers of the past have made it so you damn near can’t even give a dollar away anymore! You know everyone who refused is thinking they are getting a fake dollar with some religious utterances on the back of it or something. An attractive woman walks up to you and wants to give you money and you have learned through past experience “Whatever this is, it isn’t what it looks like. RUN AWAY! RUN AWAY!!”
As for Howard L. Don’t buy our cheap goods. Just keep buying our debt and mis-rated CDO’s etc. buddy so we can devalue it while it sits in your pocket. ;)
Oh, Howard, don’t run away so fast.
Here’s a skit for you:
Black leather and whips enforcing Monetary Obedience.
A Dollar Dominatrix??
…What?… too much?
oy
vey!