llanago
fully equipped rock polisher
Member since January 2004
Posts: 1,714
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Post by llanago on Jan 30, 2005 17:15:57 GMT -5
Jan. 29 (Bloomberg) -- Bill Gates, the world's richest person with a net worth of $46.6 billion, is betting against the U.S. dollar. ``I'm short the dollar,'' Gates, chairman of Microsoft Corp., told Charlie Rose in an interview late yesterday at the World Economic Forum in Davos, Switzerland. ``The ol' dollar, it's gonna go down.'' www.bloomberg.com/apps/news?pid=10000103&sid=atQjxQiQeANA&refer=usThe subject of debt came up on the rock saw thread, so though I would post this. Bill Gates, being one of the wealthy elite probably know a lot more about the US economy than most of us and if he says the dollar is going down, I believe him. Not because he said it, but because in the reasearch I have done, there are a whole lot of folks saying it. Alot of economists are saying the same thing, but you won't hear about it on the evening news! llana |
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Post by docone31 on Jan 30, 2005 20:30:54 GMT -5
Llana, you are correct. Our dollar used to be the standard the world used.
Because our dollar has more worth against other currencies does not mean it has more value.
Essentially, the borrower is slave to the lender.
As a marriage counselor, I was asked repeatedly, how can we save for the future, what investments can we make to give us the freedom to live as a married couple.
I told them, get out of debt. You do not make money at 1 1/2% interest when inflation is 16%, and your debt is 28%Apr. You are still 26.5% under and always controlled by your lendors. I have three masters in International Economics. Bill is kinda right, but he is playing his own game.
See, we consume at a prodigious rate. If the other countries squeeze us, we purchase less. We have to squeeze back, and it goes on and on. So the dollar won't go way down, the other currencies won't go way up. The international summit is like a futures summit. The price for individual goods is determined at a purchase ratio for controlled control over producing countries and products. It even limits intellectual property by limiting demands.
What happens outside of the published is really fascinating. Peoples lives who have no idea of what is happening are determined by a stroke of a pen.
There is no pillow like a clear conscience,
Hearses do not carry luggage racks,
The borrower is slave to the lendor.
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llanago
fully equipped rock polisher
Member since January 2004
Posts: 1,714
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Post by llanago on Jan 30, 2005 22:30:40 GMT -5
I know just what you're saying. Gates, Buffet and the other wealthy elite definitely are playing their own game. Things are never as they seem because of all the moving and shaking going on behind the scenes that the riff-raff (that would be us!  has no clue about. I do think that we are going to experience a somewhat major stock market crash in the next few years and it ain't gonna be pretty. The less debt one has, the better off they will be when that time comes. I was in debt up to my ears for years. Being out of debt is like being able to fly! I have one credit card with a $1000 self imposed limit and other that that I am free and clear. Am worn slick from living in this RV since I'm not traveling and have thought more than once about finding somewhere else to live, maybe even buying a couple of acres and building my own house little by little - but then I think about how I would have to go in debt and be financially strapped and decide living in this RV where everything is furnished for $140/mo. ain't so bad after all.  llana |
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Post by docone31 on Jan 30, 2005 23:01:39 GMT -5
It took me five years to get my wife to accept living in a 7000sq ft., house is the pits. Our house is very humble by comparison. We are debt free, our shop is self maintaining and profitable, our house is a construction zone our van is work in progress. We sleep on the floor.
She loves the humble life! She is no longer hostage toa mortguage and who gives a crap about what the neighors think. They like us for that. We leave them alone and they let me toss my construction demo into their dumpster. They even come to the shop and seeing us at work, they know why they never see us outside. We really do make what we sell.
I designed an house years ago. One day we will do it. It consists of five 140sq ft., sheds, arranged in a circle, wired plumbed, and sheetrocked. We want to get at least ten acrers of way out of the way land and build one shed at a time.
Cannot do that with bills.
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Post by Original Admin on Jan 30, 2005 23:17:36 GMT -5
If billy boy says its going down, and we make the assumption that billy boy is a game player, then the dollar will go up.  Yes - dont ever be a consumer over time. Let others do the consuming and borrowing. |
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Post by docone31 on Jan 31, 2005 0:15:13 GMT -5
There is that. One has to wonder the motives.
The deed is done, light the furnaces, let the beatings begin!
How easily we follow, how quick to believe, how eager to act on an assumption.
Let the games begin.
The meek shall inherit the earth, after who dies?
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stefan
Cave Dweller 
Member since January 2005
Posts: 14,113
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Post by stefan on Feb 10, 2005 14:17:56 GMT -5
Hmmm the guy who has us click start to stop- Now I get this message Do you want windows to check for the latest updates- NO I tel it- then it asks me if I'm sure- YES I say- then it says it wants to send a log of this event to Bill- I say NO and it says Are you sure- YES IM SURE DAMMIT!!!! Ok it says- Would you like to see this message again- OK Now Im mad- 5 minutes of my busy day wasted on some stupid question answer thing- When I could be raising prices or sell something- And now that guy has the nerve to say the dollar is going down- Well I for one live and eat in AMERICA- where we spend DOLLARS- So I say DOLLAR YES
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chassroc
Cave Dweller
Rocks are abundant when you have rocktumblinghobby pals
Member since January 2005
Posts: 3,586
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Post by chassroc on Feb 17, 2005 15:17:53 GMT -5
This is just the natural result of a government that cannot rein in the spending. They are essentially just printing more and more paper with nothing (real) to back it up. The dollar becomes less valuable compared to other currencies because the government is running a huge deficit.
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has no clue about. I do think that we are going to experience a somewhat major stock market crash in the next few years and it ain't gonna be pretty. The less debt one has, the better off they will be when that time comes. I was in debt up to my ears for years. Being out of debt is like being able to fly! I have one credit card with a $1000 self imposed limit and other that that I am free and clear. Am worn slick from living in this RV since I'm not traveling and have thought more than once about finding somewhere else to live, maybe even buying a couple of acres and building my own house little by little - but then I think about how I would have to go in debt and be financially strapped and decide living in this RV where everything is furnished for $140/mo. ain't so bad after all. 
