2-Oct-10 News -- Mideast peace talks may fail on Wednesday

[John]

2-Oct-10 News -- Mideast peace talks appear set to fail on Wednesday

Ireland's debt crisis approaches a climax

** 2-Oct-10 News -- Mideast peace talks appear set to fail on Wednesday
** http://www.generationaldynamics.com/cgi ... 02#e101002

Contents:
"Mideast peace talks appear set to fail on Wednesday"
"Ireland's debt crisis approaches a climax"
"Additional links"
Pervez Musharraf announces plans to return to power in Pakistan
The May 6 'flash crash' was caused by a single large trade
Teachers in Peabody, Mass., send ads home with permission notes
CNN anchor Rick Sanchez fired for anti-Jewish rant

[ridgel]

If America's banks had to be bailed out by 30% of the GDP, it would cost over $4 trillion, and amount that would dwarf the TARP programs that were actually used to bail out America's banks.

The Fed has spent over 2 trillion dollars buying housing backed and other worthless securities from the banks. Add this to TARP and you get to the same ballpark as Ireland's bailout. Mark Pittman, the Bloomberg reporter responsible for suing the Fed to find out what securities were actually bought, died of a heart attack at 52.

As far as the stock market crash - it's already happened when measured against gold. The currency was tied to gold during the last generational stock market crisis. See the second chart on this page:
http://www.dailywealth.com/162/How-the- ... the-Market

[OLD1953]

Apart from tradition, what's the reasoning for measuring against gold? Why not silver? Or copper, or platinum or tantalum? Or iron, for that matter. It's been claimed the dollar is backed by oil now, why not measure against oil?

[vincecate]

Apart from tradition, what's the reasoning for measuring against gold? Why not silver? Or copper, or platinum or tantalum? Or iron, for that matter. It's been claimed the dollar is backed by oil now, why not measure against oil?

Many central banks hold gold as part of their reserves. The currency symbol is XAU. Many people around the world still think of gold as the best currency. Silver and platinum have currency symbols but are not held as reserves, though silver used to be. There is no currency symbol for oil, copper, or tantalum and central banks are not holding these as reserves.

That "dollars backed by oil" claim could end any day, if oil producers stopped taking paper dollars. Some day they will stop, they seem to slowly be working toward that day.

Tradition matters. All that said, you could plot stocks against the others.

http://www.xe.com/iso4217.php