Saturday, April 23, 2011

Geithner, the USD and the zero rupee...

A commenter to the Swampland article about Iowa AG Miller's compaign contributors takes issue with the Supreme Court decision allowing person - hood writing here:

This is why the Supreme COurt let companies become persons with the rights to contribute, so we could have the the equivalent of legal bribery...look to India and the zero rupee for a solution; take back person hood from companies and especially from law firms... show more show less Read more:

The zero rupee is obviously not technically correct; however it is an apt metaphor for the international confidence and respectability or the lack thereof of the rupee; in contrast to the highly skilled and fast growing Indian entrepreneurs. Mind you India has the 2nd largest population in the world.
apr 1 2011, With 1,210,000,000 (1.21 billion) people, India is currently the world's second largest country. India crossed the one billion mark in the year 2000, one year after the world's population crossed the six billion threshold. Demographers expect India's population to surpass the population of China, currently the most populous country in the world, by 2030. At that time, India is expected to have a population of more than 1.53 billion while China's population is forecast to be at its peak of 1.46 billion (and will begin to drop in subsequent years) Link here:

Bloomberg's Jonathan Weil wrote that Mr Geithner, asserting that the US will never have its debt rated anything other than AAA has therefore downgraded his credibility to "junk"

Tying it all together in a nice Easter Bow - ALL currencies' flag bearers are sworn to conflicted duties that of defender of same and to deal credibly with the press; ultimately full faith and credit (and by extension the currency) is backed by taxpayers; in practical terms (and we know how exceedingly practical certain investors can be) that credit is manifest in our political system, process and people. And it is further undeniable; that nothing is ANY different today than in the hundreds of years before, only now, courtesy of massive information sharing, much has been been lifted out of the darkness into the sunshine...and here here that much more continues to be exhumed.

All currencies are subject to one and the same forever human, and political frailties.

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