VIDEO: Remember The Last Run On The Dollar?

Thursday, October 28, 2010

History repeats itself. It only gets more expensive with every time. Watch this video (h/t @fiatcurrency) on the turmoil 30 years ago when OPEC members withdrew a mere $5.5 billion in money market funds, sparking golds vertical move to $850.
This time not even $5.5 TRILLION will help if institutions like JP Morgan sit on $45 Trillion in derivatives.
And you still think there will be any other end to this than an unorderly unwind, to say the least? Think again, the flicker of bad headlines looks increasingly as history will repeat itself again.

Remember, we are now in the 4th year of the financial crisis and there has not been a single measure of regulation that has gone into effect.
Derivatives? Not a single step taken!
Hedge funds? EU regulations will come in 2018!
Banks? Basel 3 will set into motion in 2019!
But we have a crisis TODAY!
Those responsible for the crisis are still in office! Why?

1 comment

Anonymous said...

Most of the video clip is from a film from 1981 called Rollover. I think your post gives the impression that the fictional OPEC withdraw and the ensuing chaos depicted in the film footage was an actual historical event.

30 October, 2010 15:24

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