Saturday, 24 January 2009

Comment of the Week

I have noticed that the best analysis and perspectives are written by the readers and not the journalists:


The Sterling collapse is not surprising - the idea that a government can buy christmas tree logs from Finland for 300 pounds and magically convert them into 3 billion pounds of paper "currency" by printing the head of the queen on it is laughable.

Sterling is worth nothing because it is backed by nuthin....

Comment by Johan Meulemeester

Everything else is is irrelevant or a distraction...... its not if but when.


Anonymous said...

Fiat currencies are backed only by the ability of the people to support it with their work time. Sterling's work time has been spent well in to the future. Only when and if we catch up will Sterling recover.


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