Dubai to start stage 2 of the depression?

24Knews main news & discussion threads
Forum rules
Please read: 24Knews Forum Rules

Dubai to start stage 2 of the depression?

Postby Pixel8r » Tue Dec 08, 2009 8:54 pm

Long interesting report by Nick Guarino about the Dubai situation, with loads of facts and pictures. I think he is totally wrong about gold being in a bubble though, but still an interesting read.

Dubai (aka Debt-Bai) real estate wipeout kicks off Stage 2 of the global depression

"Money is Gold, and nothing else"
(As John Pierpont Morgan once stated under oath before the USCongress and the Pujo Commission in 1912)
User avatar
Rhodium Rocket
Rhodium Rocket
Posts: 18512
Joined: Fri Dec 04, 2009 4:16 pm
Location: South West UK

Re: Dubai to start stage 2 of the depression?

Postby d2thdr » Wed Dec 09, 2009 12:12 pm

As a foot note oil will go to under $10.00 a barrel and the vast majority of Arab oil will stay in the ground because their will be no buyers for their oil. Remember you heard it here first.

I wonder I will ever see this in my lifetime. And I am still 30.
In the world today there are only three assets, gold, oil and currencies. The paper currencies, so long admired and accepted are now in a war of self destruction. They will consume each other in an end battle of "I'm the last man standing but have lost all use as a unit of value".
User avatar
Quarter Krug Member
Quarter Krug Member
Progress to next rank:
Posts: 490
Joined: Sun Dec 06, 2009 9:05 pm

Return to Main Discussion Forum

Who is online

Users browsing this forum: Google [Bot] and 9 guests