Are you ready for Windows 7?

None. Unless you think that an idea such as infinity is magic. It isn’t. Nothing mystical. It’s just that a country like India that measures time by the 1000 isn’t buying gold to make a quick buck. Much in the way India has always been the largest private gold market, the government too will buy as much as it can, when it can.

It depends, If you want to pay it immediately, the US dollar isnot in too bad a shape. If you want to pay in the future,india’s inflation is worse than US’s inflation(which is quite low, and don’t expect it to go too high, since FED can always mop up the excess liquidity), so even then you don’t have a problem,if you go by the economist magazine data(last week or two i think) the IIRP predicts the currency exchange rate for the near future( 1/2 years) to be 1$=80+ rupees(which might be highly exaggerated since, economics is rarely that accurate). So overall you aren’t in that bad a shape

What is this mumbo-jumbo? This is not historical analysis we’re talking about, we’re talking about the market. And as has been observed before, the market can stay insane far longer than you can stay solvent. The first part of your comment is probably right, but this kind of mysticism detracts from any credibility you might seek.

Not quite, this isn’t for speculation or even investment, this is among other things to increase India’s shareholding in the IMF, and shore up India’s Rupee. For the land that invented Infinity, speculation even would mean thinking in terms of centuries, or as Mao is supposed to have said whether the French Revolution is a success, “It’s too early to tell.”

And Milton Friedman ??? Hasnt 2008 taught us anything??

It would if economics were a science. In fact if it were, Friedman would have been over with the flat earthers and the proponents of ether drift and caloric theories.

well, to be fair, somebody forgot to mention the Great Recession which required significant fiscal stimulus to barely edge out of, and that still hasnt been enough to stanch unemployment. deficit needs to be fixed, especially to dig us out of the pre-obama deficit hole – especially tragic since it was created during a time of growth. but to do that, fixing health policy would be an excellent long term step. but just one step among many. taxes will need to be increased once the economy turns around. the question is will president palin be willing to do that – and i think we all know the answer to that one.

as for rosiah’s comment, milton friedman’s greatest enemies have been his so-called disciples who follow cliff’s notes versions of his theory without actually understanding it. chicago will be the death of friedmanism, even the good parts.