New US currency announced

[brewer12345]

NEW BUSH COINS

 

[lazygood4nothinbum]

that was hysterical. thank you. i needed that.

 

[mickeyd]

That was pretty funny until the last one (100 gal?) that mentioned 9-11. Went too far IMHO.

 

[Moemg]

That was soo funny !

 

[Trek]

Fighting terrorism while creating it. Hilarious!

 

[Gumby]

Pretty funny Brewer, although I probably won't need money after they ship my @ss off to Guantanamo.

 

[dmpi]

That's pretty funny. I want a set of coins.

 

[clifp]

Pretty funny, although I don't think we have enough oil to redeem all of the coins.

Luckily Saudi Arabia has a very small army and we have troops in the region...

 

[brewer12345]

Pretty funny, although I don't think we have enough oil to redeem all of the coins.

Luckily Saudi Arabia has a very small army and we have troops in the region...

Already got that covered: Iraq has, what, the third largest proven oil reserves in the world, right?

 

[mountaintosea]

Good one Brewer!

 

[clifp]

Already got that covered: Iraq has, what, the third largest proven oil reserves in the world, right?

Well yes but it isn't enough.
M2 is $7.5 trillion.

Iraq has resevers 112 billion barrels of oil
Each barrel makes 19 gallons of gas.
Wholesale price of gas is roughly $2.50 gallon

Total value of Iraq gas (not oil) ~$5.3 trillion, so we are short a couple of trillion.

So in order to have Bush dollars backed by gasoline, we need to invade another oil country. I think Canada would be easiest, but Saudi would probably allow us to maintain gas backed Bush bucks for many decades.

I am also ignoring the cost of pumping, and refining the Iraq oil. But it is an interesting exercise for the Ron Paulites of the world who want to see a return to the gold standard, to get an idea about just how impossible pegging the dollar to a fixed asset is.

 

[Retire Soon]

Very funny! Just e-mailed the link to three friends.

 

[donheff]

Good one Brewer. I sent it to my right wing sister's email list