Tuesday 2012-11-27

Rollover (1981) is apparently only for financiers; even the IMDB description of the film is wrong.

Instead of "An Arab oil organization devises a plan to wreck the world economy in order to cause anarchy and chaos", it's actually about wealthy Middle Easterners being worried that, in the final analysis, they will have traded away all their oil for a bunch of worthless paper dollars printed in the US.

Intelligently, they are quietly diversifying out of dollars into gold, Swiss francs, deutschmarks. News of this selling gets out and sets the stage for the tragedy that ensues, as everyone's plans come to naught.

It's funny to think that this scenario was actually plausible. Instead of selling into a vacuum, though, they sold first to the Japanese, and then to the Chinese. Which is where we are today.

Will we eventually adjust gradually? Or will the US need to find a greater fool, after having found 3.