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The Eventual Death of the U.S. Dollar.

U.S. Dollar Death Dollar Collapse IMF BIS Crash Petrodollar Russia China dumping

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#541 SJL

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Posted 02 September 2011 - 04:37 PM

Will it happen this year? 2012?

Even Goldman Sachs Secretly Believes That An Economic Collapse Is Coming


This is so typical of Goldman Sachs. They will say one thing publicly and then turn around and do the total opposite privately.


Hmm... could we blame those "jews"? I mean, it's not like Obama did not threaten or actualy sued that company which downgraded the credit rating of the US economy.

That being said, they might tell the truth when the GOP comes about.

The pied pipper is blamed again.

#542 SJL

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Posted 02 September 2011 - 04:49 PM

By the way, the East mafya is not selling properties out East in order to buy in the US. Apparently a state of feudalism exists over there that makes property horrendously expensive, and, despite being able to profit in the current downturn in the US, they hold off and want to keep a home there as the economy and problems go down here.

How come these otherwise "mainstream Americans" get it and the rest of us do not? Hmm....

I was arguing with them on communism, equating it to the Eldorado sheme of the Spanish Queen to get colonization of South America going (hence the "stupid and greedy" cultural heritage of these spanish places). The reply was that, "well, if it worked to get people motivated and communism works that way, then so be it". ...

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Posted 15 September 2011 - 06:08 AM

Say hi to the soon-to-be world's 8th fully convertible currency:

Yuan Likely to Be Fully Convertible in 5 Years: PBOC Advisor

A senior advisor to the People’s Bank of China said China’s currency will be fully convertible in the next 5 years as long as there is no major shock to the economy. Li Daokui dismissed suggestions that freely floating the yuan will hurt China’s exports and its economy.

“With a fully convertible currency there will be both inflows and outflows of currency. So currently there is a great, great potential for our households and enterprises to get our foreign currency reserves and go out and invest abroad,” Daokui said Wednesday at the summer meeting of the World Economic Forum in Dalian.

Daokui said China was looking at both yuan [CNY= 6.3915 0.0005 (+0.01%) ] convertibility and liberalization of interest rates as part of a bundle of reforms. He said the next step in the liberalization agenda would be to free up the amount of foreign currency Chinese households and businesses can get access to.

China’s currency is freely convertible on the current account (for trade purposes), but is tightly controlled when it comes to the capital account (for investments).

Allowing Chinese businesses and investors to convert more money to dollars and euros could ease China’s worries about what to do with its nearly $3.2 trillion in foreign exchange reserves. It could also boost the global economy as more Chinese invested and consumed goods and services abroad.

Li, an academic who teaches at China’s Tsinghua University, was appointed to the central bank’s monetary policy committee in March 2010 and is seen as a reformer.

Talk of full yuan convertibility picked up last week after Davide Cucino, the head of the EU Chamber of Commerce in China said Chinese officials had told EU business executives that they planned to freely float the yuan by 2015.



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Posted 15 September 2011 - 06:16 AM

Two articles, one connection: Economic warfare.

Euro bonds coming soon. Invest in Europe, divest in America.

EU's Barroso Will Soon Present Options On Euro Bonds

The European Commission will soon present options for the introduction of euro area bonds, Commission President Jose Manuel Barroso said on Wednesday, but warned it would not put an end to the crisis.

Speaking before he addressed the European Parliament, Barroso delivered a stark assessment of the severity of the euro zone debt crisis, saying the region faced its most serious challenge in a generation.

"This is a fight for the jobs and prosperity of families in all our member states. This is a fight for the economic and political future of Europe. This is a fight for what Europe represents in the world. This is a fight for European integration itself," Barroso said.

He told lawmakers the Commission would shortly present options for the introduction of euro area bonds, as previously promised.

The euro rose against the dollar, European shares turned positive and safe-haven German government bonds pared gains after Barroso's comments.

In an emotive plea for the European Union, and particularly the 17 members of the euro zone, to work more closely together, Barroso said the only way to stop the negative cycle in financial markets was to deliver deeper integration.

He urged that to come not via Germany or France taking their own initiatives that other, smaller member states were expected to follow, but via what EU officials refer to as the "community method", where Brussels leads the initiative.

"A system based purely on intergovernmental cooperation has not worked in the past and will not work in the future," he said.

European leaders have been battling to get on top of the debt crisis for more than 18 months.

Their latest move, adopted on July 21, was to strengthen their 440 billion euro bailout fund, the EFSF, by allowing it to buy bonds in the secondary market and to lend pre-emptively to governments in distress.

But those decisions, which require parliamentary approval in the majority of member states, have not yet been fully implemented, undermining confidence in the ability of the euro zone to tackle the problems.

Bond yields in Greece, Italy, Spain and elsewhere have been pushed higher as a result.

Barroso mirrored European Central Bank President Jean-Claude Trichet and other officials in calling for the quickest possible ratification of the July 21 agreement, saying it was critical to showing that Europe could deliver on its commitments.

"Solid, feasible and concrete proposals have been made. They have been agreed upon. But they have taken too long and have not yet been fully delivered," he said.

Euro Bonds Proposal

The European Parliament has long been an advocate for the introduction of euro area bonds, through which the 17 euro zone countries would jointly and collectively issue debt.

Such a move would support weaker member states but push up the borrowing costs of Germany and other triple-A rated members.

Germany is adamantly opposed to the idea, saying it can only be considered once there is much tighter and closer fiscal coordination in the euro zone.

A ruling by Germany's top court has meanwhile made it virtually impossible for Berlin to sign up even if it wanted to, according to legal experts.

But partly to placate parliament, the Commission has promised to present options on the idea.

"There has been much debate on the need for eurobonds," Barroso said. "Today I want to confirm that the Commission will soon present options for the introduction of eurobonds. Some of these could be implemented within the terms of the current treaty, and others would require treaty change," he said.

But he added that even if euro zone bonds were to be introduced at some point — and if they require treaty change it is unlikely to come about soon — it would not magically resolve the debt crisis.

"This will not bring an immediate solution for all the problems we face and it will come as an element of a comprehensive approach to further economic and political integration," he said.


China’s Wen Promises More Support for Europe, Hints at Price

China’s premier, Wen Jiabao, said the country remains ready to help Europe through its current debt crisis, but said Europe must recognize China as a full market economy.

Addressing CEOs and policymakers at the summer World Economic Forum in Dalian, China, Wen said he had told European Commission President Jose Manuel Barroso on a recent phone call that China was willing to invest more money in the region.

But he urged the EU to grant China the status of a full market economy before the World Trade Organization (WTO) does so in 2016.

“Recognizing China as a full market economy is a way a friend recognizes a friend,” Wen said.

Market economy status would help Chinese products get better treatment in trade disputes with Europe.

In his speech, Wen also said that Western countries needed to do more to solve the sovereign debt crisis and to protect foreign investors.

The euro [EUR=X 1.3802 0.0061 (+0.44%) ]fell initially on Wen’s comments about sovereign debt, but then recovered when he offered support for Europe’s troubled economies.

Europe is China’s largest export destination, accounting for 22 percent of Chinese exports - one reason China is keen to help ease the current crisis. China has also emerged in recent years as a major buyer of Europe’s sovereign debt as it looks to diversify its $3.2 trillion reserves away from the dollar.

“China pledging support for Europe is very important given that China is one of the largest holders of European debt,” Jing Ulrich, Managing Director and Chairman of global markets for JPMorgan, said after Wen’s speech.

George Colony, Chairman and CEO of Forrester Research, said Wen’s speech was very conciliatory towards the United States and Europe and that was encouraging.

“He’s extending a hand of support and he’s ready to support the changes we are making in Europe and the U.S.,” Colony said.

A senior advisor to the People’s Bank of China suggested later in the day that China and other countries were ready to invest but needed to see fiscal reforms.

“The biggest problem is not liquidity, this world is full of liquidity. There are dozens of trillions of currency reserves in the world in various governments,” Li Daokui said. “They are all ready to invest, however what they need to see is clear commitment and pragmatic policy measures to reform their public finances.”



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Posted 16 September 2011 - 06:32 AM

So I guess the world is now flooding the market with Dollars. This should end well.

Europe's debt crisis prompts central banks to provide dollar liquidity
European and US stocks surge on news that world banks will flood markets – but Lagarde warns of 'dangerous' new phase

Fears of a deepening of Europe's debt crisis have prompted the world's leading central banks to pump US dollars into the financial system, in a co-ordinated action designed to boost market confidence.

The Bank of England joined the US Federal Reserve, the European Central Bank, the Swiss National Bank and the Bank of Japan on Thursday to announce that they would flood money markets with dollars over the coming months.

The move, on the third anniversary of the collapse of the US investment bank Lehman Brothers, sent shares soaring in banks heavily exposed to debt default by Greece and the other struggling members of the 17-nation eurozone. The euro, which had been falling in recent days, rebounded, rising roughly 1% in European trading on Thursday.

Speaking in Washington, Christine Lagarde, the president of the International Monetary Fund, said: "They [the banks] are getting together and acting together. To me, that is the most important message."

Lagarde warned that more action was needed.

"We have entered into a dangerous phase of the crisis," she said. There is still a path to recovery, Lagarde said, but it is a "narrow" one.

Under the terms of the deal, banks will be able to bid for unlimited amounts of US dollars at fixed interest rates in three separate auctions. The first of these will be on 12 October.

Nick Parsons, head of strategy at National Australia Bank, said the decision to provide unlimited liquidity well into 2012 was a big show of support to the global banking system.

But he added: "If Greece were to default, an announcement that there would be unlimited liquidity available from central banks is one of the things you would want to have in place beforehand."

The move comes as Europe's finance ministers gather in Wroclaw, Poland, for a meeting of the Economic and Financial Affairs Council, known as Ecofin. US Treasury secretary Tim Geithner is set to address the meeting for the first time, and is expected to call for decisive action.

Putting further pressure on Europe's finance ministers, the European Commission cut its growth forecast for the euro area for the rest of they year.

The commission predicted Europe would barely avoid a double-dip recession, and that growth would come to a "virtual standstill" towards the end of the year.

Gus Faucher, director of macroeconomics at Moody's Analytics, said the move to pump dollars into the system would help in the short term, but all eyes were still on the meeting of European finance ministers.

"It's not a cure; it's a temporary palliative," said Faucher. "The big question is: is this enough in the short term to get us to a longer term solution? There is a potential for a really huge financial crisis in Europe. Things are bad now, but they could get a lot worse."

Hedge fund billionaire George Soros said the Euro crisis looked "more intractable" than the 2008 financial crisis. Writing in the New York Review of Books, Soros said it was "imperative to prepare for the possibility of default and defection from the eurozone in the case of Greece, Portugal, and perhaps Ireland."

He said massive political changes were needed in Europe, including the establshment of a European Treasury, " to forestall a possible financial meltdown and another Great Depression."

In London, the FTSE 100 index closed up 110 points at 5337, over 2%. On Wall Street, the Dow Jones index gained even in the face of poor economic figures.



#546 watchman92

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Posted 18 September 2011 - 10:22 PM

To me, Christine Lagarde is completely suspect. Not only do I not trust a single thing she does, I assume that all of her actions are according to her handlers. The mere way that she was installed by that operation on Strauss-Kahn was so obvious that I don't know how anyone can trust a single thing she does. They might as well have designated her an agent, she now provides a great way to see what it is they want to do.

#547 JNKish

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Posted 30 September 2011 - 06:06 PM

BBC Speechless As Trader Tells Truth: "The Collapse Is Coming...And Goldman Rules The World"

http://youtu.be/lqN3amj6AcE

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Posted 01 October 2011 - 03:26 AM

BBC Speechless As Trader Tells Truth: "The Collapse Is Coming...And Goldman Rules The World"


Well, he has basically confirmed my suspicions I've (and some finance colleagues) had for quite some time. The world crash is coming -- say hello to global communism. 2008 was the the last chance we had to save this country.

#549 kulthur

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Posted 02 October 2011 - 08:28 AM

I agree the DSK event was an operation (note the NYTimes related NYC prosecutors disclosing that they'd discovered the "victim"'s alibi came from a cassette delivered by some African acquaintance to which she listened "repeatedly"), but whether it was mounted by the IMF I don't know. I'm not sure Lagarde plays the role you think because she has actually been among the most aggressive in calling on European banks to recapitalize in order to shield their balance sheets from the effects of a 50-70% reduction of Greek debt holdings in the event of their default. I suppose you could say she was thereby encouraging that default, since such comments from international economic institutions like the IMF will only increase the sense that Greek default is inevitable - but in fact, simply based on Greek receipts and its ability to collect taxes, everyone already knows Greece cannot hope to meet even the first and second GDP/repayment targets set by the ECB. So an honest politician would also say what Lagarde is saying: Greek debts will soon be 70% less valuable, prepare yourselves Now.

The issue is Eurozone fiscal integration. Eurozone integration is a euphemism for harnessing the debt servicing power of Germany's export-based GDP to existing liabilities. The difficulty is that, yet again, economic policy and theory are not synonymous or co-terminus with economic Reality: if German GDP drops enough because of loss of economic confidence and consumption generally, and because of the upcoming credit crunch imposed by the Greek-default-created contraction of bank balance sheets, then German GDP can't provide adequate debt servicing power either. And then? Please also note that there has been a slow-motion run on European banks in general and peripheral EMU banks in particular for about the past 18 months.

I don't think there's a credible way out of this Euro mess. I think the crash is coming, and the concept is to position the public to accept a rapid or sudden political integration, via economic integration. Of course, as JRN has pointed out occassionally, having even a powerful plan doesn't make one a master of reality - things may get well out of control. In my view, the bahavior of EMU officials does not inspire confidence in their ability to maintain control under what appear to be the prevailing circumstances over the next 6-12 months.

#550 Apollo5600

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Posted 03 October 2011 - 12:00 AM

Perhaps an economic collapse would do the world good. Except, of course, that rocket day would not be too far behind. They've promised us not to let another depression go without their taking advantage of it.

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Posted 07 October 2011 - 04:12 AM

Today we're living in uncharted waters and we all know we're on the verge of "something big". With people with backgrounds such as this, saying these things more frequently, we need to keep our eyes peeled. Build up your food stores.

MF advisor: We fave a world-wide banking meltdown -- in two to three weeks.

YouTube video here.

#552 SJL

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Posted 08 October 2011 - 01:40 PM

Well, he has basically confirmed my suspicions I've (and some finance colleagues) had for quite some time. The world crash is coming -- say hello to global communism. 2008 was the the last chance we had to save this country.

Lagardes can eat her own "Cornichons" (pikle diet in French, that is).

This is what happens when all becomes "just about sex and politics", as cynical liberals like to insist. Oh, so, there is no reality or real concern coming from the right? They are just right because it is good for politics and their polls? Can you believe these power struggling morons! "I'm wrong, but it's all politics and demagoguery, they are just as corrupt and lying greedy as I am in the end, you'd do it to if you were me."

That, folkes, is real communism, indeed. Human nature incapable of guarding anything including "human nature" itself, resulting into antihuman and antinature behavior. Thus, there is no evil they say, but there is preserving/fixing vs. disregarding/destroying paths and algorithms, in the end. Good, evil, algorithms, these things are real. We need to retake the keys of the car.

It's about the freedom to merely do one's every day business, but they will politicize everything, including how we go to the bathroom. We pay college students and people to do this stuff, right out of the Swedish feminist cook book of madness, only meant to detract us from the real issues and the real moneys and factories out there. It's a maneuver by incompetent people to find anything and everything they can complain about so they can control everything because they cannot save anything. They do not realize the champions in their caves are hardly champions at all.

This is the age of the false messiahs and of the sons of abominations who take the family car keys and gives them to their boyfriends overseas, seeing themselves not so much special because it's the family vs. some "spiffy" pseudo-professional group called community or "High School Public Teacher", which is a bunch of drug dealers and pimps funeling moneys to a death machine "leading" in necrophilia the dead. This is total madness.

The Feds, the IMF, this is for the birds, it's a ponzi scheme for elite losers, and they can keep it. So long we can keep a certain ability to reorganize a war machine and payment system and the will to take the nuclear keys back from the thieves of the East, we should be OK, but the pop culture rot is infecting ranks of the militaries and the elites becoming completely stupid themselves. So, there there, wussies we have become, and the true in wits will be forbidden from reorganizing, and the "Jews and gypsies" - key words - will be targeted.

Maybe America is victim of its own success in "massacring" so called "good savages" and Indians, but we might have a few "Sioux" left out there, perhaps, who can tell and can do and can remind us.

Thus I almost wish we had a truly hating leader who would hold and play for the keys like the worst evil thuggish retard ever, giving some of that medicine and poetic justice against whomever the apprentice sorcerer out there has been spreading out, from the depth of the French Revolution and KGB wussies "kaniving" idiots - the ultimate idiots whose sad idol is a satan incapable of spinning a bolt, let alone figure that if the endeavor has to be for righteousness itself and not just the product of righteousness, then so be it, let it be demonstrated, they can keep their teeth on the bolt and suck it stuck in their throats from the tools of others... May the truly greedy of "benefits" choke on benefits, gold and oil that they seek to hog. Who wants to serve this trash when there is greater service out there for whomever wants to serve truly?

In other words, money is not per say evil, but there are two kinds of people: those who use money and those who take care of it.

Those who only use it course the halls of greedy banks as well as crawl around the Kremlin walls and the catacombs of Paris like hungry skinny cockroaches in Beijing, begging for their "advice" to be heard and shared at the IMF, crying like a bunch of nasty sweaty maggots in world bank manure.

#553 watchman92

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Posted 10 October 2011 - 12:39 AM

I agree the DSK event was an operation (note the NYTimes related NYC prosecutors disclosing that they'd discovered the "victim"'s alibi came from a cassette delivered by some African acquaintance to which she listened "repeatedly"), but whether it was mounted by the IMF I don't know. I'm not sure Lagarde plays the role you think because she has actually been among the most aggressive in calling on European banks to recapitalize in order to shield their balance sheets from the effects of a 50-70% reduction of Greek debt holdings in the event of their default. I suppose you could say she was thereby encouraging that default, since such comments from international economic institutions like the IMF will only increase the sense that Greek default is inevitable - but in fact, simply based on Greek receipts and its ability to collect taxes, everyone already knows Greece cannot hope to meet even the first and second GDP/repayment targets set by the ECB. So an honest politician would also say what Lagarde is saying: Greek debts will soon be 70% less valuable, prepare yourselves Now.

The issue is Eurozone fiscal integration. Eurozone integration is a euphemism for harnessing the debt servicing power of Germany's export-based GDP to existing liabilities. The difficulty is that, yet again, economic policy and theory are not synonymous or co-terminus with economic Reality: if German GDP drops enough because of loss of economic confidence and consumption generally, and because of the upcoming credit crunch imposed by the Greek-default-created contraction of bank balance sheets, then German GDP can't provide adequate debt servicing power either. And then? Please also note that there has been a slow-motion run on European banks in general and peripheral EMU banks in particular for about the past 18 months.

I don't think there's a credible way out of this Euro mess. I think the crash is coming, and the concept is to position the public to accept a rapid or sudden political integration, via economic integration. Of course, as JRN has pointed out occassionally, having even a powerful plan doesn't make one a master of reality - things may get well out of control. In my view, the bahavior of EMU officials does not inspire confidence in their ability to maintain control under what appear to be the prevailing circumstances over the next 6-12 months.


There is much truth in what you say, but there's no way they pull the DSK op and then botch the Lagarde appointment. Also, "recapitalisation" of banks has taken on an almost ethereal meaning that can be interpreted any way. To the communists, it means "accept more loans" from an ever larger institution. Get the smaller ones indebted to the bigger ones, get the bigger ones indebted to the larger ones, get the larger ones indebted to the giant ones, get the giant ones indebted to the truly humonguous one-world one. Traditional pyramid scheme, I think the comms are working overtime to rewrite the financial rules as much as possible in order to use this crisis.

Regardless, we should all remember that anything can happen. Comms are not gods and are not always successful, and their plans are often thwarted.

#554 SJL

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Posted 11 October 2011 - 04:34 PM

There is much truth in what you say, but there's no way they pull the DSK op and then botch the Lagarde appointment. Also, "recapitalisation" of banks has taken on an almost ethereal meaning that can be interpreted any way. To the communists, it means "accept more loans" from an ever larger institution. Get the smaller ones indebted to the bigger ones, get the bigger ones indebted to the larger ones, get the larger ones indebted to the giant ones, get the giant ones indebted to the truly humonguous one-world one. Traditional pyramid scheme, I think the comms are working overtime to rewrite the financial rules as much as possible in order to use this crisis.

Regardless, we should all remember that anything can happen. Comms are not gods and are not always successful, and their plans are often thwarted.

I think the Moslem Brotherhood and terrorists over the world are starting to see what kind of misguided putz the leftists are, because if leftists are intimidated, through relativism and neglect of religious truth, then they obviously can only yield to a growing populace of muslims (and other worse pagan freaks who overpower "higher class" religions like Jews and Christians), occultists and what not other deranged mind possessed - and wishing to invoke what is in them to a puppet and bow to that very puppet.

This is what happens when you neglect religion out of relativism and then you blame your problems with muslims on all religious ideas or what not. Alternatively you have muslims who ignore the weaknesses in their religion turn to the left and to "Mordor"/Moscow - notwithstanding the proxy "time-gaining" ploy of Moscow through AlQaeda (in making AlQaeda insist and criticize Iran for believing it was not muslims but Americans who did 911, but it were Moscow and leftists compromised in the US who blocked the intel). Ideas are ideas, period, and whether they invoke "God" or some other entities or existentialist feelings, a body cell or what not, it's not the gun that killed the victim of the Stranger in Camus' book, it is the Stranger, the insane animal manifestation who did it - ie. localizing oneself to cellular behavior is like leaving the atomic animal instead of the coherent whole to take power, and this is cancer. But at least with "God", it's not like invoking "Science".

Leftists like to say they do not discuss religion because it is a belief and cannot be changed or discussed, but it is quite the opposite. It is the irrevocability of the word "Science" which turns those in scientific error despite their scientific credentials to in the end implicate murderous and reckless policies without questions. Bureaucrates obey and follow orders to the letter in the name of science, even the worst attrocities, but if it were in the name of a humbly declared religious cause that would need questioning, things would be much healthier, however imperfect or old the religion or "tradition" would be. And this is notwithstanding the utilitarianist free loading view of science as a way to get free stuff in communist paradize, this Eldorado pyramid scheme that thinks that freedom and science are free, vs. the caring for science.

Money is not evil, it's just that you have the low class money users vs. the higher class money creators and carers of money, and the former attack money, the latter, ie. "the capitalists", blaming them for the "addictions" as the Tobacco smokers will blame tobacco and the lack of laws preventing smoking! It's why leftists make fun of Ron Paul and Libertarians calling for Ending the Feds, because it is a naive cause. Leftists so far want to "occupy" Wall Street, to build 10 government jobs for every private job to suck out of, instead of the normal tithe of 1 government job for every 10 jobs created in the private sector, as the private sector deems it reasonable. This is the bottom line that big failing corporations and unions and governments do not get - because they do not have faith in this compounding effect that they themselves abuse for usury reasons and instead loan sharking in absolute short sighted and localized feel good cause.

And leftists are not gods indeed, but slaves of slaves. They derive their power only from collective folly sweeping entire regions, and that power is like a London riot followed by the sobering rigors of poverty and misery in total crack headed denial. The Unionization of religion, and the regular bureaucratic neglect which will allow an illegal Mexican to become quickly successful but yet imposes ridiculous red tape on every day American who got out of high school and got a GED instead, almost forcing them back to highschool even though they have higher degrees, is the type of whirlwind of insanity that leftism and communism ultimately self degrades itself into various deteriorating behaviors and branches. In a way, communism can be summed up as a comprehensive review of misfiting life and "synthesizing" it into its "black hole" core of evil imploding on itself. Hence the words "synthesis" or "capitalism, then socialism and then communism", and other "high" words of the French revolution repeated by a derangedly seduced Karl Marx.


These people think that because they are of the "right age", or that because they dealt with alcohol and sex early, that they are more mature and knowledgeable than their other peers who still live in "prebubescent" or "big kid" lives as naive bourgeois. It's this evil culture of giving bad grades to a child who is not "mature" instead of rewarding the one in self restriction, calling it "unassertive", lacking leadership or guts etc... this "public school" "cool" culture - of which the like of Lenin as the perverted son of a perverted School Principal - which invariably takes over, propagates itself in its wrong righteousness and ego authority later on, and keeps its "big brother/sister" abusive cultural dominance later on. THese people were raised by perverts who had an interest in having "mature" children surrounding them, and they are foolishly flattered by this monster that raised" or impressed them, instead of seeing the evil and persecution they endured, and the batton, the madness gets passed on, when a simple step out of this "boarding" school would change their habits overnight, while through the boarding school, the habit endures as a sort of tradition, turning whoever goes through it as fodder for it, using their energies to keep this tune going. And this going tune of the worker banging on a drum the same way that was banged way back then, this "security" and this "tradition/conservatism" berated by the left, is in a sort of way very leftist in that aspect: they will keep saying and talking and doing the same stupid thing again and again, the job protected by how closely the "tradition" is held, or, more than a tradition, a complete cookie cutter download of Leninian idiocy, brainwash and obsessive compulsive retarded blind and proud behavior.

#555 SJL

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Posted 16 October 2011 - 09:48 AM

Nail on the head there by JRN

http://www.financial...t-of-the-matter

If we look back at history, we see that inflation and economic stagnation can exist together. We also see that inflation is the natural course of government when leaders prove themselves ignorant. And why should leaders be any more enlightened than the so-called “experts” and professors who advise them today? What was taken as common sense for centuries is now considered out-of-date. The same John Maynard Keynes quoted above also said, “In truth, the gold standard is already a barbarous relic.” Indeed! The Roman Emperor Caracalla debased the silver denarius from 95 percent silver to 50 percent and then 0.5 percent. Barbarian mercenaries in service to the emperor would not accept payment in Roman coins, but insisted on payment in gold.

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Posted 29 October 2011 - 04:25 AM

The title says it all.


Dollar Decline in Full Swing in Risk-On Environment

The U.S. dollar's thrashing on Thursday after a last-minute European deal to contain the debt crisis may have sealed the currency's fate.

And it is all downhill from here.

The European agreement, which involves a 50 percent write-down of Greek debt and boosting the euro zone's bailout fund to as much as 1 trillion euros, has averted a collapse in Europe and spurred a rush to risky currencies and assets once again at the expense of the dollar.

Add in to the mix: a suddenly revitalized U.S. economy that a few weeks ago was teetering on the verge of recession and had fueled speculation about another round of quantitative easing. Almost overnight it leaves a whole new global outlook that appears a little more encouraging.

The dollar [.DXY 75.09 Posted Image 0.21 (+0.28%) Posted Image], with its near-zero interest rates guaranteed over the next two years, is the first to get sold off in times of global optimism, as investors use the greenback to fund the market's foray into risky trades.

"When economic conditions are not deteriorating, there is a general risk-loving mode and the dollar will remain the primary funding currency," said Alessio de Longis, portfolio manager for the Oppenheimer Currency Opportunities fund in New York.

Oppenheimer has assets under management of $163.52 billion as of September 30.

"There is a deployment of capital from the United States to the rest of the world. As the risk of collapse to economic growth diminishes, investors are slowly but surely putting capital back to work," said De Longis.

On Thursday, the greenback plunged to a seven-week low against the euro and plumbed multi-week troughs versus the Australian dollar and Swiss franc on the back of the European deal.
And while the EU agreement is far from perfect, with the details to be finalized by the end of the year, it was a step in the right direction and has boosted market confidence markedly.

"The deal has stopped the rot and plugged the leak. The ship needs to sail in the right direction and this deal has helped it do so," said Steven Bell, portfolio manager and director of global macro hedge fund GLC Ltd in London. GLC as assets under management of about $1 billion.

"The process has been chaotic, with a lot of back and forth on the summit, but the euro in its sort of funny, old messy way gets there even as the pressure mounts," said Bell, whose fund currently has no position on the euro.

FX Options Display Optimism
The currency options market is indicating a fair amount of optimism as well.

Implied volatility on one-month euro/dollar options, a gauge of expectations regarding a currency's price action, dropped on Thursday to 13.30 percent, from 14.85 percent late on Wednesday. Declining volatility suggests investors are not as worried about the situation in Europe and t erefore see less need to hedge against any negative event that may come out of the region.

Even sentiment on the euro, which has been fairly downbeat the last few years improved on Thursday based on the risk reversal measure in the options market. And while investors in general still expect the currency to decline, risk reversals have come off extreme levels.

On Thursday, one-month risk reversals in euro/dollar showed bias for euro puts, improving to -3.3 vols, suggesting the market is expecting more declines in the currency, from as low as -3.9 vols late on Wednesday.

Not Straight Line for the Dollar

But as in any market, the dollar's decline won't be straightforward.

Indeed if the implementation of the EU agreement stalls or if there is a sudden freeze-up in global credit, investors are likely to buy dollars, as they have always done in the past in times of market stress.

"We are in a situation where banks are generally deleveraging and that I think has implications for dollar credit," said Jens Nordvig, global head of G10 FX strategy at Nomura Securities in New York. "If the creation of dollar credit gets impaired, that could be supportive of the dollar."

But that's something few investors are worried about right now as global central banks have been more than willing to provide liquidity to banks through their swap lines.
In the meantime, the trend to sell the dollar is in full swing and not many are willing to go against it.



#557 JNKish

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Posted 06 November 2011 - 04:09 PM

Cartoon - The Chicago Tribune 1934
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http://johnbatchelor...rtoon 1934 .png

#558 befruitful

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Posted 19 December 2011 - 02:08 AM

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Pigs have 14 teets. This cartoon needs a photoshop.

#559 befruitful

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Posted 25 January 2012 - 02:56 AM

woops...
India to pay gold instead of dollars for Iranian oil. Oil and gold markets stunned

DEBKAfile

Exclusive Report

January 23, 2012, 5:57 PM (GMT+02:00)


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Iranian oil for India


India is the first buyer of Iranian oil to agree to pay for its purchases in gold instead of the US dollar, DEBKAfile's intelligence and Iranian sources report exclusively. Those sources expect China to follow suit. India and China take about one million barrels per day, or 40 percent of Iran's total exports of 2.5 million bpd. Both are superpowers in terms of gold assets.


By trading in gold, New Delhi and Beijing enable Tehran to bypass the upcoming freeze on its central bank's assets and the oil embargo which the European Union's foreign ministers agreed to impose Monday, Jan. 23. The EU currently buys around 20 percent of Iran's oil exports.


The vast sums involved in these transactions are expected, furthermore, to boost the price of gold and depress the value of the dollar on world markets.
Iran's second largest customer after China, India purchases around $12 billion a year's worth of Iranian crude, or about 12 percent of its consumption. Delhi is to execute its transactions, according to our sources, through two state-owned banks: the Calcutta-based UCO Bank, whose board of directors is made up of Indian government and Reserve Bank of India representatives; and Halk Bankasi (Peoples Bank), Turkey's seventh largest bank which is owned by the government.
An Indian delegation visited Tehran last week to discuss payment options in view of the new sanctions. The two sides were reported to have agreed that payment for the oil purchased would be partly in yen and partly in rupees. The switch to gold was kept dark.


India thus joins China in opting out of the US-led European sanctions against Iran's international oil and financial business. Turkey announced publicly last week that it would not adhere to any sanctions against Iran's nuclear program unless they were imposed by the United Nations Security Council.
The EU decision of Monday banned the signing of new oil contracts with Iran at once, while phasing out existing transactions by July 1, 2012, when the European embargo, like the measure enforced by the United States, becomes total. The European foreign ministers also approved a freeze on the assets of the Central Bank of Iran which handles all the country's oil transactions.
However, the damage those sanctions cause the Iranian economy will be substantially cushioned by the oil deals to be channeled through Turkish and Indian state banks. China for its part has declared its opposition to sanctions against Iran.


DEBKAfile's intelligence sources disclose that Tehran has set up alternative financial mechanisms with China and Russia for getting paid for its oil in currencies other than US dollars. Both Beijing and Moscow are keeping the workings of those mechanisms top secret.



#560 SJL

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Posted 25 January 2012 - 04:19 PM

If Iran got oil and gold, it would be interesting power.

Money does not exist in a vaccuum. It is part business, part materials, and part mean of exchange so as to provide an alternative to bartering the same goods and instead reaching out through the world for other goods (a catalyst contract with bank service fees and risk mitigation). It can be vigilantist through free borrowing but that should be mitigated by a post inspection, allowing helpers to inspect the deals instead of this budget free for all rush. Gold, oil, business franchise flows are all there to participate in proving a currency through this due process. However the current crop of out of control taxation and budget betrays the assumption of optimism and instead mean panic. The so called optimists are the one in a panic. they lie and they refuse internalization and time to think things through, thus Obama screams on for this or that science budget offensively without humble hypothesis nor any counter science expressed by the opposition other than picking names they like and hope think it through for them. It's ridiculous.

Derivatives are nonsense because they are essentialy money backing money at a future date, and this promotes speculative cannibalization of money using itself incestuously.

The current crop of GOP centrists are a mix of old retired CIA operaties who failed to see the deception along with teir even more emotional and clueless sons and daughters.

Fact of the matter ploy is that the KGB is still alive in the Kremlin and in the CIA while
the right wing CiA is now dying or dead, fooled and in peaceful dividend mode

It"s eas to figure that ex CIA people seek carriers in the news media and they are total failures.

The death of the US dollar is an aesopian message of the death and the fooling of these failed right wing branches. T's hysterical how they even go to the point of denial and getting themselves dragged in on the side of communist provocation in favor of tyranny and civil war.





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