This article was written back in May, but I find it to be a plausible explanation which ties together just a few loose ends....if you mess with the dollar, they mess with you, just like they did with Strauss Kahn, Saddam, and Gadaffi...It also might explain why the gruesome death of Gadaffi was televised so blatantly all over the world: as a message to anyone who threatens to rock the 'U.S. Dollar boat', this is what you get.
From Global Research.
...So, Strauss-Kahn finds himself in the same crowd as Saddam Hussein and Libyan leader Muammar Gaddafi, right? You may recall that Saddam switched from dollars to euros about a year before the war. 12 months later Iraq was invaded, Saddam was hanged, and the dollar was restored to power. Gaddafi made a similar mistake when "he initiated a movement to refuse the dollar and the euro, and called on Arab and African nations to use a new currency instead, the gold dinar." ("Libya: All About Oil, or All About Central Banking?" Ellen Brown, Op-Ed News) Libya has since come under attack by US and NATO forces which have armed a motley group of dissidents, malcontents and terrorists to depose Gaddafi and reimpose dollar hegemony.
And now it's Strauss-Kahn's turn to get torn to shreds. And for good reason. After all, DSK actually poses a much greater threat to the dollar than either Saddam or Gaddafi because he's in the perfect position to shape policy and to persuade foreign heads of state that replacing the dollar is in their best interests. And that is precisely what he was doing; badmouthing the buck. Only he was too dense to figure out that the dollar is the US Mafia's mealticket, the main way that shifty banksters and corporate scalawags extort tribute from the poorest people on earth. Strauss-Kahn was rocking the boat, and now he's going to pay...
Read more...
But that's not all...as we learn from the next article by Thierry Meysan
First of all on March 29, 2009, the governor of the Chinese Central bank, Zhou Xiaochuan, called into question the domination of the dollar as international reserve currency. Deploring the fact that economist John Maynard Keynes' project to create an international currency (Bancor) was not carried out at the end of the Second World War, he proposed using the the IMF's Special Drawing Rights (SDR) to play this part [10].
Yielding to the pressure, the United States accepts a tripling of IMF resources and the emission by the IMF of Special Drawing Rights of a value of 250 billion dollars at the time of the G20 summit in London on April 2, 2009. They also accept the principle of a Financial Stability Council with which the biggest emerging nations will be associated.
The idea is discussed at the G8 summit at Aquila (Italy) on July 8, 2009. Pushing the pawn further still, Russia showed itself unsatisfied with a virtual world currency and actually minted one. Dmitry Medevedev, who had had some symbolic prototypes of this currency struck, placed some coins on the table. One side showed the eight heads of state while the other read "Unity in Diversity," in English[11].
The project is submitted to the experts of the UN's Division of Economic and Social Affairs. Their report, in which professor Vladimir Popov of Moscow's New Economic School takes part, is studied at a meeting of the IMF and the World Bank on April 25, 2010 [12].
The process was to finish today, May 26, 2011, at the G8 summit in Deauville (France). The dollar would have ceased being the currency of reference due to the imminent suspension of payments by the federal government of the United States. Washington would have to have given up financing its military hyper-power with debt to instead devote itself to internal reorganization.
The Libyan dinar, first (and last?) currency in the world guaranteed by gold and IMF Special Drawing Rights. In 2000, Colonel Kadhafi talked of creating a Panafrican currency based on gold but never managed to advance the idea. In 2009 he unilaterally adopted the Zhou project for his country.
The grain of sand
Unfortunately, in the last months of this process, military and political initiatives upset this plan. Certain states - of which Russia and China - were swindled. The arrest of DSK shows that Washington was insincere and that its concessions were only aimed at saving time.
Although the exact details of the mechanics imagined by Dominique Strauss-Kahn to create this new reserve currency backed by IMF Special Drawing Rights is secret, it appears that Libya played a key role there: it was the Libyan Central bank which first decided to base its currency, the dinar, on gold and the SDRs, on an experimental basis. The thing is all the more important as Libya has among the most well endowed sovereign funds in the world (even a little richer than Russia's).
In waging war on Libya, France and the United Kingdom caused a theoretical freezing of assets not only of the Kadhafi family, but also of the Libyan state. Worse, Paris and London dispatched executives of the HSBC bank to Benghazi to create a rebel Libyan Central bank and to try to seize the country's national assets [13]. Without knowing whether Nicolas Sarkozy and David Cameron let themselves be carried away with their power or acted on instructions from Washington, the fragile edifice worked out by Dominique Strauss-Kahn has crumbled.
According to our contacts in Tripoli, at the time of his arrest, DSK was on his way to Berlin to find a solution with the chancellor Angela Merkel. He was then due to leave with an emissary of Mrs. Merkel's to negotiate with representatives of Colonel Kadhafi - even with him directly - the Libyan leader's signature being essential to the unblocking of the situation.
We are watching unfold a financial war of unprecedented scale; whereas the economic situation of the United States is unstable and the dollar could quickly become a worthless currency, the agreement concluded at the G8 and endorsed by the G20, implemented by the IMF in coordination with the World Bank and the international banking milieu whose champion was DSK, is now suspended. The domination of the dollar is intact though more than ever artificial; this dollar that the emerging nations wanted to marginalize, but upon which the US-Israeli military-industrial complex bases its power.
In that context, what is one man's honor worth ?
Showing posts with label u.s. dollar. Show all posts
Showing posts with label u.s. dollar. Show all posts
Thursday, December 8, 2011
Monday, September 5, 2011
Thursday, July 14, 2011
US Default Inevitable: Fund Manager
From CNBC
A U.S. default isn't a matter of "if" but "when," David Murrin, chief investment officer at Emergent Asset Management, told CNBC.
"It's inevitable that the U.S. will default—it's essentially an empire which is overextended and in decline—and that its financial system will go with it," he said.
The question is: Does the U.S. default when it is forced to by the outside world, probably the Chinese, or does it take the option to default on its own terms in such a way that it may have a strategic advantage, Murrin said.
Marc Faber has a slightly different view:
“I don’t think the US will default in terms of not paying the interest on its debt. They will though default via a falling dollar as Bernanke begins printing more money,” Faber said.
“They will get an agreement or fiddle around with the debt ceiling,” Faber said.
“I disagree with the bond bulls that are basing their case on a deflationary environment. In such an outcome tax revenues would collapse and stocks would fall heavily.”
Faber predicts that 1,370 points was the high for the S&P 500 index in 2011 and told CNBC that if stocks fall another 10 or 20 percent from here, another round of quantitative easing is inevitable.
“The risk is not to hold gold. Whilst there is the potential for 10 percent downside in the short term over the next 5 to 10 years the gains will be big. Or put another way, the purchasing power of paper money will fall," Faber said.
“Cash is very risky asset except in times of major market corrections,” he added.
A U.S. default isn't a matter of "if" but "when," David Murrin, chief investment officer at Emergent Asset Management, told CNBC.
"It's inevitable that the U.S. will default—it's essentially an empire which is overextended and in decline—and that its financial system will go with it," he said.
The question is: Does the U.S. default when it is forced to by the outside world, probably the Chinese, or does it take the option to default on its own terms in such a way that it may have a strategic advantage, Murrin said.
Marc Faber has a slightly different view:
“I don’t think the US will default in terms of not paying the interest on its debt. They will though default via a falling dollar as Bernanke begins printing more money,” Faber said.
“They will get an agreement or fiddle around with the debt ceiling,” Faber said.
“I disagree with the bond bulls that are basing their case on a deflationary environment. In such an outcome tax revenues would collapse and stocks would fall heavily.”
Faber predicts that 1,370 points was the high for the S&P 500 index in 2011 and told CNBC that if stocks fall another 10 or 20 percent from here, another round of quantitative easing is inevitable.
“The risk is not to hold gold. Whilst there is the potential for 10 percent downside in the short term over the next 5 to 10 years the gains will be big. Or put another way, the purchasing power of paper money will fall," Faber said.
“Cash is very risky asset except in times of major market corrections,” he added.
Saturday, May 28, 2011
U.S. dollar could 'collapse': UN
From Reuters.
UNITED NATIONS – The United Nations warned on Wednesday of a possible crisis of confidence in, and even a “collapse” of, the U.S. dollar if its value against other currencies continued to decline.
In a mid-year review of the world economy, the UN economic division said such a development, stemming from the falling value of foreign dollar holdings, would imperil the global financial system.
The report, an update of the UN “World Economic Situation and Prospects 2011” report first issued in December, noted that the dollar exchange rate against a basket of other key currencies had reached its lowest level since the 1970s.
This trend, it said, had recently been driven in part by interest rate differentials between the United States and other major economies and growing concern about the sustainability of the U.S. public debt, half of which is held by foreigners.
“As a result, further (expected) losses of the book value of the vast foreign reserve holdings could trigger a crisis of confidence in the reserve currency, which would put the entire global financial system at risk,” it said.
The 17-page report referred at another point to the “still looming risk of a collapse of the United States dollar.”
Rob Vos, a senior UN economist involved with the report, said if emerging markets “massively start selling off dollars, then you can have this risk of a slide in the dollar.
“We’re not saying the collapse is imminent, but the factors are further building up that we could quickly come to that stage if other things are not improving quickly on other fronts — like the risk of the U.S. not being able to service its obligations,” he told Reuters.
Read more...
UNITED NATIONS – The United Nations warned on Wednesday of a possible crisis of confidence in, and even a “collapse” of, the U.S. dollar if its value against other currencies continued to decline.
In a mid-year review of the world economy, the UN economic division said such a development, stemming from the falling value of foreign dollar holdings, would imperil the global financial system.
The report, an update of the UN “World Economic Situation and Prospects 2011” report first issued in December, noted that the dollar exchange rate against a basket of other key currencies had reached its lowest level since the 1970s.
This trend, it said, had recently been driven in part by interest rate differentials between the United States and other major economies and growing concern about the sustainability of the U.S. public debt, half of which is held by foreigners.
“As a result, further (expected) losses of the book value of the vast foreign reserve holdings could trigger a crisis of confidence in the reserve currency, which would put the entire global financial system at risk,” it said.
The 17-page report referred at another point to the “still looming risk of a collapse of the United States dollar.”
Rob Vos, a senior UN economist involved with the report, said if emerging markets “massively start selling off dollars, then you can have this risk of a slide in the dollar.
“We’re not saying the collapse is imminent, but the factors are further building up that we could quickly come to that stage if other things are not improving quickly on other fronts — like the risk of the U.S. not being able to service its obligations,” he told Reuters.
Read more...
Thursday, May 5, 2011
Monday, May 2, 2011
France sees U.S. economic lift from bin Laden death
From Reuters.
(Reuters) - French Finance Minister Christine Lagarde on Monday welcomed the killing of al Qaeda leader Osama bin Laden and said his death could bolster consumer confidence and economic growth in the United States.
(Reuters) - French Finance Minister Christine Lagarde on Monday welcomed the killing of al Qaeda leader Osama bin Laden and said his death could bolster consumer confidence and economic growth in the United States.
Last Ditch Effort To Save U.S. Dollar, Oligarchy Power...Santa Claus Is Dead, I mean Easter Bunny, I mean Osama Bin Laden! Hurrah! Hurrah!
The guy on the right (see photo) is dead they say. The guy on the left is an advisor to U.S. Presidents and the global elite, Zbigniew Brzezinski.
Run to your Telescreen to celebrate!
From Cryptogon
May 2nd, 2011
I’m away from home, so, I’ll just quickly open this thread in case anyone wants to unburden themselves.
I don’t have a lot to say on this, other than:
‘Use it if you got it, boys, this is it.’
and…
Osama bin Laden: A dead nemesis perpetuated by the US government
Now, enjoy the Two Minutes Hate!
Sunday, April 10, 2011
‘Gold's advance to super cycle indicates demise of dollar, collapse of economy’
The dollar might not collapse here, but if it does, it's of course extremely serious. When serious business publications, billionaires, and financial experts are talking seriously about the demise of the dollar, ignore the warnings at your own risk.
From International Business Times
The runaway rise in gold prices is here to stay. And that is not just bad news to the U.S. economy. A sustained gold and oil boom indicates that the dollar is slipping into grave danger and the economy closer to collapse.
"... when these commodities go up in price it is a sign that the U.S. dollar is dying and that our country is getting closer to economic collapse," Michael Snyder wrote in Daily Markets on Thursday.
In simple words, the gold and silver boom indicates that investors everywhere in the world are losing trust in the dollar and the U.S. government treasuries. And they seek out something they can trust more...
Read more...
U.S. Dollar
From Cryptogon.
You should know by now that I’m not one of these Chicken Little fast crash snake handlers that are predicting The End every five minutes, but I’d like everyone reading to know that 70.792 is a big deal. If the slide continues and 70.792 breaks down, that would represent an extremely serious emergency and probably the end of the current global financial system...
Read more...
From International Business Times
The runaway rise in gold prices is here to stay. And that is not just bad news to the U.S. economy. A sustained gold and oil boom indicates that the dollar is slipping into grave danger and the economy closer to collapse.
"... when these commodities go up in price it is a sign that the U.S. dollar is dying and that our country is getting closer to economic collapse," Michael Snyder wrote in Daily Markets on Thursday.
In simple words, the gold and silver boom indicates that investors everywhere in the world are losing trust in the dollar and the U.S. government treasuries. And they seek out something they can trust more...
Read more...
U.S. Dollar
From Cryptogon.
You should know by now that I’m not one of these Chicken Little fast crash snake handlers that are predicting The End every five minutes, but I’d like everyone reading to know that 70.792 is a big deal. If the slide continues and 70.792 breaks down, that would represent an extremely serious emergency and probably the end of the current global financial system...
Read more...
Saturday, April 9, 2011
Into The Close (updated)
From Along The Watchtower
We should all be very enthused by the action today....a little sad and apprehensive, too. Days like these just make it more obvious that we are correct. Yes, the current economic system is ending. Fortunately, there is still time to prepare but prepare we must. Hard times lie ahead...
Tuesday, April 5, 2011
Fed Shill on Facebook Bashing Silver
I'll skip the comments he makes trying to encourage people NOT to buy silver. Important is to notice here who he works for: The Department of Defense, and the Federal Reserve. I will just quote the one quote which for me was the most intriguingly honest. Go to the link if you want to read his other "assertions."
From Max Keiser.
The prevailing trend in [the U.S dollar] is down. We can see this, this is intentional, the US produces weapons worldwide. We must increase exports. The [U.S. dollar] must be maintained low to ensure arms distribution. Manufacturing in the US is synonymous with weapons production...
From Max Keiser.
The prevailing trend in [the U.S dollar] is down. We can see this, this is intentional, the US produces weapons worldwide. We must increase exports. The [U.S. dollar] must be maintained low to ensure arms distribution. Manufacturing in the US is synonymous with weapons production...
Monday, March 28, 2011
Monday, March 21, 2011
Jim Rogers: “We’re at a moment of truth for the dollar."
From Beacon Equity
“We’re at a moment of truth for the dollar,” Rogers continued. “If the dollar breaks and keeps going down now . . . there’s a lot of good news for the dollar: the Middle East is erupting–supposed good news for the dollar. All of these people are supposed to be fleeing to the U.S. dollar as a currency for safety. But it’s not happening. When you start seeing good news for something and it goes down, it’s usually a good sign that you better get out fast.”
The dollar’s next move is critical, he said, as a break down to near the all-time lows for the currency at approximately 71 on the USDX achieved just prior to the Bear Stearns meltdown of March 2008 will turn him into a seller of the dollar.
“If it [dollar] keeps going down, I’m going to have to dump the rest of my dollars, and then it’s all over for the dollar.”
However, if the Greenback stops sliding from its present 75.60 level on the USDX, Rogers will consider buying dollars again for what he sees could be another significant rally.
“I am thinking about buying it [dollar], because if it doesn’t keep going down, then it’s going to have a big rally,” he offered. “If it holds here, it probably could go up 10% or 12%–no, maybe 20%.”
But on the downside, Rogers put the dollar on a short leash, “If it goes down 3% or 4% from here, I would have to sell and get out and hope I’m still solvent. Then it’s going to, you know, multi-decade new lows.”
“Somewhere along the line we’re going to have a tipping point for the dollar, then, it’s all over,” he concluded. “I thought it would happen in a few years; maybe it’s going to happen in a few weeks.”
“We’re at a moment of truth for the dollar,” Rogers continued. “If the dollar breaks and keeps going down now . . . there’s a lot of good news for the dollar: the Middle East is erupting–supposed good news for the dollar. All of these people are supposed to be fleeing to the U.S. dollar as a currency for safety. But it’s not happening. When you start seeing good news for something and it goes down, it’s usually a good sign that you better get out fast.”
The dollar’s next move is critical, he said, as a break down to near the all-time lows for the currency at approximately 71 on the USDX achieved just prior to the Bear Stearns meltdown of March 2008 will turn him into a seller of the dollar.
“If it [dollar] keeps going down, I’m going to have to dump the rest of my dollars, and then it’s all over for the dollar.”
However, if the Greenback stops sliding from its present 75.60 level on the USDX, Rogers will consider buying dollars again for what he sees could be another significant rally.
“I am thinking about buying it [dollar], because if it doesn’t keep going down, then it’s going to have a big rally,” he offered. “If it holds here, it probably could go up 10% or 12%–no, maybe 20%.”
But on the downside, Rogers put the dollar on a short leash, “If it goes down 3% or 4% from here, I would have to sell and get out and hope I’m still solvent. Then it’s going to, you know, multi-decade new lows.”
“Somewhere along the line we’re going to have a tipping point for the dollar, then, it’s all over,” he concluded. “I thought it would happen in a few years; maybe it’s going to happen in a few weeks.”
Wednesday, December 29, 2010
Max Keiser: Silver Campaign Working
From MaxKeiser.com
The global campaign to jack Silver to $500 and crash JP Morgan is working. Don’t be caught holding worthless paper “money.” Convert cash to Silver now while you still can. Once the price breaks $32.60 – $50 is in the bag.
The global campaign to jack Silver to $500 and crash JP Morgan is working. Don’t be caught holding worthless paper “money.” Convert cash to Silver now while you still can. Once the price breaks $32.60 – $50 is in the bag.
Saturday, December 18, 2010
Exclusive: US empire could collapse at any time, Pulitzer winner tells Raw Story
From Raw Story.
America's military and economic empire could collapse at any time, but predicting the precise day, week or month of its potential demise is unattainable, according to a former New York Times war correspondent who spoke with Raw Story.
"The when and how is very dangerous to predict because there's always some factor that blindsides you that you didn't expect," Pulitzer-winning journalist Chris Hedges said in an exclusive interview. "It doesn't look good. But exactly how it plays out and when it plays out, having covered disintegrating societies, it's impossible to tell."...
"We've undergone a corporate coup d'état in slow motion," he said. "Our public education system has been gutted. Our infrastructure is corroding and collapsing. Unless we begin to physically resist, they are going to solidify neo-feudalism in this country."
"If we think that Obama is bad, watch the next two years because these corporate forces have turned their back on him," Hedges warned.
Hedges, author of "Death of the Liberal Class," said that his vision of America is one with a functioning social democracy, which stands in stark contrast to the nihilism of the corporate state.
"American workers, as they are repeatedly told, will have to become competitive with prison labor in China," he said. "That's where we're headed, and all the pillars of the liberal establishment are complicit in this."
"At least if you get sick in the UK, you don't go bankrupt or die," he added.
Hedges said that another pressure point is the US dollar, which he pointed out had been dropped by Russia and China in favor of modified ruble/renminbi exchanges.
"A few more deals like that, and our currency becomes junk," he said.
America's military and economic empire could collapse at any time, but predicting the precise day, week or month of its potential demise is unattainable, according to a former New York Times war correspondent who spoke with Raw Story.
"The when and how is very dangerous to predict because there's always some factor that blindsides you that you didn't expect," Pulitzer-winning journalist Chris Hedges said in an exclusive interview. "It doesn't look good. But exactly how it plays out and when it plays out, having covered disintegrating societies, it's impossible to tell."...
"We've undergone a corporate coup d'état in slow motion," he said. "Our public education system has been gutted. Our infrastructure is corroding and collapsing. Unless we begin to physically resist, they are going to solidify neo-feudalism in this country."
"If we think that Obama is bad, watch the next two years because these corporate forces have turned their back on him," Hedges warned.
Hedges, author of "Death of the Liberal Class," said that his vision of America is one with a functioning social democracy, which stands in stark contrast to the nihilism of the corporate state.
"American workers, as they are repeatedly told, will have to become competitive with prison labor in China," he said. "That's where we're headed, and all the pillars of the liberal establishment are complicit in this."
"At least if you get sick in the UK, you don't go bankrupt or die," he added.
Hedges said that another pressure point is the US dollar, which he pointed out had been dropped by Russia and China in favor of modified ruble/renminbi exchanges.
"A few more deals like that, and our currency becomes junk," he said.
Tuesday, December 14, 2010
Sunday, November 14, 2010
The Terminal Value Of The Dollar Is Precisely Zero.
From Marc Faber Blog.
The terminal value of the dollar is precisely zero, the printing cost of bank note that is the intrinsic value of the dollar. But it will not move there right away.
Since the formation of the federal reserve, in 1913, the price of gold has gone up from USD 25/oz to over US 1400/oz, In other words the value of a dollar bill has gone down by 97% in gold terms and it took more than a 100 years. Now the next time the value of the dollar declines by 97% won’t take a 100 years I think it will happen in 10-15 years.
The terminal value of the dollar is precisely zero, the printing cost of bank note that is the intrinsic value of the dollar. But it will not move there right away.
Since the formation of the federal reserve, in 1913, the price of gold has gone up from USD 25/oz to over US 1400/oz, In other words the value of a dollar bill has gone down by 97% in gold terms and it took more than a 100 years. Now the next time the value of the dollar declines by 97% won’t take a 100 years I think it will happen in 10-15 years.
Thursday, October 14, 2010
U.S. is currency war's "tomb maker": China economist
From Reuters.
The United States fired the first shot in the currency war and the rest of the world must be on guard for its deliberate strategy to devalue the dollar, a Chinese economist said in an official newspaper on Thursday.
The United States fired the first shot in the currency war and the rest of the world must be on guard for its deliberate strategy to devalue the dollar, a Chinese economist said in an official newspaper on Thursday.
Tuesday, September 28, 2010
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