|
|
November 02 What is clear is that in the United States, where the sovereign is the elected government, an elite segment of society, namely bankers and other extremely wealthy individuals, are playing by the old rules, the rules of the state of nature, and they are grabbing as much of the pie as they can. All this while the sovereign has at best lost the ability to resist this crime, or at worst, is actively complicit. But the vast majority of citizens are sitting by idly still thinking they live in a commonwealth with laws and justice. Has the Government Broken the Social Contract with the American People? ~ Washington's Blog October 18 TEHRAN -- The Trade Promotion Organization of Iran (TPOI) announced this week that it plans to exclude the U.S. dollar from Iran’s foreign exchange reserves.
In line with this plan, Iran has informed Japan that it should use the yen instead of dollars to pay for the oil it buys from the Islamic Republic.
In addition, Iran has decided to open a bourse for oil and gas transactions in currencies other than the U.S. dollar, especially the euro.
Although the opening of the new bourse has been postponed several times, the plan shows the country’s determination to replace the dollar in its oil and gas transactions.
The TPOI has also announced that since October 2007 Iran has sold 85 percent of its oil exports in currencies other than the U.S. dollar and is determined to sell the remaining 15 percent in other currencies such as the UAE dirham.
During his first term, Iranian President Mahmoud Ahmadinejad ordered that the dollar should be replaced by the euro in the transactions of Iran’s currency reserve fund.
Herein lies the real reason the Duhmerican’ts are so determined to go to war in Iran. Iran to drop dollar from forex reserves - Tehran Times October 08 Overnight, the U.S. dollar continued to fall against most Asian currencies, prompting a wave of foreign-exchange intervention by central banks in South Korea, Taiwan, the Philippines and Thailand.
Things are really bad when the Philippines is propping up the dollar. The Philippines!
These declines are really hard to stop, near impossible. Is this the the start of the tsunami wall of dollars that could hit markets?
Remember a panic out of the dollar is unlike any other currency panic we have seen. As the defacto international reserve currency (though obviously slipping from that status), every country, every international corporation is holding them--all possible points of panic.
A full fledged world panic out of the dollar will mean huge U.S. inflation, soaring gold and the financial system rocked to the core.
How will the U. S. be able to finance its debt under these conditions. This could be the big one. HOT: Dollar Intervention!!! October 06 The system has broken, but the syndicate in control wishes to keep the music going, keep the machinery turning, keep the money flowing, so that they can continue the massive rackets, bury the frauds & counterfeit, cover their tracks, process the bad paper into USGovt coffers, continue to corner the printing press operations, continue to con the USCongress into granting more funds for Goldman Sachs to dictate dispensation secretly, and to continue the endless war whose rivers of blood are matched only by rivers of redirected private contractor fraudulent payments. Nobody seeks justice and prosecution for over $1 trillion in mortgage bond fraud. Nobody seeks to remove Goldman Sachs and JPMorgan from control posts at the USDept Treasury and USFed respectively. Nobody seeks even to locate the missing $50 billion from the Iraq Reconstruction Fund, or to announce the known location of the stolen $100 billion from the Madoff Ponzi Scheme (it aint $50B and they know its exact hiding place).Foreigners have been very busy since the autumn 2008, as they dismantle the levers, knock down the pillars, block the escape routes, yank the collateral from the paper marketplaces, and otherwise thwart the US-UK schemes. To claim that the system can be put on proper stable footing is lunatic. To expect that the nation can be recalibrated so as to return to the Good Ole Days of US global dominance and leadership is lunatic. To urge that the economic signposts, megaphones, and billboards be once again guided by policies best described as Bubbly Economic Mythology is lunatic U.S. Financial System Systemic Failure Approaches October 05 In fact, my forecast is for systemic failure. Its primary elements will be a failed US banking system (as in seizure) and a USTreasury Bond default (as in coerced restructure). Again, martial law and declaration of economic emergency will be the final solution. Systemic Failure Approaches October 02 All of Uncle Sam's balloons are about to pop! Every propped up penny spent in the Financial Markets; Auto Industry; GE; Insurance Industry is gonna blow!
This government and the Wall Street Gang has used and abused the market with Voo Doo Fed Money to give us all a slight of hand view - THINGS LOOK BETTER THAN THEY REALLY ARE!
The SH*T is gonna hit the fan folks. An interesting and accurate assessment by this commenter on Seeking Alpha. A year ago I was getting flamed bigtime by everyone on SA for saying the same thing. They’re not flaming now! HERE IT COMES October 01 Today religious mania has infected the political bloodstream and America has become corrosively isolationist, he says. “Ask an American what they know about Sweden and they’d say ‘They live well but they’re all alcoholics’. In fact a Scandinavian system could have benefited us many times over.” Instead, America has “no intellectual class” and is “rotting away at a funereal pace. We’ll have a military dictatorship fairly soon, on the basis that nobody else can hold everything together. Duhmerica! Ain’t it grand! Gore Vidal: ‘We’ll have a dictatorship soon in the US’ September 25 Lowlife rat bastard scumsucking rat fuck cop! Several times YouTube censored my comments to that effect. Well fuck them too! They hate us for our freedoms? RIGHT! What would you do if this were your daughter, sister, cousin, wife or girlfriend? I know what I’d do! Family always comes before the state. Always! As this is what Duhmerica has come to its time for Duhmerica to die! September 23 The move was taken because the government wishes to protect itself from the fragility of the US economy and the weak dollar.
The OSF, which forms part of Iran’s foreign exchange reserves, is a contingency fund set aside to cushion the economy against fluctuating international oil prices. Buh-Bye US Dollar! You have to admire Ahmadinejad’s willingness to stay in the Great Satan’s face. Tehran dumps dollar for euro September 14 The global economic crisis will continue and countries must do more to adopt financial market regulations, International Monetary Fund Managing Director Dominique Strauss-Kahn told a German magazine on Saturday. Listening to the Duhmerican’t corporate press one would think otherwise. Call me skeptical but I’ll go with the IMF Chief’s assessment before I listen to Helicopter Ben, Little Timmy Geithner, that Summers idiot or the Duhmerican’t corporate press. That’s just me, I could be wrong. Global economic crisis to continue: IMF chief - Reuters September 10 It will be interesting to see if the US follows up on tire threats or Congress follows through with earlier threats of labeling China a "currency manipulator". The irony is, via practices at the Fed and treasury, the US is the world's biggest manipulator of currencies as well as the world's biggest hypocrite about free trade, especially in regards to agricultural goods. US Fires Opening Salvo In Trade Wars With China September 09 China owns the United States --or, at least, holds a 'mortgage'. China props up the dollar just enough to ensure that its excess production can be dumped here by way of its US retail outlet --Wal-Mart! The value of the US dollar is almost entirely dependent on China. When it ceases to be advantageous for China to prop up the dollar, the dollar will collapse. Yet another good article by Len Hart. How the US Became a Vassal State of China - Existentialist Cowboy To be sure, there are other voices in Chinese officialdom that are striking a less alarmist tone. One cannot rely on the words of one Chinese official to represent policy makers in China. And Cheng never said the Chinese are nowactively diversifying away from the U.S. dollar. Nevertheless, Chinese officials have been talking along this dollar bearish line for months now and I tend to believe their words will lead to action. Buh-Bye US Dollar! 4 Signs that China is Moving Out of the Dollar – Washingtons Blog A report released Sunday says two of five working-age Californians do not have a job, underscoring the challenges in one of the toughest job markets in decades. A new study has found that the last time employment levels among this group were this low was February 1977. San Francisco Chronicle September 05 The International Monetary Fund(IMF) said on Wednesday that China has agreed to buy the first bonds issued by the agency for about 50 billion dollars. The IMF said that "the agreement offers China a safe investment instrument. It will also boost the fund's capacity to help its membership -- particularly the developing and emerging market countries -- weather the global financial crisis, and facilitate an early recovery of the global economy." China buying a significant amount of SDRs and soon other BRIC nations will follow suit. Japan’s new PM is on record for a substantial reduction of USD holdings. Buh-bye USD! China agrees to buy 50-billion-dollar IMF bonds September 03 Is a horrendous crash of the $tock market pending? Does the sun rise in the east? Allow me to quote Ann Pettfor, an exceptionally prescient British economist (and fellow) with the New Economics Foundation.There is... "a vast debt that has not been cleared off the banks’ balance sheets. Many of the banks are still insolvent and this has not been addressed.” Part of the vast debt Ms. Pettifor talking about is (according to Gold$tein & Co. in the Caymans) is a toxic 1.25 QUADRILLION derivative time bomb that's been kept off the books. Old Coyote Knose that Rome is burning! The U.$. dollar is dead meat; Wall $treet is a corrupt casino... and ewe folks (especially Ma an' Pa with 401ks) are in a $ucker's market. President Obama (and Jeeezass!) cannot fix the $ins of his predecessors. And this includes IRAQ-NAM, AFGHANISTAN-NAM. and PAK-A-NUK-NAM. The jig is up folks! Capitalist/fascist Amerika is complete-lie and totall-lie bankrupt. Broke! Kaput! Der goose ist cooked! The great comment above was made to an even greater article by Carl Denninger. A must read! Is A Crash Impending? - SeekingAlpha
|
|
|
|
Tools 
Send a private message
Subscribe to RSS feed
Tell a friend
Add to My MSN
Add to your network
Sign up for alerts
