CNBC News video, Jim Rickards :"Federal Reserve needs to cut US Dollar in half over next 14 years"
http://www.youtube.com/watch?v=0-ZZFmKFk1s
"Federal Reserve needs to cut US Dollar in half over next 14 years"
Jim Rickards, director of market intelligence for scientific consulting firm Omnis, shares his outlook for the dollar.
Jim cracks the code of "Fed Speak" to tell us what is really going on with the Global Banking Elite and their plans for the future.
I hear ya!
notes about topics in the video :
SDR stands for special drawing rights. They are a product of the
International Monetary Fund.
You can think of SDRs more as the "currency" of the IMF and some other
organizations. They also are given to IMF member countries in exchange
for their "quotas," their up-front payments to the IMF to finance its
operation.
Triffen's dilemma
During the 1960 and early 70s the amount of US dollar reserves held by
non-reserve central banks grew significantly, which led to what became
known as the "Triffen Dilemma." Robert Triffen was a Belgian economist
and Yale University professor who highlighted the problems related to
dollar overhang. Dollar overhang occurred when the amount of US dollar
assets held by non-reserve central banks exceeded the total supply of
gold in the US Treasury at the exchange rate of $35 per ounce. Dollar
overhang occurred in the system by 1960 and continued to worsen
throughout the decade of the 1960s. By 1971 foreign holdings of US
dollars stood at $50 billion while US gold reserves were valued at only
$15 billion.
We blame the FED but also
We blame the FED but also our Congess keeps asking for more & appropriating failed policy..
A GOOD banker & autonomous Banker would cut their fund expansion, NOW.
Good people do Good deeds
Good people make it happen
Thanks for the post...
Thanks for the post...
great interview, MUST WATCH!
great interview, MUST WATCH!
Ventura 2012
Excellent video.
Thanks for posting. They gave him plenty of time to explain, and he did explain what is happening very well.
a banker speaking freely
Doesn't we know when we hear the truth...
this is very close to it.
worth watching...
and bumping
"The Myth of an Independent Federal Reserve"
"The War Prayer - Mark Twain"
And at the same time the FDIC needs banks to pony up $36B!!
The banks are smart. They will delay payment until after the dollar is devalued!
FDIC expected to ask banks to prepay $36B in fees
FDIC likely will require banks to prepay $36 billion fees to replenish deposit insurance fund
Marcy Gordon, AP Business Writer
Tuesday September 29, 2009, 12:01 am EDT
WASHINGTON (AP) -- Looking to shore up the diminishing fund that insures bank deposits, the FDIC may take the unprecedented step of requiring banks to prepay three years' worth of premiums: about $36 billion.
The insurance fund has been sapped by billions from a rash of bank failures that began in mid-2008. The board of the Federal Deposit Insurance Corp. likely will call for "prepaid" bank insurance premiums at its public meeting Tuesday to discuss the issue, three industry executives and a government official said. The banking industry prefers that option over a special emergency fee -- which would be the second this year.
The executives and the official spoke on condition of anonymity Monday because the decision had yet to be made public.
It would be the first time the FDIC has required prepaid insurance fees. Under the plan, banks would have to pay in advance their insurance premiums for 2010-2012, bringing in about $12 billion for each of the three years, two of the executives said. That is the normal amount of insurance fees, though it could vary somewhat according to growth in total insured deposits -- the basis for determining the fees.
http://finance.yahoo.com/news/FDIC-expected-to-ask-banks-to-...