The Demise of the Dollar: October 6, 2009
Submitted by zenpiper on Mon, 10/05/2009 - 19:21
in
If what the article says is true, it appears that France, Japan, China and other nations will dump the dollar as the world currency for MidEast oil.
Most of us saw the demise of the dollar coming. Whether this will come to pass is probably just a matter of time.
http://www.independent.co.uk/news/business/news/the-demise-o...
Late Hit. In currencty markets, the dollar lost .51% against the Yen - that's very big. In fact, the dollar is down against virtually all other currencies. The euro, aussie dollar, kiwi dollar, Swiss frank, British pound, all up.
Not to late to open an Everbank account!
»
And remember what Iraq
And remember what Iraq announced not long before we invaded them. Sound familiar?
The last paragraph should
The last paragraph should not be overlooked:
"Iran announced late last month that its foreign currency reserves would henceforth be held in euros rather than dollars. Bankers remember, of course, what happened to the last Middle East oil producer to sell its oil in euros rather than dollars. A few months after Saddam Hussein trumpeted his decision, the Americans and British invaded Iraq."
Just because we can't afford any more wars doesn't mean that our government won't start any more. The trouble is that now it looks like we'll be at war with the rest of the world. So how might that play out? Is there an up-side that I'm missing?
time to unleash our middle
time to unleash our middle east enforcer....Israel!
funny how israel just tested a missle that went the exact distance needed to hit israel recently.... coincidence?
“One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.” Plato
“One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.” Plato
Well I guess
they didn't even have to launch it! LOL
""funny how israel just tested a missle that went the exact distance needed to hit israel recently.... coincidence?""
did you mean Iran?
bankster hiest
live free or die
we the people have been totally fleeced by the house of rothschild. they are licking there chops as they gleefuly watch america fall. only gold,silver.guns,ammo,firewood and a supply or source of food will save you now. good luck fellow patriots.welcome to hell.
live free or die
A prudent man foresees the
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
Well we could start selling some of our military tech
I'll bet we could find plenty of buyers, at our new Bargain basement prices.
Maybe some of those buyers would be enemies of China, Russia, Japan, France, and the Arabs.
Much less stable world, then, but we wouldn't go under.
and instead of nymex,
the trading will be done here:
http://www.energybulletin.net/node/12125
interesting read--considering it was written back in 2006--and in light of the news today. I bet by now they figured out a way to get around cut undersea internet cables.
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"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
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dead banksters
http://www.dailypaul.com/node/107337#comment-1170881
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"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
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The dollar has been dead for a very long time. Toilet Paper?
Solution to tyranny: “Be the change you want to see in the world.” Mahatma Gandhi
“Just look at us. Everything is backwards; everything is upside down. Doctors destroy health, lawyers destroy justice, universities destroy knowledge, governments destroy freedom, the major media destroy information and religions destroy spirituality”
Oh boy
Hmmm...this could get very interesting. Watch gold fly up $20 tomorrow
Already flying....
Gold $1020oz
Silver around $16.90
10pm EST
Ha
Gold $1,035.60 $1,036.60 up $18.80
9:09 ET
Robert Fisk
Is one of the best journalists writing in english, if he says it you can believe it.
MSM hates him
for he is a true and ethical journalist, reporting FACTS. He is the best in covering the Middle East.
..this is an interesting
..this is an interesting situation because the state primarily funds itself through the means of 1.) direct taxation and 2.) financing debt (selling it's debt via bonds and treasuries is how we get deficit spending).. When fewer foreign governments have the confidence that the U.S. will ever pay off that debt or they see a devaluing of the dollar via printing presses they stop buying, using, and accepting dollars in the market (ie. for oil).. Until now they've always been able to make up the budget deficit by selling more debt, but if nobodies buying at http://www.treasurydirect.gov they are going to start frothing and looking at option #1.. It's going to be a 'stimulating' few years.. No?
Option #1 would do a lot of
Option #1 would do a lot of damage to an already fragile economy in addition to putting re-election at risk for many politicians. I think the more likely "solution" will be to start running the printing presses 24/7. This way they get their tax money anyhow, it's just a hidden tax (inflation).
...
Sadly, you're probably
Sadly, you're probably right. They'll just do away with the debt mechanism..