IT FINALLY HAPPENED! Dollar loses reserve status to Yen & Euro
Source: http://www.nypost.com/p/news/business/dollar_loses_reserve_s...
By PAUL THARP
Ben Bernanke's dollar crisis went into a wider mode yesterday as the greenback was shockingly upstaged by the euro and yen, both of which can lay claim to the world title as the currency favored by central banks as their reserve currency.
Over the last three months, banks put 63 percent of their new cash into euros and yen -- not the greenbacks -- a nearly complete reversal of the dollar's onetime dominance for reserves, according to Barclays Capital. The dollar's share of new cash in the central banks was down to 37 percent -- compared with two-thirds a decade ago.
Currently, dollars account for about 62 percent of the currency reserve at central banks -- the lowest on record, said the International Monetary Fund.
Bernanke could go down in economic history as the man who killed the greenback on the operating table.
After printing up trillions of new dollars and new bonds to stimulate the US economy, the Federal Reserve chief is now boxed into a corner battling two separate monsters that could devour the economy -- ravenous inflation on one hand, and a perilous recession on the other.
"He's in a crisis worse than the meltdown ever was," said Peter Schiff, president of Euro Pacific Capital. "I fear that he could be the Fed chairman who brought down the whole thing."
Source: http://www.nypost.com/p/news/business/dollar_loses_reserve_s...
The Yen?? The nation still
The Yen?? The nation still recovering from the Lost Decade? You're kidding me. Boy are we in bad shape ...
i don't understand why the
i don't understand why the mainstream media hasn't reported this yet.
i keep seeing "the worst is behind us" and "DOW has passed 10,000"...
wtf is going on?
The slogan press on has solved and always will solve the problems of the human race. No person was ever honored for what he received. Honor has been the reward for what he gave.
- Calvin Coolidge
Schiff says most of that is
Schiff says most of that is inflation. I guess we have to look at volumes in order to be sure, and I havent bothered yet. Seems to me they are trying to instill confidence in people to invest in the market again so they can drop the floor again and steal what remaining wealth there is.
Other currencies are up
You name the currency, it's up against the dollar. The euro is doing well, but the Australian dollar is just zooming. Even the Canadian dollar is close to parity. Fasten your seatbelts - this is going to be a wild ride.
the irony...
is that I dont trust the Fed. The only thing that actually gives our money value is the faith our investors have in it. Its really that simple..
http://www.youtube.com/watch?v=OO18F4aKGzQ
'Peace is a powerful message.' Ron Paul
the irony...
is also that the dow is up to 10,000
The slogan press on has solved and always will solve the problems of the human race. No person was ever honored for what he received. Honor has been the reward for what he gave.
- Calvin Coolidge
Only a matter of time -----
Only a matter of time
-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!
Get Prepared!
-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!
Get Prepared!
It Makes Me Sick
It just makes me sick to see Congress, cabinet and non-elected people destroy this country. So this is what me and my family served in the military for? It makes me sick.
Detective Krum Investigates:
http://victory1project.wordpress.com/
http://politicaltrackingnetwork.wordpress.com/
Detective Krum Investigates:
http://victory1project.wordpress.com/
bump
schiff spoke about this predicament ....months and months ago.
Bernanke would not have any room left to move.... defend the dollar and he cripples the economy
ignores the dollar to spare the economy, and we could see it all go south in a mass exodus of the dollar, as faith in our currency collapses.
Ron Paul too.
Ron Paul too.
The slogan press on has solved and always will solve the problems of the human race. No person was ever honored for what he received. Honor has been the reward for what he gave.
- Calvin Coolidge
OH HOW SOON WE FORGET.....
Silver: March 08 = 20.79/oz
Oct. 09 = 17.96/oz
U.S. Dollar: March '08 = 71.657
Oct. '09 = 76.668
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In Yâ-hwéh Yâhuwshúa`, The LORD Jesus Christ;
Dave
"where the Spirit of the LORD is, there is liberty." 2 Cor. 3:17
http://www.lionandlambministry.com
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In The LORD Jesus Christ;
Dave
"where the Spirit of the LORD is, there is liberty." 2 Cor. 3:17
http://www.lionandlambministry.com
Silver just crossed 18.00/oz
18.03 11:08pm
whoa.
whoa.
The slogan press on has solved and always will solve the problems of the human race. No person was ever honored for what he received. Honor has been the reward for what he gave.
- Calvin Coolidge
The U.S. enjoyed a privilege for many years in that they could
continue to print dollars and hand them out to the rest of the world as a reserve currency. That's coming to an end. It isn't sudden and it isn't unexpected. It certainly won't be an enjoyable experience when we eventually have to take USDs (or other assets) and then buy other more desired currencies in order to pay for foreign goods (like crude oil for instance). The USD is crumbling. A little here, a little there.
_________________________________________
"An economy built on fiat money is a society on its way to ashes."
_________________________________________
"An economy built on fiat money is a society on its way to ashes."
I listened to Lou Dobbs
I listened to Lou Dobbs Radio yesterday and some high ranking guy told him that if USA attacks Iran they will be in a world of hurt because both Russia and China have written contracts with Iran to help them if they get hurt.
THIS will be the event that will end the dollar and the world as a whole. Can you imagine USA vs Russia vs China? China have some SERIOUS bombs and not exactly weak as many think and Russia has "a couple" bombs too.
I know USA has a lot but if you mess with Iran then I think you met your match :/.
~~
Teach a man to fish and you feed him for the rest of his life.
Teach a man to phish and he'll clean out your bank account.
~~
1-2 years ago Russia
1-2 years ago Russia released a statement regarding Iran... that they would consider any attack on Iran to be an attack on Russia. I don't know if that was just a statement for a specific incident or if it was intended to be a more permanent statement of support for Iran.
China has a lot of interest in the oil pipeline that supposed to go through India & Pakistan. China wanted to get in on that as well. I'm sure they will not be too happy if we destroy the infrastructure of their future energy supplier.
...
silver looks better and
silver looks better and better....
http://investmentrarities.com/ted_butler_comentary10-13-09.s...
where is jzneff and jeff3456098 to give us their pearls of wisdom about how great the dollar is , and how its going to strengthen and you know... all the BS?
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.
I'm scared
Though I'm prepared, this is frightening
America's Youth vs. Big Government. The Book!
keep buying silver...
keep buying silver... remeber.. if this thing does crater, you can come out the other side rich...
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.
hey where's a good place to
hey where's a good place to buy silver?
The slogan press on has solved and always will solve the problems of the human race. No person was ever honored for what he received. Honor has been the reward for what he gave.
- Calvin Coolidge
apmex.com
sometimes the local dealers can get too proud of their precious metals.
go to your local coin
go to your local coin store.. by pre 64 US junk silver coins.. pay cash..
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.
thanks
thanks
The slogan press on has solved and always will solve the problems of the human race. No person was ever honored for what he received. Honor has been the reward for what he gave.
- Calvin Coolidge
Nice find, Richie!
And now for one of those moments... Does one pop open a beer and celebrate, or cry in it? lol!
Truth exists, and it deserves to be cherished.
gloating time.
i'm glad because i can tell my friends and family: I TOLD YOU SO!!!!
at the same time i'm sad we're slowly losing/lost our liberties.
The slogan press on has solved and always will solve the problems of the human race. No person was ever honored for what he received. Honor has been the reward for what he gave.
- Calvin Coolidge
wow
great find - bump*))
________________________________________
"Long live eccentricity!
It is the willingness to do things differently
that allows the human race to progress."
-- Isabel Parlett
Website:
http://www.libertypoet.com/
Twitter:
http://twitter.com/LibertyPoet
"How can we justify to the unemployed and underemployed in the United States the incredible cost of maintaining a global empire?" - Dr. Ron Paul
Bump
...
Berwick, Columbia County, Pennsylvania
Ron Paul 2012 - The People's Choice
rEVOLution SuperPAC: http://www.revolutionpac.com/
WTP Federal Lawsuit to BAN ALL ELECTRONIC VOTING
http://www.wethepeoplefoundation.org/UPDATE/Update2011-07-26...
bump!
End the Fed!
With the Post printing this news,
Bernanke & Co. won't be able to keep hiding from reality.
Thanks for the post! What a
Thanks for the post! What a great article which happens to feature Peter Schiff!