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Everything posted by Charlie Echo
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Jobless rate tumbles to near four-year low
Charlie Echo replied to yota691's topic in Off Topic posts
$4 gas: Get used to it A new U.N. report says the massive bets placed on the commodities markets are the "root cause" of the volatility in oil and gas prices. And that's not about to change. By Leah McGrath Goodman FORTUNE -- President Obama may have a lot more to worry about than bombing the debate this week. Traders are starting to get particularly bullish over gasoline prices – and that is bad news for the average driver, who may also be looking to vent his spleen at the voting booth. Reports of gas shortages along the high-demand west and east coasts may be fleeting – although deeply concerning – but they highlight a problem that's expected to persist in the U.S.: our refineries are getting old. Given that a new refinery has not been built since 1976, commodities desks on Wall Street are bracing for more refinery outages and fires just as the nation needs to gear up for the busy winter heating season. MORE: Fact check: Obama isn't killing small banks What does that mean? Probably more weeks where we'll see U.S. crude oil inventories hovering above the upper limit of the average range for this time of year, yet gasoline inventories tunneling into the lower half of their average range, as the U.S. Energy Information Administration reported Wednesday. Translated in dollars and cents, retail gas prices likely won't be moving off the $4 needle anytime soon. In fact, some gasoline buyers think this may even usher in a run to $5 a gallon (especially out west where gas stations are shutting down because they cannot buy gas at price levels low enough to turn a profit). The firmness in gasoline also is giving oil prices a boost, the knock-on effects of which cannot be understated. Oil price spikes and consumer prices have been "highly correlated" over the past decade, according to the EIA, the nonpartisan statistics branch of the U.S. Department of Energy. The upshot? Americans are increasingly grappling with unchanged paychecks in the face of higher energy prices. Their money is buying them less, the EIA says, citing the Bureau of Labor Statistics' Chained Consumer Price Index. MORE: Mitt Romney keeps Solyndra canard alive Meanwhile, the U.N. recently released a report stating definitively that the "financialization" of commodities markets – or "hundreds of billions of dollars of bets placed on expectations of temporarily rising prices" for energy, food and metals products – is the "root cause" of the today's price volatility. A key highlight of the U.N. report touched on how global oil prices this past summer were 65% higher than the averages reached during the commodity price boom of 2003 to 2008 (the period of the latest Iraq war to the Bush-era high near $150 a barrel). "Investors treat commodities as an asset class, which means that they are betting on a certain price trend during the period they are invested in commodity assets," the U.N. said. "They do not trade systematically on the basis of fundamental supply and demand relationships in single markets, even if shocks in those markets may influence their behavior temporarily." Of course, when supply shocks do happen to dovetail with bullish bets – as is happening now – that's when oil and gas prices really take off. Perhaps it's no coincidence that the first presidential debate was sponsored by ExxonMobil (XOM). http://finance.fortune.cnn.com/2012/10/05/4-gas-get-used-to-it/?hpt=hp_t3 -
Jobless rate tumbles to near four-year low
Charlie Echo replied to yota691's topic in Off Topic posts
JACK WELCH: Obama Is Manipulating The Jobs Numbers Because His Debate Performance Was Awful Read more: http://www.businessinsider.com/jack-welch-obama-jobs-report-numbers-romney-2012-10#ixzz28QijM04z Unemployment Rate Plummets to 4.3%--For Government Workers ]CNSNews.com) - The best news anywhere in the U.S. economy over the past three months has been in the government sector, where unemployment has dropped dramatically from 5.7 percent in July to 5.1 percent in August to 4.3 percent in September, according to the Bureau of Labor Statistics. Both the federal and state governments increased their number of employees from August to September. -
Regardless of your thoughts of "lies" on Fox or the constant distortion of facts coming from LSMBC, ABC, CBS, New York Times, LA Times (All owned by George Soros, btw who is a Communist/atheist Billionaire-control freak). if we re-elect the current administration, we will be overlooking some of the most obvious fundamental principles of our country. 1. Liberty - Do you enjoy your freedoms in our country? Do you want to preserve this Liberty? The more bureaucrats and politicians involved in our lives limits our Liberties! When you can see a Dr., what type of medicine you can take, how much it will cost - all these diminish our Liberties by too much Gov't intervention. 2. When people work hard and earn a living for themself and their family, whether they are millionaires or just getting started in life, graduating from school and saving some money to get a step ahead, we normal Americans believe these people should be praised for their efforts, not ridiculed and attacked for their achievements. We Normal Americans want to promote success, innovation, and production - i.e. good citizenship. We want to preserve that, rather than expand the food stamp program, unemployment and welfare role that is being pushed by the current administration so they (our gov't) can have control over our lives. 3 We believe in a document called the Constitution of the United States of America. We believe in this document because it protects us from authoritarism, and totalitarism. We don't want a president, supreme court or congress passing a law, issuing an executive order or spitting out an opinion that denies us of our God given inalienable rights provided by the Constitution. We believe that people that are smart enough to choose their leaders are wise enough to choose what type of toilet we can use, the type of light bulb we use to light our homes, choose the type of toaster we want, the type of car we drive, weather it gets 8mpg or 60mpg, has 2 wheels or 18 wheels, why should the EPA be so involved in our lives that Statism / tyranny becomes a problem. 4. We believe a free people will produce more wealth which will be redistributed through voluntary transactions, contracts even charity rather than being told how and it works better in our society than any other society on the face of the planet. We know this from past, present experience. Now, what the current Administration offers us is almost 20% unemployment on a monthly basis, homes that are devalued and continue to decline starting with Jimmy Carter and Clinton who started the community reinvestment act. A dollar that is becoming worthless overseas because of enormous uncontrolled spending and a Federal reserve that continues to print more and more money which further devalues the currency (supply and demand principal). Massive red tape that continues to smother our economy and the lack of desire to produce anything because of the uncertainity of our future. And most of all what the current administration offers us is TYRANNY. Now, that has no comparison to a misunderstood "lie" you say is a problem in the US. Wake up , Grow up, educate yourself and stop trying to find some small issue to divert attention from the real problems that are troubling our country before we don't have a Republic anymore !! This is it people, this vote will determine the future of our country and our sovereignty in the world.
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INDIA AND THE DOLLAR September 6th, 2012 By Joseph P. Farrell I’ve noted in recent blogs that there is a quiet move afoot away from the dollar as a reserve currency. Already China and Russia have concluded bilateral talks to avoid the dollar as a reserve currency and make their currencies directly convertible. Japan and China recently concluded a similar agreement. Now, India has joined the ranks of the burgeoning Asian economies to do so: India Joins Asian Dollar Exclusion Zone, Will Transact With Iran In Rupees [LunaticOutPost - Forum] India Joins Asian Dollar Exclusion Zone, Will Transact With Iran In Rupees The central importance here is the following paragraph: To summarize: Japan, China, Russia, India and Iran: the countries which together account for the bulk of the world’s productivity and combined are among the biggest explorers and producers of energy. And now they all have partial bilateral arrangements, and all of which will very likely expand their bilateral arrangements to multilateral, courtesy of Obama’s foreign relations stance which by pushing the countries into a corner has forced them to find alternative, USD-exclusive, arrangements. The geopolitical consequences, in other words, are that the West’s bellicosity toward Iran (and the Middle East as a whole) are increasingly being met by two things: (1) the Asian powers dumping the dollar as a reserve currency and entering into bilateral currency and trade agreements and (2) a greater geopolitical cohesion among those nations. In short, India, China, Japan, and Russia are simply not afraid of the ability of the US and European militaries and their ability to prop up the dollar. So what does this portend? if current western policies continue on the course that they are embarked upon, we will see more and more countries in Asia – Malaysia, Thailand, Indonesia and so on, with the probable exception of Australia and New Zealand – joining in similar arrangements as the West works feverishly to keep the remaining Islamic crescent subdued, divided, and in thrall to backward Islamicist regimes. With the recent US assurances to Australia, we can expect the Asian bloc to harden. …and remember, all those fake bearer bond stories have one thing in common: they’re all coming out of Asia. http://abousa.net/news/ G-20 Demands German Gold To Keep Eurozone Intact; German Central Bank Tells G-20 Where To Stick It September 6th, 2012 Going back to the annals of brokeback Europe, we learn that gold after all is money, after the G-20 demanded that EFSF (of €1 trillion “stability fund” yet can’t raise €3 billion fame) be backstopped by none other than German gold. Per Reuters, “The Frankfurter Allgemeine Sonntagszeitung (FAS) reported that Bundesbank reserves — including foreign currency and gold — would be used to increase Germany’s contribution to the crisis fund, the European Financial Stability Facility (EFSF) by more than 15 billion euros ($20 billion).” And who would be the recipient of said transfer? Why none other than the most insolvent of global hedge funds, the European Central Bank. Also, in addition to gold, the ECB had set its eyes on that other “fake” currency that DSK had succeded in protecting throughout his tenure, all his other undoings aside, “The Welt am Sonntag newspaper, citing similar plans, said 15 billion euros would come from special drawing rights (SDR) that the Bundesbank holds.” Naturally, these discoveries prompted a prompt and furious rebuttal from the very top of German authorities: “Germany’s gold and foreign exchange reserves, which the Bundesbank administers, were not at any point up for discussion at the G20 summit in Cannes,” government spokesman Steffen Seibert said. The WSJ adds, “A plan to have the International Monetary Fund issue its special currency as a powerful weapon in Europe’s efforts to contain the widening euro-zone debt crisis was blocked by German Chancellor Angela Merkel, according to a report in a German newspaper.” There are three observations to be made here: i) when it comes to rescuing insolvent countries, Germany is delighted to sacrifice euros at the altar of the 50-some year old PIIGS retirement age; ask for its gold however, and things get ugly; ii) the Eurozone, the ECB and the EFSF are dead broke, insolvent and/or have zero credibility in the capital markets, and they know it and iii) due to the joint and several nature of the ECB’s capital calls, while Germany may have had enough leverage to tell G-20 to shove it, the next countries in line, especially those which are already insolvent and will rely on the EFSF for their existence once the ECB’s SMP program is finished, may not be that lucky, and in exchange for remaining in the eurozone, the forfeit could well be their gold. WSJ brings details on how German SDRs would be used as a temporary (temporary as in European financial short selling ban, and temporary reduction of initial margin to maintenance for everyone to appease MF Global clients) backstop for Europe: The idea of using SDRs to fight financial contagion isn’t new. When the collapse of Lehman Brothers in 2008 unleashed a financial crisis, the G-20 in 2009 approved a $250 billion SDR allocation to help backstop efforts to fight the spread of the crisis. The European Central Bank has been buying euro-zone bonds in an effort to keep borrowing costs of weakened members from exploding. But the ECB’s efforts are considered by some experts to be outside of its central mandate to maintain price stability. And the ECB has said that its special measures – buying euro-zone debt — should be temporary and limited in scope. That is another reason why some people are advocating the IMF play a greater role in propping up weakened euro-zone members and become the lender of last resort. Speaking to reporters at the close of the Cannes summit, Merkel indicated that G-20 leaders agreed in principle that the IMF and EFSF could work together, but the summit could not agree on any specifics. “We have an interesting process ahead of us and the discussion is not yet concluded,” she said. Reuters brings more on the the logical German reaction to the EFSF and ECB’s extortion attempts: “We know this plan and we reject it,” a Bundesbank spokesman said. Seibert said several partners had raised the question in Cannes whether SDRs could be used to strengthen the EFSF but Germany had rejected this plan and discussions at Monday’s Eurogroup on Monday would not discuss this topic. The newspapers had said the issue was taken off the agenda at the G20 following Bundesbank opposition but that it would be debated on Monday at a Eurogroup meeting of euro zone finance ministers. Why will it be debated? Because when at first you don’t succeed, try, try again. Germany may be crossed off the list, but here is who is next in order of appearance. Sooner or later, Europe will stumble on that one “leader” whose gold is less valuable than their political stability, because after all, a “united”, “EMUed” Europe has the biggest MAD trump card of all.
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A House panel is calling on the U.S. Department of Labor to turn over all records involving a half-million dollar contract funded through President Obama’s $831 billion stimulus program that paid for more than 100 commercials on MSNBC touting a “green jobs” initiative. The contract with McNeely Pigott & Fox Public Relations LLC in 2009 resulted in more than 100 commercials on cable shows hosted by Rachel Maddow and Keith Olberman to raise awareness about the Job Corps program’s training in environmentally-friendly career areas. But spending reports showed that no jobs were created through the contract. The Washington Times first reported on the contract earlier this month, quoting one taxpayer watchdog who questioned not only the lack of jobs but why the commercials aired only on MSNBC, considered the most liberal of the major cable news outlets. Republican leaders on the House Committee on Education and the Workforce, which oversees the Labor Department, are raising similar questions in a recent letter they sent to Labor Secretary Hilda Solis. The letter, signed by Reps. John Kline of Minnesota, chairman of the committee, and Phil Roe of Tennessee, who chairs the panel’s subcommittee on health, employment, labor and pension issues, seeks all documents and communications concerning the public relations contract, as well as a list of dates, attendees and topics for any meetings between Labor officials and the public relations firm concerning the “public relations strategy.” “We understand this contract used taxpayer dollars purchase advertisements on MSNBC during ‘Countdown with Keith Olbermann’ and ‘The Rachel Maddow Show,’” the lawmakers wrote. “Despite the fact that these funds were made available as part of the American Recovery and Reinvestment Act — legislation President Obama said was critical for immediate job creation — an examination of public records show that the contract that resulted in the advertisements on MSNBC created no jobs.” A spokesman for the Labor Department, Stephen Barr, said officials have received the committee’s letter and will be responding. In an earlier statement to The Times, Labor Department officials said there was nothing political about the placement of the ads. They said research showed the advertisements would reach the target demographic of business owners and managers interested in hiring “green-trained” employees through a programming list that initially also included shows hosted by CNN’s Larry King and public television’s Jim Lehrer. Public television was eliminated because advertising rates were too high, officials said, and Mr. King’s show was dropped because MSNBC, since renamed NBCNews.com, held the potential to reach more viewers. The use of tax dollars on media and advertising services also came under scrutiny from Democratic lawmakers during the George W. Bush administration. In 2006, a Government Accountability Office (GAO) study requested by Democrats found more than $1.6 billion in public relations and media spending by the Bush administration during a two-year span. Read more: House panel probing stimulus cash for MSNBC ads - Washington Times http://www.washingtontimes.com/news/2012/aug/31/house-panel-probing-stimulus-cash-msnbc-ads/#ixzz25N9dQhzP Follow us: @washtimes on Twitter
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Alfred Lambremont Webre, JD, MEd is a futurist and author of Exopolitics: Politics, Government and Law in the Universe that founded the field of Exopolitics -- the science of relations among intelligent civilizations in the multi-verse. Exopolitics includes a case study of human contact with an advanced civilization on Mars. I've read a lot of different articles, but this is about as far out as it gets!!! Has anyone ever heard of this radio show or this conspiracy... it is entertaining and thought provoking... # of people that have listened is on 13,970... it is 2hrs and 40minutes...
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BOOK WARNS OF END Fri Oct 14 2011 07:00:25 ET **Exclusive** "As the faith that gave birth to the West is dying in the West, peoples of European descent from the steppes of Russia to the coast of California have begun to die out, as the Third World treks north to claim the estate. The last decade provided corroborating if not conclusive proof that we are in the Indian Summer of our civilization." So begins Pat Buchanan in his hardcore work, SUICIDE OF A SUPERPOWER. "Will America Survive to 2025?" Buchanan, set for maximum controversy, launches all rockets at introduction "Disintegrating Nation" -- and does not let up for 400-plus pages. "America is disintegrating. The centrifugal forces pulling us apart are growing inexorably. What unites us is dissolving. And this is true of Western Civilization....Meanwhile, the state is failing in its most fundamental duties. It is no longer able to defend our borders, balance our budgets, or win our wars." The books reads as if its been written to be left behind in the ruins, only to be found by a future civilization. SUICIDE ranked #2,668 on AMAZON's hit parade early Friday. It streets on Tuesday. Now only the DRUDGE REPORT can offer a look inside. Chapter 1: The Passing of a Superpower “We have accepted today the existence in perpetuity of a permanent underclass of scores of millions who cannot cope and must be carried by society -- fed, clothed, housed, tutored, medicated at taxpayer’s expense their entire lives. We have a dependent nation the size of Spain in our independent America. We have a new division in our country, those who pay a double or triple fare, and those who ride forever free.” Chapter 2. The End of Christian America If [Christopher] Dawson is correct, the drive to de-Christianize America, to purge Christianity from the public square, public schools and public life, will prove culturally and socially suicidal for the nation. “The last consequence of a dying Christianity is a dying people. Not one post-Christian nation has a birth rate sufficient to keep it alive....The death of European Christianity means the disappearance of the European tribe, a prospect visible in the demographic statistics of every Western nation.” Chapter 3. The Crisis of Catholicism “Half a century on, the disaster is manifest. The robust and confident Church of 1958 no longer exists. Catholic colleges and universities remain Catholic in name only. Parochial schools and high schools are closing as rapidly as they opened in the 1950s. The numbers of nuns, priests and seminarians have fallen dramatically. Mass attendance is a third of what it was. From the former Speaker of the House to the Vice President, Catholic politicians openly support abortion on demand.” “How can Notre Dame credibly teach that all innocent life is sacred, and then honor a president committed to ensuring that a woman’s right to end the life of her innocent child remains sacrosanct?” Chapter 4. The End of White America “[W]hite America is an endangered species. By 2020, whites over 65 will out-number those 17 and under. Deaths will exceed births. The white population will begin to shrink and, should present birth rates persist, slowly disappear.” “Mexico is moving north. Ethnically, linguistically and culturally, the verdict of 1848 is being over-turned. Will this Mexican nation within a nation advance the goals of the Constitution -- to “insure domestic tranquility” and ‘make us a more perfect union’? Or have we imperiled our union?” (Page 134) Chapter 5. Demographic Winter “Peoples of European descent are not only in a relative but a real decline. They are aging, dying, disappearing. This is the existential crisis of the West.” (Page 166) “Not any Iranian weapon of mass destruction but demography is the existential crisis Israel faces....By mid-century...Palestinians west of the Jordan river will out-number Jews 2-1. Add Palestinians in Jordan, it is 3-1.” “In a startling development of history, Russia’s population has fallen from 148 million in 1991 to 140 million today and is projected to plunge to 116 million by 2050, a loss of 32 million Russians in six decades.” Chapter 6. Equality Vs. Freedom “Those who would change society begin by changing the meaning of words. At Howard University, LBJ changed the meaning of equality from the attainable -- an end to segregation and a legislated equality of rights for African-Americans -- to the impossible: a socialist utopia.” “Where equality is enthroned, freedom is extinguished. The rise of the egalitarian society means the death of the free society.” “A time for truth. As most kids do not have the athletic ability to play high school sports, or the musical ability to play in the band, or the verbal ability to excel in debate, not every child has the academic ability to do high school work. No two children are created equal, not even identical twins. The family is the incubator of inequality and God its author.” Chapter 7. The Diversity Cult “The non-Europeanization of America is heartening news of an almost transcendental quality,” Wattenberg trilled.4 Yet, one wonders: What kind of man looks with transcendental joy to a day when the people among whom he was raised have become a minority in a nation where the majority rules?” “Historians will look back in stupor at 20th and 21st century Americans who believed the magnificent republic they inherited would be enriched by bringing in scores of millions from the failed states of the Third World.” Chapter 8: The Triumph Of Tribalism America’s war of revenge against Japan was a race war. Newsreels, movies, magazines, comic books, headlines treated “****” as a repulsive race whose extermination would benefit mankind....Only well after the war was over was it re-branded a war to bring the blessings of democracy to...Japan. We may deny the existence of ethnonationalism, detest it, condemn it. But this creator and destroyer of empires and nations is a force infinitely more powerful than globalism, for it engages the heart. Men will die for it. Religion, race, culture and tribe are the four horsemen of the coming apocalypse. Chapter 9. ‘The White Party’ “Through its support of mass immigration, its paralysis in power to prevent 12-20 million illegal aliens from entering and staying, its failure to address the “anchor-baby” issue, the Republican Party has birthed a new electorate that will send it the way of the Whigs.” Chapter 10: The Long Retreat “We borrow from Europe to defend Europe. We borrow from the Gulf states to defend the Gulf states. We borrow from Japan to defend Japan. Is it not a symptom of senility to be borrowing from the world so we can defend the world?” “Are vital U.S. interests more imperiled by what happens in Iraq where were have 50,000 troops, or Afghanistan where we have 100,000, or South Korea where we have 28,000 -- or by what is happening on our border with Mexico?...What does it profit America if we save Anbar and lose Arizona?” Chapter 11: The Last Chance “We are trying to create a nation that has never before existed, of all the races, tribes, cultures and creeds of Earth, where all are equal. In this utopian drive for the perfect society of our dreams we are killing the real country we inherited -- the best and greatest country on earth.” Developing... http://www.drudgereport.com/flashpb.htm
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http://www.infowars.com/startling-evidence-that-central-banks-and-wall-street-insiders-are-rapidly-preparing-for-something-big/ Truth is out there, but sometime the powers that are controlling our society try to block our efforts to provide the truth. The link I posted earlier was taken down, but I found another link to the post. Our PETRODOLLARS for the US are being taken down and the World will no longer accept the fact they have to buy oil with US Dollars. Within the next 4 to 8 months these issues will be resolved and there is nothing we can do about it. The IQD may not make the cut and we may all lose what has been invested. I said it before and I'll say it again, I hope the RV for IQD happens, but I don't think it will survive the crash of the economic system we have built on Petrodollars and the War in Iraq along with the current build up of ships for Iran indicate we are fighting for our survival as an economic controlling country. Unfortunately, our time as the country in control seems to be over and our lives will no longer be the same when the inevitable occurs. Sounds ominous but the game is over and we are going to lose in this game of fiat currency. Too much information out there pointing to the end game. All our hopes, dreams of a better time will be in question. There will be such a squeze play on the dollar when Iran, Russia, China, Japan, Brazil complete the deals they have for buying oil with their own currencies we will be lucky if we can buy gasoline for $9.00 a gallon. Hope I'm wrong, but they have hid this from us for decades and now the truth. http://moneymorning.com/ob/jim-rogers-issues-dramatic-warning/
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If you want to figure out what is going to happen next in the financial markets, carefully watch what the insiders are doing. Those that are “connected” have access to far better sources of information than the rest of us have, and if they hear that something big is coming up they will often make very significant moves with their money in anticipation of what is about to happen. Right now, Wall Street insiders and central banks all around the globe are making some very unusual moves. In fact, they appear to be rapidly preparing for something really big. So exactly what are they up to? In a previous article entitled “Are The Government And The Big Banks Quietly Preparing For An Imminent Financial Collapse?“, I speculated that they may be preparing for a financial meltdown of some sort. As I noted in that article, more than 600 banking executives have resigned from their positions over the past 12 months, and I have been personally told that a substantial number of Wall Street bankers have been shopping for “prepper properties” this summer. But now even more evidence has emerged that quiet preparations are being made for an imminent financial collapse. That doesn’t guarantee that something will happen or won’t happen. Like any good detective, we are gathering clues and trying to figure out what the evidence is telling us. Why Is George Soros Selling So Much Stock And Buying So Much Gold? I am certainly not a fan of George Soros. He has funneled millions upon millions of dollars into organizations that are trying to take America in the exact wrong direction. However, I do recognize that he is extremely well connected in the financial world. Soros is almost always ahead of the curve on financial matters, and if something big is going to go down George Soros is probably going to know about it ahead of time. That is why it is very alarming that he has dumped all of his banking stocks and that he is massively hoarding gold. The following is from shtfplan.com…. In a harbinger of what may be coming our way in the Fall of 2012, billionaire financier George Soros has sold all of his equity positions in major financial stocks according to a 13-F report filedwith the SEC for the quarter ending June 30, 2012. Soros, who manages funds through various accounts in the US and the Cayman Islands, has reportedly unloaded over one million shares of stock in financial companies and banks that include Citigroup (420,000 shares), JP Morgan (701,400 shares) and Goldman Sachs (120,000 shares). The total value of the stock sales amounts to nearly $50 million. What’s equally as interesting as his sale of major financials is where Soros has shifted his money. At the same time he was selling bank stocks, he was acquiring some 884,000 shares (approx. $130 million) of Gold via the SPDR Gold Trust. Why would you dump over a million shares of stock in major banks and purchase more than 100 million dollars worth of gold? Well, it would make perfect sense if you believed that a collapse of the financial system was about to happen. Earlier this year, George Soros told the following to Newsweek…. “I am not here to cheer you up. The situation is about as serious and difficult as I’ve experienced in my career,” Soros tells Newsweek. “We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse. The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.” It looks like he is putting his money where his mouth is. Perhaps even more disturbing is what he believes is coming after the financial collapse…. As anger rises, riots on the streets of American cities are inevitable. “Yes, yes, yes,” he says, almost gleefully. The response to the unrest could be more damaging than the violence itself. “It will be an excuse for cracking down and using strong-arm tactics to maintain law and order, which, carried to an extreme, could bring about a repressive political system, a society where individual liberty is much more constrained, which would be a break with the tradition of the United States.” That doesn’t sound good. George Soros has told us what he believes is going to happen, and now he is making moves with his money that indicate that he is convinced that it is actually about to start happening. But he is not the only one that has been busy accumulating gold. Billionaire John Paulson (the one that made 20 billion dollars on the subprime mortgage meltdown) has been buying gold like crazy and his company now “has 44 percent of its $24 billion fund exposed to bullion.” So why are Soros and Paulson buying up so much gold? Central Banks Are Also Hoarding Gold According to the World Gold Council, the amount of gold bought by the central banks of the world absolutely soared during the second quarter of 2012. The 157.5 metric tons of gold bought by the central banks of the world last quarter was an increase of 62.9 percent from the first quarter of 2012 and a 137.9 percent increase from the second quarter of 2011. Prior to 2009, the central banks of the world had been net sellers of gold for about two decades. But now that has totally changed, and last quarter central banks stocked up on gold in quantities that we have not seen before…. At 157.5 metric tons, gold buying among central banks came in at its highest quarterly level since the sector became a net buyer of the precious metal in the second quarter of 2009, data in the organization’s quarterly Gold Demand Trends report show. So why have the central banks of the world become such gold bugs? Is there something they aren’t telling us? Rampant Insider Selling Wall Street insiders have been dumping a whole lot of stock this year. In my previous article, I linked to a CNN article from back in April…. First quarter earnings have been decent, if not spectacular. And many corporate executives are issuing cautiously optimistic guidance for the rest of the year. But while insiders’ lips are saying one thing, their wallets are saying another. The level of insider selling among S&P 500 (SPX) companies is the highest in nearly 10 years. That is not good. A lot of insiders appear to be getting out at the top of the market while the getting is still good. Other insiders appear to be bailing out before the bottom falls out from beneath them. Just check out what has been happening to Facebook stock. It hit another new record low on Thursday as insiders dumped stock. The following is from a CNN article…. Facebook’s life as a public company has been a nightmare from day one, and the pain continued on Thursday as some company insiders got their first chance to dump shares. Facebook stock hit a new intra-day low of $19.69 Thursday morning, and ended the day 6.3% lower at $19.87. Sadly, Facebook has now lost close to half of its value since the IPO. Will Facebook end up being the poster child for the irrational stock market bubble that we have seen over the past couple of years? Overall, retail investors have been very busy pulling money out of stocks in recent weeks. My link
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Okie: The currency exchange will be posted here first
Charlie Echo replied to TonyDownTheShore's topic in Chat Logs
Lying in Islam By Abdullah Al Araby Like most religions, Islam in general, forbids lying. The Quran says, "Truly Allah guides not one who transgresses and lies." Surah 40:28. In the Hadith, Mohammed was also quoted as saying, "Be honest because honesty leads to goodness, and goodness leads to Paradise. Beware of falsehood because it leads to immorality, and immorality leads to Hell." However, unlike most religions, within Islam there are certain provisions under which lying is not simply tolerated, but actually encouraged. The book "The spirit of Islam," by the Muslim scholar, Afif A. Tabbarah was written to promote Islam. On page 247, Tabbarah stated: "Lying is not always bad, to be sure; there are times when telling a lie is more profitable and better for the general welfare, and for the settlement of conciliation among people, than telling the truth. To this effect, the Prophet says: 'He is not a false person who (through lies) settles conciliation among people, supports good or says what is good." http://www.islamreview.com/articles/lyingprint.htm Let's hope the person Okie is talking to is not Muslim... -
The global uncertainty and ailing stock markets “is more of a political problem than an economic problem. Instead of political leadership, we’re stuck with a tone-deaf orchestra playing all the wrong notes. They’re hamstringing the economy with onerous rules and regulations. They’re stifling innovation. And the sharp tax hikes and spending cuts that loom –absent any meaningful action by them – will ultimately undermine our dollar. It’s a key reason I think the dollar faces a fairly grim final quarter of 2012 (and a decidedly grim long-term future). It’s why we believe you need to get the hell out of the dollar before the end of the year. The fiscal cliff that politicians are squabbling over threatens to rekindle a recession and shove the unemployment rate even higher by Jan 1 2013. The dollar is doomed and we are running out of time. If the dollar is pegged to the IQD...0=0....
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12 Reasons to Vote Democrat .... (nothing like stupidity to show you how to vote) 1. I voted Democrat because I love the fact that I can now marry whatever I want. I’ve decided to marry my German Shepherd. 2. I voted Democrat because I believe oil companies’ profits of 4% on a gallon of gas are obscene, but the government taxing the same gallon of gas at 15% isn’t. 3. I voted Democrat because I believe the government will do a better job of spending the money I earn than I would. 4. I voted Democrat because Freedom of Speech is fine as long as nobody is offended by it. 5. I voted Democrat because I’m way too irresponsible to own a gun, and I know that my local police are all I need to protect me from murderers and thieves. 6. I voted Democrat because I believe that people who can’t tell us if it will rain on Friday can tell us that the polar ice caps will melt away in ten years if I don’t start driving a Prius. 7. I voted Democrat because I’m not concerned about millions of babies being aborted so long as we keep all death row inmates alive. 8. I voted Democrat because I think illegal aliens have a right to free health care, education, and Social Security benefits, and we should take away the social security from those who paid into it. 9. I voted Democrat because I believe that businesses should not be allowed to make profits for themselves. They need to break even and give the rest away to the government for redistribution as the Democrats see fit. 10. I voted Democrat because I believe liberal judges need to rewrite the Constitution every few days to suit some fringe kooks who would never get their agendas past the voters. 11. I voted Democrat because I think that it’s better to pay billions for their oil to people who hate us, but not drill our own because it might upset some endangered beetle, gopher or fish. 12. I voted Democrat because my head is so firmly planted up my azz, it’s unlikely that I’ll ever have another point of view.
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When the US Dollar gets stronger, it takes fewer dollars to buy any commodity that is priced in $USD. When the US Dollar gets weaker it takes more dollars to purchase the same commodity. The price of all US Dollar denominated commodities, like oil, will change to reflect the fact that it will take fewer or more dollars to buy that commodity. So it’s quite possible, in fact it’s almost always the case that a portion of the change in the price of oil is really just a reflection of a change in the value of the US Dollar. Sometimes that portion is insignificant. But often the opposite is true where the entire change in the oil price is simply a mathematical recalculation of an ever-changing US Dollar value. When the dollar gets strong, oil appears to go down, and vice versa. That accounts for part of the fluctuations that we see in the value of oil. The other part is an actual increase in the supply or demand for oil. If the price is higher when being measured not only in US Dollars, but also in Euros, Pounds Sterling, Japanese Yen, and every other major currency, then we know the oil demand is higher and it has actually increased in value. Consequently, if oil is higher in US Dollars while at the same time cheaper in every other currency, then we can conclude that the US Dollar has weakened, and that oil has actually lost value in all other currencies. But the price, because it is being quoted in $USD will be higher and give the illusion of oil becoming more valuable. In such a case the devaluation of oil, due to increased supply on the market, is camouflaged by a weakened US Dollar.
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FROM STEVE KROFT (“60 Minutes”) This article is written by Steve Kroft from “60 Minutes”. It begins to piece together the rise of Obama and his behavior in leading the nation along with many members of Congress (in particular the Democrats, such as the election of Pelosi as the minority leader in Congress). If you have wondered where Obama came from and just how he quickly moved from obscurity to President, or why the media is “selective” in what we are told, here is the man who most probably put him there and is responsible. He controls President Obama’s every move. Think this is absurd? Invest a few minutes and read this. You won’t regret it. Who is Obama? Obama is a puppet and here is the explanation of the man or demon that pulls his strings. It’s not by chance that Obama can manipulate the world. I don’t think he knows how to tie his shoe laces. After reading this and Obama’s reluctance to accept help on the oil spill you wonder if the spill is part of the plan to destroy the US? “In history, nothing happens by accident. If it happened, you can bet someone planned it.”/ Franklin Delano Roosevelt Who Is George Soros? He brought the market down in 2 days. Here is what CBS’ Mr. Steve Kroft’s research has turned up. It’s a bit of a read, and it took 4 months to put it together. “The main obstacle to a stable and just world order is the United States.” George Soros George Soros is an evil man. He’s anti-God, anti-family, anti-American, and anti-good.” He killed and robbed his own Jewish people. What we have in Soros, is a multi-billionaire atheist, with skewed moral values, and a sociopath’s lack of conscience. He considers himself to be an elitist World class philosopher, despises the American way, and just loves to do social engineering and change cultures. György Schwartz, better known to the world as George Soros, was born August 12, 1930 in Hungary. Soros’ father, Tivadar, was a fervent practitioner of the Esperanto language invented in 1887, and designed to be the first global language, free of any national identity. The Schwartz’s, who were non-practicing Jews, changed the family name to Soros, in order to facilitate assimilation into the Gentile population, as the Nazis spread into Hungary during the 1930s. When Hitler’s henchman Adolf Eichmann arrived in Hungary, to oversee the murder of that country’s Jews, George Soros ended up with a man whose job was confiscating property from the Jewish population. Soros went with him on his rounds. Soros has repeatedly called 1944 “the best year of his life.” 70% of Mr. Soros’s fellow Jews in Hungary, nearly a half-million human beings, were annihilated in that year, yet he gives no sign that this put any damper on his elation, either at the time or indeed in retrospect” During an interview with “Sixty Minute’s” Steve Kroft, Soros was asked about his “best year.” KROFT: My understanding is that you went out with this protector of yours who swore that you were his adopted godson. SOROS: Yes. Yes. KROFT: Went out, in fact, and helped in the confiscation of property from your fellow Jews, friends and neighbors. SOROS: Yes. That’s right. Yes. KROFT: I mean, that sounds like an experience that would send lots of people to the psychiatric couch for many, many, years. Was it difficult? SOROS: No, not at all. Not at all, I rather enjoyed it. KROFT: No feelings of guilt? SOROS: No, only feelings of absolute power. In his article, Muravchik describes how Soros has admitted to having carried some rather “potent messianic fantasies with me from childhood, which I felt I had to control, otherwise they might get me in trouble.” Be that as it may. After WWII, Soros attended the London School of Economics, where he fell under the thrall of fellow atheist and Hungarian, Karl Popper, one of his professors. Popper was a mentor to Soros until Popper’s death in 1994. Two of Popper’s most influential teachings concerned “the open society,” and Fallibilism. Fallibilism is the philosophical doctrine that all claims of knowledge could, in principle, be mistaken. (Then again, I could be wrong about that.) The “open society” basically refers to a “test and evaluate” approach to social engineering. Regarding “open society” Roy Childs writes, “Since the Second World War, most of the Western democracies have followed Popper’s advice about piecemeal social engineering and democratic social reform, and it has gotten them into a grand mess.” In 1956 Soros moved to New York City, where he worked on Wall Street, and started amassing his fortune. He specialized in hedge funds and currency speculation. Soros is absolutely ruthless, amoral, and clever in his business dealings, and quickly made his fortune. By the 1980s he was well on his way to becoming the global powerhouse that he is today. In an article Kyle-Anne Shiver wrote for “The American Thinker” she says, “Soros made his first billion in 1992 by shorting the British pound with leveraged billions in financial bets, and became known as the man who broke the Bank of England. He broke it on the backs of hard-working British citizens who immediately saw their homes severely devalued and their life savings cut drastically, almost overnight.” In 1994 Soros crowed in “The New Republic,” that “the former Soviet Empire is now called the Soros Empire.” The Russia-gate scandal in 1999, which almost collapsed the Russian economy, was labeled by Rep. Jim Leach, then head of the House Banking Committee, to be “one of the greatest social robberies in human history.” The “Soros Empire” indeed. In 1997 Soros almost destroyed the economies of Thailand and Malaysia. At the time, Malaysia’s Prime Minister, Mahathir Mohammad, called Soros “a = villain, and a moron.” Thai activist Weng Tojirakarn said, “We regard George Soros as a kind of Dracula. He sucks the blood from the people.” The website Greek National Pride reports, “Soros was part of the full court press that dismantled Yugoslavia and caused trouble in Georgia , Ukraine and Myanmar [burma] Calling himself a philanthropist, Soros’ role is to tighten the ideological stranglehold of globalization and the New World Order while promoting his own financial gain.. He is without conscience; a capitalist who functions with absolute amorality.” France has upheld an earlier conviction against Soros, for felony insider trading. Soros was fined 2.9 million dollars. Recently, his native Hungary fined Soros 2.2 million dollars for “illegal market manipulation.” Elizabeth Crum writes that the Hungarian economy has been in a state of transition as the country seeks to become more financially stable and westernized. Soros deliberately driving down the share price of its largest bank put Hungary’s economy into a wicked tailspin, one from which it is still trying to recover. My point here is that Soros is a planetary parasite. His grasp, greed, and gluttony have a global reach. But what about America? Soros told Australia’s national newspaper “The Australian…” “America, as the centre of the globalised financial markets, was sucking up the savings of the world. This is now over. The game is out,” he said, adding that the time has come for “a very serious adjustment” in American’s consumption habits. He implied that he was the one with the power to bring this about.” Soros: “World financial crisis was “stimulating” and “in a way, the culmination of my life’s work.” Obama has recently promised 10 billion of our tax dollars to Brazil, in order to give them a leg-up in expanding their offshore oil fields. Obama’s largesse towards Brazil came shortly after his political financial backer, George Soros, invested heavily in Brazilian oil (Petrobras). Tait Trussel writes, “The Petrobras loan may be a windfall for Soros and Brazil, but it is a bad deal for the U. S. The American Petroleum Institute estimates that oil exploration in the U S could create 160,000 new, well-paying jobs, as well as $1.7 trillion in revenues to federal, state, and local governments, all while fostering greater energy security and independence.” A blog you might want to keep an eye on is SorosWatch. com. Their mission: “This blog is dedicated to all who have suffered due to the ruthless financial pursuits of George Soros. Your stories are many and varied, but the theme is the same: the destructive power of greed without conscience. We pledge to tirelessly watch Soros wherever he goes and to print the truth in the hope that he will one day be made to stop preying upon the world’s poor, that justice will be served.” Back to America. Soros has been actively working to destroy America from the inside out for some years now. People have been warning us. Two years ago, news sources reported that “Soros [is] an extremist who wants open borders, a one-world foreign policy, legalized drugs, euthanasia, and on and on. This is off-the-chart dangerous.” In 1997 Rachel Ehrenfeld wrote, “Soros uses his philanthropy to change or more accurately deconstruct the moral values and attitudes of the Western world, and particularly of the American people. His “open society” is not about freedom; it is about license. His vision rejects the notion of ordered liberty, in favor of a PROGRESSIVE ideology of rights and entitlements.” Perhaps the most important of these “whistle blowers” are David Horowitz and Richard Poe. Their book “The Shadow Party” outlines in detail how Soros hijacked the Democratic Party, and now owns it lock, stock, and barrel. Soros has been packing the Democratic Party with radicals, and ousting moderate Democrats for years. The Shadow Party became the Shadow Government, which recently became the Obama Administration. Discover The Networks. org (another good source) writes, “By his [soros'] own admission, he helped engineer coups in Slovakia, Croatia, Georgia, and Yugoslavia. When Soros targets a country for “regime change,” he begins by creating a shadow government, a fully formed government-in-exile, ready to assume power when the opportunity arises. The Shadow Party he has built in America greatly resembles those he has created in other countries prior to instigating a coup.” November 2008 edition of the German magazine “Der Spiegel,” in which Soros gives his opinion on what the next POTUS (President of the U. S.) should do after taking office. “I think we need a large stimulus package.” Soros thought that around 600 billion would be about right. Soros also said that “I think Obama presents us a great opportunity to finally deal with global warming and energy dependence. The U. S. needs a cap and trade system with auctioning of licenses for emissions rights.” Although Soros doesn’t (yet) own the Republican Party, like he does the Democrats, make no mistake, his tentacles are spread throughout the Republican Party as well. Soros is a partner in the Carlyle Group where he has invested more than 100 million dollars. According to an article by “The Baltimore Chronicle’s” Alice Cherbonnier, the Carlyle Group is run by “a veritable who’s who of former Republican leaders,” from CIA man Frank Carlucci, to CIA head and ex-President George Bush, Sr. In late 2006, Soros bought about 2 million shares of Halliburton, **** Cheney’s old stomping grounds. When the Democrats and Republicans held their conventions in 2000, Soros held Shadow Party conventions in the same cities, at the same time. In 2008, Soros donated $5,000,000,000 (that’s Five Billion) to the Democratic National Committee, DNC, to insure Obama’s win and wins for many other Alinsky trained Radical Rules Anti-American Socialist. George has been contributing a $ billion plus to the DNC since Clinton came on the scene. Soros has dirtied both sides of the aisle, trust me. And if that weren’t bad enough, he has long held connections with the CIA. And I mustn’t forget to mention Soros’ involvement with the MSM (Main Stream Media), the entertainment industry (e. g. he owns 2.6 million shares of Time Warner), and the various political advertising organizations he funnels millions to. In short, George Soros controls or influences most of the MSM.Little wonder they ignore the TEA PARTY, Soro’s NEMESIS. As Matthew Vadum writes, “The liberal billionaire-turned-philanthropist has been buying up media properties for years in order to drive home his message to the American public that they are too materialistic, too wasteful, too selfish, and too stupid to decide for themselves how to run their own lives.” Richard Poe writes, “Soros’ private philanthropy, totaling nearly $5 billion, continues undermining America’s traditional Western values. His giving has provided funding of abortion rights, atheism, drug legalization, sex education, euthanasia, feminism, gun control, globalization, mass immigration, *** marriage and other radical experiments in social engineering.” Some of the many NGOs (Non-Government Organizations) that Soros funds with his billions are: MoveOn. org, the Apollo Alliance , Media Matters for America , the Tides Foundation, the ACLU, ACORN, PDIA (Project on Death In America ), La Raza, and many more.. For a more complete list, with brief descriptions of the NGOs, go to DiscoverTheNetworks. org. Poe continues, “Through his global web of Open Society Institutes and Open Society Foundations, Soros has spent 25 years recruiting, training, indoctrinating and installing a network of loyal operatives in 50 countries, placing them in positions of influence and power in media, government, finance and academia.” Without Soros’ money, would the Saul Alinsky’s Chicago machine still be rolling? Would SEIU, ACORN, and La Raza still be pursuing their nefarious activities? Would Big Money and lobbyists still be corrupting government? Would our college campuses still be retirement homes for 1960s radicals? America stands at the brink of an abyss, and that fact is directly attributable to Soros. Soros has vigorously, cleverly, and insidiously planned the ruination of America and his puppet, Barack Obama is leading the way. The words of Patrick Henry are apropos:” Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, almighty God! I know not what course others may take, but as for me, give me liberty, or give me death!” ————– Above information researched by CBS Steve Kroft “The democracy will cease to exist when you take away from those who are willing to work and give to those who would not.” Thomas Jefferson
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He is a plant also..... While America Sleepshttp://wwwabousa.net
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WASHINGTON (AP) - The United States is planning a significant military presence of 13,500 troops in Kuwait to give it the flexibility to respond to sudden conflicts in the region as Iraq adjusts to the withdrawal of American combat forces and the world nervously eyes Iran, according to a congressional report. The study by the Senate Foreign Relations Committee examined the U.S. relationship with the six nations of the Gulf Cooperation Council - Saudi Arabia, Kuwait, Bahrain, Qatar, the United Arab Emirates and Oman - against a fast-moving backdrop. In just the last two days, Saudi Arabia's ruler named Defense Minister Prince Salman bin Abdul-Aziz as the country's new crown prince after last week's death of Prince Nayef, and Kuwait's government suspended parliament for a month over an internal political feud. The latest developments inject even more uncertainty as the Middle East deals with the demands of the Arab Spring, the end to U.S. combat operations in Iraq at the end of 2011 and fears of Iran's nuclear program. "Home to more than half of the world's oil reserves and over a third of its natural gas, the stability of the Persian Gulf is critical to the global economy," the report said. "However, the region faces a myriad of political and security challenges, from the Iranian nuclear program to the threat of terrorism to the political crisis in Bahrain." The report obtained by The Associated Press in advance of Tuesday's release provided precise numbers on U.S. forces in Kuwait, a presence that Pentagon officials have only acknowledged on condition of anonymity. Currently, there are about 15,000 U.S. forces in Kuwait at Camp Arifjan, Ali Al Salem Air Base and Camp Buehring, giving the United States staging hubs, training ranges and locations to provide logistical support. The report said the number of troops is likely to drop to 13,500. Several members of Congress, most notably Sens. John McCain, R-Ariz., and Lindsey Graham, R-S.C., had pressed for a residual U.S. force to remain in Iraq, but the failure of the two countries to agree on whether American troops should be granted legal immunity scuttled that idea. Instead, officials talked of positioning a strong U.S. force just across the border in Kuwait. The strategy preserves "lily pad" basing that allows the military to move quickly from one location to the next. As it recalibrates its national security strategy, the United States is drawing down forces in Europe while focusing on other regions, such as the Middle East and Asia. Defense Secretary Leon Panetta has said he envisions about 40,000 troops stationed in the Middle East region after the withdrawal from Iraq. By comparison, a cut of two Army combat brigades and the withdrawal of two other smaller units will leave about 68,000 troops in Europe. During the 1991 Persian Gulf War, some half a million U.S. forces were in the Middle East region. The United States maintained about 5,000 troops in Kuwait from the end of the Gulf War to March 2003, when U.S. and coalition forces invaded Iraq to topple the regime of Saddam Hussein. The U.S.-led invasion was in response to reports, later discredited, that Iraq was developing weapons of mass destruction. Senate Foreign Relations Committee Chairman John Kerry, D-Mass., who asked his staff to conduct the study, said in a statement: "This is a period of historic, but turbulent change in the Middle East. We need to be clear-eyed about what these interests are and how best to promote them. This report provides a thoughtful set of recommendations designed to do exactly that." The 37-page report raises questions about how the United States can leverage its financial aid to force change in the Middle East. Late last year, two Democrats - Sen. Ron Wyden of Oregon and Rep. Jim McGovern of Massachusetts - opposed the U.S. sale of spare parts and equipment to Bahrain, arguing that the ruling Sunni monarchy was violating human rights and using excessive force to crack down on protests. The State Department went ahead earlier this year with the sale of some military equipment, saying it was for Bahrain's external defense and support for the U.S. Navy's 5th Fleet, which is based in the country. Bahrain stands as a strategic ally to counter Iran. Read More... http://apnews.myway.com/article/20120619/D9VG2L6G0.html
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The unthinkable suddenly looks possible. Bankers, governments and investors are preparing for Greece to stop using the euro as its currency, a move that could spread turmoil throughout the global financial system. The worst case envisions governments defaulting on their debts, a run on European banks and a worldwide credit crunch reminiscent of the financial crisis in the fall of 2008. http://abousa.net/news/
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At least Romney doesn't have a Socialist, Marxist background.....
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May 3, 2012 On May Day in 1971, the US Army rounded up approximately 7,000 protesters into a stadium in Washington, DC that they treated like a make-shift prison camp. Have things changed in the past 40 years? Now a Department of Defense document has been leaked to the Web that details “Internment and Resettlement Operations.” The manual outlines policies for processing detainees in internment camps domestically and abroad and how to “re-educate” unruly activists. Alex Jones, host of the Alex Jones Show, joins us to find out what this means to people across the globe. http://www.infowars.com/alex-jones-pentagon-prepares-re-education-camps-for-political-activists/ Setup for unrest in the US and around the world. Impossible to pay debt and setup of our society to fail. Total Re-Education in America!!
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World View: Problems in Greece, Italy and Spain Revive the Euro Debt Crisis http://www.breitbart.com/Big-Peace/2012/03/30/world-view-march-30-2012 Wonder how the Mid-East is going to deal with all the "BrotherHOOD" controlled areas and how they will influence IRAQ, especially since attacks have renewed in country... Does Obama control the timing of this issue given his narcissistic attitude???... Good Luck with this happening this year under these circumstances...
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Vic1 chat posted at OOM forum by Dclawson Sat evening - 03/10/2012
Charlie Echo replied to ronscarpa's topic in Chat Logs
My linkThe problem we are having now is the decline of the US Dollar. China now sells gold through banks and retail stores in country. The China Govt is encouraging it's people to buy gold. When enough gold is out there as they continue to buy world reserves, their Chinese Yuan will be strong and actually backed by something, gold. Confidence will grow in the Yuan and more "treasuries" will be bought through China than the US. Our dollar will fall as the world reserve currency as China takes on the role of world leader in finance. Our biggest problem at this time is the push the current policies have toward making us a socialist country. If we continue down this road, we citizens will be dependent on the desires of our Gov't . Your independence will be taken from you. God knows I love my Country and want only the best for the people. We will need a strict economic lesson to curtail our current path. -
http://www.google.com/url?sa=t&rct=j&q=larry%20sinclair%20and%20obama&source=web&cd=4&sqi=2&ved=0CEQQFjAD&url=http%3A%2F%2Fwww.wnd.com%2F%3FpageId%3D56626&ei=BdDwTsufPIGdgQfIlvmwAg&usg=AFQjCNGwQrGWJ9jX27zEN7jhmxpap25bYg Maybe this is why he is always going in separate planes on vacation. Who could really be married to "MaChelle" - the children are a front. Lie, Cheat, Steal is the Saul Alinsky moto!!! http://www.google.com/url?sa=t&rct=j&q=saul%20alinsky&source=web&cd=2&sqi=2&ved=0CD0QFjAB&url=http%3A%2F%2Fwww.crossroad.to%2FQuotes%2Fcommunism%2Falinsky.htm&ei=5dDwTq-ZDOnKsQKrtummAQ&usg=AFQjCNHvW6KZmes8pPoTNecdpDfi4z9npg
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The Syrian currency is at its weakest level since the beginning of political unrest, dropping 30 percent against the US dollar. Further weakness is expected amid the escalated tension as the sanctions begin to bite. The Syrian pound fell almost 20 percent against the dollar immediately after economic sanctions were imposed on the Syrian regime this week. The currency dropped from 47 Syrian pounds to 61 pounds against the US dollar. The Arab League on Sunday slapped stringent sanctions on Syria in the strongest blow yet to Al Assad’s regime. Dr. Mohammad Al Asoomi, a leading economist in the UAE, told Gulf News, “The league’s suspension of dealings with the Syrian central bank will be the most effective measure. This will cut the money lifeline that Syrian businesses have to trade with the Arab world in particular. Moreover, it will allow the migration of capital from Syria.” The League’s sanctions, which have affected transactions with Syria’s central bank, come with a threat to freeze Syrian assets in other Arab states, and Arab investments in Syria. They also imposed a travel ban on senior Syrian officials. Ordinary citizens Arab finance and economy ministers have stressed the need to avoid measures which would harm ordinary citizens. Basic commodities and cash remittances from Syrians working abroad are exempt. Qatar’s Prime Minister Shaikh Hamad Bin Jasem Bin Jabr Al Thani, who chaired the Cairo meeting, made the announcement. Bin Jasem said the decision, which takes immediate effect, was backed by 19 of the league’s 22 members. The Syrian pound lost 17.18 percent of its value against the UAE dirham. The exchange rate was 12.8 pounds to the dirham, but is now 15 pounds to the dirham. Rami, a Syrian resident in the UAE, said that the exchange rate is good. “This is of course good for the people who live outside Syria,” he said. Rami added that even though remittances are not affected by the sanctions, he is still sending more money home. “I am sending big amounts due to uncertainties back home.” Adnan Ahmad Yousuf, head of the Union of Arab Banks and President and Chief Executive of Al Baraka Banking group, said the growing political unrest has lowered demand and the currency continues to lose vlaue. Exchange shops Yesterday Syrian security forces raided several exchange shops across the country, accusing them of selling dollars at different exchange rates. The sanctions are expected to raise inflation. Another Syrian resident in the UAE, Abdul Rahman, said: “There is no advantage in the Syrian pound’s decline, because as much as the Syrian pound is dropping, living costs in Syria are getting too expensive and I have to send more money to meet my family’s needs.” The European Union halted imports of Syrian oil, which account for 90 percent of the country’s revenues, causing it to lose about $400 million (Dh1.5 billion) a month. Abdul Hameed Radwan, a leading economist in the UAE Ministry of Foreign Trade, told Gulf News that US sanctions have crippled Syria’s financial sector by prohibiting any individuals or institutions based in Syria from executing international transactions in US dollars. It is estimated that the Syrian economy will shrink by 6 percent this year, he added. He added that the decline is a reflection of investors pulling out money from the country and converting local currency into US dollars or other foreign exchange, in fear of further declines in exchange rates. Indeed, the crisis has pushed stock indexes into the red. Syrian investors have put their projects on hold. Syrians are now buying foreign currencies on a scale that threatens the country’s economy, and the demand for the Syrian pound in other Arab countries is declining fast.
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The Dollar’s Days Are Numbered... as the World’s Reserve Currency Do you know anyone who speaks “Esperanto?” If not, don’t worry. I had never heard of the language until I traveled to Brazil on a research trip in 2010. While I was traveling, I met with the heads of major companies and important government leaders in Latin America. As a currency expert, I wanted to know how these major players in Latin America feel about the U.S. dollar. Of all the business leaders I met with, Maria Ramos, head of investor relations at Brazilian oil-giant Petrobras, had the most interesting opinion... Instead of answering right away, Ms. Ramos told me a story about Esperanto. It was designed in the 19th century to serve as a universal second language. “Trying to come up with an alternative to the dollar today is like trying to impose Esperanto as an international language. It doesn’t work like that,” she said. “The same way English has evolved naturally to become the international language, the dollar has become the world’s reserve currency. The dollar is the currency everyone has access to!” Of course she’s right. At the moment, there is no alternative to replace the dollar as a world reserve currency. But there is something happening right now that could easily change that... The Biggest Threats to the Dollar’s Supremacy Empires don’t suddenly end. There are always warning signs that can sometimes last for years leading up to an empire’s collapse. When they do end, their currencies always suffer - or collapse outright. Out-of-control debt levels have historically been a major red flag. This debt can signal an empire’s end. Look at what happened with the Spanish Empire in the 17th century or the British Empire in the 20th. Excessive debt effectively crumbled both empires. Given its massive deficits, America may soon become another good example. Earlier this month, our U.S. debt hit the $15 trillion mark - or more than 101% of our GDP. That’s more than enough to count the U.S. as an empire in decline. Beyond debt, we also have many of the other classic signs of a flailing empire including an overworked military, a widening gap between our wealthy and impoverished, increasing inflation, and a government that continues to spend. And there’s a viable threat to the dollar’s supremacy in Asia. It’s the rise of the Asian market and the internationalization of China’s currency, the yuan. China is Planting the Seeds of a Powerful Reserve Currency Right now, Chinese leaders are making strides toward effectively capturing the dollar’s place as a reserve currency. In the past two years, China’s leaders allowed the yuan to trade offshore in Hong Kong. They announced opening their bond market to foreign banks. The yuan also started trading in the domestic Forex market vs. the Malaysia’s ringgit. Soon the yuan will be trading against other currencies, including the Russian ruble and the Korean won. Hong Kong's securities regulator also just approved a new fund of yuan-denominated fixed-income products, such as bonds and commercial paper. Within the last two years, McDonald’s became the first foreign non-financial company to sell yuan-denominated bonds in Hong Kong. In my opinion, it’s one of the greatest developments of our time. As other companies follow McDonald’s lead in tapping into China’s bond market, the yuan will play a significant role in global commerce. Big banks around the globe such as HSBC, BBVA, JPMorgan Chase and Citigroup are all doing road shows in Latin America to encourage the use of the yuan in trade with China. Do you see the pattern? The development of China’s currency is here to stay. What does that all mean for the U.S. dollar? One word: crisis! One important reason the U.S. dollar remains the reserve currency is the U.S. bond market. Our bond market is the most-liquid of its kind. But a well-developed Chinese capital market will provide strong support to the yuan. And the faster this process advances, the faster the dollar will lose status in the international market. I agree with Ms. Ramos that the U.S. dollar won’t lose its reserve status tomorrow. It may take five years or more. But China is planting the seeds of a powerful international currency that may become this alternative to the dollar. Without any serious fiscal reform in the U.S., the buck is looking more and more like a disaster waiting to happen. Personally, I’m not waiting. I have already diversified part of my savings into stronger foreign currencies for my family like the Chinese yuan and Brazilian real. You can buy yuan through an exchange-traded fund (NYSE: CYB). Or you can even hold yuan (aka, renminbi) in a WorldCurrency Access Deposit Account at EverBank. For transparency sake, we have an advertising relationship with EverBank and may receive fees if you choose to invest in their products. For more details on how to invest in the Chinese yuan, click here. It’s best to do diversify your currency holdings now while the dollar is still strong to get the most for your money. I’m grabbing all the foreign currency I can at a discount and I urge you to do the same. Evaldo Albuquerque, Editor, Exotic FX Alert and Currency Capitalist