⌛ Houston......we have a problem.............

I have been sitting here waiting for it to happen, and now I think it has. What has ? Well the decline of the $ US.

The Aussie $ is creeping up to and over .70 cents US, it was .63 cents about one week ago.

The most worrying aspect of the future of the $ US is the comments mainly reported in the US press by the Chinese government that it, the Chinese governemnt will continue to support the $ US.

You know what that means, their support will slip away. Having lived in China, one aspect foreigners have trouble understanding is that, often, yes means no, and no means yes. Also when they look at you with that kind smile, that means "I am going to screw you".

Anyway there are reports in other international press that the Chinese will push for another reserve currency changing the dollar’s status.

As for me, well I have been buying heaps of stuff here in the Ph, with the Australia $/peso exchange rate at its lowest level in "yonks", ( meaning years). Couldn't wait !

 

its time the aussie was stopped being dumped on . i think it will edge back to around 36 37 peso and stay their .whats that? around 71c in the usd .we will never see 43p again like last june . if the u.s .keep printing money the value must go down and inflation up .

 

You Touch On One Of My Biggest Concerns! Good Topic

Hello all, and SidfromSidney,neil...

You hit on the 100 million dollar question...

Newbie from Arizona, USA here.. and the dollars demise, and where this country is headed: economically, socially, politically, etc... is the reason I hope to live in the P.I. someday.

Due to the propaganda ministry... errr, I mean Mainstream News Media's CONSTANT hammering on a "need" for a global currency; I am predicting the dollars demise. The elite of the world desire to consolidate their wealth.

If you will remember Kissinger re-surfacing right about Obama's election time, touting a globalization.. that the crisis was Obama's opportunity to go on with a new world order, blah, blah./.tyada yada... Since then, numerous world leaders, have been "calling" for a new world currency.

Many thought that the Tri Lateral Commission was going to be successful in joining Canada, USA, and Mexico, and combining currencies, and have just the "Amero". Some claim this is STILL a viable possibility..

To me it looks like they may be doing the hail mary pass, going for the whole enchalada; attempting to truly establishing a one world currency. It sure seems to be a good attempt.

One must remember that nothing just happens in politics and monetary circles. One must also remember a motto of theirs. "ORDER OUT OF CHAOS".
And I "think" it was a Rockerfeller who said, we will have a one world government someday, either by peaceful means, or by force." So... take it for what is worth.

They certainly have created chaos.. and now they steer the world towards another global conflict. to thin the herd, so to speak..

SOOOOooooo.... another main reason for me to move to the P.I...

Some may disagree, but to me... the lunatics have taken over the asylum..lol.

World "leaders".. are exponentially increasingly less qualified.. and seem to make decisions that do NOT help, and usually only enflame an already tense diplomatic situation. History repeats itself, and Divide and Conquer, or Heglian Dialectics, are almost always successful. Some refer to it as Problem, Reaction, Solution.

Will there be hyperinflation in the US dollars future? Not sure, but you can NOT keep injecting vast amounts of useless fiat paper into the economy without some very negative effects sometime down the road, right??

I believe a possible hyperinflationary situation would be much more survivable living in the P.I.... as long as one was able to still access their funds via ATM's etc.. If the dollar goes like the German Mark did in the 1920's.. then we will see a global depression of epic mess size... and all bets are off..

These are extreme scenarios, I know... but the more the idiots meddle and prop up "dung" to keep it standing... the closer we come to the end of the trail. The final come uppance.. and must pay the piper..??

All I know is you can't keep borrowing money, you must repay with interest, and then can't repay that debt, so you BORROW some more money to PAY THAT debt... it is already out of control to be honest with you... SOOO Obama sends Hillary to China to kiss their backsides and beg them to keep buying our bad debt.. in reality China is financing the empires war machine..in a round about way. If China quit buying debt, then it would be over quickly for the USA.

Nobody is talking about derivatives in the economy either...

Woodrow Wilson wrote in his book about the possibility of signing the future death knell of the nation, when he recollected upon the Federal Reserve Act, and him signing it into law..back in 1913.

the chickens have come home to roost... so how do we deal with it, the mess that has literally been thrust upon us?

Pravdaseeker

 

Well, here’s a conspiracy theory for you all to kinda munch on.

The rumor mill has been spinning of late and the jist of it is that this recent collapse in the market is a well-orchestrated plan by the leaders or the Board of Directors of the BIS or the Bank of International Settlement that is based in Basel, Switzerland. The BIS as you know is the banker of the worlds different Central Banks. It is a private institution and not under the control of any nation.

The purpose of this financial crisis is to take down the United States and the US dollars as the standard of global finance. Once that is done, enters the Global Monetary Authority that will then control the world’s finances. Guess who’s going to be controlling the GMA.. you’re right the BIS.

When the dust settles, the BIS will be under control and their minions of followers from the financial world will all become billionaires and we will all be at their mercy. Will this be a good thing? That remains to be seen but human natures tell us that greed in the fuel behind the financial world and personally I am skeptical.

After the great depression of the 1920-1930’s, which was triggered by the excessive speculations of banks. Safeguards were put in place to regulate the banks so the same scenario does not repeat. From then on Banks can no longer sell stocks and bonds. This gave birth to investment banks like, Goldman Sach, Lehman Brothers, etc.

When Alan Greenspan took the helm in the late 1980, he started his campaign of deregulation. What has protected us from the repeat of the problems that resulted in the great depression was gone. A free for all mergers of banks and Investment companies occurred. Millionaires and Billionaires were created. The stock market grew to unprecedented heights and the people became drunk with all the money they were making.

On top of this the US Congress passed a bill called the Community Reinvestment Act that guaranteed equal access to loans and mortgages to low income families, with little or no regard for their capacity to pay. With little or no down payments and no need to have good credit records tons of money were loaned to deserving minorities and low-income people. Thus the birth of the sub-prime loans that is being blamed as the catalyst for the financial crisis we are now dealing with. The banks and their new partners had a feast bundling these sub-prime mortgages and other quality mortgages together and selling them to wall street as mortgaged backed securities who in turn sold them to investors and everybody was happy.

Not too happy my friends, here come our good friends the BIS (see above). In an unprecedented move the BIS changed the accounting rule for banks and required banks to adjust their marketable securities to the market value of those securities (they can do whatever they want, they don’t answer to anybody, remember?) and the unraveling began. Now if some banks sell their securities low other bank must do so “based on market value”. Capital reserves of banks shrunk proportionately and the amount of money they can lend was reduced. Many banks were unable to lend and the credit market froze.

Next post the “Bailout”….

 

Bailout my @#s

OK, I hope it worked. This is the first time I sent an attachment. I was writing a summary of the bailout but when a friend sent me this I decided, this says it all, no need to waste my time.

If the picture did not come out well here is what it says. Before you believe this let me just say that I don't have positive confirmation of it's veracity nor do I have time to look for it so use the info whichever way you want to.

This is supposed to be a memo written by Geitner to Vikram Pandit, CEO of Citigroup.

Hey Vik,
Media's being pretty hard on us. Barack say we might have to fire one of you Bank Boys to prove we mean business. I hope that's ok with you.

P.S. Did you get the Oriental Rug I sent you? It's one of a kind. Just wanted to thank you for being you.

Timmy, Cute idea but let's not do that. I have boat payments you know? Oh and I regifted that rug to the head of the SEC. I already have seven.

Cheers,
Vik

If this makes you feel that the whole thing is just a big circus and we are the audience then, welcome to the club. So there you go Guys and Gals. Now, if you feel a hand in your pocket, don't be alarmed it's Uncle Sam doing it's best.