| | | Page 1, 2, 3, 4, 5 | BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE!
| Winningjob
User ID: 385114
11/3/2009 1:01 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
mmmmmmmmmmmmm......Hot pockets!!!! Quoting: Anonymous Coward 738845
Revolutionary online garden produces delicious Organic Produce!
[link to peopleseekdirect.com] |
| wisdomknight
User ID: 807420
11/3/2009 1:01 PM
 | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
I agree....its going to be a real slow downward fall. Of course unless a false flag happens. |
| GlassPearls 
GlassPearls
User ID: 613866
11/3/2009 1:05 PM
 | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
I agree....its going to be a real slow downward fall. Of course unless a false flag happens. Quoting: wisdomknight
Or, if Israel mis-calculates. |
| Anonymous Coward
User ID: 735056
11/3/2009 1:06 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
G20 Meeting this weekend and they will be talking about getting rid of the dollar. Its finished you have only a couple of days to wind it down and get into SILVER AND GOLD!
[ link to thecomingdepression.blogspot.com]
BREAKING! THIS WEEKEND MY BALLS IN YOUR MOUTH!!!! |
| Anonymous Coward
User ID: 809536
11/3/2009 1:07 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
I agree....its going to be a real slow downward fall. Of course unless a false flag happens. Quoting: wisdomknight
The "false flag" has already happened. It will take a week for the plague to reach here from the Ukraine. Expect all hell to break out next week. |
| Anonymous Coward
User ID: 751857
11/3/2009 1:11 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
The ultimate demise of dollar reserve status
[link to www.busrep.co.za]
November 3, 2009
By Joseph Edozien
On continued thought, it seems increasingly difficult to avoid the murky conclusion that the ultimate demise of dollar reserve status is the implicit monetary policy of the United States of America.
Both the rhetorical and policy responses from the monetary authorities in the United States to the not so veiled undermining of confidence in the global currency reserve status of the dollar from other monetary authorities, notably from China and Russia, have been remarkably tepid and timid. This diffidence is not normal from America and is therefore thought-provoking.
This of course raises the quite awkward question of why and how patriotic monetary authorities in the United States could possibly see merit in implicitly colluding in the debasement of the perceived value of its own sovereign currency.
Does such implicit collusion make any sense? It does.
New Currency Possible
The eroding fundamentals of the dollar may necessitate its ultimate demise in any case.
One expects that such a death process will be orderly and gradual if there is indeed such a process in the further evolution of global financial events.
But there is a non-ignorable risk that such a death process, if there is such, could spiral out of control of the monetary authorities and become disorderly and sudden after an accelerated period of decline which erodes confidence rapidly, leading to a herd-like stampede from the dollar, thereby entailing catastrophic consequences in the real economic world of you and me.
Ever since the end of World War II, the dollar has been the de facto coin of the globe in international transactions. It has been the world’s de facto unit of pricing account and primary medium of global exchange.
The dollar, clearly, cannot adequately continue these functions in an era of its own debasement.
But why is the dollar being debased?
The process of monetary creation in the United States is conceptually not that difficult to understand.
Roughly and approximately: the United States Government, through its Treasury, issues IOUs of various sorts.
The United States Federal Reserve System, largely a consortium of private banks, monetizes these IOUs by crediting the US government’s bank accounts in its systems. This monetization of the government’s IOUs is created as public debts loaned at interest.
These debts become the assets of the banking system and the liabilities of the American people for several generations going forward since it is loaned on the full faith and credit of the people’s government as secured by its taxing and tax enforcement powers.
In other words, people pay taxes to pay the interest on their government’s debt. Furthermore, this monetization of the government’s debt largely forms the monetary base upon which the banking system then creates more loans of roughly around ten times their magnitude and more. In sum, the United States borrows its money at interest and then the people pay taxes to finance the interest on these loans.
It remains, of course, a ponderable conundrum why any people’s government, let alone that of the United States, would borrow money from largely private parties who create the money they loan out of nothing and then charge an interest for this service. But that odd mystery is a story for another day.
The basic problem facing the United States today is that America is factually bankrupt.
America’s current unfunded obligations, and its total debt, currently exceed the current measurable annual income generating output of the country by many orders of magnitude.
This is sobering indeed. It must furrow the brows of America’s monetary authorities who are charged with doing something about it.
Given that measurable annual income generating output cannot be increased sufficiently fast to a sufficient magnitude, especially if the liability to eventually pay is growing faster than any practically possible increase in that output, it would appear as if there is an intractable problem of threatening dimensions.
But if the currency is debased by inflating its issuance at a sufficiently fast rate, independent of a commensurate increase in output, perhaps there may be a solution even if that solution is unseemly.
This appears from a distance to be the thinking informing the inner sanctums of monetary policymaking in the United States right now. Dilute the debt by inflating the currency! In the end, there may have to be a new currency. Surprise! Surprise! We did not see this coming.
I personally do think we will see a new currency in the United States in our lifetimes, most likely amalgamated with other currencies in some sort of monetary union for a larger internal market.
We should all prepare now for this possibility because it probably is a probability.
What would be the ultimate effect of the demise of the global currency reserve status of the US Dollar, a process which seems now already underway?
Centralised Economy
Global monetary authority will become centralised and concentrated in global financial institutions practically unaccountable to any sovereign states, even if partially held so accountable by formal mandate.
This centripetal movement of global financial power and de facto global financial governance would further weaken state sovereignty and increase the global power of global financial technocrats whose masters will become even less clear and apparent.
This will mean further loss of effective control of states over their national economies thereby casting the Westphalian state system further into the dustbin of history.
We will then have not a multilateral international system of distributed governance but an increasingly unilateral global system of de facto centralised governance.
The concentration and centralization of global monetary policy in global financial institutions will complete the process of financial globalization thereby completing the process of economic and eventually political globalization.
While I will not take a position here as to whether or not this centralization and concentration of global power is ultimately a good thing or a bad thing, I will here take the position that this historic transition should not pass unnoticed or unencumbered with the most vigourous global debate, with the most observant scrutiny from world citizenry.
We should not hand over our financial and economic, and eventually political, destinies to practically unaccountable global technocrats whose real masters we do not know without fully understanding what that really means for us and what it might lead to for our progeny.
Joseph Edozien is Chairman of the South African New Economics Network. |
| Anonymous Coward
User ID: 768480
11/3/2009 1:14 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
Quoting: Anonymous Coward 808399
Burn your dollar bills now !! |
| Anonymous Coward
User ID: 715675
11/3/2009 1:16 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
As the fat, lazy pussies that we are, this comes as great news. Now maybe Americans will lose some weight for chrissakes. Quoting: Anonymous Coward 512611
THAT is your response to the dollar crashing and the world being taken over by foreign elitist bankers?
wow. |
| BadJack
User ID: 809051
11/3/2009 1:17 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
What are people doing w/ $ in Retirement ...right now I'm sitting in cash ... should I cash in, take tax hit and purchase gold/silver? Quoting: Anonymous Coward 781451
We cashed in earlier this year. Paid off everything and stocked up on all essentials. Food, ammo, wind mill for water, diesel, firewood, meds etc.
Bought gold and silver with the rest. The way things are going, the increase in the PM's will pay the tax hit for me. |
| Anonymous Coward
User ID: 781451
11/3/2009 1:20 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
What are people doing w/ $ in Retirement ...right now I'm sitting in cash ... should I cash in, take tax hit and purchase gold/silver?
We cashed in earlier this year. Paid off everything and stocked up on all essentials. Food, ammo, wind mill for water, diesel, firewood, meds etc.
Bought gold and silver with the rest. The way things are going, the increase in the PM's will pay the tax hit for me. Quoting: BadJack 809051
Appreciate comments on my question ... I think I will cash in on a good portion immediately ... the way I'm looking at it is ... will the $ be around when I retire? NOT! So I might as well get out now why I still have control .. before the outcome is decided for me .. I can't imagine any of what is to come will be good for the $ |
| SS TITANIC
User ID: 25
11/3/2009 1:23 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
That's a load of shit. The recession is over and Obama has saved us. The dollar will never crash! 
Yes, Capt. Obama will sail us into smooth seas...except for that itty bitty chunck of ice ahead!! |
| Anonymous Coward
User ID: 537928
11/3/2009 1:35 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
Ummm. yea, pretty much.
Just don't take away American Idol and Hot pockets and we're good to go.
Continue on as you were.....
As a sidenote, why are all of the guys on American Idol fags??? Have you ever noticed this?? Quoting: Anonymous Coward 809518
No, I don't watch it. I thought only fags watched it. |
| OwlTalking
User ID: 802201
11/3/2009 1:36 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
Actually the scenario that is rapidly advancing is much like the movie plot found in the American classic movie, It's A Wonderful Life which featured Jimmy Stewart. Only the bankers are represented by the character George Bailey. So, to get out of this thing, return your loans and such to the Federal Reserve and the banks. That way they in turn can mend out those dollars to someone else, and won't have to complain that they don't have enough scratch to pass around and ask the Federal Reserve to print up more.
Perhaps do what the elite are doing, buy up the infrastructure, and forget about separating yourself in your own little kingdom. How easy it will be for the millitary to amass a substantial group and roll over all the little feifdoms, because technically when we stock up our own separate households we are not doing this as a group.
Notice how when something is restricted, people desire it above all else, and how when we are glutted with something there is little demand? Gold is something that is now seemingly restricted, when it is a fact that there is so much gold in the world that it can be extracted from sea water. Silver on the other hand is in short supply.
The solution to most problems is generally close at hand. |
| Shaun1111
User ID: 567273
11/3/2009 1:47 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
dollar is already obsolete..
only reason it's still in use is because people still think it's worth something..
it's paper with ink and artwork on it..
lol
c'mon now
(^_*)
[link to www.lightworkers.org] |
| Shaun1111
User ID: 567273
11/3/2009 1:50 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
So, with that in mind, let's look at how money is actually created, and at what cost. If the Federal Reserve wants to print 1,000 one-hundred ($100) bills, their total cost for ink, paper, plates, labor, etc. would be approximately $23.00 (according to Davvy Kidd in "Why A Bankrupt America"). Now, if you do the math, the total cost of 10,000 bills would be $230.00 ($.023 x 10,000). But, and here's the catch - 10,000 $100 bills equals $1,000,000! So, the Federal Reserve can "create" a million dollars, then LEND it to the U.S. Government (with interest) for a total cost of $230.
00! That's not a bad deal, huh!
The banking industry calls this process "seignorage." I call it outright THEFT. Why? Well, regardless of the immense profit margin ($1,000,000 for $230), plus the huge interest payments, our government then needs to STEAL the American people's money to payoff their debts via a Mob-like agency called the IRS. So the bankers steal from the government, then the government turns around and steals from the people. I'm no genius, but who do you think is getting screwed in this process? US - the people at the bottom rung of the ladder.
What's worse is that - now catch your breath - there's NO MORE gold left in Fort Knox! It's all gone. In other words, the GOLD STANDARD that our financial system was based upon is now an illusion. We can't convert our money into gold --- only other currency. The entire underlying basis for our money is now a lie - a sham. The Federal Reserve has become so arrogant that they've become a literal MONEY MAKING MACHINE, creating currency out of thin air! So that's where the Fed gets their money - they literally make it, then lend it to us so they can make even MORE money off of it.
Money As A Religion
The above-detailed process has become so ridiculous that William Grieder, former assistant managing editor of the Washington Post, wrote a book in 1987 entitled, "Secrets of the Temple: How the Federal Reserve Runs the Country" that details how the Controllers have conditioned us to accept this absurd situation.
To modern minds," he writes, "it seemed bizarre to think of the Federal Reserve as a religious institution. Yet the conspiracy theorists, in their own demented way, were on to something real and significant. The Fed did also function in the realm of religion. Its mysterious powers of money creation, inherited from priestly forebears, shielded a complex bundle of social and psychological meanings. With its own form of secret incantation, the Federal Reserve presided over awesome social ritual, transactions so powerful and frightening they seemed to lie beyond common understanding.
"
Mr. Grieder continues, "Above all, money was a function of faith. It required implicit and universal social consent that was indeed mysterious. To create money and use it, each one must believe, and everyone must believe. Only then did worthless pieces of paper take on value.
"
Do you get it? MONEY is an ILLUSION! Why? Because the gold standard upon which our money is supposed to be based has been eliminated. There's no more gold in Fort Knox. It's all GONE! Now, money really IS only paper!!! In the past, money was supposed to represent something of tangible value.
Now it's simply paper!
Taken one step further, many of us don't even use paper money any more! Why? Well, here's a scenario. Many places of employment directly deposit their employee's paychecks into the bank. Once the money is there, when bill time comes around, the person in question can write out a stack of checks to pay them. Plus, when they need gasoline they use a credit card; and groceries a debit card. If this person goes out for dinner on Friday night, they can charge the tab on their diner's card. But what about the tip? They simply scribble in the amount at the bottom of the check. So far, the person hasn't spent a single dollar bill. Plus, if you bring electronic banking into the picture, we've virtually eliminated the use for money.
And, God forbid, what happens when encoded microchips are implanted into the backs of our hand?
In essence, money has become nothing more than an illusion - an electronic figure or amount on a computer screen. That's it! As time goes on, we have an increasing tendency toward being sucked into this Wizard of Oz vortex of unreality. Think about it. Americans as a whole are carrying more personal debt than in any other time in history. Plus our government keeps going further and further into the hole, with no hope of ever crawling out. But we have less and less actual MONEY! We're being enslaved by the debt of electronic blips on a computer screen! And 70% of the banks that control this debt via the Federal Reserve exist in foreign countries! What in God's name is going on? As author William Bramley says, "The result of this whole system is MASSIVE debt at every level of society.
"
We're getting screwed in a sickening way, folks, and the people doing it are demented magician-priests that use the ILLUSION of money as their control device. And I hate to say it, but if we allow things to keep going as they are, the situation will only get worse. Our only hope ... ONLY HOPE ... is to immediately take drastic action and remedy this crime.
(^_*)
[link to www.lightworkers.org] |
| Ignob
User ID: 809553
11/3/2009 1:54 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
I'm thinking this will start off with a dollar squeeze and a rapid but very short-lived rise in the dollar.
Read this...
[link to icliks.wordpress.com]
 i |
| Anonymous Coward
User ID: 752052
11/3/2009 1:56 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
That's a load of shit. The recession is over and Obama has saved us. The dollar will never crash!
 |
| Anonymous Coward
User ID: 809558
11/3/2009 1:58 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
This guy can't even afford 8 devaluated bucks for a domain name. |
| tkwasny
User ID: 809567
11/3/2009 2:08 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
mmmmmmmmmmmmm......Hot pockets!!!! Quoting: Anonymous Coward 738845
Ever try them with a bowl of nuked cheeze-whiz for dippin'? A guaranteed mini-tour through hell for the sensual decadence being enjoyed too much.
Sorry for the thread hijack. |
| all2human
User ID: 787809
11/3/2009 2:08 PM
 | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
We'll see. there's been talk about this at every G20/G8 meeting for over a year and they haven't gotten around to it yet. |
| SunDawnn
User ID: 801886
11/3/2009 2:10 PM
 | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
G20 Meeting this weekend and they will be talking about getting rid of the dollar. Its finished you have only a couple of days to wind it down and get into SILVER AND GOLD!
[ link to thecomingdepression.blogspot.com]
What G20 meeting this weekend????????? You mean the one in September? This Blogger is selling a friggin book people.
Ugh....! What would ever happen if we didn't have 'tomorrows' to pin false doom on? WTF.....stop this insanity!
Facilitating The Flow |
| Anonymous Coward
User ID: 519048
11/3/2009 2:12 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
G20 Meeting this weekend and they will be talking about getting rid of the dollar. Its finished you have only a couple of days to wind it down and get into SILVER AND GOLD!
[ link to thecomingdepression.blogspot.com]
You mean this from Sinclair?
---------------
October 30th the Fed is planning to curtail QE regarding Treasury auctions.
November 4th is the FOMC meeting most likely to contain discussions of timing for the exit from economic stimulation.
November 7th is the G20 meeting at which BRIC nations will anticipate a cessation of QE and a commitment to establish a currency alternative to the US dollar.
November 7th/8th - The Mayan Sixth Night begins! Dr. Callemann see's a very bad financial period starting on that very date!
See:
[link to 2012portal.myfeedportal.com] |
| Anonymous Coward
User ID: 792052
11/3/2009 2:16 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
G20 Meeting this weekend and they will be talking about getting rid of the dollar. Its finished you have only a couple of days to wind it down and get into SILVER AND GOLD!
[ link to thecomingdepression.blogspot.com]
What G20 meeting this weekend????????? You mean the one in September? This Blogger is selling a friggin book people.
Ugh....! What would ever happen if we didn't have 'tomorrows' to pin false doom on? WTF.....stop this insanity!
This meeting.
[link to www.reuters.com] |
| Anonymous Coward
User ID: 800262
11/3/2009 2:17 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
  |
| Anonymous Coward
User ID: 8398
11/3/2009 2:17 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
Gotta love all these Ponzi schemes. |
| Anonymous Coward
User ID: 751857
11/3/2009 2:18 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
G20 Meeting this weekend and they will be talking about getting rid of the dollar. Its finished you have only a couple of days to wind it down and get into SILVER AND GOLD!
[ link to thecomingdepression.blogspot.com]
What G20 meeting this weekend????????? You mean the one in September? This Blogger is selling a friggin book people.
Ugh....! What would ever happen if we didn't have 'tomorrows' to pin false doom on? WTF.....stop this insanity!
PREVIEW-G20 to launch drive to rebalance world economy
Tue Nov 3, 2009 10:04am EST
[link to www.reuters.com]
* To seek peer pressure system to combat global imbalances
* China's currency policy remains one of many hurdles
* No numerical targets likely for rebalancing
* IMF's role to be discussed
By Brian Love
PARIS, Nov 3 (Reuters) - Six weeks after world leaders vowed to rebalance the global economy, finance officials are set this weekend to struggle with the complex, politically sensitive process of building a mechanism to achieve that goal.
Longstanding disagreements over policy -- particularly China's refusal to be rushed into appreciating its currency -- mean that for now, countries are unlikely to decide on specific steps to narrow yawning trade and savings gaps between them.
Instead, finance ministers and central bankers of the Group of 20 nations, meeting in St. Andrews, Scotland on Nov. 6-7, will try to flesh out a commitment to subject national policies to international scrutiny and peer pressure in years ahead.
"At St. Andrews they can elaborate their leaders' framework, identify principles and a process, and assess how fast and where China is prepared to move first, and what it wants in return," said John Kirton, a professor who studies the G20 at the University of Toronto.
At their September summit in Pittsburgh, G20 leaders announced they would by November launch "a cooperative process of mutual assessment" of national economic policies and their impact on global growth. [ID:nN25524320]
This could eventually mean a sea change in policymaking, as countries coordinated their policies to avoid the economic stresses which contributed to the global financial crisis.
To cut trade gaps, export giants such as China, Japan and Germany would be required to promote domestic consumption and rely less on foreign demand. Countries with big trade deficits, principally the United States, would boost their savings rates.
CURRENCIES
But a deadlock among G20 countries over exchange rates, which could have a big effect in rebalancing trade, shows how hard it will be for the group to move ahead.
China allowed the yuan CNY=CFXS to rise gradually for a few years after 2005 but has kept it essentially flat against the dollar since the financial crisis worsened in mid-2008.
It has resisted making any specific commitment to resuming appreciation, to the point where the G20 summit in Pittsburgh largely dodged the issue, merely issuing a vague call for "market oriented exchange rates that reflect underlying economic fundamentals". [ID:nN25526802]
The signs are that the outcome of this month's G20 meeting will be no different. A Chinese trade official said last week that China would not permit a big move of the yuan until its exports had recovered significantly; some analysts interpret that to mean early next year. [ID:nPEK263853]
Europe and Japan have shown more tolerance to let their currencies strengthen; French central bank chief Christian Noyer suggested this week the euro zone could live with the pain if euro EUR= appreciation did not accelerate. The euro was "only slightly above its long-term average", he said. [ID:nLU672834]
But countries do not want to be seen as encouraging appreciation, even if that would cut imbalances. Yoshihiko Noda, due to stand in for Japanese Finance Minister Hirohisa Fujii at St. Andrews, told Reuters last week that countries should avoid competing to weaken currencies, but this did not necessarily mean Tokyo accepted a strong yen JPY=. [ID:nT350194]
So there is likely to be little appetite to discuss currencies at St. Andrews in other than general terms. Canadian Finance Minister Jim Flaherty said on Monday it was customary for the G20 to debate issues such as dollar weakness and the inflexibility of Asian currencies, but several G20 sources said they would not be big topics at the meeting. [ID:nL2324375]
NO NUMERICAL TARGETS
Without agreements on key issues such as currencies, the G20 is unlikely to feel able to commit itself to specific targets for rebalancing.
Britain, holder of the G20's rotating presidency, is keen to use medium-term targets for global economic growth as a starting point for discussing each country's policy options. But it could take months or years to agree on other numbers.
"We will reaffirm the need to share a common policy goal but won't come up with numerical targets," said one G20 official, who spoke on condition of anonymity.
"Each country needs to set medium-term (five-year) policy goals which should be consistent with each other. We could use figures such as growth rate, balance of payments, budget deficits, (and) employment here, but there's no consensus over what could be used as a common format."
Much of the talks in St. Andrews may therefore focus on the role of the International Monetary Fund, which the G20 wants to act as a global referee during the rebalancing process.
"Giving the IMF a stronger mandate to oversee G20 countries' macroeconomic policies was a step in the right direction," said Cornell University professor Eswar Prasad, an ex-IMF official.
"The finance ministers need to develop an enforcement mechanism to make their commitments more credible. Otherwise, stricter surveillance by the IMF will have no bite and the large economies will continue to play the game by their own rules."
The St. Andrews meeting may discuss the IMF's technical ability to monitor the global economy, and the extent to which it can make judgements independently without being influenced by member nations.
But there are still differences of opinion within the G20 over how the IMF's resources should be expanded and how voting power in the fund, traditionally dominated by the United States and other rich countries, should be redistributed towards China and the developing world. [ID:nN06336594]
Until these issues are cleared up, which could take many months, the IMF may not be able to operate decisively.
One of the biggest imbalances in the world economy, the U.S. current account deficit, is shrinking. It has dropped from a peak of over 6 percent of Gross Domestic Product to 2.8 percent in the second quarter of this year, its lowest level since the fourth quarter of 2001.
But analysts say the fall is essentially cyclical and due to the U.S. economic slump. The U.S. economy returned to growth in the third quarter after four quarters of contraction.
"There is every reason to believe imbalances will recur once the U.S. recovers," said UniCredit bank chief economist Marco Annunziata. (Editing by Andrew Torchia)
© Thomson Reuters 2009 All rights reserved |
| White Widow
User ID: 809298
11/3/2009 2:23 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
November 7th is the G20 meeting at which BRIC nations will anticipate a cessation of QE and a commitment to establish a currency alternative to the US dollar. Quoting: Anonymous Coward 809398
Interesting to see how Nov. 07 fits with the beginning of the 6th Night on Nov. 08, 2009 according to Dr. Calleman's interpretation of the Mayan Calendars.
Read his story:
[link to www.calleman.com]
...
In this plan for the evolution of consciousness we are now approaching the sixth night of the Galactic Wave Movement, the eighth of the nine levels, which will begin on November 8, 2009. If my understanding of the Mayan calendar is correct we will in this coming night be witnessing the most significant transformation of consciousness ever in the history of mankind.
...
At the time of this writing (October 31, 2009, 1 Ben) we are towards the end of the sixth day, the period of flowering in the process from seed to mature fruit in the Galactic Wave Movement, which precedes the sixth night. As I predicted in an earlier article it would now to some economists seem that the “global economic recession” (or the worst of it) is already over. There are however certain things currently going on in the world that belies this and are more in line with the prediction I made in an article in May ( [link to bit.ly] of a further economic downturn, especially expressed in a fall in the value of the US dollar, to take place around the time that the sixth night begins (see also: [link to bit.ly] While several sources now predict a dollar fall it is important to note that mine was made a relatively long time ago and if it proves to be correct shows that what is happening in the economy is part of a divine plan charted by the Mayan calendar.
...
What likely will happen then is that demands will be raised for a moratorium on debts, so that people will no longer have to pay to the banks to stay in their homes. Maybe this will be preceded on a larger scale by some nations that see it necessary to push for the cancellations of national debts as a means of stabilizing the world. If such a moratorium on debts is instituted it would however be like cancelling the power of money and the chains to the past as it exists now. This would effectively create a path towards a sustainable economy an economy where it is emphasized that the needs of people are met in the present moment (returning to the theme of cutting the chains of the past). This of course would be nothing short of a revolution, and most likely a worldwide such, since the worlds’ economies at the current time are so deeply entangled. Possibly this would spread from the US to much of the rest of the world. Such an enormous transformation of the world’s socio-economic system would then be likely to take place in the time period between July 17, 2010 (the Cosmic Convergence)** and the beginning of the Seventh day of the Galactic Wave Movement (November 3, 2010). Naturally, it would serve to dissolve many of the other systems of dominance that the world has inherited especially from the National, but also the Planetary, Wave Movement. Energetically speaking this time period, July 17- November 3, 2010, is created through the overlap of the pre-Universal Underworld and the Galactic Wave Movement.*** What this revolutionary time period most likely is going to amount to is a corresponding decrease of governmental and national authority (not that of any particular government, but governmental authority as such, something which humanity has inherited from the National Wave Movement and its patriarchal frame of consciousness. Needless to say some would try to take advantage of such a situation). It will seriously come into question what we need governments and national borders for “when no soul shall have power (to do) aught for another.” My vision for the time period from the Cosmic Convergence until the beginning of the seventh day of the Galactic Wave Movement is thus a total overhaul of human civilization. This then would also be a time to make choices of path individually.
Why would this particular time period, July 17, 2010 – November 2, 2010, bring such a revolutionary transformation? Well, there are two earlier time periods that are noteworthy as parallels to this upcoming one. One is AD 1498-1617, the Renaissance, which in a broad sense meant the overturning of the feudal system that saw the Vatican as the ultimate source of worldly power and the beginning of the modern era. The other is 1986-1992, which carried a revolutionary wave of democracy (including the fall of the Berlin Wall) resulting in a world whose hemispheres were no longer separated.
Please take your time and read the full article. |
| all2human
User ID: 787809
11/3/2009 2:27 PM
| | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
So, with that in mind, let's look at how money is actually created, and at what cost. If the Federal Reserve wants to print 1,000 one-hundred ($100) bills, their total cost for ink, paper, plates, labor, etc. would be approximately $23.00 (according to Davvy Kidd in "Why A Bankrupt America"). Now, if you do the math, the total cost of 10,000 bills would be $230.00 ($.023 x 10,000). But, and here's the catch - 10,000 $100 bills equals $1,000,000! So, the Federal Reserve can "create" a million dollars, then LEND it to the U.S. Government (with interest) for a total cost of $230.
00! That's not a bad deal, huh! Quoting: Shaun1111
Did you write this? It's missing some of the fundamental functions of the Fed and the Treasury for that matter.
Last Edited by all2human on 11/3/2009 at 2:28 PM |
| Drakensang
User ID: 809578
11/3/2009 2:29 PM
 | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
If that were really the case it would start a revolution I'm sure.
I doubt the TPTW want that. Well they probably do but it will be done incrementaly. I don't expect the dollar to be gone overnight.
And there is the catch that not many people get.
None of this is going to happen literally overnight. It's the slow downward slide that makes you comfortable and before you know it you wondered how you got there.
Same with the stock market. If it declines too fast, people make actually get out in time. Can't be having that.
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RIght, but I think that we've been at a slow pace so far .. seems like many nations are getting their ducks in a row so the switch can be flipped .. I have a feeling we'll see some 'critical event' that will distract the masses to divert attention away from how calculated all of this actually is .. and so that the switch can be flipped right under our noses. Quoting: Anonymous Coward 781451
The "critical event" will be the next major terrorist attack
on American soil.
The MAGNITUDE of death and destruction will produce panic
and fear off the scale.
Within one day the global financial system will be utterly
shattered.
Even the wealthy will lose their digital assets.
Investors would like to ride out the coming months with a
relatively stable financial plan, but the coming attack,
whenever that is, will change our world forever.
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| Eagle # 1
User ID: 802743
11/3/2009 2:32 PM | | Re: BREAKING! THIS WEEKEND THE U.S. DOLLAR IS OBSOLETE! | Quote |
For the AC who asked " Why are all the guys on American Idol fags ?"
EASY answer, learned 43 years ago, when a fag from work went to the Atlantic City Bathing Beauty contest; There are a LOT of Hot chicks that NORMAL guys SEE but, CAN'T touch/turned on by and EASY picking for the fags there !
Eagle |
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