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Re: loosing reserve status
No danger here for dollar. Actually quite the opposite. And it's pretty old news.Originally posted by marvenger View Post
http://www.itulip.com/forums/showpos...97&postcount=3
(BTW, Alex Jones is not the best source for economic analysis.) -
Re: loosing reserve status
yeah I know, I saw a headline flash on the news that thses countries had confirmed the arrangement but the alex jones site was the only current one that came up on google when i searched, all the others were old accounts of these countries saying they were going to do it. Alex jones is quick on the button at leastOriginally posted by $#* View Post
I don't get why its good for the dollar??Comment
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Re: loosing reserve status
Because it implies a leveraged (on the cheap) dollarization of Argentine and Brazil. This move looks very similar what the old Comecon was doing: regional barterization imposed by a disguised oligopsonic protectionism... well ... this is a sign of scarce hard currency.Originally posted by marvenger View Post
Couplel that with a formal or diguised dolar peg (or a narrow exchange ratio), in artificial underevaluation, and you get dollarization on the cheap. The Peso and the Real become in fact leveraged ETF certificates originated by their respective Central Banks .Comment
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Re: loosing reserve status
??? can you restate that in english. maybe brazil just doesn't want to own US assets from trade surpluses from countries outside of US and they can cut down on currency transaction costs. I would have thought the net effect of this would have been less circulation of the US dollar and more ka-poom, if we get to poom. I would have thought this means they were moving away from dollarization.Comment
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Re: loosing reserve status
Nope. Like Comecon countries it's actually is a sign of starvation of high-liquidity, high-powered money (treasuries or equivalent). That's why they want to have less circulation.Originally posted by marvenger View PostComment
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Re: loosing reserve status
But the real has been strengthening vs the dollar.It's Economics vs Thermodynamics. Thermodynamics wins.Comment
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Re: loosing reserve status
Originally posted by $#* View Post
I agree, he is all over the place, but mostly worshipping Ron Paul on the Mises altar, but it seems even Mike Whitney reads his site.
The New American Century; Cut short by 92 years
by Mike Whitney
...
Journalist Steve Watson reports on Infowars:
"A Council on Foreign Relations member and former policy planner under prominent Bilderberger Henry Kissinger has penned a piece in the Financial Times of London calling for a “new global monetary authority” that would have the power to monitor all national financial authorities and all large global financial companies.
“Even if the US’s massive financial rescue operation succeeds, it should be followed by something even more far-reaching – the establishment of a Global Monetary Authority to oversee markets that have become borderless." writes Jeffrey Garten also a former managing director of Lehman Brothers. (Infowar.com)
The dream of "one world" government does not die easily, but it is dead all the same. The center of the present global financial system is the Federal Reserve. Its offspring includes the Council on Foreign Relations, the IMF, The World Bank, the G-7 banking cartel and thousands of predatory NGOs which have expanded the grip of the Washington banking cabal and the dollarized system across the planet. But neoliberalism is collapsing and what we are seeing now is the erratic spasms of a terminal heart patient entering the final stages of cardiac arrest. There is no drug or medical procedure that will restore the victim to good health.
No one is looking to the US or its "supply side" hirelings to chart a course for their country's economic future. Those day's are over. The US will have to pull itself from the rubble and start over without the massive infusions of low interest capital from China, Japan and the Gulf States. The money spigots have been turned off. It's thin gruel and hard times ahead. That's the price one pays for swindling the world with worthless mortgage-backed snake oil and other "illiquid" garbage.
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http://www.globalresearch.ca/index.p...t=va&aid=10420Comment
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