Author Topic: Dollar preparing to crash... (Read 2761 times)

240 is Back · « **on:** November 01, 2006, 11:11:27 PM »

Central Banks Caught In Gold Squeeze May Crush Dollar
By David Bradshaw
10-31-6

The founder the Gold Anti-Trust Action Committee says the U.S. government's so-called "Plunge Protection Team" is helping prop up the U.S. economy, dollar and stock market until Election Day.

Then, says Bill Murphy, "all hell could break loose" as the government's "strong-dollar policy" completely breaks down and is exposed as nothing more than a "keep-gold-weak policy."

For the last seven years, Murphy says, GATA has pounded the table, insisting to the world the gold market is manipulated, but government leaders, the banking establishment and their captive financial press have refused to debate the issue, dismissing it as "conspiratorial" nonsense.

But Murphy contends "GATA has proof on the public record that central bank gold reserves on deposit are only half of the 32,000 tons they officially claim to hold and are now starting to hit the wall as gold prices keep rising."

Murphy sees a "convergence" coming in the gold market between the rising physical demand for gold and shrinking mining output and supply with the gold price "management" by central banks caught in the squeeze.

The Wall Street Journal reports, "Treasury Secretary Henry Paulson, a Wall Street veteran has reinvigorated the President's 'Working Group on Financial Markets' (PPT), which includes heads of the Fed, SEC and Commodity Futures Trading Commission."

Clubber Lang · « **Reply #1 on:** November 01, 2006, 11:51:48 PM »

this article sent me to wikipedia in search of info on gold

http://en.wikipedia.org/wiki/Gold

i came across this quote

Quote

Use of gold crowns in more prominent teeth such as incisors is favored in some cultures and discouraged in others.

and for some reason i thought it was hilarious

Cavalier22 · « **Reply #2 on:** November 02, 2006, 08:47:34 AM »

The case i was workign on for a while accuses the biggest gold company in the world of keeping gold prices artificially high in 2001-2002 period.

Cavalier22 · « **Reply #3 on:** November 02, 2006, 08:49:36 AM »

"... The GATA folks are again aflame as they blame the weakness [in the price of gold] upon various market machinations by governments and large Wall Street organizations. This is utter nonsense, of course, but we shall never be able to convince GATA of that fact. ... Even if it is not nonsense, even if GATA were truly on to something, we should care not a whit for the market will move where the market needs to move. The gold market had become far too heavily invested-in by the public, and those public investors have to be taken out."

Nordic Superman · « **Reply #4 on:** November 02, 2006, 09:00:13 AM »

This is fucking shit

My wage is in USD... so it has to go through exchange before being deposited in my GBP Bank account... MEGA LOSSES for me

Tell Bush to sort this out IMMEDIATELY, he doesn't know who the fuck he is dealing with

240 is Back · « **Reply #5 on:** November 02, 2006, 09:26:41 AM »

I've been spouting this here before and I'm doing it again.

Dollar, oil, int rates... everything is being manipulated for the Nov 7 election.

Buy your christmas presents no, kids. That dollar you hold is going to be worth 95 cents in Jan and 85 cents in March

240 is Back · « **Reply #6 on:** November 02, 2006, 09:40:04 AM »

CNBC now predicting the dollar is slowing down.

Retail sales figures are disappointing... 60% of companies missed their Q goals.

personal spending dropped tremendously in Aug and sept, from .80 to .16

CPI dropped .75 last month alone.

PPI down 1.16 last month

GDP down 4.0 in 2 months.

Once the fed pulls the crutch away, this little deck of cards is falling, kids

Faust · « **Reply #7 on:** November 02, 2006, 12:11:24 PM »

Part of the reason the USA invaded Iraq is to protect the dominance of the dollar. Saddam was threatening to sell his oil, linked to another currency or some shit like that (didnt really care to figure it out).
I don't remember exactly but i read something on it a year ago. If the dollar loses it's first place, it will really fuck up the economy, or take away the advantages it has right now over other countries.

The Euro seems to be pretty stable the last couple of years...

240 is Back · « **Reply #8 on:** November 02, 2006, 12:53:58 PM »

The Invasion of Iraq: Dollar vs Euro
Re-denominating Iraqi oil in U. S. dollars, instead of the euro
by Sohan Sharma, Sue Tracy, & Surinder Kumar
Z magazine, February 2004

What prompted the U.S. attack on Iraq, a country under sanctions for 12 years (1991-2003), struggling to obtain clean water and basic medicines? A little discussed factor responsible for the invasion was the desire to preserve "dollar imperialism" as this hegemony began to be challenged by the euro.

If OPEC oil could be sold in other currencies, e.g. the euro, then U.S. economic dominance-dollar imperialism or hegemony-would be seriously challenged.[/b] More and more oil importing countries would acquire the euro as their "reserve," its value would increase, and a larger amount of trade would be transacted and denominated in euros. In such circumstances, the value of the dollar would most likely go down, some speculate between 20-40 percent.

In November 2000, Iraq began selling its oil in euros. Iraq's oil for food account at the UN was also in euros and Iraq later converted its $10 billion reserve fund at the UN to euros. Several other oil producing countries have also agreed to sell oil in euros-Iran, Libya, Venezuela, Russia, Indonesia, and Malaysia (soon to join this group). In July 2003, China announced that it would switch part of its dollar reserves into the world's emerging "reserve currency" (the euro).

After September 11, 2001, Islamic financiers began to repatriate their dollar investments-amounting to billions of dollars-to Arab banks, as they were worried about the possible seizure of their assets under the USA PATRIOT Act. Also, they feared their accounts might be frozen on the suspicion that such accounts fund Islamic terrorists. Iranian sources stated that their banking colleagues felt particularly hassled as Washington heated up its war of words and threats of military intervention. This encouraged Tehran to abandon the dollar payment for oil sales and switch to the euro.

Iran also moved the majority of its reserve fund to the euro. (Iran is the latest target of the U.S., which has interfered by stirring up opposition forces, and making covert threats.)

http://www.thirdworldtraveler.com/Iraq/Iraq_dollar_vs_euro.html

240 is Back · « **Reply #9 on:** November 02, 2006, 12:57:49 PM »

The War To Save The U.S. Dollar
(First released March 26, 2003; revised April 18, 2003.)
http://us.altnews.com.au/article.php?sid=4645

The URL for this article is:
www.trinicenter.com/oops/iraqeuro.html

The Americans could live with Saddam until he started selling oil for euros instead of U.S. dollars. Then the Europeans could live with him.

Faust · « **Reply #10 on:** November 02, 2006, 01:08:42 PM »

Quote from: 240 is Back on November 02, 2006, 12:57:49 PM

The War To Save The U.S. Dollar
(First released March 26, 2003; revised April 18, 2003.)
http://us.altnews.com.au/article.php?sid=4645

The URL for this article is:
www.trinicenter.com/oops/iraqeuro.html

The Americans could live with Saddam until he started selling oil for euros instead of U.S. dollars. Then the Europeans could live with him.

Don't you just love the way this world works?

240 is Back · « **Reply #11 on:** November 02, 2006, 03:04:09 PM »

yikes... dow's longest losing streak since june of last year

about to dip below 12k

MKD · « **Reply #12 on:** November 02, 2006, 03:43:00 PM »

Quote from: 240 is Back on November 01, 2006, 11:11:27 PM

Central Banks Caught In Gold Squeeze May Crush Dollar
By David Bradshaw
10-31-6

The founder the Gold Anti-Trust Action Committee says the U.S. government's so-called "Plunge Protection Team" is helping prop up the U.S. economy, dollar and stock market until Election Day.

Then, says Bill Murphy, "all hell could break loose" as the government's "strong-dollar policy" completely breaks down and is exposed as nothing more than a "keep-gold-weak policy."

For the last seven years, Murphy says, GATA has pounded the table, insisting to the world the gold market is manipulated, but government leaders, the banking establishment and their captive financial press have refused to debate the issue, dismissing it as "conspiratorial" nonsense.

But Murphy contends "GATA has proof on the public record that central bank gold reserves on deposit are only half of the 32,000 tons they officially claim to hold and are now starting to hit the wall as gold prices keep rising."

Murphy sees a "convergence" coming in the gold market between the rising physical demand for gold and shrinking mining output and supply with the gold price "management" by central banks caught in the squeeze.

The Wall Street Journal reports, "Treasury Secretary Henry Paulson, a Wall Street veteran has reinvigorated the President's 'Working Group on Financial Markets' (PPT), which includes heads of the Fed, SEC and Commodity Futures Trading Commission."

GATA is not a good source for econimic information on the relationship between the dollar and gold. Reference the GATA website and you will see that their "committee" is represented by a former hotel manager and the editor of a small daily newpaper. The primary purpose of the GATA "organization" is to perpetuate rumors on anti-trust issues, such as the artificial proce of gold, to obtain business for the law firm it is affiliated with.

Since the early 1970's, when Richard Nixon took the US off the gold standard, there has been little relationship between the price of gold and the US dollar. When Nixon took us off the standard, there was panic that the dollar would crumble. It didn't, it got stronger. Realize that the amount of foreign investment in the US means that the dollar will be relatively stable-- China owns close to $1 trillion in US dollars. The Chinese economy would be hurt more by a weak dollar than the US. A weak dollar actually is beneficial because it increases the cost of imports and decreases the cost of exports (which would theoretically increase our economy). World currencies are so interconnected that it really does not make a huge difference how commodities are priced.

The only issue is it affects guys like nordic (and US servicemen overseas) that get paid in US dollars. Just wait and see, if the dollar falls- domestic corporate profits will rise and Japanese plasma TVs will be cheaper.

240 is Back · « **Reply #13 on:** November 02, 2006, 04:42:00 PM »

It's not THE source, but it should be considered along with a wealth of every evidence which is coming to life.

Dow is still slipping. Most economic indicators (which typically precede economy performance by 1 or 2 months) say the last 2 months have been a 180 (in a bad way).

Fed held inf. rate at 5.25 max for last 5 months, oil supply was above demand for 3 months to drop prices, and man.... it's all about to collapse right after the election.

24KT · « **Reply #14 on:** November 03, 2006, 09:00:14 AM »

Now why is it that when I posted this info about the euro connection in 2004, everyone called me an idiot.

Man I feel sooooooo like Rodney Dangerfield right now!

240 is Back · « **Reply #15 on:** November 03, 2006, 10:06:23 AM »

Quote from: jaguarenterprises on November 03, 2006, 09:00:14 AM

Now why is it that when I posted this info about the euro connection in 2004, everyone called me an idiot.

The only hope is that as people see you correct time and time again, they will start to put more stock in your words and listen the next time.

MKD · « **Reply #16 on:** November 03, 2006, 04:09:17 PM »

Quote from: jaguarenterprises on November 03, 2006, 09:00:14 AM

Now why is it that when I posted this info about the euro connection in 2004, everyone called me an idiot.

Man I feel sooooooo like Rodney Dangerfield right now!

I bet they called you an idiot because they didn't understand global economics (I have a strong economic background

). The more international commodities (oil, steel, wheat, etc) priced in euros basically means that demand for dollars decreases. The demand for dollars is what allows our country to have huge trade deficits and debt and is why our taxes are lower than most other countries. If any country (especially China) wants to screw with America the best way would be to stop buying our debt. Our economy would contract and our taxes would be significantly greater.

Of course, saying all that-- foreign governments own over $2 trillion in foreign reserves. A weak dollar means their reserves decrease in value-- it also means that imports to America are cheaper for us to buy. It's basically a global economic catch-22.

240 is Back · « **Reply #17 on:** November 03, 2006, 04:13:36 PM »

MKD,

WTF are you doing here using reason and actual facts?

We don't need that shit around here.

It's all the fault of the liberals, 911 was the most miraculous day in the history of physics and logistics, and the war has nothing to do with oil.

HTH.

MKD · « **Reply #18 on:** November 03, 2006, 04:23:32 PM »

Quote from: 240 is Back on November 03, 2006, 04:13:36 PM

MKD,

WTF are you doing here using reason and actual facts?

We don't need that shit around here.

It's all the fault of the liberals, 911 was the most miraculous day in the history of physics and logistics, and the war has nothing to do with oil.

HTH.

Apologies-- new guy on the board

. I know nothing about physics/logistics so your 911 theories are safe... What's HTH??

240 is Back · « **Reply #19 on:** November 03, 2006, 04:28:31 PM »

Quote from: MKD on November 03, 2006, 04:23:32 PM

Apologies-- new guy on the board . I know nothing about physics/logistics so your 911 theories are safe... What's HTH??

LOL... sorry dude, I was being sarcastic. It's refreshing to see some intellect! Very often here, we have people who blame liberals for everything, blindly swallow the 911 Official story no matter how absurd it is, and tell us with straight faces that we don't care one bit about Afghan or Iraqi oil.

Good to have ya here!

(HTH = Hope this helps)

Dos Equis · « **Reply #20 on:** November 03, 2006, 04:28:45 PM »

Quote from: jaguarenterprises on November 03, 2006, 09:00:14 AM

Now why is it that when I posted this info about the euro connection in 2004, everyone called me an idiot.

Man I feel sooooooo like Rodney Dangerfield right now!

I'm not going to knock this one out of the park, but you have to stop lobbing these kinds of softballs out there.

MKD · « **Reply #21 on:** November 03, 2006, 04:33:30 PM »

Quote from: 240 is Back on November 03, 2006, 04:28:31 PM

LOL... sorry dude, I was being sarcastic. It's refreshing to see some intellect! Very often here, we have people who blame liberals for everything, blindly swallow the 911 Official story no matter how absurd it is, and tell us with straight faces that we don't care one bit about Afghan or Iraqi oil.

Good to have ya here!

(HTH = Hope this helps)

I'm not a political guy, but the liberals on this board seem to have much better arguments than the conservatives.

240 is Back · « **Reply #22 on:** November 03, 2006, 04:35:35 PM »

Quote from: MKD on November 03, 2006, 04:33:30 PM

I'm not a political guy, but the liberals on this board seem to have much better arguments than the conservatives.

the best arguments come from the strong constitutional guys. The moderate repubs... they're not warmongering oil-thirsty Bush yes-men. But they're not welfare lovin, tree-hugging, terrorist-sparing pussies either.

We're right in the middle

Dos Equis · « **Reply #23 on:** November 03, 2006, 04:46:04 PM »

Quote from: 240 is Back on November 03, 2006, 04:35:35 PM

the best arguments come from the strong constitutional guys. The moderate repubs... they're not warmongering oil-thirsty Bush yes-men. But they're not welfare lovin, tree-hugging, terrorist-sparing pussies either.

We're right in the middle

I don't know what you mean by "constitutional guys," but the best arguments come from the people make the most sense, regardless of party.