Canadian dollar closed 0.34 of a cent higher to 100.67 cents US today. Our dollar seems to be doing just fine.
The rest of the world is now bailing out of US debt. They can't sell the debt to anyone anymore... it's just too risky and the returns are paltry. http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/17/ccview117.xml With 60% of US debt owned by foreigners, we've become dependent upon cheap foreign inflows of cash to finance our spending sprees including the Wars in the Middle East, the overvalued real estate, and now the ongoing bailouts of American financial institutions. The only silver lining pointed out is that the Euro will soon tank too, so the dollar vs. Euro exchange rate won't get much worse. There's no doubt the ripple effects have already started to take their toll around the world. Soon the Arab oil states will unpeg their currencies from the US$ then it's a free-fall, imo.
Interesting turn of events, today, with the first U.S. nationalized (in essence) bank in living memory!
Hold on!! Inspite of our economic issues, Bush wants to send that $12 billion a month to Iraq to fight dem' terr-ists to "protect the American people." What we need to do is protect the American people from assholes like Bush and the Neo-cons who got us into this mess and perpetuate the "illusion" of our economy and lifestyle based on debt.
Yes, Luxumborg, The Caman Islands and Bermuda plus a few other islands are all tax havens, where the Billions of $ escape any country's taxes! And I believe even the Netherlands now is a tax haven, as foreign companies only need pay something like 5% of profits to the Dutch gov't, compared to something like the 45% or so that Dutch people pay on their income... But the beauty of all those off-shore accounts is that now that they are LOSING billions thru debt-deflation, they can't DEDUCT any of those losses from their taxes!!! haha - they've screwed themselves! Of course it's not like they'll have much taxes to pay if their net income is a loss anyway...
First Bear Stearns wasn't a bank, but a financial services company. Second the US didn't nationalize it, although for Fed's $30 billion they should've gotten every asset that company has. Instead it goes to J.P. Morgan/Chase which just happens to sit on the Fed's board... now there's something to chew on. Can you spell conflict of interest? So for some reason the Fed hands one company $30 billion, a company that today is worth only 240 million! Even at it's most overinflated value it was only worth $14 billion, so why is so much more being handed over? And why should so much money be handed to a firm that clearly took excessive risks and should pay the penalty, instead of providing money for things like health care, the environment, renewal energy, etc. etc... This country is a FUCKING DISGRACE!!!
Does anyone in his right mind think that Bushs' "economic stimulus package" will solve once and for all, the financial mess this country is currently facing? Think again. Since our country is $ 9 fucking trillion dollars in the hole, where do you think the money from this "stimulus" package will come from? Where else, but from more borrowings. A big part of it, from foreigners. Our government borrowing from itself is a joke, because we have no money to begin with. And more borrowings, result in an ever bigger national debt, plus interest, of course. Printing more paper "money" is a joke too. Is anyone surprised why the value of the fuckin' dollar is sliding?? Since most Americans don't have a lot of personal savings, the money from the "stimulus" package will be used to pay off debt, or buy stuff from Wal-Mart, or maybe, a big-screen t.v. from Japan, Taiwan, China, etc. Who benefits from Bush's "economic stimulus package"? - China.:jester:
Well Wall St. and the rest of the world is beginning to realize that the USA doesn't have a pot to piss in! All our wealth was FAKED! If a company like Bear Stearns can control 30 times the amount of money they have as assets, then that means that most of their "wealth" is nothing but hot air. Likewise most of the financial industry and stock market. By creating new ways to FAKE WEALTH, the shysters have fooled everyone including their own employees and the world. With Bear Stearns, nobody, absolutely nobody knows what the company is really worth. Likewise any American company that doesn't measure only its real assets. These FAKE asset classes are pure fabrications. A long time ago when I first tried to wrap my head around the ideas of futures and derivatives I just couldn't get it. They didn't make any sense. Now I know why. They're complete fabrications that FAKE wealth where none exists. Just like trading on margin. You got $1000 in an account to trade yet you can make like it's $10,000 with a margin account. So you have all this FAKE wealth, but it's an illusion. And when the SHITHITSTHEFAN, you are so fucked because the margin calls will require you cough up that $10,000 or else. And that is precisely what we are seeing sweep thru the markets this month. Margin calls on top of margin calls, with no end in sight. All we can pray is that the Fed will STOP printing more money to bail out all these institutions and let them fail. So what if Bushit's friends lose out, THEY DESERVE TO! I certainly won't be the one to break their fall when they jump!
The Federal Reserve isn't even a national institution to begin with, and it is not part of the government, either. It is a private corporation run by the international banking cartels. Once you realize this, and you understand that these people have absolutely no national allegience, you can see why the currency is deliberately being destroyed.
So what is Suzie Creamcheese to do? Can she still give head and eat it too? Guess she's too busy sucking the Elite's cocks to worry about debt-deflation. Sorry just had to respond to your sig...
No. I do not believe this stimilus check is going to do squat for any of the mess we're in. Did it help last time? And, what do I do with my savings now? What is anyone doing with the monies they've saved thus far, to keep it safe?
buying gold wouldnt be a bad idea, at least until the elections are over, the prices are sure to go up just before them
