Currency war goes global

Piney · Nov 13, 2011

:lurk5:

midgardsun · Nov 14, 2011

EFSF- the European Fiasco Suicide Formula

European politicians are faced with one problem: none of their plans to end Europe’s debt crisis has worked. Absolutely nothing. Which is not that surprising – since when does adding debt solve a debt problem?
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http://www.zerohedge.com/news/guest-post-euro-fiasco-suicide-formula-efsf

midgardsun · Nov 15, 2011

Currency wars

We’re in the throes of Currency War III, and Ben Bernanke has won the first offensive by flooding China with inflation.
If this sounds like a geeky online game, recall how Chinese prices surged after the Federal Reserve unleashed its quantitative easing in 2009 and 2010, one of many moves James Rickards parses in his somber book, “Currency Wars.”
“It was the perfect currency-war weapon and the Fed knew it,” he says, describing how the Fed’s expanding money supply forced China to print more yuan to maintain its peg to the dollar. “China was now importing inflation from the United States through the exchange-rate peg after previously having exported its deflation to the United States.”
Enough was enough, as President Barack Obama has now summed up the U.S. view that the yuan remains undervalued.
Rickards, whose CV includes stints at Citibank Inc. and Long-Term Capital Management LP, has written one of the scariest books I’ve read this year. Though I was tempted at first to dismiss him as alarmist, his intelligent reasoning soon convinced me that we have more to fear than fear itself.
Part history, part primer and analysis, the text covers topics ranging from the “misuse of economics” to complexity theory. The pieces, although disparate, fit together snugly, as in one of those mystery jigsaw puzzles that come with clues in lieu of cover art. The picture that emerges is dark yet comprehensive and satisfying.
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http://www.bloomberg.com/news/2011-...lation-as-currency-war-intensifies-books.html

midgardsun · Nov 18, 2011

Goldman sucks taking over europe, already 2 G.S. men as primary ministers in Italy and Greece
https://www.youtube.com/watch?v=cpNlnpn0Jvk&feature=player_embedded"]MEDIA WATCH - YouTube

midgardsun · Nov 18, 2011

interactive graphic: who owes what to whom?
http://www.bbc.co.uk/news/business-15748696

krish · Nov 20, 2011

yes,,,
really a currency war.

midgardsun · Nov 20, 2011

a nice one: one Dollar of debt makes...

midgardsun · Nov 25, 2011

and it goes on...general strike in Portugal...Portugal downgraded...Hungary downgraded...

krish · Nov 25, 2011

Thanks for cool information.

midgardsun · Nov 25, 2011

krish said:

Thanks for cool information.
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thanks and hep there goes the next one: Belgium downgraded.

I get the impression that things start to speed up these days.

midgardsun · Nov 26, 2011

China, Russia to quit the dollar

St. Petersburg, Russia - China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.
Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.
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http://www.chinadaily.com.cn/cndy/2010-11/24/content_11598626.htm

midgardsun · Nov 28, 2011

Prepare for riots in euro collapse, Foreign Office warns

http://www.telegraph.co.uk/news/pol...ts-in-euro-collapse-Foreign-Office-warns.html

midgardsun · Nov 30, 2011

The final phase of exponential growth begins:

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing coordinated actions to enhance their capacity to provide liquidity support to the global financial system. The purpose of these actions is to ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and so help foster economic activity.
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http://www.federalreserve.gov/newsevents/press/monetary/20111130a.htm

midgardsun · Nov 30, 2011

"The world is watching Europe, waiting upon a solution. It's not just the euro that's at stake. If the euro fails, so too does the 27-nation European Union. Bank lending would freeze, stock markets would likely crash, and Europe's economies would follow. Nations in the euro-zone would see their economic output decline, though temporarily, by as much as 50%, according to UBS forecasters. That economic meltdown would then spread to the U.S. and Asia, who would find themselves caught up in the credit freeze while their exports to Europe would collapse."
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As yet more proof that the global financial house of cards is about to violently collapse, Standard & Poor's took action late yesterday to downgrade the ratings of key globalist banks (http://www.foxbusiness.com/industri...). Banks downgraded by S&P include:

• Citigroup
• Wells Fargo
• Bank of America
• Goldman Sachs
• JPMorgan Chase
• Morgan Stanley
• Barclays

... and many others. These ratings downgrades stemmed in part from the realization that failures of these banks may not be covered by governments which claim to insure their deposits.

Learn more: http://www.naturalnews.com/034281_Eurozone_debt_crisis.html#ixzz1fCcrhrig

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http://www.naturalnews.com/034281_Eurozone_debt_crisis.html

midgardsun · Dec 16, 2011

Downgrading big banks II

Fitch Downgrades 8 Global Banks Including BNP, SocGen, BofA, Deutsche, And Morgan Stanley
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http://www.zerohedge.com/news/fitch...p-socgen-bofa-deutsche-morgan-stanley-and-ubs

midgardsun · Dec 17, 2011

Chinas take over of the banking world

http://www.zerohedge.com/news/charting-chinas-take-over-banking-world-and-stark-warning

midgardsun · Jan 13, 2012

Friday13 downgrades of Austria, Italy, France

midgardsun · Jan 26, 2012

The US are loosing their reserve currency status

Since World War II, the United States has enjoyed the status of having the world’s reserve currency. After the war, the largest industrial nations got together in Bretton Woods, New Hampshire to work out rules for commercial and financial relations.
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Each nation adopted a monetary policy which tied its currency to the US dollar. At the time, US dollars were convertible to gold on demand, making for a sound currency and system.

In the late 60′s, the costs of the Vietnam war were escalating and France was worried that the US would not be able to cover their debts. French President Charles DeGaulle began converting their US debt into gold. This depleted the US Treasury and in 1971, President Nixon declared “force majeure” and essentially defaulted on US debt. This was done by ending the convertibility of US dollars to gold thus making the US dollar a fiat currency.
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http://www.flipthepyramid.com/index.php/entry/us-is-losing-its-reserve-currency-status

midgardsun · Jan 28, 2012

Fitch: 5 more downgradings
http://www.fitchratings.com/web/en/dynamic/fitch-home.jsp

midgardsun · Mar 2, 2012

Banker left speechless by Irish Journalist
https://www.youtube.com/watch?v=pCHu1kRT6hU"]Banker left speechless by Irish journalist - YouTube

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