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#1157 - 10/17/07 05:29 PM Todays News is interesting
MCSA TEK Offline
pledge


Registered: 09/13/07
Posts: 97
Loc: Orlando Fl USA
Every day I read the news and see stories that are serious warning flags about our economy. Yet these are almost never in mainstream newscasts. The giants are all shifting money off shore, and streamlining for lean times, while feeding the idiot masses stories about drunken blond pop stars.

Here are todays headlines for your consideration. (Followed by my commentary)

Japan and China Dumping Massive amouts of US Dollars

Countries own US Dollars and US Debt because it was a stable way to store wealth and it also had a very good return on investment. This was due to the massive amounts of interest that the US pays to these governments.

Since the Dollar is quickly becoming worthless, Countries who have stored vast amounts of their wealth in US Dollars are trying to save whatever they can by selling the Dollars before they become completely worthless. Can you guess what they are buying? Euros.

Saudi Arabia Removes Dollar Peg

This is the worst news of the bunch. Since the Dollar isn't based on Gold, what makes it stable? OIL. The US arranged to have the Dollar become the currency that oil transactions were based on. When the Dollar began being cut loose from OIL over the last several years, the stability of the dollar began to vanish.

This is another nail in our coffin.

Industrial giants lay offs and streamlining for slowdown

Although the news media has done a fantastic job keeping the sheep calm and ignorant, The financial analysts have been warning their clients about the next few years. These people are saying that credit will dry up due to defaulting. The credit the sheep do have will be maxed out due to the Christmas season. The masses who are used to spending more money than they earn, will begin to financially collapse because of an inability to get credit. Belts will be tightened and unnecessary spending will stop.

Its at this point that the economy collapses. Remember that most businesses are selling frivolous and unnecessary products. Coffee Shops and restaurants, and other luxury services will close. and unemployment will spike.

This is what companies are preparing for. Even my company has had meetings about getting our house in order to prepare for a very possable finantial crisis.

Chris
_________________________
Read about this great Patriot and Vote!
http://www.ronpaul2008.com/

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#1718 - 11/10/07 09:04 PM Re: Todays News is interesting [Re: MCSA TEK]
Meq Offline
Banned
active member


Registered: 08/28/07
Posts: 861
The dollar is clearly having problems.

Maybe the USA should join the Euro, making a transatlantic currency?

(I say that half-jokingly - I wouldn't bet on the feasibility of that. It's outside of my area of expertise though...)

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#1731 - 11/10/07 10:40 PM Re: Todays News is interesting [Re: Meq]
Fist Moderator Offline
veteran member


Registered: 08/31/07
Posts: 1453
Loc: B'mo Cautious MF
Ron Paul, Steve Forbes, and Pat Buchanan, have all been presidential candidates and have all advocated returning the USD to the gold standard. Food for thought in this primary season. And how many of you RP supporters are actually registered Republicans?

You do know how this works right?
_________________________
I am the Devil and I am here to do the Devil's work.

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