- Hey you!
- When are you going to drop their stupid lies and open
your own eyes?
- Look at who is trading in their US securities their US
debt holdings - to buy dollars. No one, but the international elite!!!
- Look who is selling their gold for dollars.
- Look who using their media monopoly to talk us into
selling our dollars for their gold. (Selente is their gold salesmen.
The Money Power is selling gold and buying dollars!!!)
- The international elites own our media -- and the media
they own are giving us drumfire hard sell for us to buy their gold.
- Everywhere you look the Money Power is buying our dollars
and encouraging us to divest of our dollars -- while the Money power who
are getting all of our dollars from sales of gold and US securities are
using the money to buy foreclosed houses and turn them into rental properties.
Buying rental properties is not the same as investing in new US productive
capacity, which is exactly what the elites grabbing all of our dollars
are not doing. Our houses are not being bought from us, so that the money
would go back into the economy as we spent it -- that is not what is happening.
Rather the houses have been taken over by the banks and the foreigners
are using their dollars to buy those properties FROM THE BANKS so that
the money from the sales does not find its way back to the domestic economy.
- The central bank and the financial sector have clearly
shown that they have only one game plan, only one policy. They are robbing
the domestic economy loop of purchasing power so that we default on our
loans and forfeit all of our homes and other collateral to the banks so
that the banks can sell them to people of China and India and Israel --
rental properties. The money from the sale leaves circulation -- is not
invested, is not going to consumption, is not used for hiring or for reinforcing
the success of American businesses. And once the houses are sold to the
foreigners the rent from them will amount to a further drain.
- Now tell me what Glenn beck says will fix that? Tell
me how the US cutting taxes on the rich and cutting government spending
is going to mend that blood gushing rent in our sides?
- You are reading a letter from one of the very very few
people who sees and can communicate simply what is going on and who is
actually on your side with nothing to sell and no goal other than to save
people from endless misery ahead if you continue to let yourself be fooled.
- What deoderant, or after shave, or mouth wash, or hair
cream or gargle or toothpaste do I have to use before you will heed what
I am telling you and raise your voices to save yourselves from being pushed
the rest of the way through the financiers' meat grinder?
- Stopping the conquest of a nation through economic warfare
is not something to leave to the little red hen. It's time you got with
the real populist program and fought to sustain it against the program
that forces us to dry up and die.
- Tomorrow you will have less strength and reserve with
which to fight than you do today, and still less the day after tomorrow.
- Get up, Bambi!
- Remember, they want those dollars, not to give you a
job or back you in a venture - but to buy up estate sale after you are
- Date: Fri, 12 Nov 2010 12:30:35 -0800
- From: firstname.lastname@example.org
- Subject: Goldman predicts deeper dollar drubbing
- To: email@example.com
- QE2 is going to reduce the dollar by 20% so I hear.
- Highlight mine.
- Goldman predicts deeper dollar drubbing
- Posted by Colin Barr
- November 11, 2010 11:55 am
- Hasn't the greenback suffered enough?
- Not by a long shot, say Goldman Sachs economists in a
note to clients this week. They estimate the dollar's value would have
to drop by another 10% to bring the U.S. trade deficit down to its natural,
internally balanced level.
Another dollar downer
A call for a further decline in the dollar hardly ranks
as a shocker, what with sages from around the globe weighing in daily on
the supposed boneheadedness of Fed chief Ben Bernanke's decision to buy
more Treasury bonds.
But as far as the dollar has fallen, Goldman Sachs' Dominic
Wilson says it's important not to underestimate the size of the remaining
"To meaningfully reduce global imbalances, [the dollar]
needs to fall a lot more from here," he writes.
He adds that ideally, further drops in the dollar will
come not at the expense the usual suspects, the euro and the yen -- both
of which have shot straight up against the dollar since the U.S. recovery
ran out of steam in June.
The dollar traded recently at $1.37 against the euro,
off its recent low of $1.42, and 82 yen, after a recent 15-year low near
Instead, Wilson says, the lion's share of any coming decline
should come against the rising currencies of developing Asia. That's noteworthy
because rebalancing global trade is under discussion as global leaders
meet in Seoul for the G-20 meetings.
Recent weeks have brought cries of trade and currency
wars as the fall of the dollar has pushed up free-trading rivals such as
the yen and euro, while exposing dollar peggers such as China to rising
Apropos of Treasury Secretary Tim Geithner's proposal
to limit national trade gaps, Wilson estimates how much various currencies
would need to appreciate or decline to put trade accounts into broad balance.
By his reckoning, the four most overvalued currencies
in the world are called the dollar --with only the commodity-exporting
powerhouses of Australia, Canada and New Zealand topping the United States.
By contrast, the most undervalued currencies are those
in emerging Asia, led by China, Singapore, Taiwan and Malaysia.
To put the world on a balanced trade footing, Wilson estimates,
China's yuan needs to appreciate 19% in real, or inflation-adjusted, terms.
He also calls for big increases elsewhere in what Goldman dubs non-Japan
Asia, or NJA -- 28% for Singapore, 23% for Taiwan, and 13% for Malaysia.
"The basic picture that emerges is that current FX
trends-USD weakening and NJA strengthening-have a long way to go from here,
in line with our call for more broad USD weakness ahead," he writes.
Of course, for that to happen the way Goldman forecasts,
global leaders will have to come to a landmark agreement to change the
very economic policies that have brought them increasing prosperity over
the past decade.
"The likelihood of our seeing a massive paradigm
shift over 36 hours is not all that good," said Jessica Hoversen,
an analyst with MF Global. "There are so many questions, and for the
moment the self-righteous aren't apt to compromise."
But given the cracks in the established order, it's a
good sign that the discussions are happening at all, which will free everyone
to keep hoping that progress will be made one of these days, if not quite
In the meantime, Ben Bernanke will continue to get yelled
at and leaders in China and other emerging nations will face a growing
risk of asset bubbles and inflation. It's an unhappy reality, Wilson writes,
and "no amount of G-20 word-smithing can get around this fact."
Tags: Goldman, geithner, dollar, g20, yuan, rebalancing