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French Bank freezes US funds;Stocks Plunge on Rising Credit Anxiety

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posted on Aug, 9 2007 @ 11:26 PM
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Originally posted by djohnsto77

If the U.S. economy falters, China will be the hardest hit.


That is what we think and hope for but the vulnerability of the dollar is more that we may think when it comes to China.

You should read this article it tells how China can do more damage to the US currency that US on China's economy.

www.economyincrisis.org...




posted on Aug, 9 2007 @ 11:34 PM
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Just wondering but what do those China product recalls have to do with all of this? Why is it happening now -- we are talking about the timing of these recalls -- and does it have anything to do with the state of the current market?



posted on Aug, 9 2007 @ 11:39 PM
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As a financial/insurance advisor by profession, I've always urged my
clients to steer clear of the non-capped adjustable mortages. Thankfully,
most of them have done so. What I heard on the news tonight is that
a majority of the dollars in default are tied to blue-chip companies. That
would explain why most consumers are oblivious to what some people
are calling the early stages of a financial meltdown. Someone will have
to pay the price ultimately and it will probably be the working class. We
just don't know exactly how or when this will occur.



posted on Aug, 9 2007 @ 11:44 PM
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what's up with Asian markets

the yahoo finance browser is stuck i wonder if this is convenient or just a server problem

the chinese people have something american's don't. savings



posted on Aug, 9 2007 @ 11:49 PM
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biz.yahoo.com...

Yahoo: Asia Stock Plunge



posted on Aug, 9 2007 @ 11:50 PM
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Bring on the Amero! Long live Unite....North America!



posted on Aug, 10 2007 @ 12:01 AM
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Originally posted by djohnsto77
Yes, China's been saber rattling but all in all it means nothing.

There's an old saying something like "if you owe the bank $1000 then you fear the bank, but if you owe the bank $1,000,000 than the bank fears you" or something like that.

If the U.S. economy falters, China will be the hardest hit.



Bingo! Everyone thinks that China has the hammer now. Not. It will not be in the best interest of worldwide banks to let the US economy collapse as it will deal a worldwide fatal blow to the global financial system.



posted on Aug, 10 2007 @ 12:03 AM
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Does anyone recall my thread in regards to "The Story of Banks and how $1 becomes $6?

Here is the ATS link. Enjoy!

www.abovepolitics.com...'



posted on Aug, 10 2007 @ 12:11 AM
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Anyone have any ideas on how to profit if the selloff continues. I'm loathe to open a margin acct. to short anything. I've been eyeing the short and ultrashort ETFs for a while now, just been waiting on the time to act. This may be it. Also have been trying to decide which currency to put some money in to take advantage of a falling dollar (wish i had acted a few months ago on that one). I'm sure there is a way to make money even now, just may require a little creativity. I know that there will be buying opportunities in the near future. Blood on the streets and all that. I heard it refered to as "dumpster diving" somewhere lately.



posted on Aug, 10 2007 @ 12:12 AM
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Thanks for the link Realtruth... it's exactly the information I was thinking about reading up on now.
Reading that thread ... very informative!



posted on Aug, 10 2007 @ 12:16 AM
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Originally posted by cpdaman
what's up with Asian markets


Asia Squawk Box on CNBCW opened their show earlier this evening with the report that Asian markets were down at the opening hour. That was several hours ago.

World stock markets and central banks' actions/inactions will be quite a spectacle come Monday morning if this fragile financial scenario turns into a train wreck during Friday trading hours. Time will tell.

The screams of Jim Cramer during his televised nervous breakdown will long haunt my nightmares.

But in the meantime, remember Tommy's maxim:

"When in danger, when in doubt ... run in circles, scream and shout."



posted on Aug, 10 2007 @ 12:17 AM
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Originally posted by Realtruth
Bingo! Everyone thinks that China has the hammer now. Not. It will not be in the best interest of worldwide banks to let the US economy collapse as it will deal a worldwide fatal blow to the global financial system.


Perhaps, but factor in oil availability and oil prices. We know from history that OPEC will use oil as a weapon. And we know that China is booming and needing more oil.

China w/stranglehold on the dollar & consumerism up the wazoo coupled with a big chunk of the Mideast that would take a loss on oil income if it would hurt us bad enough, and add in how good it would make China feel to play the big dog. and you have a recipe for a bad day at Black Rock.

I'm not saying it will happen, or that it couldn't be averted, but if the idea occurs to me, then you can bet it has to others as well.



posted on Aug, 10 2007 @ 12:23 AM
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Well, from what I'm reading, it's looking like China's the one that's calling the shots now...

marg6043 posted the link below

Short but to the point.

www.economyincrisis.org...

[edit on 10-8-2007 by Palasheea]



posted on Aug, 10 2007 @ 12:24 AM
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I love it,
absolutley love it.
Everyones fleeing, everyones running...

The great empire has been totally ruined by one stupid idiot, and still.. people follow this moronic baboon.


Stocks tumble even as the Fed and European Central Bank try to ease concerns about a credit crunch.



U.S. Stocks Close Sharply Lower As Credit Jitters Spook Investors



Subprime Lender NovaStar Posts Big Quarterly Loss



Asian stocks fell across the board on Friday and the yen extended gains as investors dumped riskier assets following a rout in global markets sparked by a flare-up in credit jitters.


Its like a sinking ship, everyones tied to it and there frantically trying to cut the ropes.

America, your days are numberd... they have been for 6yrs... and that numbers starting to get mighty small.

Veap, Vat, you Zo.

Because in the coming world wide economic collapse that will bring about a major civilian war of ultimate proportions you are going to reap the hatred of 60yrs from corporate pillaging and greed.

The world will be forced to create a system that is void of American imperialism, and it will be a world of respect, honour and REAL humanity.

Its sad so many decent hearted, respectable Americans are going to be dragged through the mud, but im sure the real world, and the new world will be able to distinguish them as humane people... for the rest.. stay tied to your ship.

Bring me my cardboard box, Im prepared for the harddays.
Bring me my rifle, im prepared for the war.
So long as American imperialism is the greatest victim, ill be happy to give my life helping.





posted on Aug, 10 2007 @ 12:33 AM
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Originally posted by Agit8dChop

Bring me my cardboard box, Im prepared for the harddays.
Bring me my rifle, im prepared for the war.
So long as American imperialism is the greatest victim, ill be happy to give my life helping.





Im sure you will also enjoy the Russian tanks rolling down your street. Knock one empire down and another rises in its place.



posted on Aug, 10 2007 @ 12:43 AM
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How did we go from a short-term problem of a housing bubble and a small percentage of people getting overextended on their mortgages to an end of the United States as a world power?




posted on Aug, 10 2007 @ 12:49 AM
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Not sure if this has been mentioned, but hard times have even hit the virtual world. The largest bank in 'Second Life' has been forced to close, risking the funds of its members.


On Thursday, Ginko Financial - which is owned by Brazilian from Sao Paulo whose real name is Andre Sanchez - stopped accepting deposits, froze all withdrawals and converted account holders' balances into "tradeable debt securities" called Ginko Perpetual Bonds.

"There are a lot of people who put money in there and they are not going to get it out again," said Robert Bloomfield, a professor of management and accounting at Cornell University and a close observer of the Second Life economy. "For some of those people it's enough money that it's actually meaningful to them."


www.smh.com.au...

Ginko Financial blames it on the recent announcement of a ban on gambling in Second Life, however given the current financial situation, the timing can't be ignored.




[edit on 10/8/07 by Evasius]



posted on Aug, 10 2007 @ 12:54 AM
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Russian Tanks?
Nah wont happen, like I said its going to be a war like no other...
Russians will be to busy in the ME, China, and on their borders to be knocking down my small chanty shack in Papatoetoe.

As for a world crisis DJ?

The US, cannot continue the way its going and keep its level sustained.
Your economy is dying, quickly.
the dollars all but useless,

6yrs ago my aussie dollar bought me 60 odd cents.. at one stage it was buying close to 85c... thats a drastic difference.
hell, the NZ dollar is around 75% of the American.
600billion wasted, thats got to cause stress 'somewhere'

Your economy is strong and stable when its used and nurtured... but its been neglected and maniuplated and its out of control now.

Put it this way...

a decade ago, the world dared not do anything drastic that would piss of the USA,
IE North take on South Korea
China take on Taiwann.

because the US would just war with them, they'd have the economy to secure their future and the weapons to destroy the agitator.

NOW?
the US economy cannot handle any more stress
America cannot use the weapons it holds, because the world no longer backs American imperialism.

One day soon, your going to be forced to break that nuclear taboo, in order to save your economy from a drawn out, and costly war.
IE if china take taiwann.

This will result in major consequences being suffered all over the world in various nations...

The reason the world was at peace for so long, and the reason no one dared concieve a plan akin to the third reich is because the super power had
'' economic clout ''
'' military clout ''
'' and respect ''

America has just lost ALL 3..


your a seat warmer until the big game... and the only people you can blame are those sitting in the whitehouse.

Any other president, would never of allowed things to get so bad.

It mightnt happen tommrow, or next week, or next year...
but your in decline in an uncontrolable way...
like the titanic sinking, its a mathematical certainty.

[edit on 10-8-2007 by Agit8dChop]



posted on Aug, 10 2007 @ 01:00 AM
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I'm not quite sure where you got your economics degree Agit8dChop, but I'm not going to argue with you.

--- In other news, ---

One thing I'm looking at is why does Europe seem to be reacting worse than the U.S. when this is supposed to be a U.S. problem? If you look at Asian trading this morning the euro is falling more than the dollar against the yen. Plus the European Central Bank yesterday injected like six times the amount of cash into their banking system as the Federal Reserve did in the U.S. system. It is puzzling to me. Maybe the banks/markets know something we don't yet?



posted on Aug, 10 2007 @ 01:02 AM
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Originally posted by Golack

Originally posted by Agit8dChop

Bring me my cardboard box, Im prepared for the harddays.
Bring me my rifle, im prepared for the war.
So long as American imperialism is the greatest victim, ill be happy to give my life helping.





Im sure you will also enjoy the Russian tanks rolling down your street. Knock one empire down and another rises in its place.


Any change is good...



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