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Fears of dollar collapse as Saudis take fright

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posted on Sep, 19 2007 @ 06:22 PM
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Fears of dollar collapse as Saudis take fright


www.telegraph.co.uk

Saudi Arabia has refused to cut interest rates in lockstep with the US Federal Reserve for the first time, signalling that the oil-rich Gulf kingdom is preparing to break the dollar currency peg in a move that risks setting off a stampede out of the dollar across the Middle East.

"This is a very dangerous situation for the dollar," said Hans Redeker, currency chief at BNP Paribas.
(visit the link for the full news article)

[edit on 19-9-2007 by UM_Gazz]




posted on Sep, 19 2007 @ 06:22 PM
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Well, the bets were for friday a collapse of more than third of the market... it could happen. Let's see tomorrow, it will be ugly, and with this talk of expanding the federal debt to near 10 trillions... but the average joe thinks the economy goes well because the stock market is high...

The dollar will collapse and everyone who's selling oil or have huge stock of US currency will be in trouble. IMO China will be in trouble and Russia will be the winner of this whole debacle.

Remember who's doing this to you: the FED engineered it with their adjustable rates and their sending of credit cards to young kids and all the propaganda about paying later... the longest it continues, the highest the oil goes, and the highest the oil goes, the worst it's gonna be.

Also, there's Greenspan and his little NWO friends trying to destroy the dollar by saying that it will collapse, the euro is the next currency, ect... there's also the runs on the banks everywhere in the US, in UK, in France... this looks VERY BAD.

www.telegraph.co.uk
(visit the link for the full news article)

[edit on 19-9-2007 by Vitchilo]



posted on Sep, 19 2007 @ 06:34 PM
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You know Vitchilo, just because the Saudis are US friends and our biggest sellers of oil, it doesn't mean that the Saudis are very happy with what goes on in the middle east and the Arab world.

This people are very upset of what goes on in Iraq and also with Israel and the Palestine.

Now Israel is causing trouble bombing around, Syria and Lebanon.

Very soon the phone calls will start and Bush will have to put a hold on Israel horses in favor of Saudi Arabia keeping the dollar.

Is many things that goes around behind close doors with the Saud family that we the regular joes do not know, is all about alliances and business deals.


If your read Bob Woodward book state of denial it tells about the bushes alliances with the Saud family.

[edit on 19-9-2007 by marg6043]



posted on Sep, 19 2007 @ 06:54 PM
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Its only a matter of time before the dollar collapses. Check out freedomtofacism.com. There is a very good explanation on how the Federal Reserve functions. To me, it's the single greatest piece of evidence in favor of all the NWO theories.



posted on Sep, 19 2007 @ 07:14 PM
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I say screw Saudi and lets get back what belongs to the U.S.!
They were just a bunch of nomads without a 'real' country before the oil and they had no idea what was beneath them.

The U.S. found the oil, built the refineries and all the infrastructure that goes along with it. Unfortunately we showed them how to extract the oil and taught them how and what to do with the oil after we built everything. Then for some stupid reason we left and let them control everything and now you have Saudi attempting to screw us. Hell, there would be no Saudi Kingdom if it were not for the U.S. so screw them all!!



posted on Sep, 19 2007 @ 07:27 PM
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reply to post by Nyrossius Maxim
 


Everyone should familarize themselves with who the fed really is and what they do. It is a travesty.

The only way out unfortunately is to make the dollar pratically worthless. Then we pay everyone off with worthless dollars and get rid of our debt. The rest of the world owms much of our debt, so screw them. They should have known better than to take our worthless dollars.

we who live in the US and own assets will be ok. Those who hate the system and are in cd's and bonds will probably take a hammering.



posted on Sep, 19 2007 @ 07:35 PM
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Originally posted by Vitchilo


Saudi Arabia has refused to cut interest rates in lockstep with the US Federal Reserve for the first time, signalling that the oil-rich Gulf kingdom is preparing to break the dollar currency peg in a move that risks setting off a stampede out of the dollar across the Middle East.




on the thin surface of things, what the paragraph shouts out to us
seems the obvious way things will play out...

but how does the Saudi's keeping their higher paying interest rate
translate into 'doom' for the US petro-dollar??

no sensible cental banks or int'l investors are going to dump their dollars
that are returning the now lower 4.75%, for the Saudi currency thats marked at a higher return rate (reflecting the .5% that they did not discount in tandem with the U.S. Federal Reserve cut).

There's way too much concern for the House of Saud continued ruling
status...the world is anticipating both the Persians, the Shia & Sunni to
form their own coalitin, & get rid of those U.S.A. puppets...

the Iran+Iraq caliphate is a destiny thing, it just may take longer than expected to happen...


[edit on 19-9-2007 by St Udio]



posted on Sep, 19 2007 @ 07:44 PM
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Well Saudis are Sunnis I wonder if they will take side with their own rather than following the US.

China maybe offering better and sweater deals after all China will surpass US on oil consumption eventually.



posted on Sep, 19 2007 @ 07:46 PM
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perhaps this is another step towards the Amero?

and here is another sentence, in case i get hit for a quick response.



posted on Sep, 19 2007 @ 08:16 PM
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Originally posted by 4thDoctorWhoFan
I say screw Saudi and lets get back what belongs to the U.S.!
They were just a bunch of nomads without a 'real' country before the oil and they had no idea what was beneath them.

The U.S. found the oil, built the refineries and all the infrastructure that goes along with it. Unfortunately we showed them how to extract the oil and taught them how and what to do with the oil after we built everything. Then for some stupid reason we left and let them control everything and now you have Saudi attempting to screw us. Hell, there would be no Saudi Kingdom if it were not for the U.S. so screw them all!!


Shows what you know.

Saudi Arabia was a country before Oil was discovered. In 1927, the first King of Saudi Arabia was recognised by Britain (who controlled the area) and the State of Suadi Arabia was born.

In was some 10-15 years after the founding of the Kingdom before American oil companies showed up. Oil was discovered in 1938, yet it wasn't until after WW2 that production was in full swing.



posted on Sep, 19 2007 @ 08:32 PM
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Originally posted by scientist
perhaps this is another step towards the Amero?


All of this has the Amero written all over it. We are spectators at an elaborate piece of theatre played by very ugly actors whose purpose is to destroy the US. dollar, the Canadian dollar, and what's left of the Mexican peso so as to bring in "the Amero" as the saviour of us all ... praised be the Fed.



posted on Sep, 20 2007 @ 10:54 AM
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I think the point of Vitchilo's article was the potential for damage to the Dollar and US bond market, as a result of the signal sent by the Saudis refusal to support it's ally's monetary policy. Shortly after the news went mainstream last night, the Dollar got whacked. This morning around 3:00am I watched the USDX print 78.74 before finally catching a bid...then the carnage continued. Historic low is USDX 78.43...currently 78.47


Bernanke sent a clear message to the globe with his -50/50 rate cut. So if the U.S. isn't going to support it's own currency...why should anyone else? At this point it would take a rate hike to rescue the Dollar...anyone think that's gonna happen? Both technically, and fundamentally the Dollar looks like toast.

New low against the Euro, the Canadian Dollar trades on par with the Buck for the first time in over 30yr, and Gold at new 26yr high!


[edit on 20-9-2007 by OBE1]



posted on Sep, 20 2007 @ 11:06 AM
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This story is incredibly important in terms of understanding the full picture of US/ME relations.

It points to the fact that the US dollar and the the world markets ebb and flow with OPEC oil being traded via the dollar. Now that some countries, Iraq specifically, decided to trade oil in the Euro, the US dollar continues to take a hit.

If the Saudis are making a statement like this then it means they could run from the dollar.

This would be BAD.



posted on Sep, 20 2007 @ 11:44 AM
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Today I canadian $ = i US dollar.

Great for canada, bad for us. We will see inflation rising like oil price, which goes only in one direction.



posted on Sep, 20 2007 @ 12:01 PM
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A few weeks back, I posted that Goldman Sachs had started covering their TOCOM short-of-Gold contracts. Goldman Sachs = Hank Paulson = U.S. Treasury = U.S. Admin = U.S. Fed. Anyone think the powers that be, both political & economic didn't know this was coming? If so...I've got some unregulated, priced to model, over-the-counter credit derivatives I'd like to sell ya



posted on Sep, 20 2007 @ 12:12 PM
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Well a possible deal has been reached between Dubai and the Carlyle groups, now already the opposition to it by congress is starting.



posted on Sep, 20 2007 @ 12:34 PM
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Originally posted by netscape
Today I canadian $ = i US dollar.

Great for canada, bad for us. We will see inflation rising like oil price, which goes only in one direction.


netscape, probably a spiritual experience for Canadian exporters with Dollar denominated contracts signed back in the 1st & 2nd quarters for 08 delivery. Lumber exports hit especially hard recently.



posted on Sep, 20 2007 @ 01:53 PM
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Hi, this is my first post and I'm a little nervous so I will keep it short until I feel more confident.

Sabic set to buy GE unit for $11 billion




Saudi Basic Industries Corp., the world's biggest chemical company by market value, is planning to buy the General Electric plastics unit for about $11 billion, according to two people with direct knowledge of the negotiations.


iht.com/articles/2007/05/20/business/bxsabic.php]www.iht.com/articles/2007/05/20/business/bxsabic.php



This transaction has been completed. It's a done deal.
I live in the city where it took place and I want to move because my city, state and country has sold out!

Pittsfield has a population of 48,000 depending on which report you read. GE has been the number 1 employer for generations. At one time, nearly everyone who lives here worked for GE. The people of Pittsfield are elated about this sale because so far, Sabic has decided to stay here.

I want them to go home!
I'm very worried, am I over-reacting?

Thank you.

www.compositesworld.com...
rawstory.com...



posted on Sep, 20 2007 @ 01:58 PM
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Awww...(censorable word I can't post on ATS), this is the first time I've heard rumblings of a dollar collapse on a mainstream news source. It must be pretty serious.

On the flip side, Saudi Arabia HAD BETTER not drop us now, if they do, we won't be there to defend them when Iran fans out across the Middle East following a Iraq withdrawal.



posted on Sep, 20 2007 @ 02:06 PM
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I say, hike those rates and let those lending companies fold like card tables. Those dumbasses stabbed a good chunk of the world economy in the back with their shady practices, I say let 'em fry.




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