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"A lot of financial innovation is designed to get around regulation," says Richard Sylla, professor of economics and financial history at NYU's Stern School of Business. "The goal is to make more money, and you can make more money if you don't have to keep capital to back up your investments."
When Bush came into office, a Euro cost 95 cents. Now it costs a $1.50. The Canadian dollar (the Loony) was 70 cents. Now it costs a dollar. Most mainstream economists and pundits will opine that a low dollar is good for American industry, because it will help us sell our goods. That's only true if we're producing things that no one else is -- or producing them better or cheaper -- and we're not.
Also, many foreign exchange rates are being kept artificially low against the dollar. Some, like many of the oil countries, are pegged to the dollar. They're making up for it by raising the price of oil (currently traded in dollars). Others, like the Asian manufacturing countries, are keeping their currency down to retain their edge in selling here, thereby canceling whatever advantage we're supposed to get from declining currency
One way to think of what the administration has done, is as a leveraged buyout. That's when someone buys a company, using the company itself as the collateral for the loan used to purchase it, usually at very high interest, then pays off the interest by cutting the work force and salaries, selling outsets and even breaking up the company.
It's good for the guy who makes the deal, skims the cream off the top and gets rich. (The company that Mitt Romney got rich working for specialized in doing that.) It's good for the lenders, who get a good return (if the buyer is able to squeeze enough money out of his purchase), but it's bad for the work force, bad for the company, and, if no one comes along to replace it, bad for the business as a whole.
We've experienced a leveraged buyout of the national economy.
How will they react when we Inflate away their precious Dollar Reserves. I'm seeing why War's start after Economic problems.
Originally posted by marg6043
The recent event in the global economy has shown its ugly face, the global economy is nothing more than an illusion of prosperity prop by the power of numbers in a physiological scam.
This complex system is run by corruption, deceive and world elites.
Time for people to wake up.
Originally posted by khunmoon
Great topic you bring up there, palehorse.
To me the economy of today seems more like a casino. With hidden rules and a complexitivity for only the controling few to look through.
[edit on 27/1/2008 by khunmoon]
is beyond any understanding ordinaire . But that's what they all, from his old professor to the national bank director, call him, a Genius! None the less.
...the head of the Bank of France that he was a "genius of fraud"
Originally posted by palehorse23
Reserves...that makes me laugh. That word has become a joke with this administration. We have depleted ours and others already. We do not even have the gold to back up our financial commitments and the dollar. We are in a downward spiral with virtually no reversal in sight. The next pres. isn't going to be able to bring us out of it either. The elite will not allow it to happen. This is what they want. They would never allow a person in office that would go against there wishes. Watch and see what happens. Mark my words. If i end up being wrong, I will gladly accept any "I told you soos" from opposing views.
gold price-manipulation by feds