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''Fed Has Given Up On The Dollar''

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posted on Mar, 19 2008 @ 10:07 AM
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Expert investor Jim Rogers has slammed the Federal Reserve for destroying the dollar in order to rescue Wall Street, calling it "outrageous" that Ben Bernanke used $230 billion of taxpayers money to bail out Bear Stearns and other banks last week, and urged people to shift their assets completely out of dollars because the Fed had "given up" on the greenback.

"I find it outrageous that the Federal Reserve is just throwing the dollar out of the window - I happen to be an American citizen and they're signaling to the whole world that they have given up on the dollar," said Rogers during an appearance on Bloomberg, adding that everyone should "get out of the dollar because the Fed has given up."

Rogers himself shifted nearly all of his dollar assets into Chinese yuan in October 2007, citing the fact that it was "The official policy of the central bank and the U.S. to debase the currency."


And he is right. The Fed is using tax money in order to avoid getting a domino effect. That's also the reason the UK government decided to buy Northern Rock. If the Fed wouldnt have given money to JP, it would have gone bankrupt, people would massively withdraw money from their accounts and other banks would collapse as well.

It's not over though.




posted on Mar, 19 2008 @ 10:20 AM
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I'm no economist, but even I can tell that this administration cares not about the well-being of the U.S. citizens. With people losing their homes and jobs and becoming homeless, they may well become angry enough that they start riots or even a revolution. THis may well be the tipping point for the average American.
Apparently Bush et al never studied the Great Depression and how insane Hoover's policy of "not interfering with the market" was. History has proven many times that if you push the people too far, they will revolt.

At this point, I think the only thing that will fix the dollar is if we get rid of the Federal Reserve. We need to remove them and cancel all debts to them. Our whole financial system is built on USURY.



posted on Mar, 19 2008 @ 11:00 AM
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Originally posted by forestlady
With people losing their homes and jobs and becoming homeless, they may well become angry enough that they start riots or even a revolution. THis may well be the tipping point for the average American.


It's what they want.

They need an American revolution and an economic depression in order to start WWIII, so that they can fulfill biblical prophecy.

They don't care about money, they care about fulfilling prophecy.



posted on Mar, 19 2008 @ 12:14 PM
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i'm not sure they're sharp enough to realize they're even fulfilling some prophecy, let alone plan for it. like the others are saying, it all comes down to protecting their interests over the people's. if those interests happen to coincide then they can get credit for fixing things. i guarantee you there's not 100% overlap though.



posted on Mar, 19 2008 @ 12:19 PM
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NEW YORK (Reuters) - Investment banks Goldman Sachs Group Inc , Lehman Brothers Holdings Inc and Morgan Stanley are testing a new program that allows investment banks to borrow directly from the Federal Reserve, according to people at the banks.

more stories like thisIn a bid to stabilize jittery markets, the Fed said on Sunday that it would allow investment banks to borrow from its discount window using a wide range of investment-grade securities as collateral.

www.boston.com...
www.boston.com...



posted on Mar, 19 2008 @ 04:10 PM
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Rioting will start only when American Idol is taken off the air.



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