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U.S. has plundered world wealth with dlr -China paper

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posted on Oct, 24 2008 @ 01:19 AM
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U.S. has plundered world wealth with dlr -China paper


www.reuters.com

The United States has plundered global wealth by exploiting the dollar's dominance, and the world urgently needs other currencies to take its place, a leading Chinese state newspaper said on Friday.

The front-page commentary in the overseas edition of the People's Daily said that Asian and European countries should banish the U.S. dollar from their direct trade relations for a start, relying only on their own currencies.

(visit the link for the full news article)




posted on Oct, 24 2008 @ 01:19 AM
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"The grim reality has led people, amidst the panic, to realise that the United States has used the U.S. dollar's hegemony to plunder the world's wealth," said the commentator, Shi Jianxun, a professor at Shanghai's Tongji University.

Shi, who has before been strident in his criticism of the U.S., said other countries had lost vast amounts of wealth because of the financial crisis, while Washington's sole concern had been protecting its own interests.

"The U.S. dollar is losing people's confidence. The world, acting democratically and lawfully through a global financial organisation, urgently needs to change the international monetary system based on U.S. global economic leadership and U.S. dollar dominance," he wrote.


Tonight, futures and Asian markets are taking a BIG hit. News that T-Bills may not even be a safe investment. Uncertainty about the ability of either presidential candidate to make US banking honest and transparent.

Can't say I blame them.

So when the rest of the world starts dumping the $$ and here at home, people start liquidating all stocks and bonds just to make sure they have enough money to survive through the rest of this crisis, you can look back to the Global Meltdown board and say, yes, you were warned.

The only question left after that is... Did you listen?

www.reuters.com
(visit the link for the full news article)



posted on Oct, 24 2008 @ 01:34 AM
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Yeah China, dump the US dollar already. The first to dump it will make the more money and you will cripple your enemies, Japan and the US... do it.

The faster it collapse, the faster we can have a new world order!


NIKKEI down 9.6%
DOW futures down -345...

It's gonna be interesting.



posted on Oct, 24 2008 @ 01:38 AM
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reply to post by Vitchilo
 


Like a dead cat bouncing. How many bounces are necessary? Down some stairs and into a creek?



posted on Oct, 24 2008 @ 01:45 AM
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And the Yen is stronger, it broke 94 against USD tonight

Folks, this is NOT GOOD



posted on Oct, 24 2008 @ 01:57 AM
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The People's Daily is the official newspaper of China's ruling Communist Party. The Chinese-language overseas edition is a small circulation offshoot of the main paper.


Why listen to commie turn capitalist?


A meeting between Asian and European leaders, starting on Friday in Beijing, presented the perfect opportunity to begin building a new international financial order, the newspaper said.


Wishful thinking! They want the dollar to be weaken so they can be the one who control the world economy. Wishful thinking indeed.



posted on Oct, 24 2008 @ 02:05 AM
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It's gonna be raping tomorrow unless the FED does something.

I think we'll see the breaker turning on when it plundges 10%.

South Korea halted trading... it plundged 10.57%.

NIKKEI plundged 9.6%.

Futures DOW are down 400 points.

Jakarta and Hang Seng were down more than 7%...

Europe is open for 5 minutes and already plundging 4+%..


It's the same thing that happened two weeks ago. The confidence is not there at all. Maybe it has to do with this dumbass Greenspan saying that the worst is yet to come and that it's armageddon... this son of a biatch is doing it on purpose.... EVERYONE knows that the markets are based on confidence... and he's destroying it.


[edit on 24-10-2008 by Vitchilo]



posted on Oct, 24 2008 @ 02:15 AM
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Just part of the plan to buy up all the stock markets buy this new(criminal) world order fascist socialist government we are starting to have (or all ready have) the start of what we are going to have with Obama.


Every thing that is being bought will be controlled by them.

The internet will soon be censored by computer software that can read your posts(both text, audio and video).

All in the name of tolerance(mind you).

If you do or say something they do not like your kids could be taken by C.P.S. or other services.

If you do or say the wrong things(just like in above top secret mind you) you could get anything from a fine to a jail sentence or worse.

There will be a world welfare state , we each will get an allot check if they think we deserve.

You soon will lose your medical rites to your own body , the doctors will take full control of your rite to make medical decisions for you(under the universal health care plan).

The baker act(like in Florida)will soon become country wide in the
U.S.A. then in the world.

WE SOON WILL ALL BE SLAVES TO
N.W.O.
THE POWER ELITE
THE SOCIALIST STATE
TAKE YOUR PICK



posted on Oct, 24 2008 @ 02:17 AM
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I am pretty sure that the Failure to Deliver on US Treasuries had a lot to do with things too.

Well, looks like we will get to see Hedge Funds sell off like mad today as they try to recover losses.

I wish them lots of luck.

Me... I'm going to get MORE dog & people food to stock up with



posted on Oct, 24 2008 @ 03:12 AM
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Originally posted by pluckynoonez
reply to post by Vitchilo
 


Like a dead cat bouncing. How many bounces are necessary? Down some stairs and into a creek?


Pluky, you always make me laugh and trust me the laughs have been few and far between lately. I am so weary from all of this. I almost believe it just needs to do what it's gonna do. At least that way the average person can back up and regroup. We will know what we are dealing with and can adjust our lives accordingly. As it is right now it's like being told someone is dead over and over again.



posted on Oct, 24 2008 @ 03:19 AM
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Oh HELL...

Japanese Yen just broke 93

Hedge fund sell off coming today

No way around it



posted on Oct, 24 2008 @ 03:44 AM
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Over the last few weeks, has the DOW Futures value been this low before an open???

Was it this low on 10/09 before the open?

We could very well see an awful day for the market.

It would not surprise me too much to see the Dow close below 8000.



posted on Oct, 24 2008 @ 03:46 AM
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reply to post by BluegrassRevolutionary
 


Oh, those of us paying attention are expecting a complete bloodbath today

Expect Circuit breakers to trip

If you play the market, be sure to close out your shorts, otherwise, you might just end up messing in them.



posted on Oct, 24 2008 @ 03:50 AM
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Originally posted by BluegrassRevolutionary
Over the last few weeks, has the DOW Futures value been this low before an open???

Was it this low on 10/09 before the open?


No on both counts. I don't remember the last time the futes were this low.



posted on Oct, 24 2008 @ 03:51 AM
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Oh my GOD!!!

DOW futures down 500!!! Never before seen IMO.

Europe down 6%...

The FED MUST do something otherwise the breaker will turn on for sure.



posted on Oct, 24 2008 @ 03:53 AM
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reply to post by Vitchilo
 


Sorry, but exactly WTF is left for the FED to do????

How many sticksaves are we gonna get to save what we already know is a bankrupt country?

How can we fix it if it keeps being "saved" by fraud???



posted on Oct, 24 2008 @ 03:58 AM
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reply to post by redhatty
 


Cut rates to 0%.

Put a ban on foreclosures for the crisis duration.

Kick Bernanke out of the Treasury? And Bush/Cheney resign.


That would be great.

But I know that all that won't be done. And that the US is bankrupt. And that it was done on purpose. I just can't believe they really done it. I knew they were gonna do that in 2006... but knowing they will do it and seeing do it is another matter.

They already put MILLIONS in the streets and it's only the beginning. That's is SICK and CRIMINAL. Everyone I know are losing their pension funds. Some people deserve their .s cut off (going to jail and death penalty on world TV) for this. (Greenspan, Bernanke, Bush-Cheney, Goldman Sachs executives, Warren Buffet, Rothschilds, Fredie Mac CEOs, some congress and senate people)

[edit on 24-10-2008 by Vitchilo]



posted on Oct, 24 2008 @ 04:00 AM
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reply to post by anachryon
 


I didn't think so. We may just see a huge sell of in the beginning accompanied by a quick recovery and close out the day at 8100 or something.

What exactly is causing today's outlook? Is it the topic of this thread? Or something else?



posted on Oct, 24 2008 @ 04:00 AM
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reply to post by Vitchilo
 


Nope, ain't gonna happen

We are gonna take it up the wazoo and no KY is going to be used.

At least when it gets REALLY BAD next year, we can enjoy the fact that the J6P patrol WILL hunt down the fat cats.

God Bless Fired Up Rednecks!



posted on Oct, 24 2008 @ 04:06 AM
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Relax, everything's gonna be okay.

U.K. GDP Shrinks, First Recession Since 1991 Looms

Whops!



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