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Sell The Dollar!

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posted on Mar, 21 2009 @ 10:50 AM
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I came across this statement as I was reading this article



www.bloomberg.com...

“Sell the dollar!” said Scott Ainsbury, a portfolio manager who helps manage about $12 billion in currencies at New York-based hedge fund FX Concepts Inc. “This is huge, huge. It’s equivalent to the Plaza accord. This is the last thing they have in the closet, and they used it a bit early.”

....

McCormick said the dollar may fall to $1.40 against the euro.

The purchases will bolster concern that inflation will accelerate as borrowing costs fall, said Jessica Hoversen, a foreign exchange analyst with MF Global Ltd. in Chicago.

‘Dollar Is Done’


Things are getting bad, and they will get worse. It will seem as things are improving for a bit, but all this money that isn't money, but paper and computer electrons, are imploding.

The Fed is fixin' to pump in another trillion $ or so. Question? Didn't the money pumped in on the first two stimuluses, lending windows, emergency funds, etc, come from the Federal Reserve?

I would venture to guess not. It was created in electrons. I bet if we take a close look at money supply, it's being contracted.

You see, actual cash, hard money is being removed and replaced by electrons.

Soon, if they don't like you, they just shut off your account. They already do it, so it's a natural degression.




posted on Mar, 21 2009 @ 01:14 PM
link   

Originally posted by doctordoom
I came across this statement as I was reading this article



www.bloomberg.com...

“Sell the dollar!” said Scott Ainsbury, a portfolio manager who helps manage about $12 billion in currencies at New York-based hedge fund FX Concepts Inc. “This is huge, huge. It’s equivalent to the Plaza accord. This is the last thing they have in the closet, and they used it a bit early.”

....

McCormick said the dollar may fall to $1.40 against the euro.

The purchases will bolster concern that inflation will accelerate as borrowing costs fall, said Jessica Hoversen, a foreign exchange analyst with MF Global Ltd. in Chicago.

‘Dollar Is Done’


Things are getting bad, and they will get worse. It will seem as things are improving for a bit, but all this money that isn't money, but paper and computer electrons, are imploding.



Dollar is done??? OK, Jessica Hoversen, send your dollars to me, reply paid!




The Fed is fixin' to pump in another trillion $ or so.



The Fed is fixin' to pump OUT another T or so. Bernanke and Co. are going to print that money and loan it to the banks at %1 interest then the banks stimulate the economy by loaning it to businesses and consumers at %6. Why can't the fed just loan it to businesses and consumers at %1? Good question I'm glad you asked. You see, there's this group of people called finance industry executives and if they decide that your government sucks, then your government may as well subscibe to Undertaker's Monthly Magazine.




Question? Didn't the money pumped in on the first two stimuluses, lending windows, emergency funds, etc, come from the Federal Reserve?


No, Bush's Feb 08 through Congress was a tax rebate for individuals, that increased the budget deficit by 106 Billion.

Fannie and Freddie were placed under government conservatorship by the Federal Housing Finance Agency in July 08, putting the budget another 238 Billion in the red.

The Fed then announced in Novemeber that it was BUYING Fannie and Freddie debt and assets (1.45 Trillion), but it has in fact only bought about 1/10th so far (107 Billion).

The Fed is supposed to contribute it's profits it makes from loaning money to the banks towards general revenue (normally around 30 Billion ($30,000,000,000) a year.

Obama's Stimulus 09 is a one off tax credit (will reduce gov income by 106 Billion) and $288 billion spending on infrastructure and Aid to States.



I would venture to guess not. It was created in electrons. I bet if we take a close look at money supply, it's being contracted.


It's being expanded.

A lot. To get the banks to start lending, and to deflate the value of the dollar relative to the Japanese Yen in order to reduce US debt to the Japanese and Chinese Central Banks, which hold a lot of USD.


The problem with this is the USD is the currency of refuge for a large part of the world's second, third and fourth tier economies. They're agreed: buy dollars, it's by far and away the most numerous paper currency on the planet (about %80 of all paper money is USD).

Just to give a bit of perspective: the foreign exchange market (forex) turns over 2.1 trillion every twenty four hours Now a lot of that IS electronic money, but it is that money that drives the currently underperforming world economy.



posted on Mar, 21 2009 @ 02:13 PM
link   

Originally posted by undermind
Originally posted by doctordoom
I came across this statement as I was reading this article





The purchases will bolster concern that inflation will accelerate as borrowing costs fall, said Jessica Hoversen, a foreign exchange analyst with MF Global Ltd. in Chicago.

‘Dollar Is Done’


Things are getting bad, and they will get worse. It will seem as things are improving for a bit, but all this money that isn't money, but paper and computer electrons, are imploding.



Dollar is done??? OK, Jessica Hoversen, send your dollars to me, reply paid!




The Fed is fixin' to pump in another trillion $ or so.



The Fed is fixin' to pump OUT another T or so. Bernanke and Co. are going to print that money and loan it to the banks at %1 interest then the banks stimulate the economy by loaning it to businesses and consumers at %6. Why can't the fed just loan it to businesses and consumers at %1? Good question I'm glad you asked. You see, there's this group of people called finance industry executives and if they decide that your government sucks, then your government may as well subscibe to Undertaker's Monthly Magazine.




Question? Didn't the money pumped in on the first two stimuluses, lending windows, emergency funds, etc, come from the Federal Reserve?

Bush's Feb 08 through Congress was a tax rebate for individuals, that increased the budget deficit by 106 Billion.

Fannie and Freddie were placed under government conservatorship by the Federal Housing Finance Agency in July 08, putting the budget another 238 Billion in the red.

The Fed then announced in Novemeber that it was BUYING Fannie and Freddie debt and assets (1.45 Trillion), but it has in fact only bought about 1/10th so far (107 Billion).

The Fed is supposed to contribute it's profits it makes from loaning money to the banks towards general revenue (normally around 30 Billion ($30,000,000,000) a year.

Obama's Stimulus 09 is a one off tax credit (will reduce gov income by 106 Billion) and $288 billion spending on infrastructure and Aid to States.



I would venture to guess not. It was created in electrons. I bet if we take a close look at money supply, it's being contracted.


It's being expanded.

A lot. To get the banks to start lending, and to deflate the value of the dollar relative to the Japanese Yen in order to reduce US debt to the Japanese and Chinese Central Banks, which hold a lot of USD.


The problem with this is the USD is the currency of refuge for a large part of the world's second, third and fourth tier economies. They're agreed: buy dollars, it's by far and away the most numerous paper currency on the planet (about %80 of all paper money is USD).

Just to give a bit of perspective: the foreign exchange market (forex) turns over 2.1 trillion every twenty four hours Now a lot of that IS electronic money, but it is that money that drives the currently underperforming world economy.

Last week the Fed announced it was buying long term treasury securities of 300 Billion over six months. As you might see above, what they announce and what they do can be two different things.

Do people think the government can control the economy? Does the government think the government can control the economy?

[edit on 21-3-2009 by undermind]



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