It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Euro's Share In Russian Reserves Overtakes U.S. Dollar

page: 2
6
<< 1   >>

log in

join
share:

posted on May, 19 2009 @ 08:49 PM
link   
Maintaining the $US as the world reserve currency is a bigger issue than most people imagine. In many ways it's the single biggest political issue today.

When the US can no longer just print dollars and pass them off as real currency it's game over for them.

The media hardly touches this issue. Either it's too complex for them to understand properly or it may be one of those times when a blackout really is created on certain stories.

Last year at an OPEC conference, if I remember correctly, mysteriously a microphone was left on with a member of the Saudi royal family hushing someone up who was talking about this issue. A subliminal media plant?

Much of the reason the US went into Iraq was to counter Saddam's noise about moving away from the dollar. Of course he had France, Russia, and China as silent partners in his oil for food program which infuriated the US.

The Chinese recently made an announcement about wanting a new international currency, tellingly.

A problem with the Euro as an alternative is that Europe is not in any great shape these days and probably much worse than the US in the long run. They have the population and the spending but it really looks as if it peaked and is in for a serious contraction.

Russia is in very rough shape economically too.

Still, with the Chinese and Arabs on board to bring the US off it's superior position in the world, they may all be preparing for a major shakeout in which the US goes down really big time and a new financial landscape emerges.

From what I gather China cut off the US credit card recently and the Saudis are saying to Americans "we'll think about it,"

It will all get translated to a reason to wage war in the Middle East quite possibly. Iran is being warmed up as the excuse for it.

Interesting times.


Mike




posted on May, 20 2009 @ 08:07 AM
link   

Originally posted by GreenBicMan
My mistake.. its 8xx% with IRELAND taking the cake



Link


Haha what a complete bogus! our external debt 268% of GDP???, i dont know how CNBC got its figures but on the same source CIA worldFactbook and our own CBS bureau of statistics our public debt [would be plus internal debt!!] is about 283 billion not 2439 trillion? relative to our GDP thats about 43%..[Q4 '08] well below 60%
And yes we still have criteria for Euro countries, so i am not speaking about Bulgaria or Romania[member but not euro currency]look at the countries without the euro, a reason why Iceland wants the currency so bad...

even more strange is that the statistics of the US[and Denmark] on CNBC are the only one of Q3[just before the bailouts], and the others of Q4...Talking about MSM...














[edit on 20-5-2009 by Foppezao]



posted on May, 20 2009 @ 11:27 AM
link   

Originally posted by Foppezao

Originally posted by GreenBicMan
My mistake.. its 8xx% with IRELAND taking the cake



Link


Haha what a complete bogus! our external debt 268% of GDP???, i dont know how CNBC got its figures but on the same source CIA worldFactbook and our own CBS bureau of statistics our public debt [would be plus internal debt!!] is about 283 billion not 2439 trillion? relative to our GDP thats about 43%..[Q4 '08] well below 60%
And yes we still have criteria for Euro countries, so i am not speaking about Bulgaria or Romania[member but not euro currency]look at the countries without the euro, a reason why Iceland wants the currency so bad...

even more strange is that the statistics of the US[and Denmark] on CNBC are the only one of Q3[just before the bailouts], and the others of Q4...Talking about MSM...




[edit on 20-5-2009 by Foppezao]


Yeah! those numbers at CNBC cracked me up!


I don't now what they want to say with this?, to calm the US population with false numbers?

American MSM is sometime just hilarious!


I love the Q3 - Q4 as well, I also think they manipulated numbers from different fiscal years!



posted on May, 20 2009 @ 12:29 PM
link   
reply to post by Chevalerous
 


It could be manipulated or something perhaps a little off, but its also just a marker to show where everyone is at.

Dont forget, the USA makes A LOT of money as well, or have the ability to RAISE MORE $$ than most



posted on May, 20 2009 @ 04:15 PM
link   
reply to post by Foppezao
 


No, you misunderstand.

The Debt to GDP ratio is not only GOVERNMENT debt, but also Consumer debt..

This is to say, take the entire debt of the Nation and compare to the entire production of the Nation.. this gives you the National Debt to GDP Ratio.

This is an index used to show the expansion of particular Bubbles within the given economies, for instance, housing.. in Europe it would appear this is the main culprit for the massive public debt to GDP, as cheap credit expanded the credit markets.. essentially what this raw data leaves us with is a clearer understanding as to how or rather why Europe expanded so fast so quickly. In Ireland's case, that roaring Celtic Tiger? Turns out it was just the shadow of a house cat, the entire economy expanded on the notion that income and wealth was present, whereas in fact it was not, and is disappearing at that.

This would obviously leave the entire Credit market open like a bad wound, it's exposure to the slightest shifts in economic activity left Europe precariously on the edge for quite some time. When the Credit Bubble(s) began collapsing European States are being left out in the cold as far as their economies go.. D2GDP shows that Europe cannot sustain a rebound as the rebound will have to come almost entirely from pure capital, not Credit, but with such leverage, Capital is going to be nearly impossible to find.

So, as you see... you simply misunderstood the meaning.



posted on May, 20 2009 @ 04:46 PM
link   

Originally posted by GreenBicMan
reply to post by Chevalerous
 


It could be manipulated or something perhaps a little off, but its also just a marker to show where everyone is at.

Dont forget, the USA makes A LOT of money as well, or have the ability to RAISE MORE $$ than most



"a little bit off"



"Lies, Damn Lies and Statistics."


Yeah but that CNBC crap looks like a total falsification concerning the European Debt GDP %


Last month I checked some numbers of IMF and looked on some graphs at OCDE regarding Debt % per GDP total. And European countries now had in average 50-70% debt/GDP I think. And that was over 10% in some cases of the 60% that is the limit - and those numbers are getting worse every month now, fast!

The numbers was for Q3 2008 just before the stock market crash!

But some were from later as well!

The truth is that most European countries and the USA had very similar numbers when you counted everything together.

But there is two different ways of counting this!

In the Euro-zone many countries have external debt to other EU countries and if you would count the EU as ONE economical ENTITY as the union really is - like your states together - then the numbers are much lower!

The EURO-ZONE is one economy with 500.000.000 people and is the world biggest market and the GDP have passed the USA as number one - 1 year ago!


But as a single country you're still number one!

The USA are leaving out many things/numbers - you're cheating!


And I think many of the countries in the Euro zone have neither your deficit and the negative saving numbers like the US nor the same big consumer credit debt as you have - the American credit debt must be the world's biggest bubble.

You buy everything on your credit cards! - in the Euro zone and in many Asian countries people save more before they buy something, that's our culture.

but we have individual countries that look like piss now & have much worse numbers :

Italy
Britain
Latvia
Ireland
Estonia
Lithuania
Hungary
Austria
Spain

Maybe I forgot a country, but the fact is that the rich European countries and the US had almost the same debt % numbers 2008 - in one way of counting I think - I could remember wrong?

But now it's going downhill very fast each month both for the Euro-zone and the U.S

The numbers for Q2 2009 is going to be an disaster for all of us since the world economy is soo intervined between our countries.

We are in this financial hell together whether we like it or not unfortunately!


[edit on 20-5-2009 by Chevalerous]



posted on May, 20 2009 @ 05:32 PM
link   
reply to post by Rockpuck
 


The figures i got were from government, corporations and private households, those are the debtors included in internal/external debt[public debt in the broad sense of the word]..The figures from CNBC are not only false and misleading but also higly suggestive, the fact that they put the US lowest/last on that list and without the Q4[bailout] results is just hilarious.. The only reason why Europe's recovery might be slower is because of the lack of central authority, but look at Japan, a developmental [central] state which hasn't recoved from their early 90's crisis yet...


[edit on 20-5-2009 by Foppezao]




top topics



 
6
<< 1   >>

log in

join