U.S. Dollar Going Down, No Longer World Currency? World Bank President To Make Remarks Tomorrow

reply to post by SLAYER69


that story is classic case of co intel pro

enjoy this vid





[edit on 27-9-2009 by warrenb]

reply to post by warrenb

CNBC/Jim Rickards.

Future of the Dollar
Sept. 25 2009

03:35 of a very informative 06:35 min interview....

Rickards - "What they [federal reserve] really want to do is basically displace the dollar with SDR's.

Link


Inevitable WB....covertly ordained by western CB's


Related: Yikes! On CNBC

reply to post by warrenb


I'll be checking the headlines tomorrow.

I hope your wrong but I do think it's possible. China, Japan ect. have more or less been selling the US goods in return for paper and promises that paper will still be worth something when it matures. Right now it's looks likely that paper is not going to be worth much. If the IMF offers people who hold USD a way out they might just take it. In their view it might be better than the status quo where other nations produce and America prints.

Originally posted by Vitchilo
reply to post by tothetenthpower

 

You know what they will do? Turn those US dollars China holds into IMF bonds. Then the US will have to pay back all the money to the IMF.

Just you watch.

I think it is even worse than that.

The port of Long Beach was given to COSCO, and that is basically
the Communist Chinese government.

The Chinese have asked for assurance of the debt and some ppl
from the US government flew over and offered some parts of the
US as collateral for the debt.

It was rumored Hillary was one of those ppl.

The true state of the economy can be derived by the number of cargo
ships stacked up in Singapore and the Philippines.

At this time it is around 500 ships at each location for a total of
1,000 ships sitting cold iron and carrying no cargo save a few that
have become storage for cars overseas makers cannot sell.

The 1,000 ship ghost fleet of the recession is bigger than the
US and UK fleet combined.

Good Luck to you all !

reply to post by questioningall

Well I do hope nothing happens before I get back from my much earned vacation! I saved up too many of them to go!

Originally posted by Ex_MislTech

Originally posted by Vitchilo
reply to post by tothetenthpower

 

You know what they will do? Turn those US dollars China holds into IMF bonds. Then the US will have to pay back all the money to the IMF.

Just you watch.

I think it is even worse than that.


The true state of the economy can be derived by the number of cargo
ships stacked up in Singapore and the Philippines.

At this time it is around 500 ships at each location for a total of
1,000 ships sitting cold iron and carrying no cargo save a few that
have become storage for cars overseas makers cannot sell.

The 1,000 ship ghost fleet of the recession is bigger than the
US and UK fleet combined.

Good Luck to you all !

The 'ghost fleet' near Singapore. The world's ship owners and government economists would prefer you not to see this symbol of the depths of the plague still crippling the world's economies

The biggest and most secretive gathering of ships in maritime history lies at anchor east of Singapore. Never before photographed, it is bigger than the U.S. and British navies combined but has no crew, no cargo and no destination - and is why your Christmas stocking may be on the light side this year

Ghostships

SINGAPORE — To go out in a small boat along Singapore’s coast now is to feel like a mouse tiptoeing through an endless herd of slumbering elephants.

One of the largest fleets of ships ever gathered idles here just outside one of the world’s busiest ports, marooned by the receding tide of global trade. There may be tentative signs of economic recovery in spots around the globe, but few here.

Hundreds of cargo ships — some up to 300,000 tons, with many weighing more than the entire 130-ship Spanish Armada — seem to perch on top of the water rather than in it, their red rudders and bulbous noses, submerged when the vessels are loaded, sticking a dozen feet out of the water.

So many ships have congregated here — 735, according to AIS Live ship tracking service of Lloyd’s Register-Fairplay in Redhill, Britain — that shipping lines are becoming concerned about near misses and collisions in one of the world’s most congested waterways, the straits that separate Malaysia and Singapore from Indonesia.

The root of the problem lies in an unusually steep slump in global trade, confirmed by trade statistics announced on Tuesday.

www.nytimes.com...


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Yeah man! that's a scary fact, much less cargo is moving over the seas and it's cheaper for them to keep the ships at the ports.

Take a look at the Baltic Dry Index - Freight Rates is going down again! - the market is dead.
investmenttools.com...

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Last week I saw photos from HK and China with hundreds of ships just sitting out there in the water near the ports.

The politicians are just damn liars! - the globalisation as we knew it, is dead in the water.

I wont believe a word they say about recovery until the cargo ships and the Baltic Dry Index is starting to move again - in the right directions!


[edit on 28-9-2009 by Chevalerous]

anybody heard anything???

Chevalrous, that was the same ifo QA sent me last week.
QA my comp still down but wanted to support this thread frm bb.

reply to post by questioningall


Many people are under the impression that the world wants an IMF backed SDR reserve. Which is imo, a good thing for globalisation, perhaps bad for the US, perhaps not.

The IMF is an American institution for one.. it cannot even sell its gold assets without permission from Congress.. ontop of that, what is an SDR?

An SDR is a Special Draw Right. What does that mean? .. the SDR is based (value) on a basket of 4 currencies.

US Dollar
British Pound Sterling
Euro
Yen

The SDR's "value" is the average of the 4 major currencies. The upside to the IMF is that it can print massive amounts of SDR's to loan withoout causing inflation of the SDR, so long as they hold reserves in each currency

So if the SDR became the reserve it would lower the value of the Dollar, increasing US competition for exporting, strengthen the Pound and Yen, causing economic backlash especially for Japan, and neutralize the Euro, which would be relatively unchanged as it already holds status as second world reserve.

It wouldn't be a new currency because without the old currencies it couldn't exist anyways.

Funny this was predicted 6 years ago by this guy:



Watch all 10 short clips from the beginning. Very right on about everything.