I think Mike is right. It won't be too long before our dream comes true. So, don't give up. We have waited too long. Hang in there and good luck to all of us. Nidya
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12-06-2009, 03:26 PM #211
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06-10-2009, 12:03 PM #212
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U.S. DOLLAR Is DOOMED As Secret Economic War Is Disclosed
Interesting Article,
By Robert Fisk
Tuesday, 6 October 2009
Rex
Iran announced late last month that its foreign currency reserves would henceforth be held in euros rather than dollars.
In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.
Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.
The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years.
The Americans, who are aware the meetings have taken place – although they have not discovered the details – are sure to fight this international cabal which will include hitherto loyal allies Japan and the Gulf Arabs. Against the background to these currency meetings, Sun Bigan, China's former special envoy to the Middle East, has warned there is a risk of deepening divisions between China and the US over influence and oil in the Middle East. "Bilateral quarrels and clashes are unavoidable," he told the Asia and Africa Review. "We cannot lower vigilance against hostility in the Middle East over energy interests and security."
This sounds like a dangerous prediction of a future economic war between the US and China over Middle East oil – yet again turning the region's conflicts into a battle for great power supremacy. China uses more oil incrementally than the US because its growth is less energy efficient. The transitional currency in the move away from dollars, according to Chinese banking sources, may well be gold. An indication of the huge amounts involved can be gained from the wealth of Abu Dhabi, Saudi Arabia, Kuwait and Qatar who together hold an estimated $2.1 trillion in dollar reserves.
The decline of American economic power linked to the current global recession was implicitly acknowledged by the World Bank president Robert Zoellick. "One of the legacies of this crisis may be a recognition of changed economic power relations," he said in Istanbul ahead of meetings this week of the IMF and World Bank. But it is China's extraordinary new financial power – along with past anger among oil-producing and oil-consuming nations at America's power to interfere in the international financial system – which has prompted the latest discussions involving the Gulf states.
Brazil has shown interest in collaborating in non-dollar oil payments, along with India. Indeed, China appears to be the most enthusiastic of all the financial powers involved, not least because of its enormous trade with the Middle East.
China imports 60 per cent of its oil, much of it from the Middle East and Russia. The Chinese have oil production concessions in Iraq – blocked by the US until this year – and since 2008 have held an $8bn agreement with Iran to develop refining capacity and gas resources. China has oil deals in Sudan (where it has substituted for US interests) and has been negotiating for oil concessions with Libya, where all such contracts are joint ventures.
Furthermore, Chinese exports to the region now account for no fewer than 10 per cent of the imports of every country in the Middle East, including a huge range of products from cars to weapon systems, food, clothes, even dolls. In a clear sign of China's growing financial muscle, the president of the European Central Bank, Jean-Claude Trichet, yesterday pleaded with Beijing to let the yuan appreciate against a sliding dollar and, by extension, loosen China's reliance on US monetary policy, to help rebalance the world economy and ease upward pressure on the euro.
Ever since the Bretton Woods agreements – the accords after the Second World War which bequeathed the architecture for the modern international financial system – America's trading partners have been left to cope with the impact of Washington's control and, in more recent years, the hegemony of the dollar as the dominant global reserve currency.
The Chinese believe, for example, that the Americans persuaded Britain to stay out of the euro in order to prevent an earlier move away from the dollar. But Chinese banking sources say their discussions have gone too far to be blocked now. "The Russians will eventually bring in the rouble to the basket of currencies," a prominent Hong Kong broker told The Independent. "The Brits are stuck in the middle and will come into the euro. They have no choice because they won't be able to use the US dollar."
Chinese financial sources believe President Barack Obama is too busy fixing the US economy to concentrate on the extraordinary implications of the transition from the dollar in nine years' time. The current deadline for the currency transition is 2018.
The US discussed the trend briefly at the G20 summit in Pittsburgh; the Chinese Central Bank governor and other officials have been worrying aloud about the dollar for years. Their problem is that much of their national wealth is tied up in dollar assets.
"These plans will change the face of international financial transactions," one Chinese banker said. "America and Britain must be very worried. You will know how worried by the thunder of denials this news will generate."
Iran announced late last month that its foreign currency reserves would henceforth be held in euros rather than dollars. Bankers remember, of course, what happened to the last Middle East oil producer to sell its oil in euros rather than dollars. A few months after Saddam Hussein trumpeted his decision, the Americans and British invaded Iraq.
Success to all, Mike
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20-10-2009, 02:31 AM #213
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Please people get out. there is no more that can be done in the states, its like the titanic hit the iceburg and is sinking fast and instead of getting in the lifeboats yall are talking at each other, the ship is not coming back up people. margarita island is full of opportunity cheapest cost of living in the world, 4 cent a gallon gas free health care no taxes, no hurricanes, all food is organic by law. for more info check out http://www.escapethestates.com I have plenty of references from people I have moved down here, jump on the underground railraod and find out what it is like to live in a country that has alot more freedom then the united states. Put your money in a different currency and get out with it and dont look back. soon the dollar will be worth nothing, then you are stuck like a turd in the toilet. thanks for listening, if you need help contact me, My wife and I have plenty of knowledge about living here on margarita island we moved here 3 years ago with 3 small children and 3 dogs. We had to get our kids away from the toxic foods and envirment. We can help you escape the states no matter what situation you are in, venezuela does not abide with extradition laws to the USA.
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02-12-2009, 07:18 PM #214
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U.S. DOLLAR SINKING TO NEW LOWS With NO END IN SITE
Interesting,
As we see, the dollar is once again in free fall, how low will it go, nobody knows, but the dinar is holding firm, which is good for all of us holding it.
Success to all, Mike
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26-01-2010, 12:22 AM #215
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USD Outlook - by Chris Brueck of GoldCoastAM.com
USD OUTLOOK: Bullish
by Chris Brueck
(January 25, 2010) - The US Dollar has hit five month highs against the Euro, a one month high against the Canadian Dollar, and multi-week highs against both the Australian and New Zealand dollar.
We anticipate a pull-back in the USD over the next week or so, however we currently remain fundamentally bullish on the USD due to global risk aversion. The following points support our stance:
-China has announced that it intends to cool down its economic growth
-U.S. President Obama is aggressively acting on regulating and de-leveraging risky speculative trading among the U.S.'s largest banks.
-The Euro zone is still facing a debt-crisis in Greece's economy, and potentially that of Spain's.
-Global unemployment is not expected to improve through out 2010
With financial risks and aggressive regulatory reform continuing to loom across the globe, institutional traders and banks may have begun to quickly lock in any profits they realized in 2009. In addition, demand for stocks and commodities appears to be on a decline. And demand for U.S. Bonds could increase on the back of any further signs that there is still too much risk in the global economy.
So, investors who were hoping and preying for a quick global economic recovery in 2009 could be in for a sobering surprise in 2010. Again, our stance is that risk aversion is in full swing and fundamental support for the USD is getting stronger.
The current state of the USD could be overbought and a correction could be imminent. I believe that any correction in the USD should be viewed by investors as an opportunity to get long the USD at a better exchange rate, as we anticipate risk aversion to increase into the US Dollar the rest of the year.
Sincerely,
Chris Brueck
Gold Coast Asset Management Inc.Chris Brueck
Gold Coast Asset Management Inc.
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17-03-2010, 03:32 PM #216
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U.S. DOLLAR RISES and THEN FALLS AGAIN
Interesting,
Having watched this closely for years, sure are interesting times when it comes to world economics. Just when you think the dollar was the only currency in trouble, what happens, the Euro and pound get pounded. lol This took the freefall of dollar of the table temporarily, but as we are starting to see now, with Greece, it looks like the whole world is about see pressure on their currencies as things are far worse internationally than it is in U.S., and that thought is scary. lol
Success to all, Mike
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28-03-2010, 09:53 AM #217
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I've not posted here for some time since most of the programs contained herein seemed always suspect and I lost too much before realizing most of all of these programs are a form of gambling anyway.
Having said that above hello again, the point above about the Euro falling because of Greece is interesting. It's not only Greece in trouble, but also Portugal and even Romania looking at a possible bankruptsy (although they have plans for Euro adoption supposedly in 2014) has come in the news lately from what I'm reading here in Sweden. The European Union for some many years has been extremely up-nosed over their Empire and it's superior socialistic scheme and currency over the dollar. Let's be real here, it's basically a Germanic-Frankreich gig anyway. The other countries were along for the ride with their big business and political leaders hoping to sop up some of the gravy. For many of the traditionally family oriented cultures of the Spain, Portugal, Italy and Greece it did nothing but raise inflation of things and make family heads hold down two jobs along with their wives working part time. This is either true or the Mediterranian immigrants to Sweden here lied to me about opportunities being scarce in their former homelands.
My sister-in-law in Spain said some years ago that the European Union formation was necessary to fight against the United States. Fight against the United States, I thought they were all allies ??????????
This world is further away from any true peace and security than at any time before. So it's interesting to watch all the desparate measures being frantically presented forth and implimented as a means of keeping things afloat with spit and bubblegum patches. It would be kool if the Iraqi Dinar currency did RV. I've noticed only by accident a few days ago because of all the election news from Iraq (because I have left off keeping up on this Dinar program which seemed to drag on and on) that only a few days ago the value went to 1169.50 from the couple years of a level plateau of 1170 , only today to be at 1166.40. Hopefully something happens soon. I could use some 'geld' right about now.
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28-03-2010, 01:37 PM #218
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INTERNATIONAL CURRENCY MARKETS ARE In TURMOIL
Agreed,
It is universal, no doubt, but Greece brought these problems out of the dark, now that the spotlight is on the whole currency market, we are seeing just what a mess the whole economy is, and who knows which country will go bankrupt next?
Success to all, Mike
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28-03-2010, 08:47 PM #219
Hi gang. Gee Whiz! Things don't look so great with Al-Malaki behind. I'm wondering what will happen to the Dinar if he doesn't win the election. All the bombings going on too, do make it very dishearting. After waiting all these years and spending so much money buying dinars and dreaming and hoping, this really hurts but I will not give up. Who knows, we may get our dream yet. So hang in there family. Put your trust in the Lord. Good luck to all and God bless. Nidya
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28-03-2010, 11:18 PM #220
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it has been a bumpy ride ,at best,so far...i feel if Al-Maliki would have done more for his people he probably would have won ...instead of losing in a close race...but he didn't..its his own fault..we have to remember,that some laws [oil and gas law] have been in the parliaments hands since February of 2007 and have yet to be voted on...that way at least the people would have money coming in from when the oil companies start to drill..but as usual,he drug his feet....well he learned the hard way that once people are allowed to vote on candidates that you BETTER not fall back on your promises...which is what he did...the people sent a message..now he's crying wolf like a big baby....funny for a guy as corrupt as him to say that the elections were rigged.....lol...GO DINARS..Pat
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