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Thursday, November 29th, 2007
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Bet your bottom dollar tensions will follow - Dollar could drop 90% in value - Bank of England

By J A Blacker, Science Correspondent
RINF Alternative News

The Dollar, if the Bank of England is to be believed, could lose 90% of its 2002 value within three years, one pundit thinks it could be worse and even the US top brass are bracing themselves for a real cropper.

40 Billion of sub prime debt has thus far been written off costing a 30% drop in the value of the Dollar, imagine how it will plummet when all 150 billion is written off, and that is the best possible outcome.

If the Bank of England’s 200 billion sub prime estimate is accurate, 30% v 40 Billion,  ? % v 200 Billion?,  and the Bank of England could be as much as 100 Billion out, one annalist has calculated the unrecoverable sub prime debt to be written off could be 300 Billion.

What ever you do, ditch the Dirty Dollar fast & buy Euros, Yen or Swiss Dollar  -  have tin hats at the  ready folks because the whole lot is about to tumble as the US dollar is a reserve currency.

http://mparent7777-2.blogspot.com/2007/11/bet-your-bottom-dollar-tensions-will.html

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This entry was posted on Thursday, November 29th, 2007 at 12:55 am and is filed under Breaking News, Business News, General . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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