Money
« Previous EntriesSinking dollar alters the game in 2008
Friday, January 4th, 2008Templewest Almost every news network did a story in 2007 about foreigners coming to the states to shop and invest, even in real estate. What compelled this behavior? Among the many troubles confounding Fed Chairman Ben Bernanke during this credit crisis is the steady decline of the U.S. dollar. He and the Fed have reduced the federal funds target rate, which now stands at 4.25, attempting to stimulate lending ...
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Un-American Lockheed Martin and Treason for Profit
Thursday, January 3rd, 2008As more news about Benazir Bhutto's assassination comes out, clearly implicating the Musharraff regime in the murder, our tax dollars are going toward paying Lockheed Martin for weapons to Pakistan. "Washington, Jan 1 - The US Defence Department has awarded a $498.2 million contract to Lockheed Martin Corp to supply 18 F-16 aircraft to Pakistan just ten days after the US Congress slapped restrictions on ...
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Dollar declines as traders wrangle over Fed rate cuts
Monday, December 24th, 2007The US dollar declined against the euro and the pound on Friday as traders continued to hotly debate whether the US Federal Reserve would continue cutting interest rates amid economic uncertainty. The euro was swapping hands at US$1.4378 in late afternoon trading in New York, up from US$1.4320 late on Thursday. The British pound was quoted at US$1.9841, up from US$1.9830 a day earlier. Although the pound gained ground it has dropped below ...
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The U.S. dollar is bouncing off of 30 year lows
Friday, December 21st, 2007The U.S. dollar index goes all the way back to March of 1973. However this 30 year chart of the index shows how the U.S. dollar is holding up against a basket of currencies. It's weighted against 6 currencies (Euro, Japanese yen, Great British pound, Canadian dollar, Swedish krona and Swiss franc). Click on the chart below to see an enlarged version of it. You'll find that the index has bounced ...
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Morgan Stanley Bank secures $5bn China bailout
Thursday, December 20th, 2007Belly Up Banks, ready to go under? Only 40 Billion of the 150 - 300 Billions Sub prime debts has thus far been written off, what will happen when the other 110 - 260 Billion is written off? NOTE: Sub prime debt - The BUSH crooks say the figure is 150 Billion, the bank of England says it is 200 Billion and we have conservative punters saying it is more likely 300 ...
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The Dollar Fallback
Sunday, December 16th, 2007Until late January this year, the hosiery town of Tirupur had been in a state of euphoria. Within days, its glee turned into a grimace. Until late January this year, the hosiery town of Tirupur had been in a state of euphoria. Within days, its glee turned into a grimace. In February, the US dollar depreciated against the Indian rupee. The rupee value of the dollar slipped south from Rs 46 ...
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Is the dollar leading us into a depression?
Tuesday, December 4th, 2007A fallen greenback could mean economic turmoil, or it could trigger an economic crisis. Economists are having trouble predicting the outcome because investors are not behaving rationallyBy J. Bradford DeLong The falling US dollar has emerged as a source of profound global macro-economic distress. The question now is how bad that distress will become. Is the world economy at risk? There are two possibilities. If global savers and investors expect the ...
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Websites sell secret bank data and PINs
Monday, December 3rd, 2007Alexi Mostrous and Dominic Kennedy Security breaches that are allowing the financial details of tens of thousands of Britons to be sold on the internet are to be investigated by the country’s information watchdog. Without paying a single penny, The Times downloaded banking information belonging to 32 people, including a High Court deputy judge and a managing director. The private account numbers, PINs and security codes were offered ...
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Judge: Bank debt collectors behaved like robbers
Friday, November 30th, 2007Ashling O’Connor When Tapan Bose fell behind on his car loan repayments to the largest commercial bank in India he could not have known that it would leave his friend’s son requiring 12 stitches in his battered skull. Mr Bose escaped a vicious beating by a gang of the country’s notorious debt collectors because he was inside a club when they came calling for 34,000 rupees (£400) owed ...
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Banks scourged by falling dollar
Friday, November 30th, 2007The supply of dollars is now so profuse that it is always higher than the banks’ purchasing capacity. Banks now buy dollars in dribs and drabs, as they do not have enough VND. The volume of dollars flowing into Eximbank these days is 30% higher than the same period last year. In the first 10 months of the year, some US$2bil went in. In the last few days, the bank has ...
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Bet your bottom dollar tensions will follow
Thursday, November 29th, 2007Bet 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 ...
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A Generalized Meltdown of Financial Institutions
Tuesday, November 27th, 2007Reality has finally caught up to the stock market. The American consumer is underwater, the banks are buried in debt, and the housing market is in terminal distress. The Dow is now below its 200-Day Moving Average -- the first big "sell" signal. Anything below 12,500 could trigger program-trading and crash the market. The increased volatility suggests that we are watching a "real time" meltdown. ...
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Time to break free
Saturday, November 24th, 2007The Middle East's oil exporters should end their currencies' peg to the dollar
IN THE past week Iran's president, Mahmoud Ahmadinejad, has damned it as a “worthless piece of paper” and China's premier, Wen Jiabao, has moaned that it is causing his country “big pressure”. The dollar's relentless decline—it hit a new low of $1.49 against the euro ...
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Jim Rogers Urges People to Sell U.S. Dollar Holdings
Sunday, November 18th, 2007Aaron Pan and Paul Gordon Investor Jim Rogers urged people to get out of the dollar and says he expects to be rid of all his U.S. currency assets by summer next year. ''If you have dollars, I urge you to get out,'' Rogers said in an interview from Singapore. He is chairman of New York-based Rogers Holdings, formerly known as Beeland Interests Inc. ''That's not a currency to ...
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Shouting at the Devil
Tuesday, October 30th, 2007By Jason Miller RINF Alternative News “America touts itself as the land of the free, but the number one freedom that you and I have is the freedom to enter into a subservient role in the workplace. Once you exercise this freedom you’ve lost all control over what you do, what is produced, and how it is produced. And in the end, the product doesn’t belong to you. The only ...
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