stands alone as one of the most dismal for all categories that they are
reporting. And they do not seem to be selective as it seems everything is
going in the red. And for another long display of red see today's equity
market losers. Google business news or market watch has it all.
And you recall that report a few days ago that the recent U.S. Fed rate cut
would be the last for awhile? We'll Fed governor Poole has just been sent to
the balcony to tell us they where just fun-in with us. It seems he announced
more (maybe) on the way. The announcement is suppose to presto-instant buck
up the mkt and the buck. It's called: talking it up. But they will lower
rates so they hope to get two bangs for the buck.
Now that's like shooting formaldehyde in the veins of the dieing Buck. But i
guess self preservation is not favored by the suicidal. It was also suppose
to reassure the mortgage market that they are not alone as big stupid is
with them... all the way... to the poor house.
It was once known as the 'work house' but they can't call it that any longer
because we also quit making things.
But maybe the most troubling in this report is the 'two' indications the
Chinese are finding it too costly to continue with the dollar. As they are
reporting they intend to find currencies with more stability than the
dollar. Now if you want to know what talkun dirty means. That was it!
The dollar is actually designated as the 'world reserve currency' by the
bankers of the world. It happened when they dumped the Breton-Woods
agreement and then when they closed the gold window (Nixon) no one since
then has mentioned that it nolonger actually has any value. Leave it to
Chinese to turn the table over.
So until recently if the Emperor can walk around naked and not complain why
should we? was the conclusion.
Of course those same world central bankers maybe selling dollars at this
time. As Oscar Wilde said: A true friend stabs you...in the front!
So now when the Chinese give the word they are selling the
$$$ or is it flushing? And the dollar has dropped to 75 plus we can expect
that it will not find a new plateau at this lower level. Because this
announcement will be triggering large sales by a number of other trading
countries who are also holding enormous sums of junk money..the dollar.
Junk money and play money are not the same. play money is used on board
game. Junk money is also from a game... called: con game.
I know this is a dry subject that's popped right out of the toaster (made in
china) and even the thought of selling our dollar can be upsetting for some
real Americans. So maybe you might have to tell yourself you are just
parking those dollars... with lets say... the Canadians, until it gets too
feeling better.
http://www.bloomberg.com/apps
You as an individual can also sell the dollar through a couple of banks in
the U.S. though i can only recall one that deals in small individual
transactions. Or you can use the local bank to arrange it for you at a fee.
Not the advised way to deal with money going south because of the double fee
on a falling currency..
Their maybe someone who gets this msg who will tell us what's the current
method to trade no money for some money.
Though as i recall www.everbank.com is the most frequently used.
And i believe this can be set up so you can access your foreign account
electronically.
But any-way do read the short Bloomberg report.
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