WTF Is Wrong With Our Government?

[Michigan Girl]

I just moved to the Saint Joseph area. You coming to visit me?

PS S2M, you're lucky. It's BBD tomorrow in Chicago. My research did find that New Edition just announced they're getting back together, though. Big tour and album coming up. But I sure hope that the McDonald's crowd from Cleveland isn't at the concert I go to.

haha...yep, I'll be there for lunch, have something ready ...and you guys wear some clothes for
the occasion!!

I only know St. Louis and KC...did they invent a map for your town yet?!

[RedWingFan]

We will NOT get out of this. Are you prepared, Im not. I wont be.

Hey, at least they're doing a bang up job after taking over General Motors!

http://www.youtube.com/watch?v=f2_b4V6C4aM

But don't worry if you survive that, he'll always be looking out for you!

http://www.youtube.com/watch?v=jVezWBmDp7U

[slucero]

USD hit a new record low against the AUD today. Another day....another pay cut. What a fucking crock.

get ready for a pay-DIVE if this happens...

http://www.zerohedge.com/article/china- ... d-holdings

China Proposes To Cut Two Thirds Of Its $3 Trillion In USD Holdings

All those who were hoping global stock markets would surge tomorrow based on a ridiculous rumor that China would revalue the CNY by 10% will have to wait. Instead, China has decided to serve the world another surprise. Following last week's announcement by PBoC Governor Zhou (Where's Waldo) Xiaochuan that the country's excessive stockpile of USD reserves has to be urgently diversified, today we get a sense of just how big the upcoming Chinese defection from the "buy US debt" Nash equilibrium will be. Not surprisingly, China appears to be getting ready to cut its USD reserves by roughly the amount of dollars that was recently printed by the Fed, or $2 trilion or so. And to think that this comes just as news that the Japanese pension fund will soon be dumping who knows what. So, once again, how about that "end of QE" again?

From Xinhua:

China's foreign exchange reserves increased by 197.4 billion U.S. dollars in the first three months of this year to 3.04 trillion U.S. dollars by the end of March.

Xia Bin, a member of the monetary policy committee of the central bank, said on Tuesday that 1 trillion U.S. dollars would be sufficient. He added that China should invest its foreign exchange reserves more strategically, using them to acquire resources and technology needed for the real economy.

And as if the public sector making it all too clear what is about to happen was not enough, here is the private one as well:

China should reduce its excessive foreign exchange reserves and further diversify its holdings, Tang Shuangning, chairman of China Everbright Group, said on Saturday.

The amount of foreign exchange reserves should be restricted to between 800 billion to 1.3 trillion U.S. dollars, Tang told a forum in Beijing, saying that the current reserve amount is too high.

Tang's remarks echoed the stance of Zhou Xiaochuan, governor of China's central bank, who said on Monday that China's foreign exchange reserves "exceed our reasonable requirement" and that the government should upgrade and diversify its foreign exchange management using the excessive reserves.

Tang also said that China should further diversify its foreign exchange holdings. He suggested five channels for using the reserves, including replenishing state-owned capital in key sectors and enterprises, purchasing strategic resources, expanding overseas investment, issuing foreign bonds and improving national welfare in areas like education and health.

However, these strategies can only treat the symptoms but not the root cause, he said, noting that the key is to reform the mechanism of how the reserves are generated and managed.

The last sentence says it all. While China is certainly tired of recycling US Dollars, it still has no viable alternative, especially as long as its own currency is relegated to the C-grade of not even SDR-backing currencies. But that will all change very soon. Once the push for broad Chinese currency acceptance is in play, the CNY and the USD will be unpegged, promptly followed by China dumping the bulk of its USD exposure, and also sending the world a message that US debt is no longer a viable investment opportunity. In fact, we are confident that the reval is a likely a key preceding step to any strategic decision vis-a-vis US FX exposure (read bond purchasing/selling intentions). As such, all those Americans pushing China to revalue, may want to consider that such an action could well guarantee hyperinflation, once the Fed is stuck as being the only buyer of US debt.

This should make life interesting for those who decipher Bernanke's moves... The PRC dumping 2/3 of its US currency holdings combined with two years of the Fed pumping money into the ailing economy will likely cut the value of the dollar to .25 cents.

Bernanke must know this.. previously he (and Geithner) was an advocate for China revaluing. If he still advocates China revaluing, that position alone should speak volumes about his (and the Fed's) real endgame....

[S2M]

Bernanke and Soros wish to collapse the U.S. economy.....The 'spooky dude' wants one world currency, one world government....don't you watch Glenn Beck?

[slucero]

Bernanke and Soros wish to collapse the U.S. economy.....The 'spooky dude' wants one world currency, one world government....don't you watch Glenn Beck?

No... I read & figure this shit out for myself...

The PRC isn't gonna do this overnight.. but as the dollar falls they are gonna get more ancy about holding so many UST's... they know the signal they'd send if they started dumping out right... the fact that they are openly talking about it to the media is a "smoke signal" of sorts to Washington...

Dollar is closing in on 70 this week.... gonna be a nice ride into inflation-land as the dollar falls...

[S2M]

Bernanke and Soros wish to collapse the U.S. economy.....The 'spooky dude' wants one world currency, one world government....don't you watch Glenn Beck?

No... I read & figure this shit out for myself...


Dollar is closing in on 70 this week.... gonna be a nice ride into inflation-land as the dollar falls...

Hmmm...so what difference does it make which brand of media one subscribes to? Fishwrap, blogs, Glenn Beck, word of mouth....all the same.

I could say the same thing. 'I listened to Glenn Beck and figured shit out for myself' See how that sounds the same? Point is, there comes a point where you have to trust the sources....You trust what you read, and I trust what I see and hear. Glenn beck, although most claim he is a conspiracy nut, has a proven track record....

When you get a bit of free time, watch 'Its a Wonderful Life'. We are living that right now.

[slucero]

Bernanke and Soros wish to collapse the U.S. economy.....The 'spooky dude' wants one world currency, one world government....don't you watch Glenn Beck?

No... I read & figure this shit out for myself...


Dollar is closing in on 70 this week.... gonna be a nice ride into inflation-land as the dollar falls...

Hmmm...so what difference does it make which brand of media one subscribes to? Fishwrap, blogs, Glenn Beck, word of mouth....all the same.

I could say the same thing. 'I listened to Glenn Beck and figured shit out for myself' See how that sounds the same? Point is, there comes a point where you have to trust the sources....You trust what you read, and I trust what I see and hear. Glenn beck, although most claim he is a conspiracy nut, has a proven track record....

When you get a bit of free time, watch 'Its a Wonderful Life'. We are living that right now.

I really don't watch television... I'll admit I've I've watched Beck a few times... Maddow and Olberman too... I find all of them shills selling advertising...

I'm more inclined to trust, verify and analyze the DATA... not the sources... we've all seen what the sources (like the government) do with the data... that's why a fella like John Williams at Shadow Stats, using the same data no less, comes up with inflation, unemployment and GDP numbers that make smart people go "hmmm"... while the governments numbers are designed to make some people go watch "It's a Wonderful Life!"....

[S2M]

You say you like to read....well, if that is true, hunt down these 2 books.





BTW, 'government statistics' didn't make me watch 'IaWL'....it just makes sense.

[slucero]

Reforming/changing/fixing either (or both) parties should start with what influences them.. and money is at the root of all of it...


This book would be a better starting point...

[S2M]

I know all about the FED, and Ben Bernanke.....but I will check that out. Thank you....

[slucero]

I know all about the FED, and Ben Bernanke.....but I will check that out. Thank you....

I imagine you'll have a more enlightened perspective upon reading hits...

[S2M]

I know all about the FED, and Ben Bernanke.....but I will check that out. Thank you....

I imagine you'll have a more enlightened perspective upon reading hits...

Does it give any more information than this 30-minute video?

http://www.youtube.com/watch?v=ZPWH5TlbloU

[slucero]

I know all about the FED, and Ben Bernanke.....but I will check that out. Thank you....

I imagine you'll have a more enlightened perspective upon reading hits...

Does it give any more information than this 30-minute video?

http://www.youtube.com/watch?v=ZPWH5TlbloU

I've seen that video... while it covers some of the premise, the book is far more in-depth.. It's a bit like watching a Harry Potter movie then asking if the book is better.... of course the book is better..

If you think you are going to get the real premise of a 600 page book by watching a 30 minute video... your comprehension of what you think you know about the Federal Reserve and what it really is may not be the same...

[S2M]

I have, however, read this book:

[slucero]

I have, however, read this book:

I'm just starting that book.. how is it?

[S2M]

I have, however, read this book:

I'm just starting that book.. how is it?

It's not bad. A good insight into how these unelected officials tweak, and manipulate interest rates, inflation, and basically put the country in recessions on purpose....I liked it a lot.