Posted on 07/27/2009 11:36:55 PM PDT by FARS
US State Dept has advised embassies worldwide to stock up on a year's worth of the local currency in anticipation of collapse of the US dollar. Look for a temporary banking shutdown timed for around September 2009. As under Roosevelt, some banks won't reopen. 96% of bank reserves are currently held with the Federal Reserve who tells the banks not to loan the money, but rather to save it for further banking acquisition and consolidation. Chapman foresees a bank holiday lasting 4-5 days. Chapman thinks this first bank holiday presages a much more significant bank holiday months to years later which will involve simultaneous devaluations of multiple currencies as well as other significant changes in the banking system.
(Excerpt) Read more at antimullah.com ...
http://www.fxstreet.com/technical/forex-strategy/currency-trading-majors-pairs/2009-07-27.html
No idea. bearish Mood? Or someone is dumping?
I’m not worried, The NYT made a profit last quarter. If the Grey Lady can do that, our economy can recover from anything, even The One.
That was in the 20's, during the Weimar Republic years. Hitler didn't assume power until 1933.
TANKS,ya’ll,,,
FWIW : We passed through an area yesterday and saw where
about a dozen houses had stood 2? weeks ago,,,(brick),,,
Nice houses,,,
O’Bammy voters had stripped them of copper/etc. and the
banks just had to Eat It!,,,
How many times does this happen ALL over the country ?...
bookmark
Nagonna happen, friend! They need US as a willing-worker class!
They'll get bullets instead ............... FRegards
This kind of rumor spreading is not helpful or good. We have enough economic problems without folks trying to spread panic.
IMHO.
...various sources...some sources...
Like who? Speculators who have taken a position against the dollar? Need more info.
yo! where's the "vanity" disclaimer?
I was thinking October. A more tradition month for a depression to start.
The Feds have closed some 58 banks sofar this year and will close another 30-40 or so before year end. This will dryout a system tha thas too many banks in it already.
The closed an additional 7 last week http://www.fdic.gov/bank/individual/failed/banklist.html shall we assume some 5 more this week?
I think that there will be another dip on Wall Street later this year, but we will survive this and have a great outlook for 2010.
However, the original article in this thread is Bravo Sierra.
Thought maybe some positive earnings reports would be good for a few select plays, but not much more. Boy was I wrong! Now, having largely missed the run from 8200-9000, and with the Dow losing steam at 9000, my gut tells me to sit and watch until signs of increasing upside momentum kick back in.
What's the logic behind your prediction of near-term Dow 10,000? What indicators, news, charts are you looking at? I like hearing the methodologies of other players -- always something to learn, or to consider.
The federal reserve is neither federal nor a reserve. THEY DON'T HOLD RESERVES. When necessary they LOAN money to banks, they PRINT money for the treasury, and they MAKE money on the sell of treasuries but THEY ARE NOT A RESERVE!!!!!!
I get so tired of people being fooled by this institution! It's just a name to make you feel better. It IS NOT FEDERAL AND IT IS NOT A RESERVE.
That article was originally sourced from the World Socialist Web Site. Hmmm.
The language is Japanese & the translation appears to be accurate. What was the source of the Japanese article?
Common sense told me this was happening in Oct. I was a month off.
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