Posted on 10/06/2009 10:32:16 AM PDT by djf
ISTANBUL — The United Nations called on Tuesday for a new global reserve currency to end dollar supremacy which has allowed the United States the "privilege" of building a huge trade deficit.
"Important progress in managing imbalances can be made by reducing the reserve currency country?s 'privilege' to run external deficits in order to provide international liquidity," UN undersecretary-general for economic and social affairs, Sha Zukang, said.
(Excerpt) Read more at google.com ...
>> IF &etc THEN it might be a good investment for foreigners to buy Tbills and bonds. BUT...
I hear you, FRiend... yet Treasuries, particulary short term treasuries, are oversubscribed.
Why is that?
F&^% the UN.
Not sure.
But is not the Federal reserve able to bid it up to wherever they want? They’ve been doing alot of the buying...
>> [The Fed has] been doing alot of the buying...
Not at the short end. *That* money is coming from somewhere else. Where? And why?
I don’t know much about the intricacies and shenanigans they are up to.
Remember, these guys can make David Copperfield look like a piker!!
I just try to watch the fundamentals.
>> I just try to watch the fundamentals.
Not meaning to belabor the point, but what happens with Treasuries IS one of the “fundamentals”, IMO.
Like you, I’m just trying to make sense of it all. Without much success, I’m sorry to report.
I'd go one further, it is a war on the sovereignty of America. An attempt to pull us into a one world governance.
The cabal(s) that are behind all this known damn well that our nations constitution MUST be destroyed through any means possible if a one world currency and governance is to take place.
In short, American nationalism and world dominance must be destroyed.
Well, any time they sell a Treasury, doesn’t that basically mean they spent more than they had and have to fund the shortfall?
That’s about as fundamental as I can see it, and it’s not good not matter what the rate is...
But maybe I’m wrong, wouldn’t be the first time!
>> That’s about as fundamental as I can see it, and it’s not good not matter what the rate is...
There are two somewhat separate issues here.
One, “Do investors view treasuries as a safe investment? If so, why?”. My posts have been speaking to only this issue.
Two, “Does the US borrow too damn much money?” I would have to agree with you and say, “Hell YES it borrows too much”.
If we defund the UN, and stop all aid to other countries immediately (military or otherwise) we ought to be able to fix our financial problems pretty quickly.
Well, except for that health care thingie...
Congress is hell bent on giving away money it doesn’t even have.
That’s what gets them re-elected...
I’ll third it.
That’s true...but...if we suddenly stopped giving dollars to the UN, they’d probably change their tune.
Why? We are on the same level with them now. OStalin is planning to remake the USA in the image of old Soviet Union, Cuba, present North Korea and Venezuela.
I think congress needs to get a little more deadlocked about payments to the UN.
And they are doing this because they know we have a loser and a wimp for a prez.
Get the liberals out of power NOW!!!
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