| View previous topic :: View next topic |
| Author |
Message |
brettbuchanan
Joined: 12 Jun 2001
Posts: 77
|
 Posted: Tue Mar 31, 2009 3:56 pm Post subject: Boggs thinks I'm an idiot. |
 |
|
The basket is calculated by weight. I didn't want to get too specific seeing as how this is a wind-junkie forum. The US Dollar presently is weighted at 44%, the Euro at 35%, Yen 11%, and Pound Sterling 11%. The ruble and yuan are not represented. Neither is gold - but that's a whole other thread.
The Bank for International Settlements, the central bank for central banks, is the biggest behind-the-scenes proponent of a new reserve regime. And it is coming. Just like the Federal Reserve Act usurped the people's right to sound currency the BIS/IMF will now consolidate central banking authority under one roof.
| Quote: | Composition of basket (value of 1 XDR)
Period USD EUR JPY GBP
1999–2000 0.5820 (39%) 0.3519 (32%) 27.2 (18%) 0.1050 (11%)
2001–2005 0.5770 (45%) 0.4260 (29%) 21.0 (15%) 0.0984 (11%)
2006–2010 0.6320 (44%) 0.4100 (34%) 18.4 (11%) 0.0903 (11%) |
Ask yourself this question. You're a global banker - wouldn't you want the authority to issue currency that was above the law of any national caucus? I certainly would. And that is where we are headed. Go to the CIA World Factbook and look at the composition of US GDP.
| Quote: | agriculture: 1.2%
industry: 19.6%
services: 79.2% (2008 est.) |
80% of US GDP is service sector driven and I would imagine financial services make up the bulk of it. Why do you think the US Treasury is bending over backwards to prop up the few major banks that are the ones clogging up the system? These banks are global in nature, they theoretically drive the world's economies and if the Fed, BIS, and IMF get their way they can use their new global currency regime to monetize losses around the globe more easily, and in their opinion less painfully than under the current system.
Boggs of course will call me a complete idiot. Which I probably am. I'm just trying to sell books here, okay. I'm way more full of shit than Geithner is any day. |
|
| Back to top |
|
 |
brettbuchanan
Joined: 12 Jun 2001
Posts: 77
|
| Posted: Tue Mar 31, 2009 3:59 pm Post subject: Boggs - Missed it. |
|
|
Boggs I missed the "I'm in." at the beginning of your reply.
Waddel or Jalama? I'm in Seal Beach so I've got to go with Jalama. Or San Carlos - now you're talking... |
|
| Back to top |
|
|
boggsman1
Joined: 24 Jun 2002
Posts: 9120
Location: at a computer
|
| Posted: Tue Mar 31, 2009 4:07 pm Post subject: |
|
|
| Not at all Brett. I already told you I agree with 95%of your stuff, I read all the posts you linked me to. I just dont think it's very possible for the USA to crater more than the rest of the world. Therefore I think the dolla will still be the reserve currency of the world. Currency market is a market of relativity, and the US is still much more relative than the rest of the world. Go ask China central bank to flip their 1.3TR into Euros, never happen, or Japan. If we fail, which seems real, then your fiction becomes Non-fiction , and you're the next George Orwell. |
|
| Back to top |
|
|
brettbuchanan
Joined: 12 Jun 2001
Posts: 77
|
| Posted: Tue Mar 31, 2009 4:22 pm Post subject: Boggs - In jest... |
|
|
My idiot crack was in jest of course. Most people need to meet me face to face to come to that conclusion. I just thought you were ahead of the curve.
I agree with the 'US too big to fail' philosophy. I just think the rest of the world is sick of it and will now step up pressure to extricate themselves from the chains of the dollar. And I think a new currency regime serves the global banks better - from their perspective of course.
It will be very interesting to see what comes out of G20 on the 2nd. |
|
| Back to top |
|
|
MalibuGuru
Joined: 11 Nov 1993
Posts: 9300
|
| Posted: Tue Mar 31, 2009 4:55 pm Post subject: |
|
|
I just read somewhere that 20% of people who live in L.A. are on welfare. Unfortunately that must be included in GDP. Talk about depressing.
Boggs, are you a central coast guy or SF? Jalama has recently been my spot. They used to have wave competitions there. Nowadays, all we can muster is a $ bitchslapping contest? |
|
| Back to top |
|
|
jp5
Joined: 19 May 1998
Posts: 3394
Location: OnUr6
|
| Posted: Tue Mar 31, 2009 4:57 pm Post subject: Re: Boggs thinks I'm an idiot. |
|
|
| brettbuchanan wrote: | | ... I'm way more full of shit than Geithner is any day. |
That's just what we need around here!
Boggs; I heard Mullholland went into the witness protection program. |
|
| Back to top |
|
|
brettbuchanan
Joined: 12 Jun 2001
Posts: 77
|
| Posted: Tue Mar 31, 2009 5:16 pm Post subject: A Dollar Bitchslapping Contest |
|
|
stevenbard wrote -
| Quote: | | Nowadays, all we can muster is a $ bitchslapping contest? |
A Dollar bitchslapping contest. Good one. |
|
| Back to top |
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You can attach files in this forum
You can download files in this forum
|
|
|
Search
Profile
Log in to check your private messages
Register
