Collapse of Western Economy. (part 6.) Bashing Bernanke.

TELEGRAPH
September 12, 2008.

Saudi Arabia has refused to cut interest rates in lockstep with the US Federal Reserve for the first time, signalling that the oil-rich Gulf kingdom is preparing to break the dollar currency peg in a move that risks setting off a stampede out of the dollar across the Middle East.

"This is a very dangerous situation for the dollar," said Hans Redeker, currency chief at BNP Paribas.

"Saudi Arabia has $800bn (£400bn) in their future generation fund, and the entire region has $3,500bn under management. They face an inflationary threat and do not want to import an interest rate policy set for the recessionary conditions in the United States," he said.

The Saudi central bank said today that it would take "appropriate measures" to halt huge capital inflows into the country, but analysts say this policy is unsustainable and will inevitably lead to the collapse of the dollar peg.

As a close ally of the US, Riyadh has so far tried to stick to the peg, but the link is now destabilising its own economy.

Source:
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/19/bcnsaudi119...

__________________________________
TELEGRAPH
June 19, 2008.

The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks.

"A very nasty period is soon to be upon us - be prepared," said Bob Janjuah, the bank's credit strategist.

A report by the bank's research team warns that the S&P 500 index of Wall Street equities is likely to fall by more than 300 points to around 1050 by September as "all the chickens come home to roost" from the excesses of the global boom, with contagion spreading across Europe and emerging markets.

Such a slide on world bourses would amount to one of the worst bear markets over the last century.

Source:
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/18/cnrbs118.xml




The American National Debt has continued to increase an average of
$1.93 billion per day since September 28, 2007.

The national dept will exceed 10 trillion dollars within 2008.


In the 1990s $2.8 trillion of new debt was created; more than created in the nation's entire history prior to 1990.

In the 4 years 1997-2001 total federal debt increased $438 billion,
a period when politicians bragged about a $557 billion surplus.
That's a $1 Trillion creditability gap.
(Some might suggest Enron and others learned reporting gimmickry from government practices)

An additional $2.8 trillion of debt was added in 2002-2007.

Source:
http://home.att.net/~mwhodges/debt.htm

Category:

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Tags:

• Collapse
• of
• Western
• Economy.
• (part
• 6.)
• world
• economy
• dollar
• collapse
• ron
• paul
• stock
• market

[smileychirk]

Why isn't this guy President ???

[DisciplineTheSimian]

Why? Because he makes sense and the alphabet news channels demonize him. He is my congressman, noone ever runs against him around here. Look at old films of him, he has been saying the same truth for 25 years.

[nijevazno99]

@smileychirk Israeli lobby

[MatthewDZak]

Donate to Ron Paul's campaign May 5th!!! Ron Paul money bomb! May 5th. :)

[GabeT322]

@smileychirk  Because socialist Zionist banker whores control our minds through the tainted media... or the alphabet news channels as the guy says above me.

[tipofmytongue1024]

What we saw in 2008 is only a hiccup. We'll see in the future how it will all pan out.

[redcorona14]

@Goldensilverman The only way that the Spanish Empire could have inflated their gold currency is by mining or capturing excessive amounts of gold.

How else does inflation occur besides inflating the money supply?

Next issue. Central banking is tyranny. Anyone who cannot grasp that simple concept is living in DisneyLand.

Private banks cause crashes to, it was the private banking cartel, not Jackson, that destroyed the economy after he ended the 2nd national.

What say you now?

[teto2001]

Big difference between him and Bush...

[Goldensilverman]

I would like to point out a few things. 1)When Andrew Jackson abolished the federal reserve he pretty much destroyed the economy and sent the country in an economic panic. The fed is here to help stabilize the economy. Without it we would be subject to VERY extreme boom-bust cycles. 2)Hard currency does NOT prevent inflation. Take a historical perspective. The Spanish Empire used hard gold currency and their money became over inflated. Any kind of currency can become inflated, even gold.

[cds162]

2012 is comming..

if not ron paul...

then some who thinks as he does

this is not a left/right issue

this is about saving our country and our selves!

[1KuanTi]

Let close the FED, we need to gather people to start demonstrations, the number wil grow.

[izacsk8s3]

OBAMADECEPTION

watch this on the youtube

NOW