Collapse of Western Economy. (part 4.) American's Suffering.

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

Category:

News & Politics

Tags:

• Collapse
• of
• Western
• Economy.
• (part
• 4.)
• world
• economy
• dollar
• collapse
• ron
• paul
• stock
• market

[jessxxy]

@amaqula Your a complete tosser that speaks directly from your arse!

[amaqula]

The West is a Christian construct....not a Muslim or secular one. And without Christianity....the West is caving in ....demographically and financially. It will soon be no more. So...before Islam takes over.....let's have a CATHOLIC STATE folks. This is the true foundation of the West!

[dewman92]

@timesplitters333 Hint: It is going to take a MAJOR event for people having to accept the chip ...It pretty much wont be a choice.

[RiccoStang]

The chip is very small and inserted with a needle.

[timesplitters333]

@RiccoStang the problem is how will they make people accept these chips? you need surgery for that dont you?

[RiccoStang]

@timesplitters333 No, Not yet. Give it a few more years. The chip will contain all personal data needed. No more paper. Do a search for Bio-Chip. GPS, purchasing, medical info, etc. Many religions refer to it as the mark of the devil.

[timesplitters333]

@RiccoStang Chip? We not there yet are we? Not in europe, dont know about America.. please tell me more..

Well i know its a hard battle, and you dont need to leave you country, who will you leave it for? Africa,asia.. no way!

[RiccoStang]

@timesplitters333 I agree too, Only problem is when we are in police state, all registered guns will be collected. Any unregistered guns and you may find your self imprisoned or possibly executed. Best thing would be to move out of the country. Unfortunately we're hated world wide. Unless you can speak another language and hide in another country. That would suck. I say tough it out. They say jump. You say, How high? And everything will be dandy. BTW, Can you insert this chip under your skin?

[amanbansil]

Dont buy what you cant afford

[BatusaiJack]

Ohh my God is this America?