On Sun, 03 Apr 2011 16:12:35 -0500, F. George McDuffee
wrote:

On Sun, 3 Apr 2011 15:19:33 -0400, "Tom Gardner" w@w
wrote:

snip
Interesting article! Do you think that the pressure to unseat the
Dollar as the reserve currency will succeed and will it devastate the
US like I think it will?
snip

IMNSHO -- the US dollar does not appear to be under any sort
of massive coordinated attack, but rather is committing
suicide.

The major US creditors such as the PRC, OPEC countries and
Japan are losing massive amounts of purchasing power because
of US dollar devaluation [QE], and will lose even more if
the Dollar loses its reserve status.

To be sure there are most likely groups and individuals
speculating against the US dollar and US denominated
securities by shorting and/or derivatives, as Soros did
against the UK Pound, but as the Godfather says, its
nothing personal, its just business, and while they are
planning to take advantage of the situation, they are not
[directly] causing it to depreciate. Indeed the speculators
have no need to act as Congress and the FRB are doing a very
effective job.

One red flag [as in run, don't walk for the exits] will be a
shift in OPEC oil pricing from US Dollars to Euros and/or
Yuan or a big increase in international counter trade.


-- Unka George (George McDuffee)
..............................
The past is a foreign country;
they do things differently there.
L. P. Hartley (1895-1972), British author.
The Go-Between, Prologue (1953).


Just got done watching 60 Minutes and their article about the banks
committing fraud by forging mortgage documents. Millons of such
documents....

Fascinating..utterly fascinating.

I would bet that there is a number of HUGE class action suits about to
be dropped on those very same banks....

VBG

Maybe some of those people will be given their homes back..free and
clear.

Gunner

--

"You can have peace. Or you can have freedom. Don't ever count on having both at once."
Robert A. Heinlein