HOT: Dollar Intervention!!!
Overnight, the U.S. dollar continued to fall against most Asian currencies, prompting a wave of foreign-exchange intervention by central banks in South Korea, Taiwan, the Philippines and Thailand.
Things are really bad when the Philippines is propping up the dollar. The Philippines!
These declines are really hard to stop, near impossible. Is this the the start of the tsunami wall of dollars that could hit markets?
Remember a panic out of the dollar is unlike any other currency panic we have seen. As the defacto international reserve currency (though obviously slipping from that status), every country, every international corporation is holding them--all possible points of panic.
A full fledged world panic out of the dollar will mean huge U.S. inflation, soaring gold and the financial system rocked to the core.
How will the U. S. be able to finance its debt under these conditions. This could be the big one.
Posted by Robert Wenzel at 6:58 AM
3 Comments
3 Comments:
You've got some curious ads on your blog, like the one that hints that "Bernanke's Secret Debt Solution" might...
That's part of the problem, the Fed's secretive ways and their ability to damn near totally control the US economy thru market and money manipulations.
Ben has handed out over 24 TRILLION to his Wall Street bankster buddies and some of that loot made it to overseas banks and families.
Where did that money go to and what it is being used for?
But ask that question and Ben slyly hints that the Fed will wreck the economy if an audit is approved.
That's the good ol' boys at the Fed, stealing with one hand and using the other to hold a gun to our heads.
a link to [i]any[/i] authoritative new source would be appreciated-- no search has brought up ANY verification of your assertion in re 'dollar intervention', including Bloomberg- and Bloomberg is THE most reliable on market info facts.
thanks kindly
In the next post, Wenzel mentions WSJ http://tinyurl.com/y8r5e2n
It's amazing, though, how difficult it is to find.
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