Inflation? Pfft. The Peso Dollar kicks ass.
Published by Human Head
on Tuesday, September 18, 2007 at 7:20 PM.
“Of all the contrivances for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money.” Daniel Webster
A longish article by Mike Whitney before the Fed came down with todays "surprise" rate cut.
U.S. Banks Brace for Storm Surge as Dollar and Credit System Reel
Post rate cut from Forbes:
The dollar 'screamed lower,' said Briefing.com analysts, 'as the FOMC scared the heck out of those thinning ranks in the dollar recovery camp.' The greenback hit new all time lows against the euro around 1.40 while the pound jumped to more than 2.01.
And from Bloomberg....
Report: Greenspan says euro could replace U.S. dollar as reserve currency of choice
I'll let you all go to town on why this wasn't all over the US media? Extra credit if you feel like taking a stab at what happens when this finally comes to fruition, and make no mistake, it is coming. Greenspan coming out on his media tour in full CYA mode to blame Bush is a very clear signal. The short version?
Clubber Lang said it best...."Pain"
A longish article by Mike Whitney before the Fed came down with todays "surprise" rate cut.
U.S. Banks Brace for Storm Surge as Dollar and Credit System Reel
Post rate cut from Forbes:
The dollar 'screamed lower,' said Briefing.com analysts, 'as the FOMC scared the heck out of those thinning ranks in the dollar recovery camp.' The greenback hit new all time lows against the euro around 1.40 while the pound jumped to more than 2.01.
And from Bloomberg....
The cost of oil used by U.S. refiners averaged $37.48 a barrel in March 1981, according to the Energy Department, or $84.73 in today's dollars. Prices rose from 1979 through 1981 after Iran cut oil exports.
``This is really bullish for crude oil and all real assets in general,'' said Bill O'Grady, director of fundamental futures research at A.G. Edwards & Sons in St. Louis. ``The Fed has made it clear that inflation isn't a big priority, economic growth is. This is bad news for the dollar but good for commodity prices.''
Because surely your wages are keeping pace in our gloriously efficient corporatocracy. And lastly,Report: Greenspan says euro could replace U.S. dollar as reserve currency of choice
I'll let you all go to town on why this wasn't all over the US media? Extra credit if you feel like taking a stab at what happens when this finally comes to fruition, and make no mistake, it is coming. Greenspan coming out on his media tour in full CYA mode to blame Bush is a very clear signal. The short version?
Clubber Lang said it best...."Pain"
