Financial Crisis

[samuibeachcomber]

Did it ever occur that there is also another world outside the USA with it's 300 million people ?...that there are also 700 million people in Europe alone ? and 200 million in Brazil to name another country ?...I could go on.

China is not, thank God and Buddha, dependable on the US alone, although a major market.

I'm not attacking you, I'm simply trying to make a wake-up call here since most Americans always talk about their own situation, and in this case their own, versus China and what China is going to do if the US has no more money or how the US is affecting the manufacturing in China.

LaoPo yes the Chinese will clearly need to find substitute markets to replace the USA, but I question how successful they will be

in penetrating Europe for example when so many Eastern European states can serve equally well as their local

source of cheap labour for manufacturing and the same with Brazil when you have all the neighbouring

South American countries that could provide plentiful cheap labour ( with no language barrier ) ?

Plus I dont think there are many other countries that will ever come close to having the propensity to spend

( with credit ) as the Americans before this crisis so I also question whether sales volumes in the future will be anywhere

near sufficient in other potential markets to fill all those empty factories shown in the video?.

the chinese are sinking their teeth into africa and will extract what they can but yes i dont see alternative markets for china to sell to as everyone is in the same boat,no jobs,no money.Imo the western govts. should not have bailed out anyone and just let everyone learn a valuable lesson.....debt that cannot be repaid is not good,then the recovery would have just happened eventually of its volition.this bailing out is just putting off the inevitable real pain.Many pundits in the USA are trying to tell us debt is good,and that large debt is even better,but i dont think the public are buying this and now everyone who can wants to save,or payoff debt which will slow consumer spending.Its this drive to make people buy what they dont really need that is ruining the planet in my humble iopinion.

[Naam]

and what's wrong with that law Midas? it's a law i would highly appreciate if i were a Massachusetts resident because it reduces the risk that my next door neighbours, who refused a vaccination, are potentially endangering my health and the health of my family. the law is the law. if you don't follow the law you bear the consequences. as simple as that.

With all due respect.............

Not speaking for Midas but there is a lot wrong with a law that forces me to be injected with any substance against my will.

I have raised healthy children who are all now in their 20's & they never received one single vaccination. If they as adults ever feel the need to be vaccinated then that is their decision to do so.

But I like many others have very strong feelings about what goes into my body. That will not be decided by any government.

until reunification West Germany had mandatory vaccination laws for children. nobody complained because there were the odd cases to see what polio or small pocks can do not only to a child but spoil his/her whole life. there is nothing to rave about that all your children are healthy. they (and you) were just lucky. whether one has strong feelings or not is irrelevant. the legislature of the country in which one lives counts. if one does not like it one leaves or violates the laws and face the consequences.

p.s. and don't even think of telling me now how many firearms were bought to fight forceful vaccinations

[lannarebirth]

and what's wrong with that law Midas? it's a law i would highly appreciate if i were a Massachusetts resident because it reduces the risk that my next door neighbours, who refused a vaccination, are potentially endangering my health and the health of my family. the law is the law. if you don't follow the law you bear the consequences. as simple as that.

With all due respect.............

Not speaking for Midas but there is a lot wrong with a law that forces me to be injected with any substance against my will.

I have raised healthy children who are all now in their 20's & they never received one single vaccination. If they as adults ever feel the need to be vaccinated then that is their decision to do so.

But I like many others have very strong feelings about what goes into my body. That will not be decided by any government.

until reunification West Germany had mandatory vaccination laws for children. nobody complained because there were the odd cases to see what polio or small pocks can do not only to a child but spoil his/her whole life. there is nothing to rave about that all your children are healthy. they (and you) were just lucky. whether one has strong feelings or not is irrelevant. the legislature of the country in which one lives counts. if one does not like it one leaves or violates the laws and face the consequences.

p.s. and don't even think of telling me now how many firearms were bought to fight forceful vaccinations

Dr. Naam is correct IMO that we elect representatives and employ health officials to oversee the public welfare and except in cases where there may be increased health risks to a citixzen by following their recommendations (like allergic reactions etc.) one should expect they work with the best of intentions.

Flying's point I think, is that on numerous occasions public officials have failed in their duties to protect the public welfare and in fact have even been shown to collude with corporations to do harm to the public with the intention of profitting from those actions.

While I believe there is a strong case to be made for the public health benefits of vaccinations, the onus is on the government to prove their case and allay the fears of the populace. I'm not sure that can be done as they seem to have such little credibility these days.

[flying]

there is nothing to rave about that all your children are healthy. they (and you) were just lucky. whether one has strong feelings or not is irrelevant. the legislature of the country in which one lives counts. if one does not like it one leaves or violates the laws and face the consequences.

p.s. and don't even think of telling me now how many firearms were bought to fight forceful vaccinations

Perhaps lucky but I have also seen what vaccines have done to some children & it was not for the better.

As for obedience to any legislature of the US I try to comply with the laws. But when it comes to my own body I alone will decide what goes into it.

As for not liking it or leaving? It is they that can leave because I was in fact here before the United States. Three years before to be exact. So were many others who feel the same way.

Whether they decide to collect firearms or bullets is not my choice.

[flying]

Flying's point I think, is that on numerous occasions public officials have failed in their duties to protect the public welfare and in fact have even been shown to collude with corporations to do harm to the public with the intention of profitting from those actions.

While I believe there is a strong case to be made for the public health benefits of vaccinations, the onus is on the government to prove their case and allay the fears of the populace. I'm not sure that can be done as they seem to have such little credibility these days.

Your assumption is correct. They have not only not proven a thing about the H1N1 they have gone so far as to create hysteria about it. There is a reason that there is a claims court filled with cases of vaccines that caused harm to many children.

National Vaccine Injury Compensation Program

That aside a persons body is theirs alone to govern.

Whats next if this should fly?

Edited September 10, 2009 by flying

[samuibeachcomber]

all this talk about vaccinating the population is primarily because the pharma company producing it wants its money back from the govt.for all i know maybe the vaccine g-has a use by date.but has anyone noticed that the press are not reporting or telling if the swine flu virus is on the increase or decrease,i have not seen any updates in the UK press.

personally i would not touch these type of vaccines with abarge pole,as no one knows if they work or what reactions they may have ................they can shove it up their arse.

[lannarebirth]

all this talk about vaccinating the population is primarily because the pharma company producing it wants its money back from the govt.for all i know maybe the vaccine g-has a use by date.but has anyone noticed that the press are not reporting or telling if the swine flu virus is on the increase or decrease,i have not seen any updates in the UK press.

personally i would not touch these type of vaccines with abarge pole,as no one knows if they work or what reactions they may have ................they can shove it up their arse.

Most problems I see, whether they be in the realm of finance, health or agriculture seem to have a single element in common, poorly thought out compensation schemes.

The financial industry derives the highest compensation from creating volatility, which is not in the public interest. agriculture, which is more and more corporatized gets much of its compensation from tax dodges and subsidies, often unrelated to demand. Pharmaceutical companies can hold on to patents long past the time they should by lobbying for minor changes in intended use of the drug or minor reformulations.

I would scrap most of the pharma industry compensation scheme if I were in charge and offer generous bounties for delivery of efficacious drugs and then cut then off largely from the future revenue stream of those drugs, making them reasonably priced for any who may need them. And of course I'd kill all the lobbyists.

Edited September 10, 2009 by lannarebirth

[samuibeachcomber]

on an aside,if i was a US citizen either in the USA or living overseas i would be very concerned about what's happening to my country if reading some of the posts here are true,like states giving 100% guarantee against litigation for pharma co. who supply tamiflu,and authorising compulsory mass immunisation etc etc.

It appears so called democratic govts. are becoming very autocratic and the only way the truth is getting out is via the internet.You will know democracy is well and truly dead when the powers that be close it down.

[flying]

on an aside,if i was a US citizen either in the USA or living overseas i would be very concerned about what's happening to my country if reading some of the posts here are true,like states giving 100% guarantee against litigation for pharma co. who supply tamiflu,and authorising compulsory mass immunisation etc etc.

It appears so called democratic govts. are becoming very autocratic and the only way the truth is getting out is via the internet.You will know democracy is well and truly dead when the powers that be close it down.

So far it is just Massachusetts that passed a bill.

As a result there is a strong movement to Impeach Senator Moore who pushed the bill. I will be interested to see how this rolls

impeachment rally Sept 12, 2009 123 Main St Uxbridge, Ma 12-5 pm

PS: as for giving 100% guarantee against litigation for pharma co.

That has always been the case. They always made folks sign free from harm waivers before giving vaccinations.

Evidence that they stand firmly behind what they push.

But now there is the National Vaccine Injury Compensation Program

Which is not much of a consolation if it is your child killed or crippled by such things.

Edited September 10, 2009 by flying

[midas]

and what's wrong with that law Midas? it's a law i would highly appreciate if i were a Massachusetts resident because it reduces the risk that my next door neighbours, who refused a vaccination, are potentially endangering my health and the health of my family. the law is the law. if you don't follow the law you bear the consequences. as simple as that.

With all due respect.............

Not speaking for Midas but there is a lot wrong with a law that forces me to be injected with any substance against my will.

I have raised healthy children who are all now in their 20's & they never received one single vaccination. If they as adults ever feel the need to be vaccinated then that is their decision to do so.

But I like many others have very strong feelings about what goes into my body. That will not be decided by any government.

until reunification West Germany had mandatory vaccination laws for children. nobody complained because there were the odd cases to see what polio or small pocks can do not only to a child but spoil his/her whole life. there is nothing to rave about that all your children are healthy. they (and you) were just lucky. whether one has strong feelings or not is irrelevant. the legislature of the country in which one lives counts. if one does not like it one leaves or violates the laws and face the consequences.

p.s. and don't even think of telling me now how many firearms were bought to fight forceful vaccinations

Dr. Naam is correct IMO that we elect representatives and employ health officials to oversee the public welfare and except in cases where there may be increased health risks to a citixzen by following their recommendations (like allergic reactions etc.) one should expect they work with the best of intentions.

Flying's point I think, is that on numerous occasions public officials have failed in their duties to protect the public welfare and in fact have even been shown to collude with corporations to do harm to the public with the intention of profitting from those actions.

While I believe there is a strong case to be made for the public health benefits of vaccinations, the onus is on the government to prove their case and allay the fears of the populace. I'm not sure that can be done as they seem to have such little credibility these days.

Naam its quite ironical in Post #3907 in your reply to Alex you said " your naïveté seems to have no limits ".

I suggest you are now displaying similar characteristics. If you are so willing to succumb to being

vaccinated while there are still so many unanswered questions regarding the circumstances

behind this exercise and whether the ingredients of the vaccine are even safe, then you go ahead !

But I would not be prepared to give the Obama government the benefit of the doubt on this issue if I was living there.

Some have even warned the vaccine could potentially be more dangerous than the virus itself.

And why in any case are they pushing this so vigorously when 35,000 people die from the flu every year but only 100

have died from this in the USA?

But let's backtrack here............. what about the originations of this virus? There is no way of proving

that this guy's ( see the link ) assertions are wildly incorrect ( i.e. H1N1 Flu was created in a government lab

in the first place )

http://www.sodahead.com/blog/67587/cdc-adm...t-lab/#comments

And Naam no matter how loudly you may claim such suspicions have no substance- the bottom line is not everyone would be prepared

as you would seem to be to agree to a vaccination because it carries a risk of permanently damaging

your health.

Edited September 10, 2009 by midas

[AlexLah]

and what's wrong with that law Midas? it's a law i would highly appreciate if i were a Massachusetts resident because it reduces the risk that my next door neighbours, who refused a vaccination, are potentially endangering my health.

You are not at risk if you and family had/will take(n) your voluntary flu shot Naam (or are you), maybe you could ask your insurer if it is covered? Why are you putting yourself at risk as you know here in Thailand most of the people will not bother getting the jab. How about your domestic "slaves" will you ask or force them getting the shot and if they refuse will you kick them out or put them in quarantine? Have you taken precautions already by wearing some piece of cloth covering mouth and nosy? Anti septic handgel in every bathroom and kitchen sink. Are the floors and door handles being wiped and cleaned with Dettol 4 times daily? Anti bacteria filters of all aircon units renewed? Does the cook wear surgical latex gloves when preparing your food?

[teletiger]

and what's wrong with that law Midas? it's a law i would highly appreciate if i were a Massachusetts resident because it reduces the risk that my next door neighbours, who refused a vaccination, are potentially endangering my health.

You are not at risk if you and family had/will take(n) your voluntary flu shot Naam (or are you), maybe you could ask your insurer if it is covered? Why are you putting yourself at risk as you know here in Thailand most of the people will not bother getting the jab. How about your domestic "slaves" will you ask or force them getting the shot and if they refuse will you kick them out or put them in quarantine? Have you taken precautions already by wearing some piece of cloth covering mouth and nosy? Anti septic handgel in every bathroom and kitchen sink. Are the floors and door handles being wiped and cleaned with Dettol 4 times daily? Anti bacteria filters of all aircon units renewed? Does the cook wear surgical latex gloves when preparing your food?

The answer is Yes......next.

Regards.

Edit: Naam has a nosy? Explains a lot.

Edited September 10, 2009 by teletiger

[12DrinkMore]

Well, to put this topic back on the track, or rather to my pet theme of the week, the SDR

A very clear speech made by Zhou Xiaochuan in March on this is very interesting.

http://www.pbc.gov.cn/english/detail.asp?col=6500&id=178

I think we'll be seeing a lot more of the SDR in the next year or two.

But to move this on a bit, the adoption of the SDR for world trade and international transactions could surely make it possible for countries constrained by the EUR and central European policy makers to break away from the EUR? They could revert to an internal currency managed by suitable internal policies, and conduct external trade in SDR. I wonder if it could lead to the break up of the EUR? After all the economies of Germany, Italy, Ireland, Spain have very different requirements for economic policy, and the "one size fits all" boot is now causing more than a few blisters.

[teletiger]

Trading world commodities in SDR makes sense. Potential to cut down on price volatility.

But weaning that 800 lb baby gorilla off it's dollar dummy any time soon? Naaa.

Regards.

[flying]

I think we'll be seeing a lot more of the SDR in the next year or two.

But to move this on a bit, the adoption of the SDR for world trade and international transactions could surely make it possible for countries constrained by the EUR and central European policy makers to break away from the EUR? They could revert to an internal currency managed by suitable internal policies, and conduct external trade in SDR. I wonder if it could lead to the break up of the EUR? After all the economies of Germany, Italy, Ireland, Spain have very different requirements for economic policy, and the "one size fits all" boot is now causing more than a few blisters.

A world currency being the desired outcome all along? Is this the next step? To control a world currency rather than just the world currency reserve.

The only way any future currency will work is if it is backed by more than hot air. Something that is not able to be grown/created out of thin air by the will of a few.

Edited September 10, 2009 by flying

[flying]

Today they are televising the Congressional Oversight Panel questioning

Timothy Geithner

Tim mostly runs around the questions never really answering to the point asked.

Time runs out & on we go,

When asked why AIG paid Goldman 100 cents on the dollar how was that fair?

Was there no way to pay less given everyone else is taking a haircut.

Instead he talks of how AIG needed to be saved & sidesteps the GS issue.

Would not answer questions on CITI

Would not agree to run stress tests on any more than the current 20 banks

Even when reminded by chairperson Elizabeth Warren that there are 9000 banks & fewer every day.

She is a great chairperson & asks great questions...Problem is Geithner dances around them & never gets to the point.

Would not say if they knew how much toxic assets exist

Only would say well banks have more capital now than when this all started....DUH!!!

When question if Chrysler & GM was now a financial institutions since they have been helped with money slated towards financial institutions rescue ...He replied yes they are.

When asked if so then is AT&T or another which I have forgotten he replied no they are not????? <deleted>?

Also brought up the unfairness of who got paid & how many bond holders was left wanting in the GM bankruptcy

or bringing in Fiat car company if producing cars in the FUTURE & yet get TARP money. Geithner basically refuses to answer just saying it was prudent use.

Worth the watch but.........Only to hear good questions not any answers of substance.

As he talks the dollar drops. Anyone coming away from watching this feels better about the financial situation is on better drugs than most.

Edited September 10, 2009 by flying

[flying]

Years ago there was a anti drug use commercial on TV

It showed an egg being cracked into a frying pan.....

Then a voice said this is your brain.....

Then they scrambled the egg & said ....

This is your brain on drugs .... Any Questions?

I don't know why but when I saw this graph I thought of that commercial

http://research.stlouisfed.org/fred2/series/BASE

Edited September 10, 2009 by flying

[Naam]

and what's wrong with that law Midas? it's a law i would highly appreciate if i were a Massachusetts resident because it reduces the risk that my next door neighbours, who refused a vaccination, are potentially endangering my health.

1. You are not at risk if you and family had/will take(n) your voluntary flu shot Naam (or are you),

1a. maybe you could ask your insurer if it is covered?

2. Why are you putting yourself at risk as you know here in Thailand most of the people will not bother getting the jab.

3. How about your domestic "slaves" will you ask or force them getting the shot and if they refuse will you kick them out or put them in quarantine?

4. Have you taken precautions already by wearing some piece of cloth covering mouth and nosy? Anti septic handgel in every bathroom and kitchen sink.

5. Are the floors and door handles being wiped and cleaned with Dettol 4 times daily?

6. Anti bacteria filters of all aircon units renewed?

7. Does the cook wear surgical latex gloves when preparing your food?

1. the risk is only reduced, not eliminated.

1a. i don't ask my insurance company whether peanuts is covered.

2. i am not living in Thailand but in my house.

3. our employees seem to have more common sense than you and would not refuse vaccination.

4. my wife wears a mask when shopping and she uses antiseptic gel.

5. not four times daily but twice a week, bathrooms once daily, no Dettol but something else.

6. whatever aircons i have used during the last 20 years were fitted with electrostatic filters.

any other questions?

[flying]

Some of the uncounted unemployed...

http://www.nytimes.com/2009/09/07/us/07worker.html?_r=1

[midas]

Some of the uncounted unemployed...

http://www.nytimes.com/2009/09/07/us/07worker.html?_r=1

I am waiting to see this covered on CNBC

And here more evidence of " green shoots "

Smith & Wesson Holding Corporation Reports First Quarter Fiscal 2010 Financial Results

--Record Quarterly Sales of $102 Million (+30%)--Record Quarterly Net Income of $12.6 Million (+458% )

Firearm sales increased for the first quarter by $21.7 million, or 29.6%, over the comparable quarter last year. Sales of pistols increased 14.5%, as we addressed a strong backlog and ongoing consumer demand

http://www.marketwatch.com/story/smith-wes...ults-2009-09-09

[flying]

I am waiting to see this covered on CNBC

And here more evidence of " green shoots "

Smith & Wesson Holding Corporation Reports First Quarter Fiscal 2010 Financial Results

--Record Quarterly Sales of $102 Million (+30%)--Record Quarterly Net Income of $12.6 Million (+458% )

Firearm sales increased for the first quarter by $21.7 million, or 29.6%, over the comparable quarter last year. Sales of pistols increased 14.5%, as we addressed a strong backlog and ongoing consumer demand

http://www.marketwatch.com/story/smith-wes...ults-2009-09-09

It actually was on CNBC this morning here. I do half kick myself having watched this all year. I had considered a few companies & never acted on it. Well I did add some but only for personal use

[teletiger]

Some of the uncounted unemployed...

http://www.nytimes.com/2009/09/07/us/07worker.html?_r=1

I am waiting to see this covered on CNBC

And here more evidence of " green shoots "

Smith & Wesson Holding Corporation Reports First Quarter Fiscal 2010 Financial Results

--Record Quarterly Sales of $102 Million (+30%)--Record Quarterly Net Income of $12.6 Million (+458% )

Firearm sales increased for the first quarter by $21.7 million, or 29.6%, over the comparable quarter last year. Sales of pistols increased 14.5%, as we addressed a strong backlog and ongoing consumer demand

http://www.marketwatch.com/story/smith-wes...ults-2009-09-09

Remember those subliminal messages they put on film in cinemas? Here's one for Bambi......in spades.

Regards.

[12DrinkMore]

A world currency being the desired outcome all along? Is this the next step? To control a world currency rather than just the world currency reserve.

The only way any future currency will work is if it is backed by more than hot air. Something that is not able to be grown/created out of thin air by the will of a few.

Ever since we moved from trading pigs for apples the currencies have been backed by hot air. Even gold, that universally desirable shiny yellow element, has its value pumped up and down by hot air, aka speculation, and then some, because there is a lot more "paper gold" being traded than the nice solid stuff in existence.

So I think we stuck with currencies that are created out of thin air, barring the revolution, which won't happen because of television.

The SDR is "managed" by the central bankers through the IMF, and is about as good as it gets in these days. Even Bernanke only has some 17% of the voting rights, which is IMO too many by about 16.999.

Next year the composition of the SDR comes under review. It will be interesting to see what the result of that process is.

But somehow, although the idealists would like a return to a gold standard, I doubt very much whether this will be given even a millisecond of thought by the central bankers of this world, who are going to make the decisions. You see, to move to a gold standard would take all the power OUT from their hands and this sure ain't gonna happen. It would also recreate the problems that emerged causing the gold standard to be dropped. It would also place the power of world trade finances into the hands of the gold producers, gold hoarders and gold speculators.

There is a call by major nations and world organisations for a world reserve currency that is free from the economic needs of the individual countries. And the obvious candidate is the SDR, there is no other alternative proposed.

I think the writing is now indelibly on the wall, might take five years or ten, but it is the only solution to decouple the requirements of world trade from the needs of individual countries to manage their economies and the whims of the politicians pandering to their sponsors.

[AlexLah]

and what's wrong with that law Midas? it's a law i would highly appreciate if i were a Massachusetts resident because it reduces the risk that my next door neighbours, who refused a vaccination, are potentially endangering my health.

7. Does the cook wear surgical latex gloves when preparing your food?

1. the risk is only reduced, not eliminated.

1a. i don't ask my insurance company whether peanuts is covered.

2. i am not living in Thailand but in my house.

3. our employees seem to have more common sense than you and would not refuse vaccination.

4. my wife wears a mask when shopping and she uses antiseptic gel.

5. not four times daily but twice a week, bathrooms once daily, no Dettol but something else.

6. whatever aircons i have used during the last 20 years were fitted with electrostatic filters.

any other questions?

Yes, where is the answer on question seven?

I suggest we gather at your place where we indulge ourselves just like the Romans did.

Have fun and enjoy life.

So when the final crash comes at least we can say we had a good time.

You are a nice guy Naam, no way you could be ever voted to be the most hated one.

Take care!

Alex

Edited September 11, 2009 by AlexLah

[flying]

I think the writing is now indelibly on the wall, might take five years or ten, but it is the only solution to decouple the requirements of world trade from the needs of individual countries to manage their economies and the whims of the politicians pandering to their sponsors.

We will see...... But I do not think the SDR is the only solution

But I think if that happens it happens by design of the same PTB that now control.

They want only to increase their control. Somehow I do not see China, Russia, India, & the Arab Nations being so obliging. When they see what their share of control is reduced to in such a scenario. How is it that the bankrupt & arguably the cause of much of the crisis will hold close to 20% control of the new. Not to mention what other shareholders they would ultimately control vote wise.

The only way it will work is with something honest backing it. Something immutable by TPTB. If not the cycle begins again & it all adds up to nothing more than hitting a reset button that frees certain culprits of their obligation. In retrospect I do not see this ending nicely.

[sokal]

This Chinese banker sounds just like Peter Schiff. Full article here a clip from it....

“It’s sort of stabilized from cliff drop,” Zhu said. “But the real economic crisis has just started.”

[LaoPo]

This Chinese banker sounds just like Peter Schiff. Full article here a clip from it....

“It’s sort of stabilized from cliff drop,” Zhu said. “But the real economic crisis has just started.”

Thanks for the link.

But Peter Schiff was 100% correct when he predicted the US (being a Titanic) would face a serious financial crisis as well as real estate prices collapsing in 2007. He predicted so in August 2006.

I'm afraid Mr. Zhu Min is right when he says that "Bankers on Wall Street are suffering from “over confidence” and are “myopic” in the face of a continuing financial crisis...."

And, Mr. Stephen Roach, Morgan Stanley Asia Chairman: ".....put the odds of the U.S. leading the world into another recession at as high as “one in three.” "

http://www.bloomberg.com/apps/news?pid=206...id=a8wwPSfQU2io

LaoPo

[Bukseeda]

This Chinese banker sounds just like Peter Schiff. Full article here a clip from it....

“It’s sort of stabilized from cliff drop,” Zhu said. “But the real economic crisis has just started.”

Thanks for the link.

But Peter Schiff was 100% correct when he predicted the US (being a Titanic) would face a serious financial crisis as well as real estate prices collapsing in 2007. He predicted so in August 2006.

I'm afraid Mr. Zhu Min is right when he says that "Bankers on Wall Street are suffering from “over confidence” and are “myopic” in the face of a continuing financial crisis...."

And, Mr. Stephen Roach, Morgan Stanley Asia Chairman: ".....put the odds of the U.S. leading the world into another recession at as high as “one in three.” "

http://www.bloomberg.com/apps/news?pid=206...id=a8wwPSfQU2io

LaoPo

I agree. And where's the money from a bail out going to come from next time...?

[Naam]

A world currency being the desired outcome all along? Is this the next step? To control a world currency rather than just the world currency reserve.

The only way any future currency will work is if it is backed by more than hot air. Something that is not able to be grown/created out of thin air by the will of a few.

Ever since we moved from trading pigs for apples the currencies have been backed by hot air. Even gold, that universally desirable shiny yellow element, has its value pumped up and down by hot air, aka speculation, and then some, because there is a lot more "paper gold" being traded than the nice solid stuff in existence.

So I think we stuck with currencies that are created out of thin air, barring the revolution, which won't happen because of television.

The SDR is "managed" by the central bankers through the IMF, and is about as good as it gets in these days. Even Bernanke only has some 17% of the voting rights, which is IMO too many by about 16.999.

that is the official version. reality differs very much!

[LaoPo]

This Chinese banker sounds just like Peter Schiff. Full article here a clip from it....

“It’s sort of stabilized from cliff drop,” Zhu said. “But the real economic crisis has just started.”

Thanks for the link.

But Peter Schiff was 100% correct when he predicted the US (being a Titanic) would face a serious financial crisis as well as real estate prices collapsing in 2007. He predicted so in August 2006.

I'm afraid Mr. Zhu Min is right when he says that "Bankers on Wall Street are suffering from “over confidence” and are “myopic” in the face of a continuing financial crisis...."

And, Mr. Stephen Roach, Morgan Stanley Asia Chairman: ".....put the odds of the U.S. leading the world into another recession at as high as “one in three.” "

http://www.bloomberg.com/apps/news?pid=206...id=a8wwPSfQU2io

LaoPo

I agree. And where's the money from a bail out going to come from next time...?

Maybe here: ?

And, if that doesn't work anymore......it would be quite a sight watching crawling and swimming guys from Washington and Wall St. all the way to China......

LaoPo