Outlook 2008, The Upcoming US Depression

GY - thanks

aha didnt know the slang....
am waiting impatiently for that one... USD/JPY seems to be fiercely defended around the 110 mark, the whole carry trade and status quo is at stake i guess...
2 ways to make a buck quick then... start a rumor to crash wall st then short GY, or turn lead into gold...
cheers
 
China has already said they are moving away from the US dollar...they have being selling. Why don't you tell me how much they are holding in their CB. I guarantee it's no where near it was 1-2-3 years ago. And yes, urnaium can be extracted from water and its already been done through cocktail extraction. Why the hell would russia/france make such massive orders if this wasn't possible and cost efficient? If only they saw things the way you do..and they would avoid so much trouble lol...your funny. The orders through Aeola wont be built for years to come...Sure its costly startup but it pays off in the end. Maybe you should do some checking into that before you make bold unsubstantiated claims that only will meet with laughter with anybody reasonably familiar with the real world.

I am not sure why you need to ask me about this as it is well known fact - They are at about $1.43 trillion. And again I suggest you educate yourself before making statements. That is about 43% higher than what it was 12 months ago - $1 trillion.

They will try to shift of course as they have disproportionate reserves in dollar but they are adding dollars faster than they can diversify at least that is what the numbers show. Talk is cheap. They cannot get out of the dollar as they would hurt themselves as well. It would create a run on the currency which would make it impossible for them to save the value of their accumulated wealth and would have the added severe negative impact on their US exports which is currently the main trading partner. Since you are asking such basic questions as the Chinese CB current dollar reserves it seems you are not very familiar with the subject you are currently discussing. You are probably not aware that the Chinese government is now really nervous about their precarious situation - if the country experiences a severe economic shock which is by no means inevitable given the stock market runup and their dependance on US-exports they need to retain the status quo at all costs to avoid civil unrest. A severely devalued dollar is not in their interests either.

France and Russia are doing this because they know they will be desperate when the severe oil shocks come. And yes it is being done - as I said anything can be done but it is more expensive than any alternative currently. They are doing it using algae but it takes so long to complete the process and actually results in more costs than benefits. It is the same deal as ethanol which costs more energy than it produces. Unfortunately, uranium is not the answer. The issue is not only energy but all the other things oil is used for - plastics, fertilizers, roads - you name it oil is everywhere and it is the foundation of the world economy. The infrastructure would need another 20-30 years to be retrofitted to use electric and some form of energy storage - hydrogen is just too dangerous and the technology is another 20 years away by current estimates. Unfortunately, hydrocarbon energy is what fuels the world economy and oil which is the lifeblood is at peak production based on all current signs. And we have squandered the past 20-30 years since the first warning signs in the 70s.
There is another alternative which is actual carbon sequestration using algae again. they actually produce oil the way it was produced originally. However, this process is extremely slow and probably another 15-20 years away from becoming a viable alternative.
 
Last edited:
This whole discussion has me contemplating which resources will really become more valuable over the next few years. I've posted a poll/discussion thread over in the General Forex Talk section of the forum. Please visit, vote for your favorite(s), and argue for or against the future value of resources.
 
I am not sure why you need to ask me about this as it is well known fact - They are at about $1.43 trillion. And again I suggest you educate yourself before making statements. That is about 43% higher than what it was 12 months ago - $1 trillion.

They will try to shift of course as they have disproportionate reserves in dollar but they are adding dollars faster than they can diversify at least that is what the numbers show. Talk is cheap. They cannot get out of the dollar as they would hurt themselves as well. It would create a run on the currency which would make it impossible for them to save the value of their accumulated wealth and would have the added severe negative impact on their US exports which is currently the main trading partner. Since you are asking such basic questions as the Chinese CB current dollar reserves it seems you are not very familiar with the subject you are currently discussing. You are probably not aware that the Chinese government is now really nervous about their precarious situation - if the country experiences a severe economic shock which is by no means inevitable given the stock market runup and their dependance on US-exports they need to retain the status quo at all costs to avoid civil unrest. A severely devalued dollar is not in their interests either.

France and Russia are doing this because they know they will be desperate when the severe oil shocks come. And yes it is being done - as I said anything can be done but it is more expensive than any alternative currently. They are doing it using algae but it takes so long to complete the process and actually results in more costs than benefits. It is the same deal as ethanol which costs more energy than it produces. Unfortunately, uranium is not the answer. The issue is not only energy but all the other things oil is used for - plastics, fertilizers, roads - you name it oil is everywhere and it is the foundation of the world economy. The infrastructure would need another 20-30 years to be retrofitted to use electric and some form of energy storage - hydrogen is just too dangerous and the technology is another 20 years away by current estimates. Unfortunately, hydrocarbon energy is what fuels the world economy and oil which is the lifeblood is at peak production based on all current signs. And we have squandered the past 20-30 years since the first warning signs in the 70s.
There is another alternative which is actual carbon sequestration using algae again. they actually produce oil the way it was produced originally. However, this process is extremely slow and probably another 15-20 years away from becoming a viable alternative.

Umm No, China has 1.43 billion in foreign reserves. 400 billion in US reserves.
"Chinese investors reduced their holdings of U.S. Treasuries by 5 percent to $400 billion in the five months to August, according to Federal Reserve data."
They claim it will still be their main reserve but we'll see about that as it gets weaker and weaker and weaker. Btw, you can't really beleve too much on what they say. Please educate yourself before making such comments. And as for your uranium comment...shut the hell up...again gibberish. Anyways, I'm done with your comments they have been slashed enough. So next time you want to knock someone's consensus, at least come do your homework or you just look stupid like you do here.

Best regards, your pal Chris.
 
Umm No, China has 1.43 billion in foreign reserves. 400 billion in US reserves.
"Chinese investors reduced their holdings of U.S. Treasuries by 5 percent to $400 billion in the five months to August, according to Federal Reserve data."
They claim it will still be their main reserve but we'll see about that as it gets weaker and weaker and weaker. Btw, you can't really beleve too much on what they say. Please educate yourself before making such comments. And as for your uranium comment...shut the hell up...again gibberish. Anyways, I'm done with your comments they have been slashed enough. So next time you want to knock someone's consensus, at least come do your homework or you just look stupid like you do here.

Best regards, your pal Chris.

Once again nonsense. It is $1.4 trillion. Get your zeros right. Yes I was answering how much reserves they have denominated in the USD not holding in USD. The reserves however are mostly in USD and USD denominated securities and the reserves have grown since last year by a factor of 40%. There are no real figures of the breakdown between the holdings as Chinese government does not release that information. It is estimated to be 70% USD and dollar denominated securities. The fact remains that china holds more dollars compared to last year when that was estimated at 800 billion.

By the way the assistant governor of BOC has recently stated that shifts to other currencies are merely opinions and will not be part of policy of BOC.

<QUOTE AFP WIRE>
"Yi Gang, the assistant governor of the People's Bank of China, said the dollar had to continue as key component of the country's 1.4 trillion dollar reserves because it was "the largest currency that we use" in terms of trade and foreign direct investment as well as financial clearances and settlements.

"It is also a very firm policy for China that in our reserves, that the US dollar is the main currency in our reserves and that policy is very firm,"

Yi, who is also the central bank's director-general of operations, said recent suggestions by a senior Chinese politician as well as a state banker that Beijing shift its largely dollar-based reserves toward presently stronger currencies, like the euro, were mere "opinion."
<UNQUOTE>

Make no mistake. What is happening here is the US is fleecing the rest of the world. A devalued dollar is in the interests of the US. This cycle has happened over and over. A devalued dollar will facilitate servicing and ultimately paying off (improbable as this may seem) the US debt at much more favorable conditions for the US and also balance out the trade deficit. Internally in the US a devalued dollar doesn't mean a hell of a lot to the average person except in terms of energy prices. As much as Paulson and Bernanke are talking about propping up the dollar that is mere talk with no actions.

As for energy I would suggest do some reading like Stephen Loeb, Michael Ruppert, Matthew Simmons (former advisor to Chenney's ETF).

Consensus means at least 2 people involved. By definition one person cannot have a consensus on a question.

You counter everything by namecalling. You should base your counterthesis on something and your only response is "gibberish". I explain why I think you are wrong. You don't. Nothing personal.
 
Last edited:
TR8R, Rob and the rest of the world...

You (hopefully) did view the Movie, America, Freedom or Fascism by Aaron Russo. Assuming you found yourself a touch on the angry side at the Fraud being committed against you, you might wish to read the following too.

www.natural-person.ca/pdf/mary_croft.pdf

This is a 91 page e-book that gives more details about the Federal Reserve Banks long term history of fraud and even better, how to beat them.

You might wish to spread this info as widely as possible, since your freedom depends on it.

Later,

Lance Blumenthal
aka Blue Mental
 
Last edited by a moderator:
TR8R, Rob and the rest of the world...

You (hopefully) did view the Movie, America, Freedom or Fascism by Aaron Russo. Assuming you found yourself a touch on the angry side at the Fraud being committed against you, you might wish to read the following too.

www.natural-person.ca/pdf/mary_croft.pdf

This is a 91 page e-book that gives more details about the Federal Reserve Banks long term history of fraud and even better, how to beat them.

You might wish to spread this info as widely as possible, since your freedom depends on it.

Later,

Lance Blumenthal
aka Blue Mental

When the IRS takes you to court you are stripped of your consitutional rights. There is really no way to win. A friend of mine has already been through the hell that is trying to defend himself against the imposition of "unlawful" taxation.

Although I agree with the opinion in the movie, Ruso tends to be wrong about a number of facts. Schiff who appears as authority in the film is currently serving in New Jersey jail after being convicted of tax evasion and filing false tax returns. Ruso, also states that the film was shown at the Cannes Film Festival which is untrue. He just set up a screening outside of the official festival to a limited audience. Although the spirit of the film is good - I don't think anybody is in love with the IRS - a number of factual inaccuracies and the false promoting effort makes me wonder about his integrity.

Although nobody likes it income tax in the US is actually legal. This is laid out in Article I, Section 8 of the Constitution.
To read more on the subject:

http://www.nytimes.com/2006/07/31/m...998400&partner=rssnyt&emc=rs&pagewanted=print
 
Last edited by a moderator:
Thanks TR8R for posting the video, I had not seen this one before. I just wish everyone knew about it. My uncle told me pretty much the same story years ago...really it's old old news and yet not very many people know. There is no real good way to spread the word for us except from mouth to mouth and postings on the internet. The television media wont allow it which sucks. I haven't seen a lot of the presidential debates but it seems like Ron Paul is the only one really preaching this stuff...If only we could get him in office. I see his online popularity is growing nicely. Problem is, like mentioned in the video..is the voting system, even if he had the majority, would he get elected? Probably not :( It will probably be Obama or Hiliary or Mccain..the next puppet for America's so called invisible leaders.

I'm not disputing the article..but I think this really comes down to moralities. And section 8 is unclear..section 8 says congress shall collect taxes...but what taxes?? and it is supposed to cover defence...not to invade a country. Captial gains tax is fair but we all must admit that income is not. We can all agree that the funds are not allocated evenly/fairly. Does it even matter anyway??? Do you think its morally right that the american public and foreign countries have to hold the bag for a irresponsible war/debt? . Sure Russo is not 100% correct in his statements but the message he is sending is clear and the american people need to stand up for what they believe in....FREEDOOOOOOOOOOOOOOOOOOOOOOOM!!!! a little braveheart for ya

VOTE RON PAUL!!!!
 
Last edited:
Thanks TR8R for posting the video, I had not seen this one before. I just wish everyone knew about it. My uncle told me pretty much the same story years ago...really it's old old news and yet not very many people know. There is no real good way to spread the word for us except from mouth to mouth and postings on the internet. The television media wont allow it which sucks. I haven't seen a lot of the presidential debates but it seems like Ron Paul is the only one really preaching this stuff...If only we could get him in office. I see his online popularity is growing nicely. Problem is, like mentioned in the video..is the voting system, even if he had the majority, would he get elected? Probably not :( It will probably be Obama or Hiliary or Mccain..the next puppet for America's so called invisible leaders.

I'm not disputing the article..but I think this really comes down to moralities. And section 8 is unclear..section 8 says congress shall collect taxes...but what taxes?? and it is supposed to cover defence...not to invade a country. Captial gains tax is fair but we all must admit that income is not. We can all agree that the funds are not allocated evenly/fairly. Does it even matter anyway??? Do you think its morally right that the american public and foreign countries have to hold the bag for a irresponsible war/debt? . Sure Russo is not 100% correct in his statements but the message he is sending is clear and the american people need to stand up for what they believe in....FREEDOOOOOOOOOOOOOOOOOOOOOOOM!!!! a little braveheart for ya

VOTE RON PAUL!!!!

Nobody has really forced foreign countries to hold american debt. It is a free market. As for the american public - that is a direct result of the politicians that were voted in by themselves. Americans want to drive an SUV regardless of which foreign country needs to be invaded to ensure cheap oil. There is a reason that trillions have been spent on this war and that reason is - it is actually worth it in economic terms. Chenney may not be a good guy but he is not a dumb guy...

I agree with last line wholeheartedly though I have to say there is little hope. Even in the unlikely event he does get elected in if he actually attempts to carry out what he has proposed in his platform this will most probably doom him both to a short political and possibly actual physical life thereafter. A little trivia for you - JFK was in the process of sanctioning a silver-backed, Treasury-issued dollar, which would have effectively ensured responsible government spending, eliminated Fed-imposed interest on government debt, and put monetary policy control back into the hands of the Treasury which had been usurped and monopolized by the Fed 50 years earlier. Soon thereafter we know what happened.
 
Last edited:
On water this is in areas more important than oil. Man has the power to cause or not cause rain.The science of it (non cloud seeding) embraces Atmospheric ionization with a spark discharge (plasma physics). From records more recently to hand almost 5 decades of offshore research has gone into it including the sciences reaching as far back to Nicola Tesla, Michael Faraday, Sir William Crooks and Walter Russell.

In 1977 the ENMOD Act of the United Nations was passed forbidding man / countries to engage in the use of weather modification technology for warfare purposes.
See http://untreaty.un.org/sample/EnglishInternetBible/partI/chapterXXVI/treaty1.htm

In October 1996 a group of learned USA Airforce PHD’s conversant with weather engineering / modification issued a report entitled “ Weather as a Force Multiplier Owning the Weather in 2025 “in recognition that man would control the weather by 2025.â€￾ The USA Senate hearings translated it later into an Act.See http://csat.au.af.mil/2025/volume3/vol3ch15.pdf

Little did anyone know that in 1996 a group of allies abroad were already light years ahead in that particular field of research.

In October 2005 the USA Senate passed a bill known as the Weather Modification Research and Technology Transfer Authorization Act of 2005 to buy the technology worldwide. The best available is still held privately overseas. See http://thomas.loc.gov/cgi-bin/cpquery/T?&report=sr202&dbname=109&

Trials and successes are being repeated as we speak. The mindset and technology gap have to be urgently overcome and the fact that Tesla started the global weather modification quest. As in drilling the earth man already knows how to drill from the heavens or plug it.
 
Back
Top