EUR-USD 1.3192

GBP-USD 1.6971

Oil 71.87

Gold 771.50

source: bloomberg.com

Another day, another Dollar RISE:

EUR-USD 1.2877

GBP-USD 1.6418

Oil 68.85

Gold 756.70


I posted elsewhere, "We are observing the transformation of capitalism into American Financial DOMINATION of the World"

And the dollar, which we have been printing like crazy, still has a market worldwide.

It's not on FoxNews; it's not on MSNBCNN;

But the grey men with the Gucci portfolios are being TOLD by Herr Paulson exactly what they must do with their economies so that we "can all get along" in the "New World Order".

NWO is code for the American EMPIRE. Here are the rules:

1. America prints the money, the COIN OF THE REALM. All other currencies are to be used ONLY FOR LOCAL COMMERCE. ONLY THE ALMIGHTY US DOLLAR will be used as the RESERVE CURRENCY - fuggeddabout the EURO. Don't even think about making it an oil marker (pay attention, Iran)

2. American financial institutions (IMF and World Bank) will supply all the money you need for all the projects you want to build. America will even pay the bribes to your leaders (adding it onto the loan, of course, which your country can never hope to pay back).

3. You will allow America to station military forces in your country, and you will suppress any complaints about it.

4. Everything will be wonderful. To borrow a line said by Mr. Jensen in "Network",


"We no longer live in a world of nations and ideologies, Mr. Beale. The world is a college of corporations,
inexorably deter-mined by the immutable by-laws of business. The world is a business,
Mr. Beale! It has been since man crawled out of the slime, and our children,
Mr. Beale, will live to see that perfect world in which there is no war and
famine, oppression and brutality -one vast and ecumenical holding company,
for whom all men will work to serve a common profit, in which all men will
hold a share of stock, all necessities provided, all anxieties tranquilized,
all boredom amused. And I have chosen you to preach this evangel, Mr. Beale."

And let us say, Amen.


source: bloomberg.com

The goldbugs think the price of gold is being artificially manipulated on the down side. I don't know what I think of these arguments so haven't posted much on that topic. What do you think?

Not sure, Snuff. The Hedge Funds are running everything else up and down, so why not Gold?

We now know FOR SURE they were behind the oil bubble. Remember the headline 6 months ago quoting Goldman as saying oil would top $200 by year's end? Like, how did they know, UNLESS THEY WERE GONNA MAKE IT HAPPEN?

I'm sitting this one out.

"You can't roller skate in a buffalo herd." - song by Roger Miller

Day ain't over yet.

At 5:00pm, Kah-Lee-FAWN-Yah time, here are the results for the day:

EUR-USD 1.2769

GBP-USD 1.6205

Oil 67.50

Gold 724.90

Can you believe this???

Last spring, the Euro was $1.60, and Europeans were coming to America in droves to cash in on the cheap prices here.

And the British Pound was $2.00 even. We had friends go to UK on holiday. They came back in shock.

Lookout below.

Don't be walking on Wall $treet today. Chance of falling bodies:

EUR-USD 1.2645

GBP-USD 1.5637

Oil 63.28

Gold 708.50

Market set for an "E" ticket ride today.

FASTEN YOUR SEAT BELTS

Been a few days since last I looked:

EUR-USD 1.2505

GBP-USD 1.5640

Oil 63.54

Gold 736.30

I am ...

Somebody is dumping a lot of something out there ....

I am seeing prices of certain commodities plummeting, like copper which is falling like a stone, it seems, down from around $4.00/pound, to about $1.68 or so a pound the other day ....

Greed is burning somebody's fingers, I think ...

And it comes to mind that you really have to be pretty stupid to be a long-term greedy person ....

You invite long-erm consequences down on yourself when you do ...

And then the chickens always come home to roost, as they are now ...

And so ...

Not when it is a rigged game, and you are the rigger.

jeffmoskin ...

Allegedly and supposedly, western economics runs or operates on some theory of "supply and demand" ...

I used to buy copper ....

So I was a part of the demand for which there was a supply ...

Then the speculators came and boosted the price of copper to $4.00 per pound, which is totally ridiculous ...

They figured that people like me had no choice but to pay their price ...

But I am an American, jeffmoskin ...

I can make due without ....

And I can say and have said to the speculators, "Hey, **** you, Jack!"

"You got the ****, you own the ****, I'm not paying your price!"

And so it was ....

I haven't bought a dime's worth of copper in a long time now ....

My consumption went right to ZILCH!

In the meantime, that copper exists ...

Those people holding futures own an actual commodity ...

They have to pay storage on that commodity that they own ...

The more I don't buy, the more they get hurt by the costs of owning that commodity that they jacked the price of way up and out of sight, so that copper is now considered a "precious metal" ....

And I am GLAD to inflict that hurt on them by my continual act of NON-CONSUMING ....

I'd like to see them starving by the side of the road, jeffmoskin, and by NON-CONSUMING, I am helping them on their way, as I see it ...

Yes, jeffmoskin ...

They declared ECONOMIC WAR on us, so now I am fully engaged myself in defense of my rights ...

This was the other part of "supply-and-demand" that these arrogant, avaricious, puffed-up WALL STREET fools and scammers and con men just couldn't grasp, jeffmoskin ....

Some of us just don't simply bend over and bow down because some WALL STREET @$$hole tells us to, as if we owe some kind of duty to these WALL STREET types ...

And so ...

Today, November 6:

EUR-USD 1.2686

GBP-USD 1.5576

Oil 60.90

Gold 732.10

US Dollar is holding up rather well, considering the market is in free-fall.

I guess when push comes to shove, the world would rather have the FED's IOUs than most other things.

"Commodities drop on concerns over weakening demand - Investor concern over economy and subsequent weak demand for commodities sends futures lower"

By SARA LEPRO, Associated Press

Last updated: 4:45 p.m., Tuesday, November 11, 2008

NEW YORK -- Gold and other commodities prices tumbled in tandem with the stock market Tuesday as more signs of economic weakness drove concerns about a slowdown in demand for raw materials.

In recent weeks, the futures markets have mirrored the direction of equities as investors, worried about a deep and protracted recession, pulled money out of both stocks and commodities.

Wall Street extended its losses on Tuesday as third-quarter reports from companies including coffee retailer Starbucks Corp. and home builder Toll Brothers Inc. sent a strong signal to investors that few industries are immune to a sharp pullback in consumer spending.

"The commodities and equities, which are typically inversely proportional, seem to be trading in lockstep," said Richard Feltes, senior vice president and director of commodity research for MF Global in Chicago.

"Commodity demand is tied to economic growth, and to the extent that the equity markets are signaling continued economic slowdown, that means lower demand for basic commodity materials, be it steel or grains or whatever."

Anxiety about the future of General Motors Corp., whose shares have plunged to 65-year lows, also weighed on investors.

Many believe the struggling automaker, which announced nearly 2,000 additional job cuts late Monday, will be forced to file for bankruptcy if it does not receive some form of government assistance.

A strengthening dollar also contributed to the decline in commodities Tuesday.

Investors often use commodities as a hedge against inflation, so when the dollar is strong, they typically flee commodities.

The dollar has enjoyed a substantial rally as of late as markets overseas exhibit signs of economic turmoil.

"The general consensus is (the U.S. is) farther along in this economic cycle than they are in Asia and Europe," Feltes said.

"Thus, we will be the first to recover."

"That is going to be more supportive to the dollar."

Gold for December delivery fell $13.70 to settle at $732.80 an ounce on the New York Mercantile Exchange, after dipping as low as $725.50 earlier in the session.

Other precious metals prices also fell.

December silver dropped 41.5 cents to $9.805 an ounce, while December copper futures fell 10.4 cents to $1.6480 a pound.

On Wall Street, the Dow Jones industrial average tumbled 176.58, or 1.99 percent, to 8,693.96.

Broader market indexes also fell.

The dollar rose against other major currencies, including the euro and the British pound.

Energy prices declined sharply on the Nymex on continued concerns over waning energy demand.

Light, sweet crude for December delivery fell $3.08 to settle at $59.33 a barrel, the lowest closing price since March 2007.

Heating oil futures fell 7.66 cents to $1.9290 a gallon, while gasoline futures dropped 6.2 cents to settle at $1.3059 a gallon.

Grain prices mostly fell on the Chicago Board of Trade.

Corn for December delivery fell 9.25 cents to $3.7425 a bushel, after hitting a new 52-week low of $3.6025 earlier in the session.

January soybeans declined 32 cents to $9.16 a bushel.

December wheat futures fell as much as 13 cents a bushel before rising 3.25 cents to settle at $5.2325 a bushel.

Today, November 17, 2008:

Euro 1.2712

Pound 1.5008

Oil 56.97

Gold 745.00

And the beat goes on.

I heard a comment on some news or financial show over the weekend
that if China decides to dump treasuries the dollar gets dumped on...
sound right to you?

They own enough to massively distort the exchange rate but their current interests lie in a stable dollar so I'd expect them to make any shift as slowly as they can afford to.

Why would they want to sink the ship if they are in it?

Yep! That's my point, well, that and we'd better keep them in the same ship.

Today December 5, 2008:

Euro $1.2664

Pound $1.4616

Oil 41.24

Gold 742.60

La-di-dah-di-dee, la-dih-dah-dee-dah

UN team warns of hard landing for dollar
The current strength of the dollar is temporary and the US currency risks a hard landing in 2009, according to a team of United Nations economists who foresaw a year ago that a US downturn would bring the global economy to a near standstill. In their annual report on the world economy published on Monday, the economists said the dollar's sharp rebound this autumn had been driven mainly by a flight to the safety of the international reserve currency as the financial crisis spread beyond the US... Financial Times

Currencies: Getting ready for the mid-2009 global monetary system crash

If LEAP/E2020 was able to anticipate properly the start and course of the current crisis, it is because since the beginning of 2006 we came to the conclusion that it was first and foremost a global systemic crisis, calling into question the global financial and economic order born in the aftermath of WWII. In this regard it is quite ironical that the near totality of leaders, experts and media worldwide are now overbidding on the necessity of a new Bretton Woods, i.e. clearly a reappraisal of the Western order built in 1945, when in February 2006 (GEAB N°2) they found ridiculous our perspective of a crisis putting an “end to the Western world as we knew it since 1945”. That says a lot about their capacity to understand what is going on today and to anticipate the months and years to come. In this 29^th edition of the GEAB, we already explained that global leaders’ reaction, G20 in the lead, are inefficient and running after the events. According to our team, it therefore belongs to you, individual player (person, company or municipality), to get ready for what we think will be a breakdown of the global monetary system by mid-2009. GEAB N°29 Quote (November 2008)

>Phase IV of the Global Systemic crisis: Breakdown of the Global Monetary System by summer 2009

http://www.leap2020.eu/GEAB-N-29-is-availa...2009_a2435.html