Dear CBO office
Would you please do a finical analysis on the new bill that the Sennett just voted on. Please add in all the Changes they put in after they got the figures from you on the old bill. Then you can send it to me on my blog here at the Motley Fool or send it to all the New Agency's. I just don't believe that they are telling me the truth. I would like to hear it from the Horses mouth so to speak. Because of this I am still a gold and silver buyer. While I am at it I would like the IMF aka the FED write to me here or the News Agency's as to weather or not you look at the Interest rates we pay you as inflationary and if you look at taxes we are charged as inflationary. Inquiring minds would like to know. Now fools tell me more about this new currency they are talking about. http://www.newcurrency.org/blog/
Latin America’s Bolivarian alliance grows
James Suggett, Merida 27 June 2009In a summit in Venezuela on June 24, the Caribbean and South American integration organization ALBA was strengthened by the addition of Ecuador, St Vincent and the Grenadines, and Antigua and Barbuda as its newest member countries.
ALBA was formed by Venezuela and Cuba in 2004. Other member-states include Bolivia, Nicaragua, Honduras and Dominica.
ALBA, which means “dawn” in Spanish, originally stood for the Bolivarian Alternative of the Americas, but changed “alternative” to “alliance” at the summit. Venezuelan President Hugo Chavez explained: “The ALBA is no longer a theoretical proposal, but a platform of political, territorial, geopolitical power.”
Ecuadoran President Rafael Correa said the ALBA bloc, which aspires to supplant neoliberal, US-dominated free trade deals with regional unity, had to build a type of integration that went beyond the economic initiatives that the ALBA and other integration organizations had built so far constructed.
“ALBA is a political project” based on “solidarity, integration, and being the owners of our own destiny”, said Correa. “We should not reduce integration to the search for markets.”
FX University Daily: Wednesday, December 16, 2009
Adding Insult to Injury
Two New Super-Currencies
Take Aim Against the DollarNew Bolivian Alliance Forms Their Own CurrencyAn Even Scarier Development in the Gulf States… The Biggest Dollar “Disser” of 2009
Dear FX University Daily Reader.
The U.S. dollar has hit a three-month high against the Euro last week. The DXY (Dollar Index) is on a tear. It has been rising for the past couple of weeks.
And all the Dollar Bulls are dancing in the streets!
They’re calling an end to the dollar collapse. They are now projecting multi-month highs for the greenback. Some politicians are claiming victory by equating the two-week rise in the dollar to the rise of the U.S. economy.
I have been talking to you for several months about the U.S. dollar decline that we have been seeing. My apologies leaders, but a few weeks or an even month of rising dollar doesn’t change that long-term trend one bit.
If you are in this for the long run, a couple of dollar upswings should make no difference in your current view on the dollar. In fact, any short-term dollar strength is an opportunity to buy more foreign currencies on the cheap once the dollar continues its fall.
And quite frankly, I have not seen the dollar outlook as bleak as it is now EVER.
Here is another announcement that scares me even more:
“The Gulf monetary union pact has come into effect,” said Kuwait’s finance minister, Mustafa al-Shamali, speaking at a Gulf Co-operation Council (GCC) summit in Kuwait.
In other words, they are ALSO talking about a single currency. At this time, they are still debating which currency this new Gulf currency will be pegged to. Now they have been discussing this new currency for years now, so it’s not really breaking news.
But still, the timing of this pact is quite disturbing.
With the recent Dubai debacle, the formation of this new Gulf monetary union and potentially a new currency is being seen as a breakthrough in the stalemate while UAE and Dubai have grown weaker. Also, the new Gulf monetary union will set up its headquarters in Riyadh, Saudi Arabia.
And we were led to believe that Saudi Arabia is a strong partner of the United States. The deep economic ties and historical ties are being tested and the cracks are appearing clearly.
Ignorance Isn’t Always Bliss…
Folks, I am not an alarmist. I am not even buying into these incidents fully.
As long-time readers know, I am a pragmatist and a realist. But these two incidents are certainly unnerving. And what amazes me is how the U.S. mainstream media can dedicate whole days worth of air time to Tiger Woods, his “transgressions,” his mistresses and even his mother-in-law, but does not bother to report when two international groups are making strategic steps against our home currency.
Now the people in power are scared because “The problem now is that people are beginning to understand that monetary inflation is theft. If you trade your labor for wages paid in the form of cash, and the government devalues that cash, it’s stealing your productivity. It’s trading its paper product for the fruits of your labor at a discount. It’s cheating you. Gold doesn’t cheat you. It doesn’t love you either. It doesn’t do anything. That’s why people prefer to hold some of their wealth in that form, for those times when they are being cheated by government.”
“Well, that’s pretty much all the time isn’t it?”
“You know what H.L. Mencken said about elections in democracies? He said they are an advanced auction of stolen goods. There’s a whole lot of stealing going on these days. A fiat money system is systematic theft because it’s based on unsound money. That’s what’s being exposed by this financial crisis. The entire funding model of the fiscal welfare state is collapsing because it’s based on debt and fraudulent, counterfeit money.” 2010 is going to be quite interesting.