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Currency Woes - 3/13/2008 7:21:08 AM   
Kirata


Posts: 15477
Joined: 2/11/2006
From: USA
Status: offline 		As I sit here watching a live feed from my forex broker, I have to wonder what Bush can be thinking to send Cheney to the Middle East seeking an increase in oil production to bring gas prices down. The poor man is going to look like an idiot.

There is no current imbalance in oil supplies and demand. The dollar-denominated price of oil is up because the value of the US dollar is down, hugely down, thanks to the Federal Reserve's sub-prime mortgage crisis "solution" of gutting the dollar's value through rate cuts (while sanctimoniously asserting a "strong dollar" policy).

This hands the bill directly to you and me, and we are paying it in the form of higher gasoline prices and very soon higher food prices, because the shrinking value of the dollar is forcing all dollar-denominated commodity prices to adjust upward, including basic food components like vegetable oils and grains.

The Fed conceives its mission to be maintaining a balance between growth and inflation. The European Central Bank, on the other hand, has a different, single, mandate: Price stability. It should be obvious at this point which one has its priorities straight.

K.

< Message edited by Kirata -- 3/13/2008 7:22:02 AM >
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RE: Currency Woes - 3/13/2008 7:27:05 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		Dude- the fed needs to raise interest rates and back teh currency by gold.   

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RE: Currency Woes - 3/13/2008 7:44:29 AM   
RealityLicks


Posts: 1615
Joined: 10/23/2007
Status: offline 		Kirata, prior to the attck on Iraq, Saddam began trading oil in the Euro - the world's strongest currency.  Now Tehran is set on competing with NYMEX (and London's IPE) by using a Euro-based international oil-trading mechanism.  Hence, scare stories about a "nuclear missile threat" which simply does not exist. 

Putin, naturally, is in favour of such a move.  Although it would virtually guarantee lower prices at the pump and definitely guarantee greater stability, it does not match neo-con objectives for a US dominated 21st Century.  The thought of competing on a level playing field somehow doesn't appeal.

That's why Admiral Fallon had to go and why an assault on Iran is a near-certainty.  Look to be paying even more for your fuel when it happens - world domination does not come cheap.
 

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RE: Currency Woes - 3/13/2008 7:46:44 AM   
kittinSol


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quote:

ORIGINAL: RealityLicks

Kirata, prior to the attck on Iraq, Saddam began trading oil in the Euro - the world's strongest currency.   



Which really pissed off the US. I'm convinced this helped tilt the balance in favour of the invasion.

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RE: Currency Woes - 3/13/2008 7:49:37 AM   
meatcleaver


Posts: 9030
Joined: 3/13/2006
Status: offline 		Well I guess what you gain on the roundabouts you lose on the swings.

Shopping in New York is dirt chap though!

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RE: Currency Woes - 3/13/2008 7:51:06 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		...fiscal responsibilty will lead to a stronger dollar.  the course is a roller coaster with no brakes for now.  bush could play a violin while lesbians wrestly naked in a mud pit-and it doesnt negate that 2bln more poeple compete now- in addition to the usual folks.

bush has become irrelevent.

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RE: Currency Woes - 3/13/2008 8:17:17 AM   
RealityLicks


Posts: 1615
Joined: 10/23/2007
Status: offline 		Exchange rates aside, Meat (and yes we love those!) it is incredibly telling that having to shore up the currency on a weekly basis hasn't led America to look forward but to look backward.  Maybe they have something to learn from the countries of "Old Europe" on adapting to change rather than trying to halt it, in bloody holding actions across teh Middle East.

To add:  America should join the Euro!

< Message edited by RealityLicks -- 3/13/2008 8:18:28 AM >

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RE: Currency Woes - 3/13/2008 8:56:08 AM   
meatcleaver


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quote:

ORIGINAL: RealityLicks

Exchange rates aside, Meat (and yes we love those!) it is incredibly telling that having to shore up the currency on a weekly basis hasn't led America to look forward but to look backward.  Maybe they have something to learn from the countries of "Old Europe" on adapting to change rather than trying to halt it, in bloody holding actions across teh Middle East.

To add:  America should join the Euro!


I found it ironic when Rumsfeld was criticizing old Europe for arguing against war, the real old Europe would have scoured the land for extra divisions to send to war against the fuzzy-wuzzies. He just showed how out of touch he is, Europe has renewed itself and there isn't any going back to old ways, barring a few minor glitches like Blair.

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RE: Currency Woes - 3/13/2008 6:35:26 PM   
RealityLicks


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Status: offline 		Rumsfeld knows well what he's doing.  He's just trying to ensure that the American public remains unaware of the world outside their borders, panicking them to believe that their friends are really enemies-in-waiting.  That way they're easier to control.

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RE: Currency Woes - 3/13/2008 6:46:24 PM   
Real0ne


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Forex trader eh?

Yep no shit hey?  The federal reserve was created by wahrburt and pushed through congress to be speculatory!  That is their only function really.  They do not give a rats azz what happens to the dollar as long as they dont have every politician ready to break their doors down and shoot them.

They are the same bunch.  No difference between the eu and us in as much as different offices in the same building sort of thing.

How do you like it that we get to be invoiced for a deficit at 1/2 value then pay it back at lower inflation and twice value which poblably is not a pure 4 times the invoice but I bet you are looking at least 3 times the invoice value by the time its all said and done!

As far as what is being said its all bullshit and america is none the wiser and the few that are cant do to much but whine as we all head to the poor house. 








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RE: Currency Woes - 3/13/2008 6:50:15 PM   
Pyrrsefanie


Posts: 1222
Joined: 9/18/2007
From: NEW HAMPSHAAAAAAH!
Status: offline 		...I thought the reason gas prices were going up was because of the transition to the summer-formula gasoline and a vital chemical component of that being in short supply?

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RE: Currency Woes - 3/13/2008 6:54:04 PM   
RealityLicks


Posts: 1615
Joined: 10/23/2007
Status: offline 		Are you taking the piss?

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RE: Currency Woes - 3/13/2008 7:16:53 PM   
Pyrrsefanie


Posts: 1222
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From: NEW HAMPSHAAAAAAH!
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quote:

ORIGINAL: RealityLicks

Are you taking the piss?


What?

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RE: Currency Woes - 3/13/2008 7:45:23 PM   
Hippiekinkster


Posts: 5512
Joined: 11/20/2007
From: Liechtenstein
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quote:

ORIGINAL: pahunkboy

Dude- the fed needs to raise interest rates and back teh currency by gold.   
Those "free market" bankers have carwled up their own assholes waiting for a taxpayer bailout, and meantime, aren't lending any money. Why do you think they'll lend money if rates are raised?

Am I the only one who remembers the Reagan/Bush S&L ripoff?
" L. William Seidman, former chairman of both the FDIC and the Resolution Trust Corporation, stated, "The banking problems of the '80s and '90s came primarily, but not exclusively, from unsound real estate lending." http://en.wikipedia.org/wiki/Savings_and_Loan_crisis
And here it is, not 20 years later, and the rethuglinazis do THE SAME FUCKING THING!!! Now they've looted the Treasury with their idiot invasion of Iraq, in addition, and where is the oversight? Ask that cocksucker Gingrich and his band of thugs with their Contract on America. I swear, if he still lived in my subdivision, I'd burn him out.

And I'm a man of peace, but anyone with a Bush/Cheney or McCain sticker next to that stupid fucking yellow ribbon (made in China) on their SUV  should be shot on sight. 

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RE: Currency Woes - 3/13/2008 8:29:16 PM   
Griswold


Posts: 2739
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quote:

ORIGINAL: Pyrrsefanie

...I thought the reason gas prices were going up was because of the transition to the summer-formula gasoline and a vital chemical component of that being in short supply?



Uhmmm.....no....it's some guys over in the Middle East.

(They'll almost certainly have something in the paper about it tomorrow...you can check me on this if you want to).

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RE: Currency Woes - 3/13/2008 8:39:04 PM   
Pyrrsefanie


Posts: 1222
Joined: 9/18/2007
From: NEW HAMPSHAAAAAAH!
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quote:

ORIGINAL: Griswold

quote:

ORIGINAL: Pyrrsefanie

...I thought the reason gas prices were going up was because of the transition to the summer-formula gasoline and a vital chemical component of that being in short supply?



Uhmmm.....no....it's some guys over in the Middle East.

(They'll almost certainly have something in the paper about it tomorrow...you can check me on this if you want to).


See, I'm never sure what the Hell the real story is behind the gas prices -- our newspaper here was giving the missing chemical component reason, then I hear others talking about the economy, and others saying that the oil barons are being jerks.

So thanks for clearing that up, heh.

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RE: Currency Woes - 3/13/2008 8:54:48 PM   
popeye1250


Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline 		Kirata, our govt is spending too much money.
They're spending money that we (the Taxpayers) haven't made yet.
Have you seen that bill in the senate S-2433? And that's on top of everything else!
If they really wanted to get gas prices down it's very simple and very effective to do, ration it!
All lisensed drivers get 20-25 gallons a week.
That would slam the brakes on oil prices but of course George Herbert Hoover Bush won't do it with all the friends he and Cheny have in the oil business!
As far as I'm concerned we have no "government" in effect in Washington now.
Bush can't even get the most basic of jobs done.
He's a fuckin' disaster!  A "legacy" admission from "YALE."

< Message edited by popeye1250 -- 3/13/2008 8:59:32 PM >

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RE: Currency Woes - 3/13/2008 10:55:26 PM   
UtopianRanger


Posts: 3251
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quote:

If they really wanted to get gas prices down it's very simple and very effective to do, ration it!




Nah....not a chance. If you want to see the price of gasoline come down---and I mean come way down--- have congress pass legislation that bars all hedge fund speculation ala uniform commodities.

No more hedge funds, brother -- Send them to the bottom of the ocean to reside with Bimini and the Atlantians.

And if you really wanna get radical -- You nationalize all of your essential natural resources and terminate their existence/make them not applicable within/to the false-free-market.




- R


< Message edited by UtopianRanger -- 3/13/2008 11:12:11 PM >

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RE: Currency Woes - 3/13/2008 11:25:21 PM   
awmslave


Posts: 599
Joined: 3/31/2006
Status: offline 		From Canadian point of wiew: Americans are damn lucky bastards, everything is cheap there.

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RE: Currency Woes - 3/13/2008 11:31:14 PM   
petdave


Posts: 2479
Status: offline
quote:

ORIGINAL: Kirata
This hands the bill directly to you and me, and we are paying it in the form of higher gasoline prices and very soon higher food prices, because the shrinking value of the dollar is forcing all dollar-denominated commodity prices to adjust upward, including basic food components like vegetable oils and grains.



That's okay... we'll just print more dough and mail it to everyone! Problem solved

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