From the United Kingdom Independent, October 6, 2009:
“The demise of the dollar”
“In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.
Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.
The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years.”
“The decline of American economic power linked to the current global recession was implicitly acknowledged by the World Bank president Robert Zoellick. “One of the legacies of this crisis may be a recognition of changed economic power relations,” he said in Istanbul ahead of meetings this week of the IMF and World Bank. But it is China’s extraordinary new financial power – along with past anger among oil-producing and oil-consuming nations at America’s power to interfere in the international financial system – which has prompted the latest discussions involving the Gulf states.
Brazil has shown interest in collaborating in non-dollar oil payments, along with India. Indeed, China appears to be the most enthusiastic of all the financial powers involved, not least because of its enormous trade with the Middle East.
China imports 60 per cent of its oil, much of it from the Middle East and Russia. The Chinese have oil production concessions in Iraq – blocked by the US until this year – and since 2008 have held an $8bn agreement with Iran to develop refining capacity and gas resources. China has oil deals in Sudan (where it has substituted for US interests) and has been negotiating for oil concessions with Libya, where all such contracts are joint ventures.”
Read more:
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
Citizen WElls 
Not good…
Greg.
Fox News is about to report on this, next minute.
If you have a lot of money in US Dollars, you better start buying Gold asap!
It’s at $1,035.00 per/oz right now, and expected to rise much more.
We’re all going to wake up one morning, in the not so distant future to the news, that the U.S.Dollar has officially collapsed.
It is coming.
China also has the Brazil Oil deal we talked about on the previous Olympic thread. We financed it, China gets the bulk of the oil.
The South,
…and if you have a lot of U.S. dollars, pay down or off your debt while the dollars are still “worth” something.
Black Tuesday
JustMe.
Yes, it would be wise to pay off all debt with the dollars you still have, then start buying Gold.
Saw the dollar collapse coming last year. If you haven’t bought gold by now, you will probably not get any as it was very hard to buy last year as it was scarce then.
Actually if you have debt, you want to pay it down after the devaluation.
What you do what to do before devaluation is move your source of income to somethign independent of dollars, and your assets likewise.
Gold, silver, platinum, and realestate
Also store up on supplies such as non perishable foods, medicines, and other needs in the event the delivery systems are interupted and the stores become empty.
Also think about self defense…it wouldn’t hurt to have a firearm with enough ammo in the house. If anyone is not familar with firearms take some classes while there is still time.
reposting as requested by Linda fm NY:
World Bank welcomes new economic order
http://www.blacklistednews.com/news-5839-0-13-13–.html
http://www.breitbart.com/article.php?id=CNG.e272eaa74dccc30f21c6ff7638b0f37b.461&show_article=1
This is another way for China to say we won’t let the U.S. build up more debt.
I was told to forget debt and stock up on gold and non-perishables with whatever cash you had….while you could still use it. I bought as much gold as I could afford. Would love to get more.
Oh…btw…..in light of the debunked video of the last thread, I revisited fema camps…coffins etc….
I feel better now. I am angry at the folks who would farm such propaganda,but I am glad that I have been taught another lesson in the art sifting fact from horse droppings
http://www.popularmechanics.com/technology/military_law/4312850.html
bob,
The next time you are in LA, go down to Cajun country and order any one of their delicious frog dishes…you be amazed; its just like chicken…
http://www.resistnet.com/forum/topics/obama-staff-forgets-to
You all have to see this now!WOW!!!!
Swallow that frog fast!! If you don’t, it will get larger in tha mouth!!
trying this again, as requested by Linda:
http://www.telegraph.co.uk/finance/currency/6263992/Dollars-demise-plotted-by-oil-producers-China-and-France-report-says.html
GB America-
A picture is worth a thousand words!
Karl Denniger is a man who knows his stuff about the economy. It is worth checking out his videos.
the market rallies when dollar goes down
we are now in seasonally weak phase of the market, i expect it to go down and when that happens the dollar typically rallies
exception : world event or financial crisis , then EVERYTHING goes down. Except perhaps GOLD, example, last year Sept.
What this country DOES NOT need are more expensive, progressive programs….Cap and Trade, Health Care Reform, Bailouts, Bailouts and Bailouts!!! What we DO need is confidence and massive tax cuts to get this Nation rolling. Everyone is in a “neutral” gear, afraid to invest in anything until we know exactly which direction this country is heading. No large companies are expanding (those evil oil and gas companies), no small businesses are hiring, banks are not loaning,consumers aren’t spending, etc, etc. I didn’t vote for this agenda, but I am sure this is not the Hope and Change those that voted for Obama expected. The only obvious conclusion any reasonable person can form is this is an INTENTIONAL assualt of this great Nation.
This country is sinking fast and the masses better wake up and demand that we change direction. Cut taxes for large and small business…get the jobs going immediately. Drill, drill, drill….the economic and emotional booms in the drilling areas would be unbelievable. We are blessed with countless natual resources that need to be explored. Those “Evil” companies have the knowledge and the equipment and they are “shovel ready”. This entire country depends on proven energy…not the “green” crap that is eons down the pike. Preserve our dollar, develop our own proven energy, get the people back to work and maintain the dignity and status we have earned.
This progressive agenda is selling our great country down the river. How dare we allow this to happen. Think of all the American lives sacrificed in defending this beloved land. We cannot let those deaths diminish in vain.
We need to prove to the rest of the world what made us great and tell the socialists to kiss our “collective” (no pun intended) asses!
God Bless and Protect America!
Sandy,
my post about paying off debt was primarily the idea of things like mortgages/cars, etc… so that the gold/silver you have on hand can be used for day to day living essentials, etc. High credit card balances will probably be defaulted on anyway, by many so….And yes…stocking non perishable items are a given.
Pelosi says new tax is ‘on the table’
A new value-added tax (VAT) is “on the table” to help the U.S. address its fiscal liabilities, House Speaker Nancy Pelosi (D-Calif.) said Monday night.
The VAT is a tax on manufacturers at each stage of production on the amount of value an additional producer adds to a product.
http://thehill.com/blogs/blog-briefing-room/news/61783-pelosi-says-new-tax-is-on-the-table
IMO the VAT tax would be instead of income tax, NOT in addition to it!
The IMF (International Monetary Fund) is responsible for taking down economies worldwide. It should be of grave concern to all of us that they are going to be the new Central Bank. I think I posted a link to that recent article on the other thread. That’s what came out of the recent G-20.
A partial list of take downs:
Russia
Indonesia
Argentina
Yugoslavia
Ukraine
Zimbabwe
Thailand
Argentina was once the world’s seventh-richest country and was unable to stand up to the IMF for long.
We have to kick out the bankers, end the FED and start anew. Russia did it. Iceland is doing it. Otherwise we will join the list above.
This is actually a gold message in a charcoal wrapper. Our over-reliance on the dollar’s user overseas has made us weak.
Who needs a strong dollar overseas when we are self-reliant?. That’s what made the dollar strong before. It was not the gold backing our currency. When we have no debt and need nothing from other nations, we will become the strongest nation in the world. It was our ability to serve ourselves and the world with our goods and services that made our currency strong.
“dollar’s use” not user. Sorry.
Jesus needs to drive the moneychangers from the Temple again.
an FYI
The conflict between Jesus and the moneychangers in the Jerusalem Temple is one of the very few events in Jesus’ life which is described by all four gospels.
LJ-
I had bought a small amount of silver & even less of gold (American Eagles) a few months ago on Ebay. I saw a listing a few days ago (I missed out because my husband was unsure). It was for a tube of 20 gold American Eagles for $21,999. That’s like $1,100. per oz. Think I should have followed my gut. I see lots of people paying more than that. Your opinion, please, or anyone else’s for that matter?
Also, any thoughts are welcome, but I don’t think anyone really knows, at this point. I told my accountant & advisor a year ago that I felt the dollar would collapse & they kind of scoffed at me. But, anyway, I am considering paying my house off now (not after the devaluation) because I am concerned that if they go to another currency they will offer us something like $2,000. on $10,000. (for example), but the mortgage payoff will remain the same. That would result in it costing more. Oh, My, I am SO CONFUSED, like everyone, I am sure. My crystal ball is broken.
“Vaccine recommended even for those who’ve had swine flu”
http://www.ksl.com/?nid=148&sid=8187075#
Does this make sense to anyone? If you’ve already had the Swine Flu virus, why should you get the vaccine?
Platinum is going up, but not as much as gold is:
http://www.kitco.com/charts/liveplatinum.html
Grab as much platinum as you can. It will maintain most of its value once the precious metals market deflates.
Patriot Dreamer:
I agree. Something is amiss. I do not trust the CDC or any of this. They reported that 28 pregnant women have died of H1N1. You’d think they would’ve reported 2, then maybe upped it to 5, with some details first or something. Who, what, when & where? How far along were they in their pregnancies? Were they able to save the babies, etc. They can report anything they feel like reporting. I don’t trust any of this.
GBAmerica 2:05pm.
Thanks for that snap shot. But did anybody really that to verify the misrepresentation by this administration?
I think the people are well beyond that point.
Nancy // October 6, 2009 at 2:52 pm
Nancy, I followed my son’s advice. He was reading articles following the market and junk bonds, etc. He closely watches Jim Willie
http://www.goldenjackass.com/main5.html.
The problem here is that money has to be backed by something. When you monetize the money as the Feds have done and been doing, all that is going to come is that sooner or later you are going to have to pay the piper. The world is not going to keep buying up worthless paper and that is essentially what they have done. Bernie Madoff has nothing on the Fed, as they have created the biggest Ponzi Scheme in history. Gold and Silver has been historically the worth of backing money. I fear that the coming collapse will make the Great Depression a holiday at the beach.
HonorFirst // October 6, 2009 at 2:26 pm
What this country DOES NOT need are more expensive, progressive programs….Cap and Trade, Health Care Reform, Bailouts, Bailouts and Bailouts!!! What we DO need is confidence and massive tax cuts to get this Nation rolling. Everyone is in a “neutral” gear, afraid to invest in anything until we know exactly which direction this country is heading. No large companies are expanding (those evil oil and gas companies), no small businesses are hiring, banks are not loaning,consumers aren’t spending, etc, etc. I didn’t vote for this agenda, but I am sure this is not the Hope and Change those that voted for Obama expected. The only obvious conclusion any reasonable person can form is this is an INTENTIONAL assualt of this great Nation.
******************************************
Honor…I believe this is what we the people have been saying….however….until we clean up the corruption in DC none of this will take place….we need a Sarah Palin type who is not afraid to take down her own party….I think Beck is on the road to trying to find these people who are presently in the government….last I heard he had 5 elected officials who want to clean up the corruption in their own parties….don’t know which party and who they are…he is keeping it anonymous!!!
Here are debts you DON’T want to pay off whatsoever during this financial crisis we are in:
1. Student loans
2. Mortgages
3. Credit cards
4. Any debt to banks run by the federal usurping government
Let the tyrannical government deal with the mess they created. Walk away from the debt if you have to (that means if you lose your job, turn in your house keys to the bank). Pay off your vehicles, or sell and buy a used one with cash. Do not repay any debt in full that comes from banks who don’t have any control over your personal belongings. Pay absolute minimums on any debt and continue to pay it until the dollar strengthens.
That’s how you do it. Otherwise expect to get into trouble once the unemployment rises over 30%, which it will by next summer.
Jeff M,
Exactly. Russia did it and did it fairly quickly. But, if they are pulled/pushed into war then they will need the bankers to survive. See the game? The bankers fund both sides of the war.
**** New Post ****
#
JeffM // October 6, 2009 at 2:50 pm
This is actually a gold message in a charcoal wrapper. Our over-reliance on the dollar’s user overseas has made us weak.
Who needs a strong dollar overseas when we are self-reliant?. That’s what made the dollar strong before. It was not the gold backing our currency. When we have no debt and need nothing from other nations, we will become the strongest nation in the world. It was our ability to serve ourselves and the world with our goods and services that made our currency strong.
*******************************************JeffM…I believe you are quite correct…the reason we are not self reliant anymore is because it is cheaper for business to move else where where they are not taxed to death….as far as oil we have plenty of it and natural gas is they would only start drilling….can you imagine how many jobs this would create????
JustMe,
We don’t need bankers to survive. We need industry to survive. We have all the natural resources in the world to wage war on any nation and do it fast. WWII was a prime example of this.
Jacqlyn Smith,
If we closed our borders right now, within 12 months we would be producing all our own goods and literally kicking proverbial BUTT getting back on track.
It worked for the Japanese, the Russians, and the Chinese. It can certainly work for us.
JeffM,
What if the credit card rates sky rocket? Still let it ride?
#
JeffM // October 6, 2009 at 3:18 pm
Jacqlyn Smith,
If we closed our borders right now, within 12 months we would be producing all our own goods and literally kicking proverbial BUTT getting back on track.
It worked for the Japanese, the Russians, and the Chinese. It can certainly work for us.
******************************************
Right again….that is why it is quite evident that the FRAUD and his cronies are out to destroy this country…otherwise why would they be doing the exact opposite???
http://www.reuters.com/article/gc05/idUSTRE58O2MZ20090925
A hybrid plan? Great resolves accountability dilemmas as well saving your democratic votes for the health care plan.
Other objectives like victory as the Prez says is not in the cards.
JeffM,
I know we don’t need the bankers. I said we need to kick ’em out and star anew.
That’s why Beck and others have said you have to know what you are willing to live without.
Thanks LJ & JeffM: I wonder if there is even any possible way to protect our assets. I think they destroyers of our republic may have all bases covered. We have a drywall business, which was profitable for many years. We have been funding it with our savings for quite some time now. My husband is frantic & looking to invest our savings into a different business. I am trying to be supportive, but telling him we should not just jump into something out of haste & fear.
He is looking into things we have no knowledge of to support our family. I think he is beginning to listen to my “gut” & I am doing my homework to educate ourselves about doing this. This is our savings & retirement! I have learned that there are ALOT of people out there that are becoming desparate & ready to scam. I’m afraid, skeptical about all of this. I can hardly even sleep anymore.
Jacqlyn-
Yes, I believe you are correct. This is well-engineered & being done intentionally so they can take control.
Nancy // October 6, 2009 at 3:40 pm
Hi, Nancy,
I’m not really that smart investment wise and I sure would not want to tell anyone what to do with their money. I would be the last person on earth to say, put your money here, LOL. Everyone’s investment took a big hit last September. We were probably more scared than most because we only had a small amount invested. (And that was all we had for retirement. We didn’t have much cause we started late.) We pulled it all out because we figured if they couldn’t stop the bleeding, we would lose everything. But you have to remember that the money you use is Federal Reserve Notes. Not backed by anything so what we pulled out is basically their money which will soon be rendered worthless unless you put it into something that does not have their name on it. imho. I still could be wrong. Like I said, I’m not the sharpest tool in the box.
Prairie,
Here’s the trick with credit cards you can’t repay within the next 2 years. If you can repay it, go for it. But if you can’t and you default, it goes to collections.
When that happens, it’s settlement time, meaning you pay 1/2 of what you owe in a one time fee and the rest is “written off as an expense” by the bank.
This is how things work. Remember, by next summer about 20% of the people in this nation will be in default because they have no job and no money. You’ll fit in and by 2015 you’ll be back on your feet with fresh credit because you have a real excuse not to be able to pay back your debts.
Nancy,
trust your gut, always.
Insofar as retirement goes, I don’t think any of us will be retiring anytime soon. There’s lots of work to be done to get this country back on her feet.
For what it’s worth technical analysts in the financial field are stating that if gold held today over 1030 (today closing at 1041) gold will climb to 1075 over the next week or two.
Also the price of gold will be aided by Indian wedding ceremonial traditions that spike in October due to heavy use of gold.
Then what happens if the government confiscates all gold again? I am suspicious because of all the commercials on tv telling you to Buy Gold!
Kim,
That’s why you should buy platinum.
JeffM,
What if they confiscate gold, platinum and silver?
Axel Rod meeting with Fox news founder.
http://www.politico.com/news/stories/1009/27982.html
JeffM // October 6, 2009 at 4:20 pm
Platinum is currently $1320.oo an oz. Pretty pricey!!!
The US will need gold to buy oil.
G Gordon Liddy is a convicted criminal but there he is on tv saying you should buy gold.
Maybe they are pushing us to buy gold now because the price is so high.
Let’s check and see how Obama’s credibility is doing, o.k. ?
Gold should be trading in excess of $2,000 per ounce. It has been intentionally supressed to keep the dollar strong.
Prairie // October 6, 2009 at 4:22 pm
Looks like the WH is upset with Fox not promoting Obunion?
You can’t eat gold but maybe you can make a calf out of it to help us out of the wilderness…
Here’s a short article about dollar/gold/Fed Reserve
http://www.russiatoday.com/Business/2009-03-11/Suppressing_gold_price_to_keep_dollar_strong_is_over__Adrian_Douglas.html
JustMe,
Yes the Chinese want a gradual increase in gold price because of U.S. indebtness to them. They are trying to limit the rate of the devaluation of the dollar. So we can expect gradual growth gold.
venice,
How does one confiscate what one doesn’t have???
L J,
That’s about right for platinum. It swings between 1050 and 1350 and has for over 2 years. The current market value is not surprising at all.
JeffM,
I’m referring to the possibility that people may turn to silver and platinum as an alternative, in which case the gov’t will try to close all the loops. For the moment I agree it’s not a concern.
venice,
There will always be means to get precious metals. We’re talking about an Unconstitutional Federal Regime here. They don’t play by the rules, so why should any of us play by “their” rules either?
I agree, but on that basis why not choose gold? If gold is set to be part of the basket currency, it would offer people the best hedge.
Jacqlyn Smith ……..I am just venting my frustration. I have been watching Glenn Beck since he was at CNN and have been receiving his e-mails daily. I have been vigilant and active in this fight way before the election. I support any and all of you that are uncovering the ugly truths.
There has always been corruption in government; usually for personal gain or power. What is happening now is a major role reversal in the entire democratic, capitalistic system and it’s “in your face” corruption……..they are hiding nothing….but no Media coverage…too many blind (and complicit) eyes. Yep, there is corruption and it appears to be charging full steam ahead…….
Like I said…God Bless and protect America
**** New Post – 2nd notice *****
“Submitted on 2009/10/06 at 4:32pm
NEW UPDATE!
Here are the latest transcribed notes from Leo’s Jail Letters.
http://freeleohaffey.blogspot.com/2009/10/excerped-notes-from-leos-jail-letters.html
Aristotle the Hun
venice,
It’s because gold is going to be used as the primary currency. That makes it volatile.
Platinum has proven to be far less volatile, making it the ideal precious metal to base current market values on. It’s far more stable than gold because it is used more by manufacturing industries than any other metal.
Well,
If the idea is to be able to liquidate at any moment, then volatility is an important feature. So as always your choices depend on your current financial status.
Thanks Upstate Warrior. Even though there is no war in conventional terms, I think the U.S. lost the battle today.
Let’s hope it will know how to heal its wounds.
venice,
Agreed. That’s why you need gold on hand for cash flow and platinum on hand to protect long term investments, such as earnings and dividends from the current bobbling stock market.
The drop in the US dollar has been in the planning stage by the NWO for sometime. It is interesting to me they have tied it to oil.
Please, dear readers help me. Tell me what is wrong in my thinking.
It seems to me in my reading I learned not only does Alaska have enough oil to supply all of America’s needs for many years to come, there are gigantic under ground lakes of oil in the Montana and the Dakotas areas as well. Why do we continue buying Arab oil when we have more than enough in our own back yard?
It would seem to me that if we stopped depending upon foreign oil and use our own resources our dollar would stablize. Also, we need to return to the gold standard.
GBAmerica // October 6, 2009 at 2:05 pm
http://www.resistnet.com/forum/topics/obama-staff-forgets-to
You all have to see this now!WOW!!!!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Gb, they’ve already covered their a**es…right here…….Michelle Malkin………..
The physicians, all invited guests, were told to bring their white lab coats to make sure that TV cameras captured the image.
But some docs apparently forgot, failing to meet the White House dress code by showing up in business suits or dresses.
So the White House rustled up white coats for them and handed them to the suited physicians who had taken seats in the sun-splashed lawn area.
PLEASE ANSWER THIS QUESTION:
IF THE DOLLAR WILL HAVE NO VALUE,…. WHY WOULD PEOPLE WHO HAVE GOLD, SILVER AND ETC FOR SALE; WANT TO SELL IT FOR DOLLARS? IT WILL BE AS USE-LESS FOR THEM,….. RIGHT? SOMETHING JUST DON’T SEEM TO PASS THE SMELL TEST HERE GUYS? I MIGHT BE MISSING SOMETHING,…. SO PLEASE FILL ME IN……… OR AM I JUST THAT DUMB??????????
JOYCE
JeffM // October 6, 2009 at 3:11 pm
Here are debts you DON’T want to pay off whatsoever during this financial crisis we are in:
1. Student loans
2. Mortgages
3. Credit cards
4. Any debt to banks run by the federal usurping government
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I’ve been sitting here quietly wondering if all the advice I’ve read for months (some from you?)was wrong…thanks for covering all I’ve read.
JJ
Jacqlyn Smith // October 6, 2009 at 3:15 pm
HERE LIES BUSINESS…DEATH BY GOVERNMENT, LAWYERS, AND UNIONS
usapatriots,
I’ve asked the same question. There appear to be so far 2 responses. Mine which I don’t think really addresses the issue, and that is that homegrown oil costs more to extract and process.
The second, offered I think by someone on this blog is more compelling. The U.S. purchased Iraqi oil as an example, in exchange for buoying the value of the American dollar and therefore maintaining its primacy as the international currency.
I have been expecting this for some time. Citizen Journalists in the US should be looking closely at the workings of The Bank Of Intrnational Settlements in Switzerland. If you think back to the G20 summit in London earlier in the year, there were then members of the World Domination Sciety talking of a global economy with a single world currency.
There are also some rumours in the world of high finance that Sidi Barack Hussein Obama is deeply involved in the machinations of this shadowy body.