Bob Chapman: The Dollar Has Lost The Currency Battle!
- Bob Chapman - the Financial Survival – 30 March 2012 : The BRICS have decided to create their own bank , this will cause tremendous problem to the US , the BRICS being half of the population of the world , America won’t find anybody to buy its paper money , dollars and T bills , this means that the FED will have to print more money , America have already lost the currency war says Bob Chapman ….
- Some Hopes For Rebounds Will Only Fall Flat!
by Bob Chapman, http://theinternationalforecaster.com/
March 28 2012: Operation Twist, embargos, smoke and mirrors, the american city is in trouble, boomers retire into the pension crisis, the fastest fall on record, Spain wants more time to solve their euro problems, swiss recession, housing rebound chagrin, Fed under warning over low rates, housing hype, Moody’s slashing credit ratings of Detroit debt.
Seven months after the official announcement on 9/21/11 of “Operation Twist” not much progress has been made at the long end of the market to reduce yields. The yield on the 10-year T-note has gone from 1.88% to 2.3% and the 30-year bond went from 3.03% to 3.41%. The episode has been marred by hedge fund and sovereign selling, which has left the short end a little higher, but the long end much higher. The question now is how much did this cost the Fed for such disappointing results? Or in fact was this really their objective? We may never know, because the Fed hides what they do not want anyone to know.
These results might not seem important but US Treasury instruments are the foundation of the global monetary system. If yields continue to increase, like they are, it forces the Fed into QE 3, which we believe is inevitable. Other nations are not cooperating, as we saw in January and February that US banks bought more government paper than they had in all of 2011. If this continues the banks will be forced to lend. That could cause a minor recovery and more inflation. That is not something the banks want to do. They want the safety of low yielding Treasuries that is why they still sit on $2 trillion in Treasuries. As of yet stock markets may be trending higher based on recovery, but we are yet to see a follow through. Recent statistics tell us generally speaking the public is out of the stock market. We believe because they do not see recovery either and many are listening to alternative radio and getting news from the Internet, which tells them of the massive markets manipulation that the US government and the Fed are engaged in. You cannot win unless you understand what they are up too.
The embargo sanctions against Iran we have spoken about on the air and in this publication. We figured out long before almost all others that these moves had to be some of the stupidest in history. The elitists have this time shot themselves in both feet. SWIFT is very important, because it settles almost every instruction in US dollars. Denying the system to other currencies is foolish. The players in dollars can create something similar to swift code or have some other front for them. End running oil shipments are even easier. As a feeble answer the US will sell oil from its oil reserves to try to reduce prices. This action is nothing but smoke and mirrors.
It is no secret that municipalities all over America are in serious trouble. Their pension plans and those of companies are vastly underfunded and little is being done to solve the problem. In 1983, 62% of Americans had pension plans. Today that figure is 17%, but this is still a large group of future participants, who for the most part are not going to get what they paid for and some, will end up with nothing. The reason for municipal failures for the most part is that pension and health care plans were never properly funded, investment results were terrible and incompetence was the order of the day. Corporate managers did not do much better. We call this the pension bomb and it has finally arrived, late but lethal.
The terrible part about all this is that the pension plan you are counting on might not be there for you when you need it. You may also not be able to take it from the pension writer leaving you with absolutely no control. Being generally ignorant to most of these facts Americans have little put away personally for retirement. They are short close to $7 trillion.
For the next 20 years 10,000 baby boomers will retire every day, which presents a crisis of spectacular magnitude. Some will get partial checks from Social Security and pensions or perhaps nothing at all. Now you know why you have to invest into gold and silver coins, bullion and shares. They are your only protection. In addition if the Dow falls back to 6550, as it recently did, we could be looking at 50% losses in pension fund stock investments. Already the total amount of unfunded pension and health care obligations for just state and local governments in the US is $4.4 trillion. We hope you have gotten the message?
Unfortunately Spain is experiencing an accelerating fall in property prices that has been expected for some time. Spaniards expected higher prices, which turned out to be wishful thinking. The economy is saddled with depression. Unemployment is 23% and youth joblessness is close to 50%. Austerity reigns and all the seeds of revolution have been planted. In response at demonstrations the police have been brutal. If you want a violent revolution, that is the way to start it. As depression grows, so does discontent.
The banks mostly owned by outsiders are basket cases waiting for a bailout, which, of course, will be paid for by the people. We are talking about the fastest fall on record. Those prices fell 11.2% in the 4th quarter yoy, and versus 7.4% in the 3rd quarter. This kind of fall is similar to what occurred in the US after the 2008 credit crisis. Banks that have been holding defaulted loans in construction and real estate worth $520 billion are far more than bankrupt. That is a monstrous debt and it will have to be dealt with along with sovereign debt of $1.5 trillion. That is not a pretty picture.
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April 2, 2012 - Posted by mosesman | Economics, GeoPolitics, Social Trends | Bailout, Bankruptcy, Collapse, Currency, Eurozone, Fascism, FederalReserve, Fraud, Gold, GreatDepression, Hyper-inflation, Illuminati, Iran, Meltdown, New_World_Order, oil, Silver, Spain, Unemployment, Unrest, US, War
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Societal and economics observer and commentator with an endtimes, future history perspective. Follow me at Twitter: socioecohistory
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