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| -Signs, Portents, and the Weather- | ||
| Ominous Financial Rumor | ||
| 2009-06-25 | ||
In its current issue, The Harry Schultz Letter (HSL) reports rumors that "Some U.S. embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Some embassies are being sent enormous amounts of U.S. cash to purchase currencies from those governments, quietly. But not pound sterling. Inside the State Dept., there is a sense of sadness and foreboding that 'something' is about to happen ... within 180 days, but could be 120-150 days."
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| Posted by:Anonymoose |
| #15 Soros needs to drop dead of a massive cerebral hemorrhage or similar. Real Soon. |
| Posted by: OldSpook 2009-06-25 23:31 |
| #14 I forgot to mention I stock a very large pantry, and can stand an extended power outage if needed. that olus a grand in cash and I can weather nearly anything , als o 5 gallons of gas put away, (my truck gets 22 mpg) (If anyone plans to steal my reserves, I'm also well armed, don't try it.) |
| Posted by: Redneck Jim 2009-06-25 20:37 |
| #13 I own 1000 shares of GMGMQ (bankrupt GM,) it's hovering around 1.10 to 1.25 and i plan to sell if it gets to 1.25 or better, and yes I CAN afford to lose one grand if necessary, I personaly think Ford is a good longterm, but I trade. |
| Posted by: Redneck Jim 2009-06-25 20:33 |
| #12 Denninger over at market-ticker thinks it's preparation against flu pandemic. It's now flu season in the S. hemisphere and apparently Argentina's healthcare system is feeling the strain. http://market-ticker.denninger.net/archives/1160-Paranoid-Rantings.html |
| Posted by: Plastic Snoopy 2009-06-25 16:16 |
| #11 This is some fucking speculator trying to move the needle on a slow news day. That being said, I'm doing my damnedest to buy something tangible with my savings before the dollar drops like a rock. It doesn't have to "implode" like Douchebag J. Speculator claims to still lose a fuckload of value in the next three and a half years of raging socialism. |
| Posted by: Mitch H. 2009-06-25 15:39 |
| #10 Everyone recognizes the value of a common reserver currency But it doesn't mean you have to have one. A system where countries kept their reserves in a trade weighted basket of currencies would work perfectly well. Although at the cost of more currency volatility. If the USD gets highly volatile then the point of a reserve currency largely dissapears. |
| Posted by: Phil_B 2009-06-25 14:24 |
| #9 This rumor like most, is garbage. Everyone recognizes the value of a common reserver currency, and there are no viable competitors to the dollar now or for the foreseeable future. |
| Posted by: flash91 2009-06-25 13:41 |
| #8 You mean even our embassy in ZimBobwe is buying the local currency? Dollars for Bob notes? Really? |
| Posted by: Abu Uluque 2009-06-25 12:59 |
| #7 When Soros name is mentioned, I detect the smell of burning sulfur in the air. |
| Posted by: JohnQC 2009-06-25 09:50 |
| #6 I smell Soros. He thrives on chaos and gets rich when things collapse. |
| Posted by: Parabellum 2009-06-25 08:42 |
| #5 a NORK hit on, say, Japan or an Israeli strike on Iran would almost certainly cause the dollar (and gold and the British pound) to go way up in value (and equities would take a major hit, except maybe Boeing, Lockheed, etc.). Chinese upward reevaluation of their currency (yuan) would likely have about the opposite effect. |
| Posted by: Lord garth 2009-06-25 08:26 |
| #4 The tipping point could also be an Israeli strike on Iran or a NORK strike elsewhere. Not a pleasant time I'm afraid. |
| Posted by: Besoeker 2009-06-25 07:58 |
| #3 Some currency speculator who has shorted the dollar. Like to see if Soro's Quantum fund took a new position. |
| Posted by: ed 2009-06-25 07:43 |
| #2 Goodbye you scumbags in Washington DC and your fantasy land. Jerkoffs. Curse you o your way down. You destroyed a global market for your own personal edification. Hope you are happy. |
| Posted by: newc 2009-06-25 05:29 |
| #1 Something like, perhaps, China refusing to purchase our debt and the dollar collapsing? |
| Posted by: tipover 2009-06-25 00:32 |