UN Says Global Currency Is Needed to Fix Broken ‘Confidence Game’ - DFWstangs Forums
 
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post #1 of 23 (permalink) Old 09-07-2009, 01:25 PM Thread Starter
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UN Says Global Currency Is Needed to Fix Broken ‘Confidence Game’

How is it that an orginization that has 80% of all assets/funding/military strength given to them from the U.S.A. believes that they can try to take the dollar out as the world reserve currency, without adverse- action from the United States? The only conslusion I can come up with is that it is with the U.S. govts approval...

Change is a commin'. I am constantly astonished at the breadth of these major events, and how little they are covered by the Media. 20 Years ago, this would have been pullitzer material.



http://www.bloomberg.com/apps/news?p...d=aSp9VoPeHquI

Quote:
Sept. 7 (Bloomberg) -- The dollar’s role in international trade should be reduced by establishing a new currency to protect emerging markets from the “confidence game” of financial speculation, the United Nations said.

UN countries should agree on the creation of a global reserve bank to issue the currency and to monitor the national exchange rates of its members, the Geneva-based UN Conference on Trade and Development said today in a report.

China, India, Brazil and Russia this year called for a replacement to the dollar as the main reserve currency after the financial crisis sparked by the collapse of the U.S. mortgage market led to the worst global recession since World War II. China, the world’s largest holder of dollar reserves, said a supranational currency such as the International Monetary Fund’s special drawing rights, or SDRs, may add stability.
Hey, Aren't those guys the biggest borrowers of our debt? The same one's that are supposed to fuel Obama's "Investments" in our new "Green" economy in the form of financing our $trillion deficits over the next ten years?

Coincidence? .................. I'm sure it is.
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post #2 of 23 (permalink) Old 09-07-2009, 01:44 PM
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Those conspiracy people aren't sounding so crazy anymore.

Our government needs our help, they have an addiction. Our government is addicted to our money. Since they always have our best interest at heart it's time we return the favor. We need to have an intervention, for the governments own good of course. It's just irresponsible for us to let people with a known money addiction continue to handle our money. Lets have an intervention now so we can help these sick individuals.

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post #3 of 23 (permalink) Old 09-07-2009, 01:59 PM Thread Starter
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Originally Posted by MR TINFOIL HAT View Post
Those conspiracy people aren't sounding so crazy anymore.


Dude, I am gonna rue the day when I have to apologize to you.... I'll have so much egg on my face, which will be convenient, since noone will accept my dollars in exchange for food anymore.

Hopefully the American People realize this shit and stop this nonsense before it gets that far.



Just in case, though. What model is your Tinfoil hat? Any particular style you could make for me?


I'm going for the Hadji look. What'll this run me?



Make it ASAP. My dollars are losing their value by the minute.

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post #4 of 23 (permalink) Old 09-07-2009, 02:04 PM
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Originally Posted by sc281_99-0135 View Post
Dude, I am gonna rue the day when I have to apologize to you....

Hopefully the American People realize this shit and stop this nonsense before it gets that far.



Just in case, though. What model is your Tinfoil hat? Any particular style you could make for me.


I'm going for the Hadji look. What'll this run me?

Yeah...can I get a tin-foil hat with the "Longhorns" stitched on it?

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post #5 of 23 (permalink) Old 09-07-2009, 02:49 PM
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here comes the new world order as projected.

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post #6 of 23 (permalink) Old 09-07-2009, 02:56 PM
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So would this be an appropriate time to buy gold? I've noticed it's already on the way up.

As the world focus shifts off of the dollar will gold prices go up?

Just interested to get your opinions

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post #7 of 23 (permalink) Old 09-07-2009, 03:11 PM Thread Starter
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Originally Posted by SleeperGTS View Post
So would this be an appropriate time to buy gold? I've noticed it's already on the way up.

As the world focus shifts off of the dollar will gold prices go up?

Just interested to get your opinions
I wouldn't go that far yet. Gold prices are still too high for my tastes.

Luckily, at the moment it looks like the rest of the world is in the same boat we're in.

I'm bullish on commodities right now. This can be a problem if Cap and Tax does become law. But if that happens, I think my money will be the least of our problems.

No matter what happens, we all know that Obamas "Green Economy" bullshit is gonna flop just like his stance on policies. So I am not assured that we are out of the blue yet.


I only follow the markets on a very general basis, as I don't have alot of time for the proper research. I would play stocks if I had the time, but I don't.

I am in commodities about 30%
I am also in a core bond fund (mid/long term Investment grade bonds mostly) that is hedged with a real return fund (tips, Ibonds, etc.) This gives a decent return with relatively low risk.

I feel I am in a good spot, but one can never be sure these days.


*I am not an expert investor by any stretch of the imagination. Take my advice for what you paid for it. *

Last edited by sc281_99-0135; 09-07-2009 at 03:18 PM.
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post #8 of 23 (permalink) Old 09-07-2009, 03:21 PM
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Quote:
Originally Posted by sc281_99-0135 View Post
Dude, I am gonna rue the day when I have to apologize to you.... I'll have so much egg on my face, which will be convenient, since noone will accept my dollars in exchange for food anymore.

Hopefully the American People realize this shit and stop this nonsense before it gets that far.



Just in case, though. What model is your Tinfoil hat? Any particular style you could make for me?


I'm going for the Hadji look. What'll this run me?



Make it ASAP. My dollars are losing their value by the minute.
You will never have to apologize to me. It's not our fault we've been lied to about the real truth. I just want people to know the truth about our country. Our government and media have created a deception that is hard to comprehend for the average person. Our media is a god damn amusement park, a fucking circus with smoke and mirrors, and the finest magicians our money can buy. When people understand the truth and level of deception that has been laid upon us, we will conquer these people and have a REPUBLIC which everyone can be proud of.

My hat is standard issue Reynolds Wrap btw.

Our government needs our help, they have an addiction. Our government is addicted to our money. Since they always have our best interest at heart it's time we return the favor. We need to have an intervention, for the governments own good of course. It's just irresponsible for us to let people with a known money addiction continue to handle our money. Lets have an intervention now so we can help these sick individuals.
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post #9 of 23 (permalink) Old 09-07-2009, 03:31 PM
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Originally Posted by sc281_99-0135 View Post
I wouldn't go that far yet. Gold prices are still too high for my tastes.
Luckily, at the moment it looks like the rest of the world is in the same boat we're in.
I'm bullish on commodities right now. This can be a problem if Cap and Tax does become law. But if that happens, I think my money will be the least of our problems.
I only follow the markets on a very general basis, as I don't have alot of time for the proper research. I would play stocks if I had the time, but I don't.
I am in commodities about 30%
I am also in a core bond fund (mid/long term Investment grade bonds mostly) that is hedged with a real return fund (tips, Ibonds, etc.) This gives a decent return with relatively low risk.
I feel I am in a good spot, but one can never be sure these days.

*I am not an expert investor by any stretch of the imagination. Take my advice for what you paid for it. *
I covered hard commodities at the hedge fund I worked for this summer. I agree, gold is not where I'd go for inflation protection. Too many big players, hard to estimate its fundamental value, and other issues. There are lots of other options for inflation protection. I still think commodities in general are overvalued right now. Copper certainly isn't trading on fundamentals. I generally look to copper for inflation protection. Freeport McMoran (FCX) has a normalized correlation with copper of .98, so that's the way I play it. I usually have money in TIPS as well. I don't think now is the time to be jumping full into inflation protection, I just don't see it happening over the next year or so. Gets much more questionable after that, mainly b/c of reasons similar to this article.
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post #10 of 23 (permalink) Old 09-07-2009, 03:40 PM
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I doubt we will ever have a mass currency conversion. but I do see a day coming soon where we will have a global electronic currency. and thats because money is moving so fast around the world, and currency values are changing every split second.

lately I have noticed in my own business dealing that the dollar is not always the currency of choice, even in asia a lot of the companies I do business with request payment in Euros now

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post #11 of 23 (permalink) Old 09-07-2009, 05:22 PM Thread Starter
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Originally Posted by slow99 View Post
I covered hard commodities at the hedge fund I worked for this summer. I agree, gold is not where I'd go for inflation protection. Too many big players, hard to estimate its fundamental value, and other issues. There are lots of other options for inflation protection. I still think commodities in general are overvalued right now. Copper certainly isn't trading on fundamentals. I generally look to copper for inflation protection. Freeport McMoran (FCX) has a normalized correlation with copper of .98, so that's the way I play it. I usually have money in TIPS as well. I don't think now is the time to be jumping full into inflation protection, I just don't see it happening over the next year or so. Gets much more questionable after that, mainly b/c of reasons similar to this article.
I don't see it being a huge deal until about a year and a half out, but I have always had bad experiences with trying to call tops and bottoms.

I am reminded fo the saying "In the land of the blind, the one eyed man is King" We're doing shitty right now, but everyone else is worse. So our debt is analogous to picking between the girl that isn't very attractive, but could look better after a few drinks, or the manatee in a skirt. You want neither, but you pick the one that least disgusts you.


As far as commodities. I'm mainly in natural gas and oil. Granted, natural gas isn't doing anything, but I feel it's too low not to hold onto right now.

I don't have time to trade anymore on a daily basis. When I have tried to juggle work, school, and the market, I failed miserably and lost money.

So I'm in for the long haul with my allocations to date. I feel they are fairly safe for me. As I contribute more and more out of my paychecks in the future, I will look for the opportunities with that money.


With rules changing on a daily basis. I am not sure what the next days politicking will bring.

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post #12 of 23 (permalink) Old 09-07-2009, 05:28 PM
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Quote:
Originally Posted by sc281_99-0135 View Post
As far as commodities. I'm mainly in natural gas and oil. Granted, natural gas isn't doing anything, but I feel it's too low not to hold onto right now.
I don't have time to trade anymore on a daily basis. When I have tried to juggle work, school, and the market, I failed miserably and lost money.
So I'm in for the long haul with my allocations to date. I feel they are fairly safe for me. As I contribute more and more out of my paychecks in the future, I will look for the opportunities with that money.

With rules changing on a daily basis. I am not sure what the next days politicking will bring.
Long term, I think the commodity space has an attractive story. I have to look over the next couple quarters when picking stocks. Nat gas is so damned cheap now, it's almost screaming "BUY ME!!" Coal is another way to play the nat gas space, cheap nat gas kills the coal market.
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post #13 of 23 (permalink) Old 09-07-2009, 05:33 PM Thread Starter
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Long term, I think the commodity space has an attractive story. I have to look over the next couple quarters when picking stocks. Nat gas is so damned cheap now, it's almost screaming "BUY ME!!" Coal is another way to play the nat gas space, cheap nat gas kills the coal market.

I'll have to look into that. I always thought it was Obama that kills the Coal market.
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post #14 of 23 (permalink) Old 09-07-2009, 05:41 PM
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I'll have to look into that. I always thought it was Obama that kills the Coal market.
Ha, yeah, him too. Power generators either use coal or nat gas in their operations, so when nat gas has a huge supply and is dirt cheap coal gets crushed. Once nat gas is in place, there are substantial switching costs to go back to using coal. The cap and trade thing will definitely hit the coal guys: Peabody (BTU) and Joy Global (JOYG) come to mind. Also, in the steel space, the non-integrated minimill producers like Nucor (NUE) should be better off than the integrateds like US Steel if this whole cap and trade thing comes to fruition. Not to mention, the non-integrated guys are where you want to be during early recovery of the industry, then switch to an integrated producer once you forecast that things have stabilized and we're in a solid growth period with strong demand.
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post #15 of 23 (permalink) Old 09-07-2009, 05:43 PM Thread Starter
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BTW when you invest in Nat Gas. How do you go about doing it personally? Do you buy into the companies Like NGS or NOV, an index, or the Henry Hub spot price?
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post #16 of 23 (permalink) Old 09-07-2009, 05:48 PM
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BTW when you invest in Nat Gas. How do you go about doing it personally? Do you buy into the companies Like NGS or NOV, or do you do an index?
Personally, just buy UNG. The problem with companies that are linked to the underlying commodity is that you take on company specific risk when doing so. Many funds or asset management shops have very specific mandates and their universe of investments is limited (ie: no etf's, non-US companies, etc).
So when covering these things for the Fund here or the fund I worked at over the summer, who can't invest in etfs, adrs, etc., it's crucial that you track the correlation between the underlying commodity and the stock price. The last thing you want to do is make a correct call on a commodity space then find out the company doesn't trade with the commodity.
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post #17 of 23 (permalink) Old 09-07-2009, 05:59 PM
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with the energy bill due to spark a lot of debate in the fall, you really need to be watching your energy commodities. the coal lobby got a big boost last week with some key endorsements, but its not really a party issue, so you probably will not hear a lot about it. unfortunately its going to come down to the coal lobby vs the natural gas lobby, and who can buy the most congressmen.
Texas produces the most natural gas so you will likely see the Texas delegation (reps and dems) backing a bill that would support natural gas as appose to coal

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post #18 of 23 (permalink) Old 09-07-2009, 06:04 PM Thread Starter
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Personally, just buy UNG. The problem with companies that are linked to the underlying commodity is that you take on company specific risk when doing so. Many funds or asset management shops have very specific mandates and their universe of investments is limited (ie: no etf's, non-US companies, etc).
So when covering these things for the Fund here or the fund I worked at over the summer, who can't invest in etfs, adrs, etc., it's crucial that you track the correlation between the underlying commodity and the stock price. The last thing you want to do is make a correct call on a commodity space then find out the company doesn't trade with the commodity.
Good to know. I'll take a look at UNG and move accordingly. Thanks for the heads up.

I'd hate to find myself making the right call, and end up like those people who invested in the Ultra ETf's only to find that they didn't making anywhere near the money they "thought" they would make. The Ultra short financials comes to mind.

This one. Man I'd hate to lose out on a huge gain because I wasn't smart enough to look into what I was investing in.
http://www.theopenpress.com/index.php?a=press&id=57275

I'm not sure that they have a case to sue,though. Unless they were specifically marketing these as a 2 to 1 rate of return or loss. People are finding it too easy to sue someone else for bad decisions, and leck of research on their part.

Last edited by sc281_99-0135; 09-07-2009 at 06:30 PM.
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post #19 of 23 (permalink) Old 09-07-2009, 10:24 PM
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Even if the currency collapses Obama bucks will still be available!

98 Brokra
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post #20 of 23 (permalink) Old 09-08-2009, 08:54 AM
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Thanks for the great info guys! I appreciate you taking the time to share your insights.

Good Luck this week!

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post #21 of 23 (permalink) Old 09-08-2009, 10:20 AM
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Man, i'm not up on world finance or what stocks to buy, but if the UN manages to get the US greenback swapped out for something else, that really worries me. I see the following happening:

1. Dollar gets swapped out for the amero (or whatever) by general agreement.
2. International trade is now in ameros. Dollar is not accepted.
3. Dollars must be converted into ameros to do trade.
4. The "true" devalued value of the dollar appears to everyone, as it will buy fewer and fewer ameros over time.
5. The policy of printing money plus the poor amero-dollar exchange rate causes rampant inflation. The true cost of items is pegged to the amero, not the dollar.
6. The dollar becomes worthless. People use it for toilet paper or wallpaper, or for lighting fires. A can of beans cost $1000.
7. The US falls to a 3rd world power as it becomes unable to pay its debt.
8. The US economic situation collapses. Anarchy breaks out.

Is this too far fetched? The only upside I see is that the UN would go broke since the US could no longer fund it.
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post #22 of 23 (permalink) Old 09-08-2009, 12:10 PM
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Quote:
Originally Posted by slow99 View Post
I covered hard commodities at the hedge fund I worked for this summer. I agree, gold is not where I'd go for inflation protection. Too many big players, hard to estimate its fundamental value, and other issues. There are lots of other options for inflation protection. I still think commodities in general are overvalued right now. Copper certainly isn't trading on fundamentals. I generally look to copper for inflation protection. Freeport McMoran (FCX) has a normalized correlation with copper of .98, so that's the way I play it. I usually have money in TIPS as well. I don't think now is the time to be jumping full into inflation protection, I just don't see it happening over the next year or so. Gets much more questionable after that, mainly b/c of reasons similar to this article.
How about lead?
I can see what Mike is saying as playing out if all the above happened and 'retirement' will come in the form of drawing down faster than the other guy and 'retiring' to fight another day.

1/19/09, the last day of Free America.
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post #23 of 23 (permalink) Old 09-09-2009, 12:15 AM
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Originally Posted by mikeb View Post
Man, i'm not up on world finance or what stocks to buy, but if the UN manages to get the US greenback swapped out for something else, that really worries me. I see the following happening:

1. Dollar gets swapped out for the amero (or whatever) by general agreement.
2. International trade is now in ameros. Dollar is not accepted.
3. Dollars must be converted into ameros to do trade.
4. The "true" devalued value of the dollar appears to everyone, as it will buy fewer and fewer ameros over time.
5. The policy of printing money plus the poor amero-dollar exchange rate causes rampant inflation. The true cost of items is pegged to the amero, not the dollar.
6. The dollar becomes worthless. People use it for toilet paper or wallpaper, or for lighting fires. A can of beans cost $1000.
7. The US falls to a 3rd world power as it becomes unable to pay its debt.
8. The US economic situation collapses. Anarchy breaks out.

Is this too far fetched? The only upside I see is that the UN would go broke since the US could no longer fund it.

On the right track, people will learn this countries real value and place in the world which will be shit. We have too many rich fucks talking shit about the "uneducated morons" that made this country what it was.

The house of cards will come crashing down once they do this. The rest of the world knows the US plays with the system since its based on our currency. China is VERY keen to get the power it feels it deserves for providing the world with goods, ya know kinda like we did and got. This i why i say fuck the rich, they are the ones that sold us out to the 3rd world countries. They dont give a shit about who makes them rich aslong as they get rich. Time to put the smack down on some of these greedy selfish fucks.

The trouble with doing something right the first time is that nobody appreciates how difficult it was.
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