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GET IT OFF YOUR CHEST - With the dollar nosediving, is it time for another global currency?

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mounir el-debs September 11, 2008, 21:05: i am surprised to the begnine-neglect attitude of russia ,to the financial agrresion from the west.yestarday david browder was on bbc announcing the catastrophe for russia...few years back,boris berezovsky had promised a war in the south of russia ie;georgia.
hsbc the firm for which browder works,has inherited hermitage capital from the infamous republic national bank laundering services...hsbc is no less an authority in this field,especially the opium war and its intricate channels of financial services.
mr.browder operating in russia,was always on the other side of the law in his acquisitions and investments.i remember that the shares of gazprom for example could not be acquired legally by a non-russian entity.the law was intended to prevent a predator from acquiring a strategic company ,from the shareholders on the cheap.the use of "special investment vehicule"based in cyprus is illegal,and fraudelent.for him now to proclaim russia being a country with-out a legal system ,is pure lies.russia had a legal system which he refused to recognise.at the time of yeltsine ,that was ok.today he wants to smear the country which propelled him to riches,and prominence.
berezovsky,and soros,and browder are different from the mercenaries who ran from georgia,in that they wear suits and ties...but their mission ,is no less destructive.
russians should rid themselves of every dollar...this is a national cause,in difficult war.
SrpskiCrnogorac September 11, 2008, 19:50: "The dollar has actually gone way up over the last few months."

It´s called let´s fool little John.
Eur/Usd now at 1.39, next target is 1.72.
Vijay Singh September 11, 2008, 13:12: Yeah, who knows...we live in uncertain times indeed -
Regarding the nationalization of Fannie and Freddie macs...
I presume this is the 1st step to a half-baked Socialist economy of the US of A...!??

What would be interesting to note is what stand the commies of the world would take vis-a -vis their vicious enemy...?
Would they now support - "half way" of course this strange creature - a half socialist/half imperialist humdrum...?

What a comforting proposition for Bush as his retirement home days draw near...!!
Fred September 10, 2008, 09:39: The Dollar will ALWAYS be valuable Especially in the event of a world paper shortage! You never know how much you need them till you run out of Kleenex, TP or paper towels. this is DEFINITELY the case in Zimbabwe where EVERYONE is a Millionire & coffe is 40 million a cup. Yep if they keep mismanaging the economy, its gonna get that bad............
But if the French destroy the world tomorrow by switching on the Supercollider, it wont make much difference.......
mounir el-debs September 7, 2008, 20:11: fuku-yama,has a great gift today,the end of history ,which he announced two decades ago is coming to celebrate his name...
paulson declaration on the natiolaization of the fanny,and freddy institutions is a landmark decision.all the ideological construction of american and british savage capitalism,has collapsed like a house of cards.
my previous talk for russians,and especially finance minister kudrin to change dollar denominated reserves,is coming in loud and clear...the dollar is a worthless paper,and russia's interest is to start dealing in roubles.
the crisis which forced this decision on the americans,has been building since decades?and the capacity of runing ahead of the game has collapsed.the day of reckoning has arrived :
1-all the lectures and discourses of politicians,regarding the american model are false,and fraudelent.
2-america cannot rely anymore on capital flows to finance ambitious hegemony,wars,and increasing living standards.they have to live at the level of their economic generating capacity,which is well below current levels.
3-before the americans admitt to other problems in their financial system - which is inevitable - investors should close all exposure to dollar based assets,and credit instruments.
4-the attack by georgia,and the financial assault on russian financial papers,was a desperate step to avoid this days announcement.if it were to succeed,russia would have been under the complete control of its destiny,and the dollar would reign supreme.the russian eagle ,did not allow this to happen,and his victory is the more phenomenal.
4-the collapse of the american economy,would follow the shock of today.
the business model of the capitalist in london and washington ,was based on the flow of cheap raw materials,and products ...and the export of expensive goods and services.when the energy,and the commodities are fairly priced,and the trade is open on both lanes (exports,and imports) fairly.there will be no diversion between developing,and developed economies.
5-the cosequent event following the above,is a limit on the military spending,and irresponsible adventurism in countries like iraq,palestine,pakistan
,lebanon...the rapid expansion of military bases will be curtailed.
furthemore,the income defense companies have reaped from the gulf wars,will dry up.the useless equipment sold to corrupt regimes,and the extortion of defense shields,and rogue states invasions,would cut a signifcant flow of funds into american treasury.
the big lie - bigger than the communist and facist propaganda - has come uncovered .fukuyama,and the neo-cons have led the world to the edge of a universal confrontation .americans have no chance ,in the elections to choose a new course.but for other countries the chains are broken.be free.
fred September 7, 2008, 18:59: john :

what first crucial step are talking about ?
read mounir ! even if i don't agree 100%, he's still mostly right !

sorry to say , but $ hasn't got a single reasonable reason to go high ...

in fact , i believe you are victims of your own trap = some countries understood just too well that if $ is falling , you won't pay back all the money you borrowed at the value you took it ...

instead of being an agent of deflation (by inflation of monetary mass) you become a victim of your own addiction to credits and to your habit of "they sweat and save ; we borrow and spend !"

for easy access : if today you borrow 1 million Zimbabwe$ , you have a value X , with an inflation of some few hundreds per cent a day then the value you will have to repay in due time will be a N thousandth of the value you had when borrowing ...

USA tried the same trick ; partly by being self-blinded by their pretended importance in the world (which is much smaller than what you want to believe ) ; partly by a cynical calculation of the ones you voted for
(never forget that in democracy it is not the best fitted for the job who get elected , but the one saying the nicest lies with the best assurance ! )

so $ not falling down as it should
(in a real market economy , $ would and should have its true value which is the confidence the majority of users worldwide have in your country and in the capacity of your present and future Govt to squeeze you enough of tax to repay what your country ow ... which is almost impossible = so the value should be Nil !)

that the $ is not going down is much more of a problem for USA than anything else ...

without a falling $ , you can expect to repay the full amount of what you ow , you won't be able to borrow today and pay back next to nothing the day after ...
and more importantly = you won't be able to lower the working-costs for your own production which is a very big disadvantage ...

so , your product will remain of quite low qualities ...
(i personally know a directing manager of BMW who told me that when they decided to have the X5 made in US , they found workers with extremely low skills , no knowledge of what was quality and pride of well-doing and a very low productivity ...his own terms was "a plant in a sub-Sahara country !" )

your products will remain quite expensive for what they are ...

you won't be able to borrow as easy as before
(in the last 10/15 years , USA was swallowing 80% of worldwide savings ! when the "supposed to be rich" have to borrow from the "supposed poorer" , problems and delusion are always at the corner ...)

but you will still have to repay and make a living and expand your economy ...

and Chinese will still sell you 68% of what is bought by average americans in USA ...

which end-up into some kind of nightmare where even the Iraq war would sound like a bedtime child joke ...!
T September 6, 2008, 15:57: The USA is not the root of all evil..people are :O

This blithering nonsense about occupying Germany and Japan is lunacy.

Wake up comrade..the investors are running from Russia. Your precious dream of Old Russia failed. It failed for centuries.

Centuries of tyranny doesn't fix anything.

Open societies and free market give people opportunity

America, and the people of the US will fix the corrupt political idiots..
john September 4, 2008, 19:16: Do you actually believe all that?

The first step in avoiding repeated failure is accepting responsibility.

You are not prepared for the crucial first step.

I'm sorry.
mounir eldebs September 4, 2008, 00:30: prior to 08/08/08,russia was being attacked on the financial front!!!the plan is to destabilize russian prosperity,and consequently the prime minister...
the dollars recent rise,is part of the destabilizing scheme.the dollar has no fundemental reason to rise.the country is bugged down with wars,bankrupt banks,bankrupt regime,and bankrupt poilitical system.all the foreign investments in the usa,were completely looted by the judicial system.starting with the japenese inthe 80's,ubs,daimler,vivendi,pinault,credit lyonnais,pechinney,the list is partial...
the usa had prospered at the expense of latin america,africa,arabia,japan,korea,...
sixty years after ww2,they still occupy japan and germany,they prevent the unification of korea,and continue to occupy iraq,and afghanistan.
the prosperity of america,passes through the foreigners buying sub-prime mortgages
to th mountain of paper worthless dollars.the prosperity of america ,means less value on commodities,and more value for chevy(useless)cars.
prosperity of america,means wars organized every now and rhen to rob the reserves of iran,saudi,kuwaiti,and emirates.
prosperity inthe 90's was the oligarchi in russia,which gave commodities at discounted prices,and robbed the russian peopole of their wealth,thru devaluations,money laundering,destruction of the space and aeronautic industry,under the "democratic"yeltsine.
to those who suffered from russian market woes,the culprit is in the white house?and his crimes are impardonable.
those russians who still carry dollars,and transact in dollars,are shooting themselves in the foot.sell your dollars today.its not reasonable,its not patriotic.
John August 31, 2008, 00:51: The dollar has actually gone way up over the last few months.

My Russian exchange traded fund has tanked and lost me thousands recently.

After this last little stunt, no one will want to business with you. People are internationally pulling millions out of the Russian market.

Please get rid of your government so I can get some of my money back. There is no benefit in this obsession to re-become something like the old USSR.

That thing collapsed.
David August 30, 2008, 19:04: Why the US Dollar. It is becoming extinct. For the time being, the Euro is the currency to invest in. Russia has already abolished the Dollar from its vocabulary and adopted the Euro in its place. Does this not say something. The Dollar is only worth lighting one's victory cigars with
John August 30, 2008, 10:36: The dollar is not doing badly right now.

I will say my Russian ETF investments are obliterated.

Please do something to help me make back some money. You guys never seem to learn that in a 2008 global economy, its hard to make money while everyone hates your country.
mounir August 25, 2008, 18:03: friday saw the reversal in the price of oil,which almost erased the gains of the previous day...the price hike was attributed to russian invasion(which was by then was withdrawing)of georgia.
the brilliant journalists,and commentators whoo were bashing russia...stopped short of apologizing for their hurried,and irresponsible comments.yet,the russia bashing is continuing on the finnancial front,and the micex is suffering the assault of "democratic and liberal" establishment,trying to recompensate a military fiasco with a finnancial blitz.
as long as russians continue to hold on to cash dollars,and investments into american finnancial system...they are indirectly contributing to the devaluation of their economic conditions.
kudrin should start converting treasury holdings into real assets(as opposed to paper dollars),and why not into russian rubles.
mounir el-debs August 23, 2008, 15:37: the price of oil erased the gains of last thursday...when the prices rose,it was russia's geostrategic position in the world energy composition.no merit was accorded to russia for the drop...guilty,guilty,guilty verdict is the verdict that russia deserves.when the oligarchs were stealing,killing,and hijacking the country...russia was considered with respect.
mounir el-debs August 22, 2008, 18:48: yesterday the price of oil jumped by 6percent...the culprit,was unanimously designated;and its no other than russian invasion of georgia.not a single journalist,or finnancial analyst,had the idea of asking:why is russia a problem,while its forces are leaving,and they had no effect on the market when they entered georgia,and the pipeline was cut???a simple question which doesnot fit the russia bashing campagin.russia is lucky that the men on the helm,the two eagles,are not swayed by these reports.however,the attack on russian companies continues unabated.the paper dollar is appreciating ,and the micex is registering new declines!!!what they lost in confrontation,they try to replace thru intrigues.the conspiracy is thickening...the russian response should not be less than spectacular.the stupidity of bp,and the tricks of mechel,have no equivelant in the "wetern,liberal"markets.the uk has decided to divest operator of british airports out of three airports,which were privatized last year with great fanfare...and germany has decided to limit foreign ownership in their companies...two instances that happened this week,without one critique or questions.the "free" markets are free as a prisoner.and the logic iiis gratified with hypocracy,and lies.
in 2001 at a coference in bore,outside of moscow ,i had notified dollar holders in cash,that they are loaning that money free of interest.while the us was charging russia 30 percent interest.when will russians wake-up?change your dollars today.