Here is a classic example of hiring someone who knows hardly anything to bloviate about something that is fairly easy to understand. Namely, our trade partners all do the same exact thing: they hold US dollars in their central banks to make the dollar stronger against their own currency in order to run perpetual trade surpluses with the US which is deeper and deeper in the red each generation: The Strong Dollar Is Always Good, Except When It Isn’t – NYTimes.com
The European Central Bank significantly loosened its monetary policy on Thursday, in the process driving down the euro and bolstering the dollar. Measured against a basket of currencies, the dollar’s value has soared 19 percent since May, and the momentum seems to be building.
When Switzerland got word of this, they pre-emptively dropped their peg to the euro. Of all world currencies, the euro is the most unreal. The nations that use it are in a confederation where termites of racial/ethnic/religious warfare eat away at the interior of the structure. Like all previous confederacies, it will collapse due to no real executive power.
The US has this still though the creation of the Federal Reserve was the first major termite raddled structure built. It protected the value of the dollar so it dropped to less than a penny and this, with all of the world’s central bankers desperately trying to prop it up.
“A strong dollar has always been a good thing for the United States,” Treasury Secretary Jacob J. Lew declared not long ago, a position that he has restated frequently….
People at the top of the pyramid tend to lie. They like lying. They can pretend they are being honest but their actions speak louder than words. They all know that when Nixon and Burns cut the gold standard from the dollar, it would lose value rapidly. And it did.
Hyperinflation raged briefly. This was fixed by opening our borders to unlimited trade and cheaper goods poured into the US and this was paid for by printing dollars and shifting these overseas and these dollars did not return, they stayed overseas.
Eswar S. Prasad, a Cornell University professor of economics who is the author of the “The Dollar Trap,” a study of the dollar’s role in global finance.
“The notion that a strong country always has a strong currency isn’t something that many countries subscribe to,” he said. As a continental power that doesn’t rely on exports to the extent that many other nations do, he said…
Um, the US relies on imports for nearly everything. This is why our trade deficit annually is over $44 billion and often, worse. Over time, it is multiple trillions of dollars. Far from being self sufficient, we are fatally deficient and I see all over the nation empty factories, entire cities like Detroit have been plundered and now are terrible hell hole wastelands.
There are some clear benefits, which Mr. Prasad enumerated. Global money flooding into dollar-denominated investments tends to lower interest rates in this country. That typically makes home mortgages cheaper, and a variety of assets more valuable, including houses, bonds and stocks. Americans abroad can buy more with dollars, and imported goods like clothing are cheaper. Add that to the windfall for consumers coming from lower oil prices and it could stimulate the economy.
The New York Times is owned by Bilderberg gangsters. They helped create and promote the European Union which is dissolving into disaster, they created the trade deficit and supported the creation of the Federal Reserve and lie about how money works over and over again and this article is their latest attempt at concealing the truth about the trade deficit and the increasingly cheaper dollar which isn’t cheaper against trade rival currencies but is very much cheaper than the 1913 dollar.
And here is a story of how the rich loot the nation: Bidding war between networks, sports leagues will increase price of cable TV – The Washington Post Viacom CEO’s 2014 pay rises 19 percent to $44.3 million :: WRAL.com
Dauman, 60, has been running Viacom’s media empire since 2006 when he succeeded Sumner Redstone, now the New York company’s executive chairman. Viacom owns MTV, Nickelodean and several other cable-TV channels, in addition to the Paramount movie studio.
Both cable-TV networks and film studios have been facing new competitive challenges as more video viewing shifts to the Internet and people find less expensive ways to entertain themselves.
Viacom earned $2.4 billion on revenue of $13.8 billion in fiscal 2014, unchanged from the previous year. Meanwhile, its Class B shares — Viacom’s most widely traded stock — fell by 8 percent, while the Standard & Poor’s 500 index rose by 17 percent during the same period.
So, stocks collapse, the business is running up expenses and what happens next? They charge their victim customers more and more for crummier and crummier services and give the bandit at the top millions and millions of dollars in reward for the mess. Pricing cable higher and higher will simply increase the probability more people will run away from it and good riddance.
The NYT and other Bilderberg papers tell us Putin is evil and the oligarchs who looted Russia are good guys because they are exactly like the looters in the US who are destroying everything: Russian oligarch Boris Berezovsky died penniless with debts worth £300m | Daily Mail Online
The former tycoon, an outspoken critic of President Vladimir Putin, was worth an estimated £1.9 billion.
But after he was found dead it was revealed Berezovsky died penniless and with debts of more than £300million – including £46million owed to the British taxman.
He hung himself in a $20 million mansion. A lot of the ‘super rich’ are doing this on debts because they are careless, reckless and stupid. Once they decide to loot instead of build, it is all downhill. This is why our rulers are yelling about Putin. They are furious he stopped the looting.
Last of all tonight (I was busy all day dealing with the coming blizzard because I do snow removal for more than one person) is the story of Scotland. Remember the vote? Barely passed, they decided to stay with the royal numskulls and the London bankers because they were promised autonomy. I predicted the offers by the Rulers was false and would be tossed.
David Cameron: No more devolution powers to Scotland after today’s settlement. Sigh. People never learn. Don’t buy a pig in a poke. Get it in writing before signing and have lawyers look at it first. Well, they trusted London and are now being told to go to hell. How unusual.
Greece just voted for national socialism and the head of the French national socialist party says, ‘Monstrous democratic slap to EU’: Le Pen hails Greek anti-austerity party victory. The same forces are at work in Germany: ‘Anti-Islamization’ & ‘pro-tolerance’ activists march in Berlin (VIDEO). The riots in Kiev were national socialistic, too. NONE are ‘liberal’. Liberalism is dying rapidly thanks to economic forces which are negative.
Mariupol spotter ‘confession’ another fake by Kiev – Russian Defense Ministry while Putin: Ukraine army is NATO legion aimed at restraining Russia as the rebels fight the coup in Kiev and the US moves arms into Ukraine. Yes, a war with Russia is a great solution to all our problems. We lost a trillion dollars plus fighting Muslims in Iraq and Afghanistan and we lost the equivalent in the war in Vietnam which is why the dollar lost a lot of value suddenly.
We cannot afford these stupid wars that bring nothing but more misery to everyone including us.
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