madasiwannabe

The Great Dollar Pump of 2008: A Doomed Central Bank Intervention

Problem is, company A actually owes everyone $100's and no one owes company A anything. There's going to be a point very soon that companies no longer accept Company A's monopoly money. World banks are converting to Euro's at breakneck pace and recently some OPEC countries announced they will no longer accept Dollars as payment. The run up of the dollar is great for world banks that want to convert without losing money.


On Sep 08 06:58 PM DontWorry wrote:

> Once there was a country A who owed another country B $10.
> Country A hadn't the money so they made a paper $10 bill which was
> a fake.
> Country B accepted this $10 even though it was a fake and used it
> to pay country C which they owed $10 dollars.
> Country C accepted the fake $10 and used it to pay Country A. <br/>On
> receiving the $10 Country A immediatelt recognised it as the fake
> $10 they had created. So they tore it up and threw it in the bin.
>
> All the countries were happy as they had all paid their debts.

Today's Action: Crude Crushes the Dollar; Financials Threaten

I think the mutuals backed out of the financials and went back to commodities again. One only needs to look at the market volumes over the last 2 weeks to see the migration. The rise in oil has nothing to do with reality. The flood of speculators into the NYMEX creates irrational rallies across the board. We only notice the oil though.