The Dollar Fall And Its Implications
Source: Peter Schiff
For the most part, the value of the dollar is given cursory attention by the financial media. Typically, its movements are assigned an importance on par with much less determinative metrics such as natural gas futures and construction permits. It’s only when major milestones are reached that anyone really takes notice of the dollar. We are living through one of those times.
The great dollar rally of 2008-2009 has come full circle. When the financial crisis exploded in its full ugliness in mid-2008, the dollar, which had steadily declined over the previous four to five years, put in a rally for the record books. By March 2009, as investors across the world sought safety from the financial storm, the index had surged more than 25%. Since then, the dollar has steadily declined to the point where nearly all those gains have vanished. In short, the panic rally has given way to the long term trend.
So, as the dollar index makes fresh 52-week lows on a nearly daily basis, discussion on the greenback is heating up. And while real insight on the topic is hard to find, the debate centers on the battle between two conventional opinions – both of which are wrong.
The first camp, which is generally supportive of government intervention in the economy, argues that dollar’s decline is a positive for both the economy and the stock market. The second camp, which tends to fall on the more conservative end of the political spectrum, views the dollar’s decline as a problem but feels that tough talk and slightly higher interest rates are all that is needed to restore ‘King Dollar’ to its throne. Read more
Peter Schiff issues a Red Alert: “Get out of the US dollar”
Source: Youtube
Economy Effects: Mc Donald’s Pulls Out of Iceland
Source: AP
The Big Mac, long a symbol of globalization, has become the latest victim of this tiny island nation’s overexposure to the world financial crisis.
Iceland’s three McDonald’s restaurants — all in the capital Reykjavik — will close next weekend, as the franchise owner gives in to falling profits caused by the collapse in the Icelandic krona.
“The economic situation has just made it too expensive for us,” Magnus Ogmundsson, the managing director of Lyst Hr., McDonald’s franchise holder in Iceland, told The Associated Press by telephone on Monday. Read more
Police State Canada 2010 and the Dark Side of the Olympics
Filed under: Canada related, Winter Olympics 2010
Source: nauresistance.org
By Dana Gabriel
The 2010 Winter Olympic Games will be held in Vancouver, British Columbia, from February 12-28. It will be the largest security operation in Canadian history. Military planners will undoubtedly use it as a template for securing future high profile events. Canadian security officials continue to work closely with their American counterparts in preparation for the test that the Games will pose to the security of its shared border. Integration of Canada’s security and military structures with the U.S. have already been advanced through the North American Aerospace Defence Command (NORAD), NORTHCOM, the Security and Prosperity Partnership (SPP), the Bi-National Planning Group, the Civil Assistance Plan, as well as other initiatives. Training and security provisions for the Olympics might be used to further accelerate the merging of U.S-Canada command structures and the militarization of North America. The 2010 Olympics will be a hellhole of police state measures with far-reaching effects that could remain in place long after the Games are finished. Read more
CTV: Security upgrades in BC
Filed under: Canada related, Winter Olympics 2010
Source: CTV
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