ricklibby : The currency changes IMO are the beginning of the global currency reset or adjustments.. things are being tested to see what reactions may happen. again IMO, we will see where we stand shortly. rick
Backdoc: I AGREE!
THIS IS JUST NOT THE WAY PEOPLE THOUGHT IT WOULD LOOK LIKE!
MOST THOUGHT THE RATE FIRST THEN ADJUSTMENTS TO THE RATE.
INSTEAD WE ARE GETTING ADJUSTMENTS FIRST!
BECAUSE OIL IS THE TRIGGER MECHANISM!! THERE WILL BE A POINT WHEN IT WILL BE BEST TO LAUNCH THE RATE,WHEN IS THAT TIME?
MAYBE WHEN ECONOMIES ARE A LOT WORSE!
OUTSIDE YOUR HEALTH THIS WILL BE YOUR GREATEST ASSET IN MY OPINION!
MAYBE THE BRICS ARE NOT THE ONLY ONES THAT WILL BE BLED OUT OF THEIR CURRENCY!! DOC
Pappa-J: Think you guys are correct. There will be many that will not be happy that they were deflated.
I think the GBP is the one player that is resisting the drop or could it be just a timing issue for its drop to occur?
Last one standing in Europe that carries major clout. Going to be interesting .What say you F26? No heard from you on this one. Doc bring it! Lol
Frank26: Oh contraire ........... But I did.
Said : "Not all countries will be happy as some of their currencies and economies will go up and some will go down. Adjusting as they will fight to survive against us."
Aloha Dreams Family ......... Thank You God for our CC tonight........
CSHessman: Agreed P-J, I think the pride of former Kingdom will be the last to bow their knee to parity of King Dollar and Queen Iraq ... imo
backdoc » January 20th, 2015, 12:55 am IMO
I JUST WANTED TO EXPLAIN THE DEFLATION CONCEPT A BIT MORE TONIGHT.
AS COUNTRIES SELL DOLLARS TO SUPPORT THEIR CURRENCIES THOSE DOLLARS COME BACK TO TO THE US OF A ! THE US CAN THEN CHOOSE TO DE-DOLLARIZE THE PUBLIC FLOAT MORE BY TAKING IT IN AND NOT ALLOWING IT BACK IN THE PUBLIC FLOAT!
THIS WORKS MUCH LIKE THE CURRENCY AUCTIONS IRAQ DID TO PULL DINARS OUT OF THE PUBLIC FLOAT!
THE PROBLEM WITH THE US WAS WHEN THEY WERE DOING QE THEY WEREN'T LETTING THE MONEY THEY WERE CREATING INTO THE PUBLIC FLOAT BUT RATHER ON A BALANCE SHEET IN HOUSE.
THIS ACTUALLY CAUSED MORE DEFLATION THAN INFLATION BY THE WAY THEY DID IT!
THE DOLLAR SEEMS TO BE UNSTOPPABLE FOR NOW! WE WILL SEE HOW OTHER CURRENCIES BEGIN TO STACK UP SOON!
THE CONCEPT OF VALUE WILL BE RE-WRITTEN IN THE NEXT FEW WEEKS TO MONTHS!
WITH OIL BEING THE CURRENCY TRIGGER WE WILL SEE THE DOLLARS POWER RISE AND WE WILL SEE THE PROBLEMS THAT COME WITH IT!
DEFLATION IS UGLY AND UNDERWAY NOW! CHINA SOLD OFF ALMOST 8% IN ITS' STOCK MARKET TODAY! THAT WOULD BE LIKE OUR DOW DROPPING 1500 POINTS ! OUCH!
I GUESS THE GOOD NEWS IS WE SEE BEFORE OUR EYES WHO IS WINNING THIS WAR BUT THERE WILL BE CASUALTIES EVERYWHERE!! DOC
backdoc » January 20th, 2015, 2:07 am WALKINGSTICK, I SEE THIS AS A PREPARATORY MOVE TO DITCH THE EURO POTENTIALLY ! (See Article Below)
MORE AND MORE COUNTRIES WILL RETREAT TO THEIR REAL VALUE SOONER THAN LATER.
IF THE GERMANS BLINK, THE EURO IS DONE! DOC
walkongstick :Germany repatriates more gold: Bundesbank
Frankfurt (AFP) - The German central bank or Bundesbank said Monday that it stepped up the repatriation of its gold reserves from overseas storage last year.
"The Bundesbank successfully continued and further stepped up its transfers of gold," the central bank said in a statement.
"In 2014, 120 tonnes of gold were transferred to Frankfurt from storage locations abroad: 35 tonnes from Paris and 85 tonnes from New York."
Germany's gold reserves are the second-biggest in the world after those of the United States and totalled 3,384.2 tonnes this month, according to the latest data compiled by the World Gold Council.
For decades the Bundesbank's gold holdings have been kept in the treasuries of other central banks -- in Paris, London and New York.
According to the German central bank's own data, 1,447 tonnes are stored at the Federal Reserve Bank in New York, 438 tonnes at the Bank of England in London and 307 tonnes at the Banque de France in Paris.
There were historical reasons for this.
After World War II and the export revival of West Germany's "economic miracle" in the 1950s, the central bank accumulated dollars it swapped for gold at the Federal Reserve. With Germany split between capitalist west and the communist East German state until 1990, storing most of the gold abroad was a way to keep it out of Soviet reach during the Cold War.
But surging mistrust of the euro during Europe's debt crisis fed a campaign to bring home Germany's gold reserve from New York and London, with some political parties fuelling fears the gold might have been tampered with.
Under the Bundesbank's new gold storage plan in 2013, it decided to bring back 674 tonnes from abroad by 2020 and store half of its gold in its own vaults.
"Implementation of our new gold storage plan is proceeding smoothly. Operations are running very much according to schedule," said Bundesbank executive board member Carl-Ludwig Thiele.
"We also called on the expertise of the Bank for International Settlements for the spot checks that had to be carried out. As expected, there were no irregularities," Thiele said.
Since the transfers began in 2013, the Bundesbank said it has relocated a total of 157 tonnes of gold to Frankfurt -- 67 tonnes from Paris and 90 tonnes from New York.