F**K Me! How many of you Yanks knew this?

[Care4all]

old article but relevant! This is what people were saying when president bush began his policy of devaluing the dollar...

The risk of dollar devaluation: why team Bush can't devalue its way to a stronger economy
International Economy, The, Spring, 2005 by David Hale

The risk of dollar devaluation: why team Bush can't devalue its way to a stronger economy | International Economy, The | Find Articles at BNET

The U.S. Treasury scored a minor coup for its exchange rate policy recently. Cuba announced that it will revalue its currency against the dollar by 8 percent. The Treasury did not claim credit for the Cuban decision but it could point to Cuba's decision as a justification for other developing countries to let their currencies appreciate against the dollar.

The Treasury began to encourage dollar depreciation when the Bush Administration became concerned about the loss of three million manufacturing jobs. The Administration wanted to demonstrate that it was promoting manufacturing competitiveness and employment with a soft-dollar policy. Political advisor Karl Rove was very focused on holding the electoral votes of swing industrial states such as Ohio through a mixture of explicit protection--in particular steel tariffs--and dollar depreciation.
Related Results

* PULA-DOLLAR EXCHANGE RATE AND THE PURCHASING POWER PARITY IN BOTSWANA, THE
* Iran drops dollar from oil deals: report
* IWG Responds to Unprecedented Shift in US/Canadian Dollar Exchange Rate.
* Federal Reserve to Release Economic Forecasts Today; UC Irvine Experts...

The Rove strategy appears to have worked. The president held the electoral votes of Ohio by a slender margin while enhancing his margin in West Virginia and losing Pennsylvania by a very narrow vote. What the Republicans have so far failed to appreciate is how they won elsewhere in the country. The decisive factor which drove the president's reelection was house prices. George Bush has presided over more housing inflation than any president in the twentieth century. During his first four years as president, real house prices rose by 36 percent and produced a $5 trillion capital gain for the American people. The previous record was a 25 percent real house price gain during the second term of Ronald Reagan. The poorest house price record was the term of the first President Bush, when real house prices were flat.

House prices have continued to increase since the election while there are increasing signs of a speculative frenzy in the market. House prices have increased by more than 30 percent in many regional markets during the past year. Realtors report that investors now account for about 23 percent of all home purchases, or a level double what it was five years ago. In Miami, the number is 66 percent. There has been a sharp increase in both variable-rate loans and mortgages without any principal payments for several years. According to the Joint Center for Housing Studies, mortgage payments now consume nearly 20 percent of personal income while one in three households are devoting a third of their income to mortgage payments. The ratio of rents to house prices has risen to a level one-third higher than what prevailed during the mid-1990s. There are now 427,000 real estate agents in California while there were only 680,000 homes sold in the state last year.

It is important for the Republicans to recognize their dependence upon property values because a policy of excessive dollar depreciation could jeopardize the American housing boom by driving up mortgage borrowing costs. The economic risk to housing is very simple. The American current account deficit is now approaching $800 billion and is equal to 50 percent of the value of U.S. manufacturing output. If the dollar falls by enough to reduce the current account deficit by 25 percent, the country's capacity utilization rate will rise from 79 percent to 86 percent. If the deficit falls in half, the utilization rate will increase to 93 percent. The Federal Reserve would regard a utilization rate of 86 percent as dangerously inflationary. It would respond by hiking its official lending rate from 3 percent to 6-7 percent. In such a scenario, mortgage rates would also rise sharply and puncture the great American housing boom.

The Republicans have to recognize that they cannot devalue themselves into a strong economy without running the risk of higher inflation, sharply higher interest rates, and falling house prices. What they should try to achieve is steady growth with a stable dollar, which would increase the current account deficit to $1 trillion by 2008. Such a deficit may seem frightening, but the reality is the East Asian central banks would finance it. Japan provided $400 billion of funding for the U.S. deficit in 2003-04 while China provided over $200 billion. As neither country wants its currency to rise against the dollar, they could easily expand their foreign exchange reserves by another trillion dollars in order to fund the U.S. deficit. In 2008, Japan could have foreign exchange reserves of $2 trillion while China could have $1.5 trillion compared to $850 billion and $640 billion today.

The Bush Administration should cease talking the dollar down and criticizing the Asian central banks for promoting currency stability in their region. The White House should also be careful not to appoint a replacement for Alan Greenspan as Federal Reserve chairman who would promote dollar depreciation to reduce the current account deficit. The Administration should instead recognize that it needs an expanding current account deficit to sustain domestic consumption and the house price boom, which helped to reelect the president in 2004. In fact, it would not be an exaggeration to suggest that the current account deficit could be the major swing variable in determining the 2008 election. If the current account deficit falls to $300400 billion, interest rates will rise sharply and help Hillary Clinton to win the election. If the current account deficit expands to $1 trillion, there will be much less pressure to tighten monetary policy and the Republicans will have an excellent chance of retaining the White House.

 

[Setarcos]

YOu can get rid of the dollar. If you still practice the same suicidal economic policies, you'll just kill the next unit of currency, too.

 

[The Rabbi]

It's all very simple to find out who controls the money and why this is happening.

Just look at who owns the banks and the big finincal institutions.

Now look at the last names of these people.

Mystery solved!!!

Really?
WHo owns JP MOrgan? WHo owns Wells Fargo? Who owns Citibank?
I want names!

 

[L.K.Eder]

i don't believe in nuclear power until we have a means of disposing of waste.

Yes, we should dump the sealed containers in the ocean like the French.

aha, french bashing, can you support your claim?

 

[L.K.Eder]

Calling BS when it's laid on thick:

http://www.usmessageboard.com/the-flame-zone/90487-men-who-dont-rock-usmb-4.html#post1587991

what on earth are you talking about. I was responding to MM.

Get over yourself.

you're sounding nuts tonight.

Right. You are sounding nuts for defending a misogynist, but doesn't trouble you a tad, as long as not directed at you.

a misogynist is not someone who dislikes YOU and states it, even if he uses oh so bad words.

 

[Sunni Man]

THE BOARD OF GOVERNORS
OF THE FEDERAL RESERVE BANK

Here are the people that control the government of America:

1) Ben Shalom Bernanke: Chairman of the Board of Governors of Federal Reserve. Term ends 2020.

2) Donald L. Kohn: Vice Chairman of the Board of Governors of Federal Reserve. Term ends 2016.

3) Randall S. Kroszner: Member of Board of Governors of Federal Reserve.

4) Frederic S. Mishkin: Member of Board of Governors of Federal Reserve. Term ends 2014.

5) Alan Greenspan: Advisor to Board of Governors of Federal Reserve. Recent Chairman.

 

[The Rabbi]

THE BOARD OF GOVERNORS
OF THE FEDERAL RESERVE BANK

Here are the people that control the government of America:

1) Ben Shalom Bernanke: Chairman of the Board of Governors of Federal Reserve. Term ends 2020.

2) Donald L. Kohn: Vice Chairman of the Board of Governors of Federal Reserve. Term ends 2016.

3) Randall S. Kroszner: Member of Board of Governors of Federal Reserve.

4) Frederic S. Mishkin: Member of Board of Governors of Federal Reserve. Term ends 2014.

5) Alan Greenspan: Advisor to Board of Governors of Federal Reserve. Recent Chairman.

OK. You aren't the biggest jew-hating douchebag on this board. But that's only because there are some really galactic-class ass-clowns here.
Don't bother to mention all the members of the board:
Kevin M Warsh
Elizabeth A Duke
Daniel K Tarullo.
Greenspan is retired from the Fed.
And the Fed is not a "bank" in the sense you first posted.
What a fucking fraud you are. I'll bet you're not even an Arab.

 

[Sunni Man]

OK. You aren't the biggest jew-hating douchebag on this board.

What a fucking fraud you are. I'll bet you're not even an Arab.

#1) I don't hate jews and have never said I do on any post.

#2) Never claimed to be an Arab (why would you think that?)

 

[The Rabbi]

OK. You aren't the biggest jew-hating douchebag on this board.

What a fucking fraud you are. I'll bet you're not even an Arab.

#1) I don't hate jews and have never said I do on any post.

#2) Never claimed to be an Arab (why would you think that?)

That;s why you post anti-semitic canards? Because you love Jews?
Of course you're not an Arab. Arabs are smarter than that.

 

[PLYMCO_PILGRIM]

The Republicans ran on an agenda to cut taxes. I took them at their word. The day after they won in 2002, I was in the market buying gold stocks hand over fist. I was right. The dollar declined and gold soared.

The Republican's policies created structural deficits. Regardless of whether or not the deficit was falling, unless the economy was going to grow at a structural rate of 6% a year - an impossibility - the budget was never going to be balanced by the Republicans. That's not the only reason why the dollar went down and gold went up, but it contributed to it.

Today, the Democrats are also creating structural deficits, even worse than Republicans. However, the Republicans controlled everything for four years. To brush aside their responsibility during that time is not a serious argument.

Barring massive reductions in spending, the structural deficit has been on rails at least since Perot pointed to it numerous times, back in '92.

Bot sides have jumped in on the spending sprees and are equally to blame.

+1 on both you're posts.

The out of control defecit spending train has been barreling down the tracks forever and has had both democrat and republican conductors driving it.

 

[Setarcos]

What I want to know is this:

How do you waste all that money and still have a failing infrastructure?

 

[Sunni Man]

OK. You aren't the biggest jew-hating douchebag on this board.

What a fucking fraud you are. I'll bet you're not even an Arab.

#1) I don't hate jews and have never said I do on any post.

#2) Never claimed to be an Arab (why would you think that?)

That;s why you post anti-semitic canards? Because you love Jews?
Of course you're not an Arab. Arabs are smarter than that.

I am Not anti-semitic

But anyone can see that the zionist jews have almost total control of America's media, banks, finincal institutions, legal system, and government.

Being aware of this and making posts about it. Doesn't automatically mean a person is anti-semetic.

 

[The Rabbi]

As I pointed out, your "facts" are simply wrong. The rest of it follows from that.
You are repeating anti-semitic canards, that the Jews control the banking system. That is ipso facto anti-semitic.

 

[Sunni Man]

The Federal Reserve Bank is a consortium of 9 Jewish-owned & associated banks with the Rothschilds at the head:

$1. Rothschild Banks of London and Berlin

$2. Lazard Brothers Banks of Paris

$3. Israel Moses Seif Banks of Italy

$4. Warburg Bank of Hamburg and Amsterdam

$5. Lehman Brothers of NY

$6. Kuhn, Loeb Bank of NY (Now Shearson American Express)

$7. Goldman, Sachs of NY

$8. National Bank of Commerce NY/Morgan Guaranty Trust (J. P. Morgan Bank - Equitable Life - Levi P. Morton are principal shareholders)

$9. Hanover Trust of NY (William and David Rockefeller & Chase National Bank NY are principal shareholders).

 

[The Rabbi]

You're truly an ass-clown, arent you?
There is no Shearson-American Express. It certainly doesn't own the Federal Reserve. The rest of the list is filled with bullshit and misinformation as well.
Hang it up turkey. You're exposed.

 

[Setarcos]

As I pointed out, your "facts" are simply wrong. The rest of it follows from that.
You are repeating anti-semitic canards, that the Jews control the banking system. That is ipso facto anti-semitic.

No, it's not. Saying that Jews are evil would be.

 

[Sunni Man]

There is no Shearson-American Express. It certainly doesn't own the Federal Reserve. The rest of the list is filled with bullshit and misinformation as well.
Hang it up turkey. You're exposed.

The Jews consist of about 3% of US population.

Yet when it comes to banking, finance, lawyers in the legal system, high government positions, owners of media, etc.

Their percentages in these categories are extremely disproportionate to their population.

 

[The Rabbi]

There is no Shearson-American Express. It certainly doesn't own the Federal Reserve. The rest of the list is filled with bullshit and misinformation as well.
Hang it up turkey. You're exposed.

The Jews consist of about 3% of US population.

Yet when it comes to banking, finance, lawyers in the legal system, high government positions, owners of media, etc.

Their percentages in these categories are extremely disproportionate to their population.

Actually I think it's less than 3%. And prominence is true in any society that is more or less open, and that includes Muslim societies like the Ottomans.
It's evidence for talent and hard work. Only an anti semite would see it as evidence of conspiracy.

 

[Setarcos]

There is no Shearson-American Express. It certainly doesn't own the Federal Reserve. The rest of the list is filled with bullshit and misinformation as well.
Hang it up turkey. You're exposed.

The Jews consist of about 3% of US population.

Yet when it comes to banking, finance, lawyers in the legal system, high government positions, owners of media, etc.

Their percentages in these categories are extremely disproportionate to their population.

Are you saying the Jews succeed where Sunni men fail?

 

[The Rabbi]

There is no Shearson-American Express. It certainly doesn't own the Federal Reserve. The rest of the list is filled with bullshit and misinformation as well.
Hang it up turkey. You're exposed.

The Jews consist of about 3% of US population.

Yet when it comes to banking, finance, lawyers in the legal system, high government positions, owners of media, etc.

Their percentages in these categories are extremely disproportionate to their population.

Are you saying the Jews succeed where Sunni men fail?

I thought that was so obvious it didnt need saying.
If it were not for an oil windfall Saudi Arabia would be filled with tent living camel jockeys and the rest of the world would be about as concerned with them as they are with Laplanders. Maybe less.
How many Sunni Nobel Prize winners have there been?