Swedish Central Bank Dumps Dollar
Thanks to a corrupt government and an insanely greedy Fed, America is fast approaching a full-scale economic crisis of epic proportions.
[F]undamentals turned sharply bearish for the dollar this week. On a day devoid of any US economic data, we were surprised to see a fresh wave of selling on news from Sweden [that its] central bank [has] cut their dollar reserves by 17 percent and increased their euro reserves by 13 percent.Any move against Iran now will send our economy into a tail-spin.
Russia took this opportunity to add their two cents by saying that the dollar was not the “absolute” reserve currency and the country’s trade and current account deficits could affect’s it attractiveness in the future.
Data from Switzerland also indicates that the central bank has reduced the share of dollars in its reserves and instead has increased its share of yen reserves. This comes on the heels of comments by Iceland on Wednesday about their possibility of abandoning the volatile Krona in favor of the more stable Euro.
posted by qrswave @ Saturday, April 22, 2006
25 Comments:
Sh*t!!! We're in it now.
I'll say! There's only one way out of this madness.
America must take control of its monetary system away from the FED, which is nothing but a front for greedy international bankers.
Equally as silly to put money in the yen though. The euro is a better play.
Thanks for the tip, anon. But, you're missing the point. We're trying to get rid of moneychangers here - not advise them!
Nevertheless, thanks for sharing your thoughts...I know you mean well...:)
You should give up.. we have full control. Soon sites like this will be no more.
Your on notice-
go ahead, make my day...:P
As the economy continues to collapse we can only blame 4$ a gallon Bush and the Republican controlled Congress all oil company toadies. War is a great way to redistribute wealth from we the people to the megarich and the well connected. We have hit the point of no return with the debt-there isn't a tax increase big enough to get this country out of the hole it is in. Sit back and enjoy the collapse of the us economy.Too much damage done to reverse course - TITANTIC.
but, there is something we can do - REASSERT our sovereignty, write off all interest-related debts to international financiers, and take control of our money supply again.
The only way to save our nation is through bankruptcy reorganization and nationalization of our money supply, so that money serves the people of this nation and not the other way around.
"You should give up.. we have full control. Soon sites like this will be no more.
Your on notice-"
This post MUST have been made by Bush himself! It's "YOU'RE", (contraction for you are) not "your".
George, you're an illiterate redneck.
www.thefairandbalancednews.com
This article is a little unclear about the Yen. The sources I read said that Sweden dumped the dollar and the yen. The last paragraph above is talking about Switzerland, though, I guess. A bit unclear.
Another funny thing is that all of the financial papers in the US are saying that Sweden lowered its US dollar reserves by 17%. What they actually did was lower their US dollar holdings from 37% to 20% of their portfolio. By my old-fashioned arithmetic, 17 is 46% of 37, so they dumped 46% of their dollars. Big difference there.
m_astera
many thanks, m_astera, for pointing that out! Typical of those liars to not know their math, or to know it and lie anyway.
hey, nice one, anon 1:13! That's scary though, bush, here? gives me the heebee- jeebees
Is this Sweden or Switzerland? Things from Sweden are Swedish and things from Switzerland are Swiss. Sweden is in the north of Europe and Switzerland in the alps.
The economy is going to get really bad. But hopefully people will wake up and the revolution will take out the corporate terrorist bankers.
"Data from Switzerland also indicates that the central bank has reduced the share of dollars in its reserves and instead has increased its share of yen reserves."
This is a very populist statement! What was your source of (dis)information?
USD: Q1 2006*: 34.9% / Q4 2005 35.0%
EUR: Q1 2006*: 47.1% / Q4 2005 46.3%
JPY: Q1 2006*: 3.1% / Q4 2005 1.9%
Source: SNB (www.snb.ch)
* data published on 20th april 2006
i guess justice will be served...
its payback time for 400 years of devil worship.
Anon Apr 23 12:20 said:
"This is a very populist statement! What was your source of (dis)information?"
You make a very good point. You can never tell why information is "released."
But, the numbers you posted (assuming those are percentages of foreign currencies on reserve) are not inconsistent with the statement. So, I'm not sure that I understand your point.
Also, it would be great if you could you include a link to the specific page.
@qrswave
Yes, these are the percentages of foreign currencies on reserve (after conversion into Swiss Francs).
This is the link to the specific page (sorry, only available in german and french).
http://www.snb.ch/d/publikationen/monatsheft/aktuelle_publikation/pdf/statmon_DF/A3_2_Devisenanlagen_der_SNB.pdf
Yes, the Swiss National Bank did reduce the share of dollars. To use this marginal change as an argument in this context is not inconsistent but populist (at least in my opinion). If, then the SNB has reduced the share of dollars in favor of EUROS - but this is not what your statement says.
I share your opinion that "America is approaching an economic crisis", but you cannot use the slight change of USD in the reserve of SNB as an argument.
Please, be precise - otherwise you endanger the credibility of your whole message.
"To use this marginal change as an argument in this context is not inconsistent but populist"
Anon, fair enough.
But, I think you're confusing the report, which says that SWEDEN's central bank dumped dollars, NOT Switzerland's.
The nominal reduction in Swiss dollar reserves only illustrates a broader trend.
Bernanke IS politically independent from the president - he answers to international bankers, just like Greenspan before him.
my 2 cents here.....
with US huge X trillion dollars Deficits, and the treasury bills are owned by non-US entities i.e China, technically US is as good as any country to be financially controlled by IMF.
Unthinkable ??? Wake up!!!
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