INTERNATIONAL. The dollar may fall below ¥75 next year as it becomes the world’s “weakest currency” due to the Federal Reserve’s monetary-easing program, according to JPMorgan & Chase Co.
The U.S. central bank, along with those in Japan and Europe, will keep interest rates at record lows in 2011 as they seek to boost economic growth, said Tohru Sasaki, head of Japanese rates and foreign-exchange research at the second-largest U.S. bank by assets.
U.S. policy makers may take additional easing steps following the US$600 billion bond-purchase program announced this month depending on inflation and the labor market, he said.
“The U.S. has the world’s largest current-account deficit but keeps interest rates at virtually zero,” Sasaki said at a forum in Tokyo yesterday. “The dollar can’t avoid the status as the weakest currency.”
The Fed said on Novenebr 3 it will buy US$75 billion of Treasuries a month through June to cap borrowing costs. The central bank has kept its benchmark rate in a range of zero to 0.25% since December 2008. The Bank of Japan on October 5 cut its key rate to a range of zero to 0.1% and set up a ¥5 trillion (US$59.9 billion) asset-purchase fund.
Maybe we should have a Bank Run
ReplyDeleteon JPMorgan & Chase Co.
Oh and maybe buy some Silver with the
money we take out of their banks to
slam them on their Silver short selling
they do to keep down the price of silver.
Oh... maybe we should just join Europe on
the Bank Run they are planning for
December 7, 2010 sort of a Pearl Harbor
on the Banksters.
Boomers won't get the worst of it. Even though many of their selfish asses like to boast about how they are. The generations after, X and Y are the ones that will have it worst. Generation Z will only have a chance if the X and Y generation will survive hell and get them to the "other side".
ReplyDeleteThe boomers at least got to live when the world was somewhat good. At least the country was. What will the younger people have? Cry me a river, the boomers don't get to retire. It's tragic, but they are the least that should be crying.
with a week dollar those retired baby boomer seniors on fixed incomes will not be able to afford all the made on china atuff at wallmart, or a chinese / japanese made lock in order to lock out their annoying kids on food stamps coming round for a handout.
ReplyDeleteHahaha, a Chinese jackboot crushing the face of Amerika, and grinding into piles of worthless dollars, will you turn to your reactionary fascist re-vamped GOP, born again as the Tea Party, lead by that marionette Palin, guided by the demagogue Glenn Beck... she'll lead you directly to a war in the Pacific with the Chinese, unless a class and race based civil war erupts in your own country, which would save the world from a nuclear holocaust of unimaginable proportions and the end of our species. Amerikas sense of its own humanity died on the gallows along with the Chicago Martyrs. We europeans despise your vapid, paranoid, selfish and destructive culture, but we hope you will regain some self-respect and return to your true roots -not the propaganda of Hollywood Westerns 'rugged individualism'- but the heart of America, where freedom from the state was paramount, where europeans looked to escape from tyranny, the world of the Wobblies, Thoreau, Woody Guthrie, the cape codders, Sacco and Vanzetti,and the Great Rising of July 1877! Organise!
ReplyDeletethe world of the Wobblies, Thoreau, Woody Guthrie, the cape codders, Sacco and Vanzetti,and the Great Rising of July 1877! Organise!
ReplyDeleteThanks for the tip !
if all that lot are on "Dancing with the Stars" next week I will pre-set my program guide timer so i dont miss out on nuthin historical .
It's either that, or the federal government will be "Dancing on your dumb ass"...Watch the movie "The Road" to see what the U S of A will be like in the future-merely an extension of the social cannibalism you practice now- watch this and learn sumthin', colonial cousin-
ReplyDeletehttp://www.youtube.com/watch?v=1gKX9TWRyfs