"If you bring forth what is within you, what you bring forth will save you. If you do not bring forth what is within you, what you do not bring forth will destroy you."

Sep 15, 2007

Fear of Dollar's Collapse

Dollar's retreat raises fear of collapse

FRANKFURT: Finance ministers and central bankers have long fretted that at some point, the rest of the world would lose its willingness to finance the United States' proclivity to consume far more than it produces - and that a potentially disastrous free-fall in the dollar's value would result.

But for longer than most economists would have been willing to predict a decade ago, the world has been a willing partner in American excess - until a new and home-grown financial crisis this summer rattled confidence in the country, the world's largest economy.

On Thursday, the dollar briefly fell to another low against the euro of $1.3927, as a slow decline that has been under way for months picked up steam this past week.

"This is all pointing to a greatly increased risk of a fast unwinding of the U.S. current account deficit and a serious decline of the dollar," said Kenneth Rogoff, a former chief economist at the International Monetary Fund and an expert on exchange rates. "We could finally see the big kahuna hit."


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~There is no God and we are his prophets.~

-Cormac McCarthy-

Man is superior to the stars if he lives in the power of superior wisdom. Such a person being the master over heaven and earth by means of his will is a magus and magic is not sorcery but supreme wisdom



'The nationalist not only does not disapprove of atrocities committed by his own side, but he has a remarkable capacity for not even hearing about them'.....'Every war when it comes, or before it comes, is represented not as a war but as an act of self-defense against a homicidal maniac.'.....'In times of universal deceit, telling the truth will be a revolutionary act.'.....'War is peace. Freedom is slavery. Ignorance is strength.' George Orwell

war is terror

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