The Fat Lady & The US Dollar!

[Peter Hansen]

Growing up over the years , the American Dollar was highly respected by many countries. Now the stage is set , and the "Fat Lady" is in the wings, ready to sing for the American Dollar! WTF happened ? How did we ever come to this very sad situation?
According to Porter Stansberry in his 11/28/09 "Daily Wealth Publication" America's position is precarious at best , and "A Guaranteed Default" or in plain English , bankruptcy is inevitable! Basically he states we have 500 billion in reserves , and we owe foreign creditors 800 billion, and in the next 12 months the US will incur a 1.5 Trillion dollar deficit.
To protect yourself he recommends buying gold, silver, farmland and foreign real estate .
I feel you can also play the Power Shares US Bearish Dollar index ETF UDN. Of course if calamity strikes and the institution selling this ETF goes belly up ......try to collect LOL!
Oh well here is the link to the article , chilling.....but DEFINITELY worth the read!

http://www.dailywealth.com/index.asp?subscribed=yes#

[Peter Hansen]

China Has Doubts ......Can You Blame Them!

With Helicopter Ben and Tax Cheat Timmy Geitner in charge the DOLLAR will continue to drop according to a Chinese official....READ THIS


From Bloomberg Dec 17th:
Chinese Central Banker Zhu Says Dollar Set to Weaken
Dec. 17 (Bloomberg) - Chinese central banker Zhu Min said that the dollar is set to weaken further and it will become more difficult for nations to buy U.S. Treasuries.
"When the U.S. has to fund its deficit through the combination of issuing more Treasuries and printing more dollars, it is inevitable that the dollar will continue to weaken," Deputy Governor Zhu said at a forum in Beijing today. China, the biggest foreign holder of Treasuries with $798.9 billion of the securities, expressed concern this year at the safety of its dollar assets and central bank Governor Zhou Xiaochuan called for moves toward an alternative global currency. Zhu's comments, which he said were a personal view, focused on the twin U.S. deficits, fiscal and current account. The U.S. can't expect other nations to increase purchases of Treasuries to fund its entire fiscal shortfall, said Zhu, a former vice president of Bank of China Ltd. Efforts by the U.S. to cut its current-account deficit mean other nations accumulate fewer dollars through trade, leaving them with less money to buy Treasuries, he added."


Could Zhu be blowing smoke through his hat ?

[Websman]

Could Zhu be blowing smoke through his hat ?

Gotta love those communist, China guys!
If Obama and crew keep spending money that we don't have, I don't see how the dollar could hold it's value.

One good thing about China...The dumplings in Shanghai are amazing and dirt cheap. When I was there, I could have shrimp dumplings and a diet coke, for lunch, and it only cost fifty cents. The pork dumplings were good too....I can't wait to get back over there.

[Peter Hansen]

Oh Yeah Webs!

Gotta love those communist, China guys!
If Obama and crew keep spending money that we don't have, I don't see how the dollar could hold it's value.

One good thing about China...The dumplings in Shanghai are amazing and dirt cheap. When I was there, I could have shrimp dumplings and a diet coke, for lunch, and it only cost fifty cents. The pork dumplings were good too....I can't wait to get back over there.

Webs Oh Yes, and those Chinese girls really know how to make an egg roll whistle LOL