[Video] Robert Fisk responds to the denials of ‘dollar demise’ report

October 8th, 2009 by stacyherbert

Stacy Summary: Good stuff.

Tags: 166 Comments

166 responses so far ↓

  • Ilya Kuryakin
    Oct 8, 2009 at 7:51 am

    re being poor/broke (or not):

    Learn Chinese, specifically Mandarin. It will be very useful in the near future.

    I suggest the Michel Thomas method – you can download it via torrent.

  • Dedo
    Oct 8, 2009 at 7:53 am

    @Ilya Kuryakin,……..more sound advice,……cheers!!
    @Super,…..watch and learn,….watch and….: )

  • Dante
    Oct 8, 2009 at 7:54 am

    That’s what I figured…an impotent response! Just like your commentary.

  • Dedo
    Oct 8, 2009 at 7:55 am

    @Phil,…….Re: learnin’ Mandarin,….you reckon it can be done in six monat,..with the right mindset?

  • Youri Carma
    Oct 8, 2009 at 7:56 am

    Last week, many of the aboriginal people in the remote west coast village of Ahousaht were innoculated with the tamiflu vaccine. Today, over a hundred of them are sick, and the sickness is spreading.

    The Mask Slips, for Those with Eyes to See: Preparing for the Real Pandemic http://tinyurl.com/ndfxcx

  • Dedo
    Oct 8, 2009 at 7:58 am

    @Dante,……; )

  • Hawk of Terror
    Oct 8, 2009 at 7:59 am

    For my 2 cents:

    - 66% of Central Bank reserve assets are still denominated in USD.

    - USD denominated credit markets are still by far the deepest in the world.

    - The process of supplanting the global reserve currency is likely to be more gradual than sudden, insofar as the process is constrained to reflect international currency and trade flows. Yes there are massive structural imbalances, but without changing these imbalances (not something that can be accomplished overnight), “dumping” the dollar doesn’t seem a plausible scenario. Besides, the current “green shoots” rally/recovery is only further exacerbating these imbalances.

    - Ironically, it seems only a chronically strong USD could act as a catalyst for rebalancing global trade, and ultimately moving beyond the USD hegemony. In the context of the current debt burden, a strong dollar would signal that the debt bubble was finally in a process of deflating. Insofar as this implies severe austerity for the US consumer, it would also force producers around the world to look elsewhere to sell their products and in this way begin to change global trade flows.

    - In theory, there is nothing stopping Central Banks from diversifying their assets away from USD’s (a.k.a. the “nuclear” option). But again, it seems such a move is unlikely not only because of the inconceivable panic this would imply, but simply because such a move would not be reflective of “reality” … yet. As long as such a move does not reflect the underlying currency and trade flows, it seems the supply shock such a move implies would prevent any foreign Central Bank from enacting such a move, at least in any decisive manner.

    - Finally, it seems to me, the only true black swan out there is a collapse in the global fiat system. Richard Karn makes a good point I think when he notes that all fiat currencies around the world are essentially derivatives of the USD (Cf. Credit and Credibility http://www.financialsense.com/fsu/editorials/karn/2009/0715.html ). If the USD goes down, they all go down!

  • WL
    Oct 8, 2009 at 8:01 am

    @Youri

    That article is wrong Tamiflu is not a vaccine..However I agree with the sentiment re flushot

  • Danny
    Oct 8, 2009 at 8:01 am

    @Youri
    Dutch unions protest raising legal retirement age to 67
    http://www.earthtimes.org/articles/show/289082,dutch-unions-protest-raising-legal-retirement-age-to-67.html

    Students protest in Ireland. Students asked to “pay for the bankers, developers, builders and their lavish expense accounts . . .”

    U.S. Marines and Army set up base in Uganda. Troops arrive in Kitgum District for exercise with troops from Kenya, Tanzania, Rwanda, and Burundi. (Kick the Chinese out of Africa)
    http://www.monitor.co.ug/artman/publish/news/US_army_sets_base_in_Kitgum_District_92600.shtml

    Code Pink re-thinking its opposition to U.S. troop presence in Afghanistan. Just like MoveOn.org, follow Code Pink’s funders — and voila: George Soros and his gang.
    http://latimesblogs.latimes.com/washington/2009/10/code-pink-fearful-of-setbacks-for-women-rethinks-call-for-us-troops-to-withdraw-from-afghanistan.html
    http://www.irishexaminer.com/world/students-protest-extra-conferring-charge-102854.html

  • Supergeek
    Oct 8, 2009 at 8:02 am

    @d3do
    dedo…you know you can’t learn from anything that is too easy!!!
    PS. I’m not a big Spike Lee fan but I always liked this scene of his the best!!!
    http://www.youtube.com/watch?v=FebGrU0i3V8

  • Danny
    Oct 8, 2009 at 8:03 am

    Students protest in Ireland. Students asked to “pay for the bankers, developers, builders and their lavish expense accounts . . .”
    http://www.irishexaminer.com/world/students-protest-extra-conferring-charge-102854.html

  • WL
    Oct 8, 2009 at 8:03 am

    Gold bounced movin up again 1051.70, oil movin up 71.35

  • Dedo
    Oct 8, 2009 at 8:06 am

    @Super,……LOL,…

  • Youri Carma
    Oct 8, 2009 at 8:09 am

    “People will die because of the BBC decision” – Tony Benn http://tinyurl.com/ye7xqr5

  • dan valley
    Oct 8, 2009 at 8:09 am

    “Let It Ride”
    sorry i meant the 2 horse…..

    http://www.youtube.com/watch?v=YUuFVVG0q-4

  • Paul
    Oct 8, 2009 at 8:12 am

    @Photoception

    Like you, I am not rich. I am in debt, and the reality is, you can still take some measures to protect yourself in these days and times.

    I hope at this point you’ve made some relationships with neighbors or close friends whereby you’ve made provisions like a co-op garden or food storage.

    Beyond that, all you can do is be the change you wish to see; inform everyone who seems smart enough to understand what is going on and create alliances so that when the going gets bad, you’re a resource or at the very least, you’ve got a list of people to refer to for assistance.

    Best of luck.

  • Supergeek
    Oct 8, 2009 at 8:16 am

    @Paul Anderson
    It Bees That Way…
    Great link…I remember when i read ‘the mayan prohecies’ a few years ago..I didn’t understand all of it, not being that good at maths… but the book did make a really strong impression on me and I found it really,really interesting!!!

    frikkin’ pickin’ right…where was I…oh yeah

  • dan valley
    Oct 8, 2009 at 8:16 am

    @ Ilya…yeah nice….

  • Mep
    Oct 8, 2009 at 8:17 am

    Makes sense that people would sh!t on each other a bit seeing as how most of us feel that forces beyond our control are sh!tting on us all as a collective. At the same time, I’d like to think that everybody here is decent enough in real life to know that it makes more sense to offer our fellows a hand up rather than a shove down.

    Re: the dollar, the best we can hope is that the transition is somewhat orderly.

  • dan valley
    Oct 8, 2009 at 8:17 am

    they are all fit and fine actually

  • Photoception
    Oct 8, 2009 at 8:23 am

    @all

    I didn’t mean to complain about my situation, I’m just frustrated, there’s no good jobs here since before Bear Stearns blew up.

    And I should have known better to knock gold ’round here. But I want the dollar to go up so I can afford to actually fill my gas tank once this year.

  • Dedo
    Oct 8, 2009 at 8:24 am

    @Mep,…I hope you realize the only person who’s bin derogatory so far,…is Dante,.and he isn’t aware of it (bless)

  • Dante
    Oct 8, 2009 at 8:32 am

    Dedo..I thought it was a pretty contained comment…directed toward someone that felt good about beating another that was downtrodden…just like the elitists everywhere…btw, dedo did you lose your finger?

  • frances snoot
    Oct 8, 2009 at 8:35 am

    AdamGibson:
    Do you have the link for that Bloomberg podcast?

  • Mep
    Oct 8, 2009 at 8:36 am

    @Photoception – You have nothing to apologize for. I’ve never been able to earn much more than poverty wages, myself, because all of the jobs I’ve had were in human services, and society doesn’t value that. If not for my fiance, I’d be in a very bad way despite my frugality and the fact that I only hold student loan debt. I hope that something turns up for you.

  • frances snoot
    Oct 8, 2009 at 8:36 am

    @Youri:
    The teenager you linked, Rolf Winkler, said this:
    “No one can really envision a replacement for the dollar right now…I can’t either.”

    bollocks

  • Phil
    Oct 8, 2009 at 8:37 am

    @Dedo …”Re: learnin’ Mandarin,….you reckon it can be done in six monat,..with the right mindset?”

    Well, maybe enough time for the 4,000 letter alphabet !
    ;-)

  • Phil
    Oct 8, 2009 at 8:39 am

    @Youri: “No one can really envision a replacement for the dollar right now…I can’t either.”
    @frances snoot .. “bollocks”

    Think “digital” !
    ;-)

  • Nic Abbott
    Oct 8, 2009 at 8:39 am

    @Y’all

    Looks like comex tried to short gold to oblivion and failed. Only way is up now.

  • Youri Carma
    Oct 8, 2009 at 8:40 am

    Manhattan rents expected to drop further: report http://link.reuters.com/xur62f

  • Ilya Kuryakin
    Oct 8, 2009 at 8:40 am

    Impressive military display for China’s 60th,
    http://news.xinhuanet.com/english/2009-10/01/content_12146977.htm

    Save pictures 8, 10, and 14 and mail them to the White House: those are what Iran will use to sink the Empire’s entire 5th carrier fleet if Hopey McChange chooses to attack.

  • Supergeek
    Oct 8, 2009 at 8:41 am

    @photo
    I didn’t mean to imply you were ‘down’ either It was a typo, the comments were coming so thick and fast… I couldn’t keep up..I burnt my finger!!!
    @y’all
    I’m gonna pick open something now… For somebody obviously very learned…I think jim is one of the weirdest, dumbest posters..on this site just in front of me of course, but look how his wigged out ramblings have actually been responsible for SOME of the most hilarious and thought provoking exchanges… he along with others seemed to inspire frances, dedo and others to another level…not that I think they need help… but go figure… I’d miss the people that post here me included that obviously really know how annoy people!!!…Go Jihim…Go Mihike (all mikes)… Go Dedo…Go Meheh!!!

  • frances snoot
    Oct 8, 2009 at 8:50 am

    Re: the dollar, the best we can hope is that the transition is somewhat orderly.

    ARRRRGHH. Mep, you don’t get it! If the transition is orderly then the forces will proceed with slavery and genocide. The Ones in charge of the ‘transition’ are the Ones who have always funded chaos and death.

    Collective guilt to cover the sins of the few has been their modus operandi for centuries. Scapegoat Americans, Goldman Sachs, capitalism, right-wing nuts, neocons, etc….no need for the paradigm anymore. Let’s go with a new mythology!

    The time is past now almost and yet we “hope” for an orderly transition? Shall we queue for hell now?

  • Dedo
    Oct 8, 2009 at 8:54 am

    @Frances,…….Like I said Frances,…..your posts are the most informative!! (LOUD APPLAUSE)

  • frances snoot
    Oct 8, 2009 at 8:55 am

    if Hopey McChange chooses to attack.

    Good God, Ilya. You do give the man some personal agency. What an imagination you have! He is a prop: did’t you notice his limbs and head are attached to strings?

    He’s been busy blowing love bubble at the UN.

  • Supergeek
    Oct 8, 2009 at 9:08 am

    @frances
    Life… paradox after paradox… the need for chaos, death…and rebirth… seems to be hard hard wired into our whole existence… and though most of us understand or accept it.. sometime we all just want a rest from it… aahh the security of a nice warm dim lit room!!!
    For All The Regulars Me Included.
    http://www.youtube.com/watch?v=Usuu-xu75dI

  • frances snoot
    Oct 8, 2009 at 9:08 am

    @Dedo:
    It seems to me everyone should be most worried about the US future ability to export war: instead of a spiralling debt load and high interest rates, the route seems to be a devaluation of the dollar through IMF manipulation of sdrs. IMF has already indicated a dollar devalution and the US as an export country should be pursued. We’d be like happy happy China of the Ilya persuasion; but instead of car bobble heads we’d send some large arms and taser guns to keep the world citizens in line for the elite. Fun times are coming.

  • Ilya Kuryakin
    Oct 8, 2009 at 9:10 am

    My original name for him was Bobblehead…then some prick went stole my idea,

    http://topnews.in/files/Barack-Obama-Bobblehead.jpg

    “He is a prop: did’t you notice his limbs and head are attached to strings?”

    Of course! The “Hopey McChange” is my way pissing on the Limousine Liberal sycophants, like those douchebags at HuffPo, who actually admire and believe in this fucking robot.

  • WL
    Oct 8, 2009 at 9:12 am

    Gold breakin out 1060.30

  • Youri Carma
    Oct 8, 2009 at 9:13 am

    @Phil

    Well he’s got a point there but there are a lot of other ways to trade. I’ve asked this question many times which no economic seems to be able to answer: “How much trade is done by just exchanging goods?” I remember from years ago when there still where some good economics around this number was huge.

    But this kind of trade can only be done if you have something tangible to offer in return. So maybe the fiat currencies get boycoted all cause countries only want to trade in real value tangible stuff like food and other commedities and gold of cause.

    Apoligize for taking it out on the poor guy cause I am poor myself too but just couldn’t stand this inward vision anymore but the US is not the only one. I think the Netherlands is an exception on a lot of countries always having their view more outside cause of it’s size and trade position.

  • frances snoot
    Oct 8, 2009 at 9:16 am

    @Ilya:
    LOL. Your latest avantar is the best. I like her gaze into the heavens: brings divinity to your message. Is she your muse?

  • frances snoot
    Oct 8, 2009 at 9:17 am

    Or maybe she just getting poked from behind….

  • Ilya Kuryakin
    Oct 8, 2009 at 9:20 am

    @frances

    “It seems to me everyone should be most worried about the US future ability to export war”

    Exactly my point! That’s why the Empire needs to be smashed into a thousand pieces. Forthwith.

  • frances snoot
    Oct 8, 2009 at 9:24 am

    Spare me, oh Ilya! Oh Great One! Save my dwelling place and my progeny to walk freely upon thy soil, Oh Enumerator of Justice!

  • Supergeek
    Oct 8, 2009 at 9:27 am

    @d3do@frances
    yeah, yeah…mutual masturbation…we get the pitcher… if max and stacy are bonnie and clyde who does that make us???(those not acting like uncle)
    WARNING BRACE YOURSELVES FOR BIG NEWS!

    http://www.youtube.com/watch?v=7bfHsOPxSBE

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