Lazard dumps the dollar . . . for sterling??

Posted on October 23, 2009 by stacyherbert| 54 Comments

Stacy Summary:  Out of the frying pan and into the fire?

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54 Responses to Lazard dumps the dollar . . . for sterling??

  1. Mike/Liverpool | October 23, 2009 at 9:27 am |

    1St?
    Mike

  2. Mike/Liverpool | October 23, 2009 at 9:27 am |

    It can’t come soon enough…..
    Mike

  5. Mother earth | October 23, 2009 at 9:32 am |

    @Stacy

    He’s right, I don’t either, that is what I like about it ;-)

  6. jimmydee | October 23, 2009 at 9:41 am |

    Why Sterling? I thought that would be the last place to run too.

  7. frances snoot | October 23, 2009 at 9:43 am |

    The ZeroHedge site is written for knuckle-draggers.

  8. Mongo | October 23, 2009 at 10:01 am |

    @Stacy, Is roubini a Goldmanite these days?

  9. stacyherbert | October 23, 2009 at 10:02 am |

    @jimmydee – I would think it has something to do with the liquidity they mention; namely all the Russian & Middle East cash looking for safe haven from their own people/govts but that won’t put it into US because of patriot act

  10. Phil | October 23, 2009 at 10:05 am |

    While we were sleeping …

    Senate passes hate crimes bill
    http://www.politico.com/news/stories/1009/28640.html#

    .. and just listen to these guys talking about more Billions for the Pentagon …

    … such as the ability to transfer military equipment including weapons to Iraq and Afghanistan and more than $1 billion for a Commanders Emergency Response Funds that military commanders can spend at their own discretion….
    …
    … Pratt & Whitney, which is already making an engine for the Joint Strike Fighter program, has picked up. “Even if they are able to find the $500 million-plus to fund the [alternate] engine, …
    …

    A HALF A BILLION US$ just to build an ENGINE ?
    = $ 500,000,000 ….
    … are they building Flying Saucers or what ?

    ;-)

  11. frances snoot | October 23, 2009 at 10:07 am |

    @Stacy:
    Thought you’d find this interesting after our discussion yesterday!
    http://www.businessinsider.com/entire-media-in-revolt-after-white-house-denies-fox-an-interview-with-pay-czar-2009-10

  12. Dan | October 23, 2009 at 10:12 am |

    Just in fighting, power struggles.

  13. Dante | October 23, 2009 at 10:14 am |

    That’s good….most of us don’t believe in Santa Claus but that doesn’t mean there won’t be a Christmas!

  14. Phil | October 23, 2009 at 10:19 am |

    Times of India : China to use ASEAN meet to make Yuan an international currency

    …
    BEIJING: China is set to use the ASEAN meet to sell the idea of making the Yuan an international currency. It is

    using the sense of
    uncertainty over the US dollar to sell a new dream of enlarged regional trade, financial support
    from Beijing and reduced dependence on the volatile dollar.

    China has also offered to contribute nearly one-third of the $120 billion economic stimulus package being worked out by ASEAN with the stated purpose of helping member-nations reduce their dependence on the International Monetary Fund. Japan offered to cough up a similar amount so that its influence in the region is not diminished.

    A senior Chinese official has said that the China-ASEAN Free Trade Area agreement, which will come into being on January 1 of 2010, will result in wide scale use of the renminbi or Yuan as the regional currency.
    …
    …
    …

    http://timesofindia.indiatimes.com/world/china/China-to-use-ASEAN-meet-to-make-Yuan-an-international-currency/articleshow/5153779.cms

  15. stacyherbert | October 23, 2009 at 10:20 am |

    @frances snoot – I’m glad they did that and I wish that Fox had done the same when Cheney/Bush did the same to the other team . . . the team wearing I think it was blue shirts; hopefully they will next time . . . I also think, however, that the President should be accessible to new media as well for as it is, it is a closed system of just a handful of very powerful mega corporate press that have most of the freedom to speak to our elected officials

  16. frances snoot | October 23, 2009 at 10:27 am |

    I agree, Stacy.

    Excuse my impassioned vigor. I feel a bit LaRouche at times.

  17. frances snoot | October 23, 2009 at 10:31 am |

    Forgive me, but fair is fair and the ‘joker’ was so disturbing on Obama so:

    http://www.liberalconspiracy.org/images/bbdo/rupert_murdoch_joker.jpg

  18. jj | October 23, 2009 at 10:44 am |

    Revenge from the EAST to the WEST, will begin on the 25th of October (Sunday), 26th (Monday) in Asian time.
    Amerika is doomed!

  19. frances snoot | October 23, 2009 at 10:45 am |

    @jj
    WHAT????

  21. LA | October 23, 2009 at 10:50 am |

    does this say something about the dollar or does this say something about Lazard?

  22. Phil | October 23, 2009 at 10:53 am |

    @frances … What ? .. I missed the smiley !

    “jj” is talking about the Webbot prediction for the 25th. Oct. 2009.
    Me? .. I’ve seen so many dates predicted by Webbot, I suppose there is a chance that they might finally get one right !
    ;-)

    OTOH, Denninger is predicting something nasty over the next weeks or months .. just hope he doesn’t mean “days” .. as per the Webbot !
    I won’t print the link … because I think that type of rumor may actually cause people to panic – after all, it’s only Karl’s rumor sources. Hoping we’ll all be here on Monday !
    ;-)

  23. buddhabob | October 23, 2009 at 10:54 am |

    Its time to turn Tracy Morgan loose on the Dollar. He can engage his favorite and much confessed fantasy with it. Now that Greenspan and Bernanke have licked the dollar brown eye for years I say leave some for Morgan!

  25. frances snoot | October 23, 2009 at 10:55 am |

    jj:
    I love Rammstein!

    @Phil:
    Time to start looting the toilet paper at the mall!

  26. snipertrader | October 23, 2009 at 10:56 am |

    why not the chinese yuan ? After all, that is where the power and money is shifting.

  27. white hunter | October 23, 2009 at 10:57 am |

    why not the ruble. It, too, is backed by nuclear weapons.

  28. frances snoot | October 23, 2009 at 10:57 am |

    @jj
    I take it you are not overly fond of America?

    Sometimes the worst bully is supported on the playground by the fascination and vested interest of the other children.

  29. frances snoot | October 23, 2009 at 10:59 am |

    jj:
    Google Allianz group. If the Treasury Secretary works for Goldman Sachs, and Goldman Sachs works with Allianz, then whom does Allianz work for?

    Hatred is easy. Understanding takes some work.

  30. Adam C | October 23, 2009 at 10:59 am |

    Apologies if repost…

    City workers: ‘We’re worth our bonuses’
    Six beneficiaries of fat City bonus cheques explain why they deserve the money, and how their pay packets benefit us all
    http://women.timesonline.co.uk/tol/life_and_style/women/the_way_we_live/article6884355.ece

  31. Phil | October 23, 2009 at 11:01 am |

    Anyone notice the DJIA is having trouble holding 10K ?
    OK.. it’s Friday I suppose … but it seems those buyers that brought it from 6600 are out of breath now …. or short !
    ;-)

  32. Pez | October 23, 2009 at 11:04 am |

    Lizzard…selling the dollar short, eh?

    Must already be broke and grappling for straws. The US will make an example of this foreigner.

  33. Michael Le Couteur MSCD ret'd | October 23, 2009 at 11:04 am |

    If people are expecting the Web Bot project to predict when gas will jump a penny, when they should plant their corn or if their significant other is banging the next door neighbour, they haven’t a clue. It doesn’t work that way. Good luck with your analysis.

  34. jj | October 23, 2009 at 11:15 am |

    Maybe… The Iraqis should mix in the “Depleted Uranium” in the oil, and export it to the United States!

  35. frances snoot | October 23, 2009 at 11:23 am |

    @Phil:
    I read it. Denninger excepts a dollar rally and a deflationary collapse.

  36. Phil | October 23, 2009 at 11:26 am |

    @frances .. yes.. and the bank he mentioned wasn’t good news either !

  37. Phil | October 23, 2009 at 11:36 am |

    @Jibber Jabber : Very interesting German TV Report on Spain Real Estate … last night.

    Lots of Millionaire Villas going cheap.
    e.g. 1.8 Mio. Euro Villa going for 1 Mio.
    Some fabulous proerty for sale … really !

    The best part was the ideas the owners are coming up with the sell at a reasonable price…. via Private Lottery !

    For example, if a Villa costs 500,000 Euros, the owner sells 5,000 Lottery Tickets “Online” at 100 Euros each. If the full quota needed ( 5,000 in this example ) is reached , a winner is chosen ( using a Notary )…. The others lose their money of course.
    If the quota is not reached, the money is supposed to be returned … “minus expenses” !!

    There are a few Companies that organize such Lotteries … and the TV pgm was examining how “serious” they were !

    Good idea all the same !

  39. Frank Hope | October 23, 2009 at 11:38 am |

    The dollar still has its uses.

  40. Frank Hope | October 23, 2009 at 11:41 am |

    The dollar still has its uses.

    [IMG]http://dummidumbwit.files.wordpress.com/2009/08/chimpanzee-money-picture-dollar.jpg[/IMG]

  41. Frank Hope | October 23, 2009 at 11:45 am |

    @stacy

    I thought you said there was a way to embed images in the comments. I tried a couple of different ways and nothing worked. What’s the secret?

    The dollar still has its uses.

    I know I can link like above, but I actually embed an image so that it appears inside the comment?

  43. Supergeek | October 23, 2009 at 12:41 pm |

    @phil
    ‘I won’t print the link … because I think that type of rumor may actually cause people to panic – after all, it’s only Karl’s rumor sources. Hoping we’ll all be here on Monday !’

    Who told you my name was Karl????

  44. Phil | October 23, 2009 at 12:51 pm |

    @SG , I mean Karl !
    … and I didn’t know you were Denninger !
    ;-)

  45. ronron | October 23, 2009 at 3:12 pm |

    you know the fix is still in and will be for 2 more years. gold nov 2010 1620.00 us. silver 48.09. us. dollar .61. relax and buy metal

  46. ronron | October 23, 2009 at 3:18 pm |

    oh and along wit boycotting cocacola. don’t ever get vaccinated again and burn your presciptions . eat right and exersise. get big pharm. bang

  47. ronron | October 23, 2009 at 3:21 pm |

    i mean’t bong not bang. no bang. where are my keys

  48. Dedo | October 23, 2009 at 3:48 pm |

    @Frances,….I’m beginning to worry about your obsession with toilet paper, I know a guy,..if you really,..you know,.just have to ask,..

  50. Daniel S | October 23, 2009 at 4:01 pm |

    Lazard dumps beads for sea shells.

  51. Illya Kuryakin | October 23, 2009 at 5:34 pm |

    Nouriel Roubini is an establishment mouthpiece, always has been.

  52. Illya Kuryakin | October 23, 2009 at 5:38 pm |

    This whole Lazard thing is an obvious feint designed to fleece boneheaded investors once again. It’s pathetic.

  53. Adam Gibson | October 24, 2009 at 1:23 am |

    Nouriel “Dr Doom I’m a permabear who’s been calling for dollar collapse since ’03, then pretend I made a perfect call when the Dow collapses and the dollar soars, then do a victory lap round South East Asia at the exact bottom of the market” Roubini you mean?

  54. naomi | October 24, 2009 at 11:25 am |

    @ frances re: the joker image…

    Oh dear, oh dear, my eyes, my eyes!!!!!!