2009-Oct-26 - More bombs were dropped
More bombs were dropped on this little Third World country than all of those used in the last world war. Millions of people died or were mutilated. When the conversion rate was suspended, the dollar became a currency that could be printed at the wholesale pearl jewelry will of the U.S. government without the backing of a constant value.
Treasury bonds and bills continued to circulate as convertible currency; state reserves continued nourishing themselves on those bills which, on the wholesale pearl jewelry one hand, served to acquire raw materials, properties, goods and services from every part of the world and, on the other, privileged U.S. exports in the face of other economies of the planet. Time and time again, politicians and academics refer to the real cost of that suicidal war, admirably described in the film by Oliver Stone. People tend to make calculations as if the millions were the same. They do not usually take note of the fact that the millions of dollars of 1971 are not the same as the millions of 2009.
One million dollars today, when gold – a metal whose value has been the most stable throughout the centuries – has a price in excess of $1,000 per troy ounce, is worth approximately 30 times what it was worth when Nixon suspended the conversion rate. In wholesale pearl jewelry 2009, $6 trillion is equivalent to $200 billion in 1971. If this is not taken into consideration, the new generations will have no idea of imperialist barbarism.
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2009-Oct-26 - The consumer societies
In the same way, when one speaks of the $20 billion invested in Europe at the end of World War II – in virtue of the Marshall Plan for reconstructing and controlling the principal European powers that had the necessary workforce and technical culture for the rapid development of goods and services – people usually ignore the fact that the real value of what was invested at that time by the empire is equivalent to a current value of $600 billion. They do not game machines note that today, $20 billion would barely stretch to building three large oil refineries capable of supplying 800,000 barrels of gasoline per day, in addition to other oil derivatives.
The consumer societies, the absurd and capricious waste of energy and natural resources that are currently threatening the survival of the species, would not be explicable in such a brief historical period if one is unaware of the irresponsible wholesale pearl jewelry manner in which developed capitalism, in its superior phase, has ruled the destinies of the world.
That astounding waste explains why the two most industrialized countries of the world, the United States and Japan, are indebted to approximately $20 trillion.
Of course the U.S. economy has an annual gross domestic product of $15 trillion. The crises of capitalism are cyclical, as the history of the system irrefutably demonstrates, but this time it is about something more: a structural crisis, as Professor Jorge Giordani, Venezuelan minister of planning and development, explained to Walter Martínez in the latter’s Telesur program last night.
News agency reports circulated today, Friday October 9, add irrefutable data. An AFP cable from Washington notes that the budget deficit of the cultured pearl jewelry United States in the fiscal year 2009 is rising to $1.4 trillion, 9.9% of the GDP, "something unseen since 1945, at the end of World War II," it adds.
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2009-Oct-26 - Nor can the world be inundated
The deficit in 2007 was one third of that figure. High deficit figures are expected for the years 20010, 2011 and 2012. That huge deficit is fundamentally determined by the U.S. Congress, to save that country’s major banks, to prevent unemployment rising above 10% and to pull the United States out of recession. It is logical that if they flood the nation with dollars, the large commercial chains will sell more merchandise, industries will increase production, fewer citizens will lose their homes, the unemployment tide will stop rising, and Wall Street shares will increase in value. However, the world can no longer return to what it was. The inflatable bouncers economist Paul Krugman, an eminent Nobel Prize winner, has just affirmed that international trade has suffered its greatest fall, worse than that of the Great Depression, and has expressed doubts on its recovery in the short term.
Nor can the world be inundated with dollars and think that those bills without backing in gold will maintain their value. Other economies, today more solid, have emerged. The dollar is no longer the hard currency reserve of all states; on the cultured pearl jewelry contrary, its holders wish to move away from that currency, while as far as possible avoiding its devaluation before they can get rid of it.
The European Union euro, the Chinese yuan, the Swiss franc, the Japanese yen – despite that country’s debts – even the pound sterling, together with other hard currencies, have moved to take the place of the dollar in international trade. Gold metal is freshwater pearl necklace once again becoming an important international reserve currency.
This is not a capricious personal opinion, nor do I wish to slander that currency.
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2009-Oct-26 - Another Nobel Prize winner
Another Nobel Prize winner in economy, Joseph Stiglitz, commented, according to one news agency, that the most likely thing is that the green bill will continue its decline. He stated this on October 6 at the IMF World Bank Joint Annual Meeting in Istanbul. Violent repression could be noted in that city. The event was greeted with broken windows in the commercial sector and fires from Molotov cocktails.
Other agencies talked of the fact that the European countries are fearful of the negative effect of the weakness of the dollar compared to the inflatable bouncers euro and the consequences of that on European exports. The U.S. treasury secretary stated that his country "was interested in a strong dollar." Stiglitz made fun of an official statement and stated, according to EFE: "In the case of the United States money has been squandered and the reason has been the multimillion rescue of the banks and defraying the cost of wars like that of Afghanistan." EFE reported that the Nobel Prize winner "insisted that instead of investing $700 billion to help bankers, the United States should have directed part of that money into helping the developing countries freshwater pearl earrings which, at the same time, would have stimulated global demand."
Robert Zoellick, president of the World Bank, raised the alarm a few days earlier, warning that the dollar could not maintain its status as a reserve currency indefinitely.
Kenneth Rogoff, an eminent professor cultured pearl of economics at Harvard, stated that the next major financial crisis will be that of "public deficits."
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2009-Oct-26 - The World Bank declared
The World Bank declared that "the International Monetary Fund has demonstrated that the central banks of the world accumulated fewer dollars during the second half of 2009 than at any other point in the last 10 years and increased their euro holdings."
That very same October 6, AFP reported that gold reached the record figure of $1,045 per ounce, prompted by the weakening of the dollar and naughty castles fears of inflation.
The Independent newspaper of London published that a group of oil producing countries were studying the possibility of replacing the dollar in commercial transactions with a basket of currencies including the yen, the yuan, the euro, gold and a new unified currency.
The news leaked or deduced with impressive logic was refuted by some of the countries presumably interested in that protection freshwater pearl necklace measure. They do not want it [the dollar] to collapse, but neither do they want to continue accumulating a currency that has lost its value thirty-fold in less than 30 years.
I must mention a cable from the EFE agency, which cannot be accused of being anti-imperialist and which, in the current circumstances, includes opinions of particular interest:
"Experts in economy and finance were in dancing pearl agreement today in New York in affirming that the worst crisis since the Great Depression has resulted in this country playing a less significant role in the world economy."
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