Thursday, October 04, 2007
IS CHINA, IRAN, RUSSIA BEHIND FREEFALL
THE EUROPEAN UNION
DANIEL 2:31-33,36-43, DAN 7:3-8,17
First From Daniel Chapter 2
3 BABYLON (HEAD OF GOLD) DAN 2:31-32,36-38, DAN 1:1
4 MEDO-PERSIANS (CHEST & ARMS OF SILVER) DAN 2:32,39, DAN 9:1
5 GREECE (WAIST & HIPS OF BRONZE) DAN 2:32,39, DAN 11:2
6 ROME (2 LEGS OF IRON) DAN 2:33,40, ROM 1:6
7 REVIVED ROME (EU) (FEET IRON & CLAY) DAN 2:33,41-43,10 TOES
Now From Daniel Chapter 7
3 BABYLON (LION WITH EAGLES WINGS) DAN 7:4, DAN 1:1
4 MEDO-PERSIANS (BEAR ON HIND LEGS) DAN 7:5, DAN 9:1
5 GREECE (LEOPARD 4 WINGS, 4 HEADS) DAN 7:6, DAN 11:2
6 ROME (HUGE IRON TEETH) DAN 7:7 (10 HORNS), ROM 1:6
7 REVIVED ROME (EU) DAN 7:8,19-20,23-25 10 HORNS, 10 KINGS
REV 17:9,12, 10 HORNS, 10 KINGS, 7 HILLS ROME. REV 13:1 BEAST WITH 7 HEADS. THE E.U LEADER OF WORLD GOVERNMENT DAN 2:40-45, 7:7-8,23-25,27, 8:23, REV 13:3,7,8,12,14,16
How the European Union Began!
THE EUROPEAN UNION DAN 2:31-33,36-43, DAN 7:3-8,17
1 BELGIUM 1957
2 NETHERLANDS 1957
3 LUXUMBOURG 1957
4 FRANCE 1957
5 ITALY 1957
6 GERMANY 1957
THESE 6 RADIFIED BY THE TREATY OF ROME (REVIVED ROMAN EMPIRE) JAN 1,1958
7 IRELAND 1973
8 DENMARK 1973
9 BRITIAN 1973
10 GREECE 1981 MAGIC 10 TOES AND 10 HORNS DAN 7:23-24,REV 17:9,12
11 SPAIN 1986 DAN 7:24
12 PORTUGAL 1986
13 AUSTRIA 1995
AFTER IT REACHES 13, IT GOES TO WORLD GOVERNMENT DAN 2:40-45, 7:7-8,23-25,27, REV 13:3,7,8,12,14,16. THAN IT SOME HOW ENDS UP BACK AT 10 (WORLD REGIONS, I THINK) WHEN JESUS RETURNS TO EARTH TO RULE AND REIGN FROM JERUSLEM. DAN 2:44-45, 7:9-14,26-27.
DANIEL 2:31-45 King James Bible
31 Thou, O king, sawest, and behold a great image. This great image, whose brightness was excellent, stood before thee; and the form thereof was terrible.
32 This image's head was of fine gold, his breast and his arms of silver, his belly and his thighs of brass,
33 His legs of iron, his feet part of iron and part of clay.
34 Thou sawest till that a stone was cut out without hands, which smote the image upon his feet that were of iron and clay, and brake them to pieces.
35 Then was the iron, the clay, the brass, the silver, and the gold, broken to pieces together, and became like the chaff of the summer threshingfloors; and the wind carried them away, that no place was found for them: and the stone that smote the image became a great mountain, and filled the whole earth.
36 This is the dream; and we will tell the interpretation thereof before the king.
37 Thou, O king, art a king of kings: for the God of heaven hath given thee a kingdom, power, and strength, and glory.
38 And wheresoever the children of men dwell, the beasts of the field and the fowls of the heaven hath he given into thine hand, and hath made thee ruler over them all. Thou art this head of gold.
39 And after thee shall arise another kingdom inferior to thee, and another third kingdom of brass, which shall bear rule over all the earth.
40 And the fourth kingdom shall be strong as iron: forasmuch as iron breaketh in pieces and subdueth all things: and as iron that breaketh all these, shall it break in pieces and bruise.
41 And whereas thou sawest the feet and toes, part of potters' clay, and part of iron, the kingdom shall be divided; but there shall be in it of the strength of the iron, forasmuch as thou sawest the iron mixed with miry clay.
42 And as the toes of the feet were part of iron, and part of clay, so the kingdom shall be partly strong, and partly broken.
43 And whereas thou sawest iron mixed with miry clay, they shall mingle themselves with the seed of men: but they shall not cleave one to another, even as iron is not mixed with clay.
44 And in the days of these kings shall the God of heaven set up a kingdom, which shall never be destroyed: and the kingdom shall not be left to other people, but it shall break in pieces and consume all these kingdoms, and it shall stand for ever.
45 Forasmuch as thou sawest that the stone was cut out of the mountain without hands, and that it brake in pieces the iron, the brass, the clay, the silver, and the gold; the great God hath made known to the king what shall come to pass hereafter: and the dream is certain, and the interpretation thereof sure.
DANIEL 7:1-8,17 King James Bible
1 In the first year of Belshazzar king of Babylon Daniel had a dream and visions of his head upon his bed: then he wrote the dream, and told the sum of the matters.
2 Daniel spake and said, I saw in my vision by night, and, behold, the four winds of the heaven strove upon the great sea.
3 And four great beasts came up from the sea, diverse one from another.
4 The first was like a lion, and had eagle's wings: I beheld till the wings thereof were plucked, and it was lifted up from the earth, and made stand upon the feet as a man, and a man's heart was given to it.
5 And behold another beast, a second, like to a bear, and it raised up itself on one side, and it had three ribs in the mouth of it between the teeth of it: and they said thus unto it, Arise, devour much flesh.
6 After this I beheld, and lo another, like a leopard, which had upon the back of it four wings of a fowl; the beast had also four heads; and dominion was given to it.
7 After this I saw in the night visions, and behold a fourth beast, dreadful and terrible, and strong exceedingly; and it had great iron teeth: it devoured and brake in pieces, and stamped the residue with the feet of it: and it was diverse from all the beasts that were before it; and it had ten horns.
8 I considered the horns, and, behold, there came up among them another little horn, before whom there were three of the first horns plucked up by the roots: and, behold, in this horn were eyes like the eyes of man, and a mouth speaking great things.
17 These great beasts, which are four, are four kings, which shall arise out of the earth.
23 Thus he said, The fourth beast(THE EU,REVIVED ROME) shall be the fourth kingdom upon earth,(7TH WORLD EMPIRE) which shall be diverse from all kingdoms, and shall devour the whole earth, and shall tread it down, and break it in pieces.(TR BLOCKS)
24 And the ten horns out of this kingdom are ten kings that shall arise:(10 NATIONS) and another shall rise after them;(#11 SPAIN) and he shall be diverse from the first, and he shall subdue three kings.(BE HEAD OF 3 KINGS OR NATIONS).
THE EU DICTATOR
1 And I saw when the Lamb opened one of the seals, and I heard, as it were the noise of thunder, one of the four beasts saying, Come and see.
2 And I saw, and behold a white horse: and he that sat on him had a bow; and a crown was given unto him: and he went forth conquering, and to conquer.(THIS IS THE EU DICTATOR)
1 And I stood upon the sand of the sea, and saw a beast rise up out of the sea, having seven heads and ten horns, and upon his horns ten crowns, and upon his heads the name of blasphemy.(7 HEADS ARE THE 7TH WORLD EMPIRE IN HISTORY (THE EU) AS WELL AS THE VATICAN WHICH IS BUILT ON 7 HILLS. 10 HORNS ARE 10 KINGS THAT ARISE FROM THE EU, THEN #11 COMES ON THE SCENE BECOMES THE HEAD OF 3 OUNTRIES AND THEN THE EU DICTATOR, COMES FROM 1 OF THE 3 COUNTRIES THAT RULE FOR THIS TERM. I BELIEVE THE 3 COUNTRIES RULING AT THE TIME ARE SPAIN AND 2 OF THE ORIGINAL 6 THAT STARTED THE EU. FROM 1 OF THESE 3 COUNTRIES COME THE FUTURE EU DICTATOR PRESIDENT OF THE EUROPEAN UNION WHO GUARENTEES ISRAELS SECURITY FOR A LAND FOR PEACE 7 YEAR TREATY.
2 And the beast which I saw was like unto a leopard, and his feet were as the feet of a bear, and his mouth as the mouth of a lion: and the dragon gave him his power, and his seat, and great authority.(THE JEWISH EU DICTATOR GETS HIS POWER FROM SATAN,HE COMES FROM THE OCCULT).
3 And I saw one of his heads as it were wounded to death; and his deadly wound was healed: and all the world wondered after the beast.(THE DICTATOR HAS A FALSE RESURRECTION. JUST LIKE JESUS HAD A LITERAL RESURRECTION THIS DICTATOR GETS MURDERED AT THE 3 1/2 YR MARK OF THR 7 YEAR TREATY AND COMES BACK TO LIFE. THIS IS HOW HE CAN CLAIM TO BE GOD AND GET AWAY WITH IT AND CONTROL THE WHOLE EARTH.
7 And it was given unto him to make war with the saints, and to overcome them: and power was given him over all kindreds, and tongues, and nations.
8 And all that dwell upon the earth shall worship him, whose names are not written in the book of life of the Lamb slain from the foundation of the world.
9 If any man have an ear, let him hear.
16 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
36 And the king shall do according to his will;(EU PRESIDENT) and he shall exalt himself, and magnify himself above every god, and shall speak marvellous things against the God of gods, and shall prosper till the indignation be accomplished: for that that is determined shall be done.
37 Neither shall he regard the God of his fathers,(THIS EU DICTATOR IS A EUROPEAN JEW) nor the desire of women, nor regard any god: for he shall magnify himself above all.
38 But in his estate shall he honour the God of forces:(HES A MILITARY GINIUS) and a god whom his fathers knew not shall he honour with gold, and silver, and with precious stones, and pleasant things.
39 Thus shall he do in the most strong holds (CONTROL HEZBOLLAH,AL-QUAIDA MURDERERS ETC) with a strange god, whom he shall acknowledge and increase with glory: and he shall cause them to rule over many,(HIS ARMY LEADERS) and shall divide the land for gain.
40 And at the time of the end shall the king of the south(EGYPT) push at him:(EU DICTATOR PROTECTING ISRAELS SECURITY) and the king of the north(RUSSIA) shall come against him like a whirlwind, with chariots, and with horsemen, and with many ships; and he shall enter into the countries, and shall overflow and pass over.
A FALSE PROPHET COMES FROM THE VATICAN (EU) ALSO AT THIS TIME.
11 And I beheld another beast (False Pope) coming up out of the earth; and he had two horns like a lamb,(Christianity) and he spake as a dragon.(Satanic)
12 And he (Pope) exerciseth all the power of the first beast (eu Dictator)before him, and causeth the earth and them which dwell therein to worship the first beast,(Eu Dictator) whose deadly wound was healed.(killed and came to life again)
13 And he (false Pope) doeth great wonders, so that he maketh fire come down from heaven on the earth in the sight of men,
14 And deceiveth them that dwell on the earth by the means of those miracles which he had power to do in the sight of the beast;(Dictator) saying to them that dwell on the earth, that they should make an image to the beast,(eu Dictator) which had the wound by a sword, and did live.
15 And he (False Pope)had power to give life unto the image of the beast, that the image of the beast should both speak, and cause that as many as would not worship the image of the beast should be killed.(beheaded)
16 And he(FALSE POPE) causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(CHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM
1 And there came one of the seven angels which had the seven vials, and talked with me, saying unto me, Come hither; I will shew unto thee the judgment of the great whore that sitteth upon many waters:(Vatican in Rome)
2 With whom the kings of the earth have committed fornication, and the inhabitants of the earth have been made drunk with the wine of her fornication.(Vatican in Politics)
3 So he carried me away in the spirit into the wilderness: and I saw a woman sit upon a scarlet coloured beast, full of names of blasphemy,(satanic) having seven heads (7 mountains - Hills) and ten horns.(10 nations or Kings)(THE EU).
4 And the woman was arrayed in purple and scarlet colour, and decked with gold and precious stones and pearls, having a golden cup in her hand full of abominations and filthiness of her fornication:
5 And upon her forehead was a name written, MYSTERY, BABYLON THE GREAT, THE MOTHER OF HARLOTS AND ABOMINATIONS OF THE EARTH.
6 And I saw the woman drunken with the blood of the saints, and with the blood of the martyrs of Jesus: and when I saw her, I wondered with great admiration.
7 And the angel said unto me, Wherefore didst thou marvel? I will tell thee the mystery of the woman, and of the beast that carrieth her, which hath the seven heads and ten horns.
8 The beast that thou sawest was, and is not; and shall ascend out of the bottomless pit, and go into perdition: and they that dwell on the earth shall wonder, whose names were not written in the book of life from the foundation of the world, when they behold the beast that was, and is not, and yet is.
9 And here is the mind which hath wisdom. The seven heads are seven mountains, on which the woman sitteth.(Vatican in Europe EU)
10 And there are seven kings: five are fallen,(Egypt, Assyria, Babylon, Medo-Persia, Greece) and one is, (in power in Johns day - Rome) and the other is not yet come; and when he cometh, he must continue a short space. (REVIVED ROME - 7 YRS)
11 And the beast that was, and is not, even he is the eighth, and is of the seven, and goeth into perdition.
12 And the ten horns which thou sawest are ten kings, which have received no kingdom as yet; but receive power as kings one hour with the beast.
13 These have one mind, and shall give their power and strength unto the beast.
14 These shall make war with the Lamb, and the Lamb shall overcome them: for he is Lord of lords, and King of kings: and they that are with him are called, and chosen, and faithful.
15 And he saith unto me, The waters which thou sawest, where the whore sitteth, are peoples, and multitudes, and nations, and tongues. (Vatican)
16 And the ten horns which thou sawest upon the beast, these shall hate the whore, and shall make her desolate and naked, and shall eat her flesh, and burn her with fire.(nuke her)
17 For God hath put in their hearts to fulfil his will, and to agree, and give their kingdom unto the beast, until the words of God shall be fulfilled.
18 And the woman which thou sawest is that great city, which reigneth over the kings of the earth. (Vatican)
Op-Ed Contributor OCT 2,07
European Union - The Grand Experiment
By Ivan Simic in Belgrade
The European Union (EU) is a multinational union, established in 1993. The EU is made up of twenty-seven Member States. First, the EU was established as the European Economic Community in 1957 by the Treaty of Rome and has since undergone many changes. The EU has a single market between member states with common trade policy. Important EU institutions and bodies include the European Commission, the European Parliament, and the Council of the European Union, the European Court of Justice and the European Central Bank, among others. The end of War World II brought the idea for the unification of Europe, now known as the EU, but some individuals or groups also known as world rulers needed to conduct an experiment before the formation of an important super power such as the EU. And soon, they succeeded; the right person for them was Josip Broz Tito leader of Communist Party and lifetime President of the Socialist Federal Republic of Yugoslavia (SFRJ). With the Royal family in exile and a post war atmosphere in Europe, Tito became famous, an ideal partner for this experiment.
Many will wonder why Yugoslavia? The answer is very simple; besides the Union of Soviet Socialist Republics (USSR), which was too powerful, to play with, she was the only post war country in Europe with multiethnic and multicultural population, and Member Republics.
In 1945, from the remains of the Kingdom of Yugoslavia; the Democratic Federal Republic of Yugoslavia was proclaimed, headed by Tito. Tito becomes Prime Minister and Minister of Foreign Affairs.The experiment begins; one State with six republics, one army, one currency, one federal police, one federal Government and Law, one passport, no borders and a visa regime among republics, and most of all: every Republic had their own Government with all vital institutions. Still, one very important thing for this experiment was the fact that Yugoslavia had different cultures and religions among State members, such as: Orthodox, Catholic and Muslim. The way the population is going to live in these circumstances was essential for the future of the EU.In 1948, Tito makes one interesting move, highly motivated; he becomes the first socialist to defy Stalin's leadership in COMINFORM also known as Information Bureau (Inform biro). This move by Tito gains him good positions with all Western powers, of course his old friends, but bad relations with the USSR. For good results and loyalty to the West, In London in 1954, Yugoslavia gets zone B from Free Territories of Trieste by treaty based on the Memorandum of Understanding.On the other side, with the first results of the experiment, formation of the future European Union begins with European Coal and Steel Community (ECSC) in 1952. Let us not forget that coal and steel were, and still are, very important in war and industry. A very important founding member of this Community was West Germany. A few years later, the Treaties of Rome in 1957 created two more communities created: the European Economic Community (EEC) and European Atomic Energy Community (EAEC or EURATOM). The EEC and EAEC later merge into EEC in 1967.
Strangely, but as previously arranged, Tito is chosen for SFRJ to be free Eastern European country, independent from the USSR, and neither member of Warsaw pact nor NATO, but in 1961, Tito puts Yugoslavia to be a founding member of the Non-Aligned Movement (NAM). Membership in NAM did not affect the experiment since Yugoslavia was the only European country in the Movement at that time, but it did affect future of Yugoslavia.Time is running, and in the mid eighties, Tito dies, but the experiment continues. The West needs a few more years before final announcement of new European Union. Europe is rapidly altering, many countries have joined EEC.At the beginning of nineties, Europe is about to change forever. In Yugoslavia a new government is forming headed by Slobodan Milosevic, the experiment is about to end, mission is about to be accomplished. World rulers are entering the final phase before the formation of the EU. With the USA battling Gulf War in Middle East, in Europe, history has been written; Germany's reunification takes place in 1990, followed by; dissolution of the Union of Soviet Socialist Republics in 1991, dissolution of Socialist Federal Republic of Yugoslavia in 1992, dissolution of Czechoslovakia in 1992, and wide spread fall of communist monopoly.
As planned, the new Europe comes into being in the year 1993, and with no threats on the way, a new star was born, European Union. Just a few months after termination of the USSR in which America had a big influence, the USA got a new rival; the EU. This rival will become more influential and powerful than any other country or Union in the world, more powerful than the old USSR.Two questions arise from this: First, did world rulers decide to put European Union instead of the USA as a leader of a free world and first super power? Second, who are those rulers and where were they coming from? Answer for the first question is yes, they did, and as always, the USA was used. Second: We will never know who they are, but they are definitely coming from Germany, they are not Jews as many think, if they were Jews then they would have had their own State long time ago.If we turn back and look through European history, Germany was not defeated as many thought, they played very smart; waited and planned to return stronger than ever and they did through the EU, as leader and strongest Member State. Germany was, and still is the Union's biggest net contributor; with the biggest economy, she is responsible for about 23% of the EU budget. Same is with Japan and the USA; it looks like Japan was also not defeated in the USA-Japan war. Now, Japan is the strongest independent economic and industrial power on the earth, most Japanese products is represented in the USA. In contemporary days, power is not measured through weapons, rather through strongest industry.
Will the EU have an equal rival in the future?
It will; a true rival for the EU will be a future Union with lots of money and same religion among member States as an advantage (maybe, Union of Islamic countries?).However, maybe we are being deceived with the EU; perhaps the EU is just another world experiment before the launch of another giant global Union.
Ivan Simic writes from Belgrade, Serbia
email@example.com - 2007, NewsBlaze, Daily News
HOARDING OF GOLD AND SILVER
DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
NEW WORLD DISORDER
Are Iran, Russia, China behind dollar's free-fall?
Some see Currency Cold War meant to bring U.S. to its knees
October 2, 2007 - 1:00 a.m. Eastern - 2007 WorldNetDaily.com
WASHINGTON – The hottest selling book in China right now is called Currency Wars, which makes the case that the U.S. Federal Reserve is a puppet of the Rothschilds banking dynasty and it has persuaded some top officials Beijing should resist America's demands to appreciate its own undervalued currency, the yuan. This might not be news of concern to most Americans if the U.S. dollar were not in precipitous free-fall, having reached record laws against the euro yesterday. What would it mean if China ever threw its economic weight around by dumping dollars in a major way?
Suffice it to say it is referred to in some quarters as China's financial nuclear option, because it would be the economic equivalent of detonating a thermonuclear weapon in the world's financial markets. But the American dollar's fate is hardly in the hands of the Chinese alone. Other foreign parties suspected of participating in a new Currency Cold War are Iran, Russia and Venezuela. Diane Francis, a financial reporter for the National Post in Canada, says it plainly and boldly: There is a Currency Cold War being waged by Russia, Iran and various allies such as Venezuela.The grand strategy being engineered by Vladimir Putin, she writes, is to force the use of euros as the international monetary standard as a transition to the Russian ruble. This is simply a monetary version of the old Cold War, minus the missiles, she writes.
Experts don't see any short-term reprieve for the falling value of the dollar. Kathy Lien, chief currency strategist with DailyFX.com in the US, told Bloomberg she expects the American dollar to slide even further, forcing more lending rates cuts in the U.S. to stave off recession. It seems like every single passing day we have a new record low in the dollar, and a new record high in the euro, and it's driven by the fact that U.S. data is continuing to deteriorate, she said. If other nations do not follow the U.S. in cutting rates, the slide in the value of the dollar would most likely continue. If the dollar trend continues spiraling downward, the risk is that nations like China – or Japan or Saudi Arabia – which have been buying U.S. Treasury bonds and thereby funding America's deficit, would stop that practice.
That would be the nuclear option.
China, with $1.3 trillion in foreign exchange reserves as a result of the massive and growing $260 billion U.S. trade deficit, has taken huge losses with the falling dollar, given that some 80 percent of China's $1.3 trillion in foreign reserves is held in U.S. dollar assets, largely in U.S. treasury securities. Meanwhile, Song Hongbing, the author of China's runaway bestseller, The Currency Wars, says he's pleasantly surprised at the 200,000 copies his book has sold. He is probably not eager to see the dollar punished as he lives in Washington, D.C. I never imagined it could be so hot and that top leaders would be reading it, he says during a book tour in Shanghai. People in China are nervous about what's going on in financial markets, but they don't know how to handle the real dangers. This book gives them some ideas.Among the research findings that shocked him most was that the Fed is a privately owned and run bank. I just never imagined a central bank could be a private body.Some, meanwhile, are standing on the sidelines cheering the currency wars – seeing them as a way of reducing the power and influence of the imperialistic U.S.
Rohini Hensman, who describes himself as independent scholar, writer and activist based in India and Sri Lanka, says it's about time the U.S. got its comeuppance. As the bombs started falling on Iraq in 2003, I wrote and circulated an appeal entitled 'Boycott the Dollar to Stop the War!, arguing that although the military strength of the U.S. was enormous, its economy was in a mess; with a massive gross national debt, the only reason it could finance its foreign wars and occupations was because of the inflow of over a billion dollars a day from countries accumulating foreign exchange reserves in dollars because it was the world's sole reserve currency. The denomination of the oil trade in dollars made it additionally desirable. With the advent of the euro, however, there was the possibility of an alternative world currency; therefore individuals, institutions and countries opposed to the war on Iraq should refuse to accumulate dollars or use them outside the U.S., because these were activities that helped to finance U.S.-Israeli aggression against Palestinians, Iraqis and Afghanis. After the World Social Forum meeting in 2004, the Boycott Bush Campaign adopted the dollar boycott as part of its strategy.In early trading today, the dollar advanced slightly, prompting gold prices back from 28-year highs set yesterday. The dollar's value against a basket of six major currencies rose slightly to 77.950 from a lifetime low of 77.657 a day earlier. The dollar traded at $1.4223 per euro, stronger than a record low on Monday of $1.4283.
WND has reported the Federal Reserve is in a dilemma.
The stock market has demanded rate cuts, wanting to return to the free credit policies of the Federal Reserve that fueled the liquidity bubble that has boosted home prices and pumped the Dow Jones Industrial Average since 9/11. Yet, the Fed giving in to stock market demands and lowering rates threatens an international dollar sell-off that could lead to a dollar collapse. Former Fed Reserve Chairman Alan Greenspan also sparked controversy by suggesting in his recently published book, The Age of Turbulence, the euro is rivaling the dollar as the international foreign exchange reserve currency of choice. The Wall Street Journal recently quoted a rule of thumb advanced by Harvard University economist Kenneth Rogoff, a former chief economist for the International Monetary Fund. According to Rogoff’s back-of-the-envelope calculation, a 20 percent drop in the dollar's exchange value reduces Americans' income by 3 percent, adjusted by inflation.
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