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pencilvanian
1000+ Penny Miser Member
2034 Posts |
 Posted - 08/28/2008 : 16:32:30
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US Dollar rescue plan that was planned for but wasn't offically implemented (the key word here is officially)
http://tinyurl.com/6dxetg
US, Europe, Japan planned March dollar rescue -Nikkei
Reuters, Wednesday August 27 2008
NEW YORK, Aug 27 (Reuters) - The United States, Europe and Japan had planned to intervene and rescue a weak U.S. dollar in March, business newspaper Nikkei reported on Wednesday.
Officials from the U.S. Treasury Department, Japan's Finance Ministry, and the European Central Bank reportedly drew up a currency contingency plan to be undertaken over the March 15-16 weekend, Nikkei reported, citing sources familiar with the situation.
The monetary officials also agreed on a framework for coordinating dollar-buying intervention, the report said.
The officials did not specify an exchange rate for initiating the dollar rescue plan, but in the event of a free-fall, they all agreed to aggressively buy the greenback and sell yen and euros, according to Nikkei.
Under the intervention framework, Japan was to supply the yen necessary for the underlying currency swaps. The plan also called for using a previously established swap mechanism between the United States and Europe.
No coordinated intervention took place, however,
************(sure it didn't )
as the dollar began recovering shortly after U.S. authorities brokered the buyout of Bear Stearns by JPMorgan Chase & Co.
As measured by the U.S. dollar index, the currency hit bottom on March 17, the first market day following the Bear Stearns deal announcement.
........A U.S. Treasury spokeswoman declined to comment on the report. The Federal Reserve also declined to comment.
A spokeswoman for the ECB said she had no immediate comment, but said the central bank would talk about the situation in the morning.
........Overall, analysts said that even though a rescue plan never took place,
************(I repeat, sure it didn't)
the fact that global monetary officials showed concern for a weak dollar was significant.
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Copper Catcher
Moderator
USA
594 Posts |
Posted - 08/28/2008 : 17:19:42
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A wise man once said that is doesn't matter which end of the ship has a hole in it unless some fixes it, the entire ship will sink. What do you think would happen to the world economy of America declared bankruptcy?
Also, what do you think would happen to the countries we annually give FIVE PLUS BILLION dollars worth of foreign aid too?
http://www.globalsecurity.org/military/library/report/crs/31987.pdf
After two year of study a report was released concerning how we currently deliver foreign aid to around 151 countries and how this system is not working the way it should, imagine that!
http://helpcommission.gov/portals/0/Beyond%20Assistance_HELP_Commission_Report.pdf
So who is rescuing who? Ponder this for a moment.
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redneck
Penny Collector Member
314 Posts |
 Posted - 08/29/2008 : 06:14:37
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US Dollar rescue plan;
The rescue plan is - Undermine the American Dream by Run the Printing Press Overtime,and by collusion with foriegn governments and money institutions.
The money changers will do what ever it takes to keep the status quo.
"Money" itself is a "illusion or delusion" at best,pick your choice,
we all need it to survive in todays world.
The dollar will be propped up till the NAU takes place and then will be replaced with the Amero.
(end of rant)
On the bright side....
I think I'm going to apply for some of that FIVE PLUS BILLION dollars worth of foreign aid.
They don't seem to care who they send it to so...
I'm declaring a new country, "The Land of Fa" and I'm the king.
So I'll be known as the Fa king.
And if they ask for the money back,they will be told the king says.
No Fa king way... 
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US $ Rescue plan, sort of
