US dollar – Infinite Unknown

Jim Rogers: China’s Economic Advance is All But Unstoppable

December 23, 2008April 15, 2008 by Infinite

“The only thing that worries me permanently about the China story is water.

I’ve been around the world twice. I’ve seen many cities, societies, [and] nations that disappeared because the water disappeared. China has a huge water problem. In Northern China, they’re running out of water. They know this and they’re working on it, big time. But if they don’t solve it, or if they don’t solve it in time, then China – as you put it – has failed.

By the way, Northern India has the same problem, only worse. Many places have it now. Water is becoming a huge problem worldwide. The same is true in the Southwestern United States. You know, you may have Arizona going to war with California. Some sections of Nevada, Colorado …they’re desperate there.

So it’s not just China – but water’s the main thing that worries me about China.”

(As I said: In ten years the glaciers in the Himalaya region will be gone and 50% of the worlds population will have not enough or no water at all. The governments know this and they won’t sit & wait and do nothing about it. There will be World Water Wars.
And if China where to lose a million soldiers in a war so what. To them their soldiers have the same worth than to the US their soldiers in Iraq: They are considered as canon fodder.
If you think that this is wrong than I recommend the movie “NO End In Sight” (2007) as a first eye-opener.
Please read the whole article. – The Infinite Unknown)

Venezuela’s state-run oil company begins demanding payment in euros as US dollar weakens

March 20, 2008 by Infinite

CARACAS, Venezuela: Venezuela’s state-run oil firm is starting to demand payment in euros a measure aimed at protecting revenues from a weakening U.S. dollar, Venezuela’s oil minister said Tuesday.

Dobbs: Our leaders have squandered our wealth

December 7, 2008March 18, 2008 by Infinite

NEW YORK (CNN) — President Bush’s assurances that we’ll all be “just fine” if he and Congress can work out an economic stimulus package seem a little hollow this morning.Much like Federal Reserve Board Chairman Ben Bernanke’s assurances last May that the subprime mortgage meltdown would be contained and not affect the broader economy. And it seems Treasury Secretary Henry Paulson has spent most of the past year trying to influence Chinese economic policy rather than setting the direction of U.S. economic policy.

There is no question that Bush, House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid will quickly come up with an economic stimulus package simply because they can no longer ignore our economic and financial crisis. That economic stimulus plan will amount to about 1 percent of our nation’s gross domestic product, an estimated $150 billion.

But all of us should recognize that the stimulus package will be inadequate to drive sustainable growth in our $13 trillion economy. An emergency Fed rate cut and an economic stimulus plan are short-term responses to our complex economic problems, nothing more than bandages for a hemorrhaging economy.

Greenspan tells Gulf to drop dollar

March 21, 2008March 6, 2008 by Infinite

Alan Greenspan, the former chairman of the US central bank, or Fed, has said that inflation rates in Gulf states, which are reaching near record levels, would fall “significantly” if oil producers dropped their US dollar pegs.

Speaking at an investment conference on Monday in Jedda, Saudi Arabia, he said the pegs restrict the region’s ability to control inflation by forcing them to duplicate US monetary policy at a time when the Fed is cutting rates to ward off an economic downturn.

Debate is rife in the Gulf on how to tackle inflation.

Greenspan, right, says inflation rates in Gulf states will fall if they drop their US dollar pegs [AFP]