Dollar May Fall to Record Within Six Months, Goldman Sachs Says

[pisshead]

this is a walk in the park...fiat currencies, pieces of paper, eventually hyper inflate...that's when you know it's bad...and i hope we're still a good ways away from that...

Dollar May Fall to Record Within Six Months, Goldman Sachs Says Ye Xie
Bloomberg (http://www.bloomberg.com/apps/news?pid=20601080&sid=aGU1K0tcAeQI)
Friday, August 24, 2007
Aug. 24 (Bloomberg) -- The dollar may decline to a record low against the euro in the next six months because U.S. economic growth will slow, forcing the Federal Reserve to cut interest rates, according to Goldman Sachs Group Inc.
From the current level of $1.3568 per euro, the U.S. currency will weaken to $1.43 per euro in the next three to six months, Goldman Sachs said in a research note yesterday. New York-based Goldman, the world's biggest securities firm by market value, lowered its dollar forecast from a prior estimate of $1.35. The dollar set a record low of $1.3852 per euro on July 24.
Concern about losses in investments related to mortgage securities has bolstered expectations the Fed will cut its benchmark interest rate from 5.25 percent at its Sept. 18 policy meeting. Traders are certain the Fed will cut its key rate to at least 5 percent by Sept. 18, futures show.

http://cdn3.tribalfusion.com/media/934256.gif (http://a.tribalfusion.com/h.click/awmM7i2FqxmtZar0aXM2HbFQsvA46BJmdaOUWf60bba1FQfXaE rSUQFUFQSVdM5mbjpRUbrXErt4a3e5q7PnaMH1rB9TtMRoAvZd psYwoWnG5Enf2dmn5AjFmFbZbYVvXXVnT0GvvnqfQ5F3TTrFCW P7luE38uX/http://bestfreerewards.com/dest?id=663&pid=1844165999&cid=9547&lid=3001103) ``Financial conditions are tightening at a time when clearly there's some downside risk to the growth,'' said Jens Nordvig, a senior currency strategist at Goldman Sachs in New York. Fed rate cuts ``will drag the dollar lower.''
The Fed will lower its benchmark interest rate by 0.75 percentage point to 4.5 percent by year-end, according to Goldman Sachs.
The dollar will fall also because foreign investors will reduce purchases of higher-yielding corporate bonds, said Nordvig.
Goldman also said the dollar will decline to 110 yen in the next three to six months, from 116 yen at present, compared with a previous forecast of 118 yen.

[pisshead]

Dollar Fall Is Catalyst For Predatory Global Government
Americans remain ignorant to 35% devaluation of their bank savings as skids are greased for introduction of Amero, North American Union
Paul Joseph Watson & Alex Jones
Prison Planet (http://www.prisonplanet.com/index.html)
Friday, December 1, 2006
As the dollar goes into free fall and the housing market accelerates in sales yet plunges in price, the quickening of an agenda of economic catastrophe allied to the "solution" of predatory globalism and the creation of a North American Union is afoot, and it spells potential disaster for the livelihood of all Americans.
Home prices have dropped 24% in the last year and most of that fall has happened in the last six months. The dollar has devalued around 35% against its level six years ago and is being trounced by the Euro and Sterling.
A false impression of a rosy economy is being spun with the rise of the stock market. Former fed chief Alan Greenspan's doubling of the money supply and Bernanke's promise that the money supply will be doubled again (http://agonist.org/bernanke_opens_the_floodgates_of_money) leads to only one outcome. Common sense tells us that a dollar sink is inevitable and if the housing market isn't the place to put all these devalued dollars then that excess will chase the stock market. Taking into consideration the devalued dollar, the stock market is really at about 6,000 - not 12,000.
All the real indices of financial health tell us that the economy is in the toilet.
Treasury Secretary Snow and others have publicly stated their desire for a weak dollar, sending the foreign lenders who have been propping up the greenback, particularly Japan and China, heading for the hills and dumping the dollar.
The catalyst for this was comments made in November 2004 by Snow, when he told a seminar in London that, "The history of efforts to impose nonmarket valuations on currencies is at best unrewarding and checkered." The Japan Times (http://dissolvingsolids.blogspot.com/2004/11/bush-administration-and-weak-dollar.html) reported that on the back of this statement, Tokyo traders began dumping the greenback and have continued ever since, leading to a situation today where the dollar recently fell to its lowest value in the world market in 15 years.

The excuse that a weak dollar should be privately encouraged to reduce trade and fiscal deficits is continually debunked by the fact that deficits with Japan and China reached all time highs - more than $200 billion with China in 2005 (http://edition.cnn.com/2005/WORLD/asiapcf/11/15/china.us.trade/index.html) exactly a year after Snow's comments and continue to rise further (http://www.census.gov/foreign-trade/balance/c5700.html) this year.

Chieftains of industry and government like Dick Cheney, Bill Gates and Warren Buffet (http://216.239.59.104/search?q=cache:KJJibyya09AJ:www.worldaffairsboard. com/showthread.php?p=67775%2B%22American%2Bbillionaire s%2Bsell%2Btheir%2Bdollars%22&hl=en&ct=clnk&cd=5) are trying to creep towards the door in their sell-off of the dollar because they hold so much greenback and wish to quietly cash out. That process is now accelerating and it now appears a mad scramble for the door is about to ensue, to the cost of hundreds of millions of American citizens who remain completely ignorant to the fact that their bank account savings have lost 35% of their value just sitting there since 2001.
Talking heads and controlled media continue to assure Americans that the economy is booming and there's little to worry about. No doubt the dollar will rebound a little in a few weeks and they'll show a short-term graph of its steady climb over the past month, failing to display comparison charts going back six years which show the greenback heading straight down.
Establishment mouthpieces tell viewers to go back to sleep while former World Bank chief economist and nobel prize winner Joseph Stiglitz predicts a global crash (http://www.prisonplanet.com/articles/october2006/301006globalcrash.htm) - caused by the very predatory globalist policies of the IMF and World Bank that are still presented to us as the solution for economic turmoil.
A global crash and a totally devalued dollar that can barely rival the peso spells disaster for all Americans who wish to maintain their standard of living and not find themselves barefoot on the street in a bread queue.
But fear not, because the very predatory globalism that caused all this calamity in the first place has yet another answer to our prayers! It's the Amero, the North American currency that will unify the States, Mexico and Canada and its latest cheerleader (http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=53124) is influential London investment firm VP Steve Previs.
The Amero would offer a nice umbrella under which to force through the Free Trade Area of the Americas and a North American Union, an eternal dream of the Rockefeller elite clique (http://prisonplanet.com/articles/november2006/301106_b_Cheney.htm) that is seeking to erect a one world government system by first aping the European Union in creating a single currency and trading bloc, again to the devastation of middle class America but to the delight of transnational corporations who can exploit cheap labor while putting millions of Americans out of a job.
The fed and the plunge protection team are not going to rescue the situation. Gold and silver continue to remain stable and steadily growing assets and we encourage all our readers to build a sizable portfolio in order to offset the coming meltdown that the cavalier and dangerous financial policies of the U.S. government, along with the ceaseless march towards global government, will inevitably engender.