-- Posted Wednesday, 25 November 2009 | | Source: GoldSeek.com
By R. D. Bradshaw
For the last several months, information from the Rothschild Cabal insiders, that I follow, suggested that the Cabal has been having some problems manipulating the value of both the US dollar and gold. In bringing this matter up, I am not implying at all that the Cabal has lost control of these markets. As far as I am concerned, the Cabal is still running things.
All I am saying is that the Cabal is finding it harder and harder to push things in a desired direction without an extraordinary effort which it has not chosen to employ in the last several months. Gold and the dollar are two perfect illustrations of the dilemma the Cabal has faced. I am convinced that to really move gold and the dollar, as the Cabal would like to do so, would make the Cabal have to impose much harder measures than what it has been using.
After the dollar dipped below 80 on the index, earlier this year, I learned on several different occasions, from good sources, that the Cabal would soon boost it back to 81. Well, the weeks passed and it never happened. Instead, the dollar has continued to fall (although the Cabal seems to be holding it at around 75 at this present time) and gold has continued to rise.
This Goldsmiths will broach the question of the dollar and point out some news which gold advocates may have missed. By the way, I am happy to see these present market motions now in progress because back on Feb 1, 2009 my news analysis for Dec 31, 2009 was for gold at 1200 to 1500 (1300 was my best guess), depending on how the dollar goes, and the dollar at 60. We may be close to those numbers soon.
The So-Called Recovery
As some analysts have probably picked upon, one of the contributing factors affecting the dollar has been the so-called recovery instituted last spring by the Cabal. While there has not been any actual, true recovery, the Cabal and its agents in Washington and New York have had a steady flow of deceptive media information that there is a recovery underway.
Of course, people with brains above the idiot level are acutely aware of the real world—credit continues to contract and foreclosures continue up while employment, real estate values and consumer spending go down. All of this spells depression/recession--even though overall inflation continues in the economy. Thus, we are in an inflationary depression.
Back in the spring, I addressed the so-called recovery in the Goldsmiths 81. At that time, I reported the obvious backdrop for the alleged improvement then supposedly underway. I suggested two reasons why it appeared to me that the Cabal was working so hard to convince the public that there was recovery; when Cabal plans were for the trouble to continue (as I describe in Understanding Money and War XIV, at www.analysis-news.com, the Cabal periodically causes depressions to enhance its profits and accelerate the move to world government).
Here are the two items I noted back then: (1) the personal security of the Cabal players and (2) their future ability to be able to continuously rip-off the taxpaying public. As I have so often stated, the Cabal bosses have to be careful and walk a tight rope for fear that they run a risk of creating a revolution or anarchy in the streets which could bring about a collapse of their system of stealing from and taking advantage of the gullible voters. They could even cause the dumb sheep to get mad and take their wrath out on the Cabal players.
This real world situation has meant that the Cabal masters have to keep quick flying jet planes on stand-by, ready on a moment’s notice to whisk them out of the US to a certain foreign country which will give them dual citizenship and assurances that they will not be extradited to the US to face criminal charges.
The Big Need Back in the Spring
The Goldsmiths 81 quoted the London Financial Times of May 7, 2009 with a story by Chrystia Freeland on “What a feeling: how emotions may yet save the economy.” Freeland’s article was built on the book Animal Spirits, by Nobel prize-winner George Akerlof and Yale economist Robert Shiller with their thinking that the public’s ideas, thinking and feelings about the economy “are not purely a rational reaction to data and experience.” They are a driver or pusher of economic progress and are thus mental in nature to influence fear and confidence in people.
This article from London noted that the Obama administration had become concerned that the attitude of the American people was negative and especially after the $700 billion Tarp program and $800 billion stimulus effort. So, the plan was that the Cabal bosses and puppets in Washington and New York would mount an effort to “brighten those ‘ideas and feelings’ (by) reassuring the nation with ‘glimmers of hope across the economy’ and the assertion that ‘we’re starting to see progress’”.
As the story goes, Obama told the Financial Times that following the passage of the Obama stimulus bill, the White House calculated that US lawmakers and voters had reached their limits. Freeland’s article said: “No new money to rev up the economy or revive the banks would be forthcoming until the president and his team could demonstrate concrete results from the first installment.” Thus, it was clear that the Cabal could not con, squeeze, screw and/or cheat the American public out of any more money unless and until something was done to change the attitude and thinking of the American people.
And that’s the backdrop on the Cabal spin that recovery had started. Yet, in the meantime, all of the conditions of recession/depression were only continuing and indeed accelerating despite all of the lies and spin coming from the Cabal agents and media. The essence here is that after some nine months of spin nothing has improved (despite all of the contrary lies). Moreover, there is another facet of this issue which may not have materialized until the last several weeks (or it may have been just one more reason behind the recovery talk last spring and I didn’t grasp it till recently).
The China Card
To appreciate this other reason, it is necessary to go back once more to some prior Goldsmiths. Here I refer to the Goldsmiths 76, 93, 95, 96, 97, etc which addressed the China problem that the Cabal faced.
This problem was actually revealed in a Bloomberg report of Feb 11, 2009 by Belinda Cao and Judy Chen on “China Needs U.S. Guarantees for Treasuries, Yu Says.” Per this story, Cao and Chen cited the thinking of Yu Yongding, a former advisor to the Chinese Central Bank and then head of the World Economics and Politics Institute at the Chinese Academy of Social Sciences. Yu issued a call in February for China to have guarantees from the US that China’s holdings of $682 billion of US debt would not be eroded by “reckless policies.”
Per this Cao and Chen report, China would voice its concerns to US Secretary of State Hillary Clinton when she visited China on Feb 20, 2009--according to He Zhicheng, an economist at the Agricultural Bank of China. He Zhicheng, in Beijing, added that “In talks with Clinton, China will ask for a guarantee that the U.S. will support the dollar’s exchange rate and make sure China’s dollar-denominated assets are safe. That would be one of the prerequisites for more purchases.”
While no official statements were ever forthcoming on what Obama promised the Chinese, we can be sure that some type of payoff or bribe was promised (at a minimum, new missile technology). But whatever the Chinese got from Clinton in Feb, it was not enough; so Chinese apprehension continued. By June, Cabal agent and relative Geithner was dispatched to Beijing to further calm the Chinese. At Beijing University, he was laughed off the stage. Soon, Beijing put together a task force to go to Washington and make some demands that more assurances be given the Chinese over the status of the US dollar.
Yet, from all this Chinese pressure to get something definite from the US on the dollar, nothing was ever revealed in concrete. To this day, all we can do is speculate that the Chinese did get something in the way of payoffs and bribes. Having just cited the continuing Cabal efforts to spin, twist, deceive and defraud the Chinese (in the many meetings since last Feb), this brings up the matter of the spin of the Cabal that the US recession/depression is all over and that recovery has now returned to the US.
While there is no doubt that there is and has been enormous Cabal concern over its ability to continue to steal America, and to fleece and pacify the dumb sheep, lest they get riled up and want to take their wrath out on the Cabal masters, the so-called recovery by now has a very clear third major objective. Simply stated, the plan is that all of the hype, lies and deceits about recovery is also necessary to pacify, mislead and cheat the Chinese and other foreign investors some more--along with the gullible American taxpayers.
The idea is simple. If the Cabal can induce the dumb Americans that a recovery is underway, why not simultaneously induce or seduce the Chinese that a recovery is underway. If the Chinese can be made to believe that the US is in a recovery mode, and the US will soon start buying Chinese goods to reignite the former boom in Chinese sales to the US, the Chinese can very easily be seduced to keep holding US dollars and US bonds/paper. Just like many Americans and Europeans have been suckers to believe the lies of the Cabal, why not the Chinese?
I am convinced now that the Rothschild media propaganda about recovery has a goal to not only convince Americans but Chinese and foreigners as well. The Cabal and its agents have been pushing hard for the last several weeks in hopes that the current Rothschild media blitz about recovery will be sufficient to bring not only the American suckers back on board for another hit, but also bring the Chinese and other foreigners back on board to resume the so-called good old days so they too can be hit again.
Thus, the Rothschild media is on a binge right now to really pump up everybody with good news about the US economy (although the real world news is all bad, as I point out above). We continue to hear lies about little or no inflation and even spin about sales of consumer goods improving (this is the stuff which really whets the appetite of the Chinese). For example, on Nov 16th, the US Census Bureau announced its estimates for US retail sales for October with an increase of 1.4 percent from the prior month.
Yet, despite all of this Cabal hype and pap about recovery, and the return of the good old days, things continue badly, as noted above. And, in terms of strengthening the dollar with stories about recovery, the dollar continues to fall (although not as rapidly as earlier). Not only does the dollar continue to fall, but the Rothschild controlled central banks are all also working hard overtime, figuratively speaking, to try to save the dollar.
Starting in the spring of 2008, the Cabal ordered its controlled central banks around the world to buy dollars. They did so to push the dollar from 71 to almost 90. But the loading up of dollars, by the world’s central banks, has not been a long term solution. True, it made a barrel of money for the money changers as they took full advantage of the money manipulations and the crash of stocks and commodities. They reaped some big profits. But those days were short lived because the dollar soon started back down in early 2009. It continues to go down today. And now, there is a possibility of some really bad days ahead.
The Carry Trade
The Nov 13, 2009 Bloomberg had a story by Oliver Biggadike and Matthew Brown on “Dollar Overwhelms Central Banks From Brazil to Korea.” The problem here is simple. Many foreign central banks want to depreciate their own currencies in order to facilitate the sale of goods to the US. Thus, foreign governments have been gaining huge foreign-exchange reserves as they direct their central banks to buy dollars in an attempt to stem the greenback’s slide and keep their currencies from appreciating too fast and making their exports too expensive.
By a strange coincidence, this really works well for the US since the foreigners are so anxious to destroy their own currencies if it will help sales of their goods to the US. But the problem now is that these same foreign central banks are flooded with dollars and so much so that they can’t stem the tide. Though this Bloomberg article did not disclose all the reasons for the flood of dollars, it is not hard to see why this is happening.
The Bloomberg article says that the reason the foreign central banks are losing their battle with the dollar is because the slumping dollar is more than they can handle. At least, that’s what Bloomberg alleges. The story focused on South Korea which added some $63 billion in dollars to its reserves (evidently starting in 2008 when the push went on for central banks to buy dollars and thus increase the value of the dollar). In the case of South Korea, she has recently announced that she will leave the level of her currency to market forces (apparently, in difference to manipulations, as done heretofore).
The article quoted Collin Crownover, head of currency management in London at State Street Global Advisors, which has $1.7 trillion under management. Crownover said: “It looked for a while like the Bank of Korea was trying to defend 1,200 (the won versus the dollar), but it looks like they’ve given up and are just trying to slow the advance.” With central bank manipulations, the dollar gained 44% against the won to March 2009. But since then, market forces are returning to drive the dollar down.
Per the article, “Brazil’s real is up 1.1 percent against the dollar this month, even after imposing a tax in October on foreign stock and bond investments and increasing foreign reserves by $9.5 billion in October in an effort to curb the currency’s appreciation. The real has risen 33 percent this year.”
While not really covering all of the reasons for the dollar’s decline and the increase in value of foreign currencies, the story did note the carry over trade problem by saying that many investors borrow funds in the U.S., where the target benchmark interest rate is between zero and 0.25 percent, and then invest the proceeds in countries with higher rates and faster growing economies.
The carry trade issue has meant that $47 billion flowed into equities in India, Indonesia, the Philippines, South Korea, Taiwan and Thailand in the last three quarters, eclipsing the previous full-year high of $33 billion in 2005. Chris Low, chief economist at FTN Financial in New York, wrote: “The dollar is weakening because the U.S. has the lowest short-term interest rates in the world (which) will be the sell side of the carry trade as long as that remains true.”
Rothschild agent and relative Robert Zoellick, president of the World Bank, was quoted as saying: “The recent fall of the dollar is a response to the currency’s earlier rise and to market dynamics, giving the U.S. few near-term options for changing its course.” He added that “The value of the dollar depends on confidence in dollar- denominated assets and also to the movements of other currencies.” Hence, per Zoellick, the US can’t change the course of the dollar at present.
Then, the latest on the dollar came from Rothschild agent and relative Ben Bernanke on Nov 17th when he said that the US central bank was monitoring currency markets closely and would conduct policy in a way that will “help ensure that the dollar is strong”—per a report by Krishna Guha in the London Financial Times on Bernanke Reassures Markets on Dollar. Bernanke’s remarks came in tangent with his words about the recovery allegedly going on in the US, despite problems with unemployment and credit (obviously, the credit problem is credit contraction by the banks, as described in Understanding Money and War XIV at www.analysis-news.com).
The Bottom Line
Several conclusions are detectable from the above comments. While the dollar carry over trade gets credit for much of the fall in the value of the dollar, there could be more to it than just that. My position has long been that people above the idiot level would never want to accept, save and retain dollars in preference to gold and hard currencies. I have read numerous reports of people on the streets around the world refusing to accept dollars because they simply don’t want them. Frankly, I don’t blame them.
There is an old axiom on money worth recalling here. It is that bad money drives good money out of circulation. That’s why gold, silver, the Euro and the Yuan all have such good futures. Anyway, the fact that the carry trade is blamed does allow that one day, very quickly, the Fed may start interest rates back up. If this happens, it will certainly stifle any hopes of any so-called recovery.
There is no doubt about it, maintaining the value of the dollar is high on the Cabal’s agenda. Right now, the dollar is declining and should continue to do so (although the Cabal seems to be trying to stabilize it at near 75). If and when the attack on Iran commences, the dollar may really fall if the Iranians can mount a successful counterattack.
With the possibilities of a disaster, when the attack on Iran unfolds, and with Cabal pressures to keep interest rates low (low interest rates benefit Cabal banks enormously so the Cabal wants low interest rates for the time being while the banks are trying to improve their balance sheets from the toxic debts they carry), the Cabal is in a rush to find something to encourage the Chinese and other foreigners to keep buying US paper. So, along with deceiving and screwing the American people, the Cabal hopes to use its controlled media to paint more pictures of the supposed recovery to further rip off foreigners, along with Americans.
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-- Posted Wednesday, 25 November 2009 | Digg This Article
| Source: GoldSeek.com
