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It is a fair bet we are at or very near a bottom now in US equities. Buying time is here, it is when everyone is at there most pessimistic it is time to buy. I don't know how long the rally will last but it may be coming very soon.

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It is a fair bet we are at or very near a bottom now in US equities. Buying time is here, it is when everyone is at there most pessimistic it is time to buy. I don't know how long the rally will last but it may be coming very soon.

 

 

There's more to come :)

 

Buying time is here when the big boys buy.

 

Otherwise, it's sit on your hands time.

 

And there's a long and (un)winding road to go yet.

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"Buying time is here when the big boys buy."

 

Ever hear of a guy named Warren Buffett?

 

Warren never bought derivitives, said he did not understand them!! Seems nobobdy understood them. It is interesting that the Wall streeters were able to sell so many junk financials to forigen investors, they really raped them good!!

 

Warren has been buying with his own personal money. I am mostly liquid and am thinking of testing the waters again. What makes me gunshy is the amount of questionable financing which is even afffecting good solid companys.

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read what these guys have to say

 

www.moneyandmarkets.com

 

the stuff there is free. they have pay per view stuff too biggrin.gif

 

i just buy it for interest as i'm not in the states and I have other priorities, but what they say is compelling and made lots of cash - eg inverse ETFs on the DOW and other US indices. We just can't do that in Oz. dry.gifohmy.gif

 

If you're interested, send me an email biggrin.gif

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

I only read it for kicks, but what they say has good evidence and they don't shy away from their self-audit. I don't mind sharing. I'm just not involved other than as a spectator,

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smokey

i have not bought a single share of stock for over 15 years now and most likley will die not owning any stock and so far it has not affected my life in any way...

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Finally, the Chinese are telling publicly what's on our minds. Kiss goodbye to the USD. Hopefully Obama is not hamstrung enough to act on the scenario unfolding in front of our eyes. The biggest asset the US still holds I believe is its people. Specifically, a massive technological edge borne of great innovation. If it does not move decisively to protect this asset, we may see a frightening exodus of the brightest from the country. A massive brain drain. That could be catastrophic to the medium to long term interests of the US. Apart from holding over 75% of its currency reserves in gold, that is.

 

BEIJING, Oct 24 (Reuters) - The United States has plundered global wealth by exploiting the dollar's dominance, and the world urgently needs other currencies to take its place, a leading Chinese state newspaper said on Friday.

 

 

The front-page commentary in the overseas edition of the People's Daily said that Asian and European countries should banish the U.S. dollar from their direct trade relations for a start, relying only on their own currencies.

 

 

A meeting between Asian and European leaders, starting on Friday in Beijing, presented the perfect opportunity to begin building a new international financial order, the newspaper said.

 

 

The People's Daily is the official newspaper of China's ruling Communist Party. The Chinese-language overseas edition is a small circulation offshoot of the main paper.

 

Its pronouncements do not necessarily directly voice leadership views. But the commentary, as well as recent comments, amount to a growing chorus of Chinese disdain for Washington's economic policies and global financial dominance in the wake of the credit crisis.

 

 

"The grim reality has led people, amidst the panic, to realise that the United States has used the U.S. dollar's hegemony to plunder the world's wealth," said the commentator, Shi Jianxun, a professor at Shanghai's Tongji University.

 

 

Shi, who has before been strident in his criticism of the U.S., said other countries had lost vast amounts of wealth because of the financial crisis, while Washington's sole concern had been protecting its own interests.

 

 

"The U.S. dollar is losing people's confidence. The world, acting democratically and lawfully through a global financial organisation, urgently needs to change the international monetary system based on U.S. global economic leadership and U.S. dollar dominance," he wrote.

 

 

Shi suggested that all trade between Europe and Asia should be settled in euros, pounds, yen and yuan, though he did not explain how the Chinese currency could play such a role since it is not convertible on the capital account.

Edited by breakfast
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smokey

Just maybe the chinese should look at their own bull shi? lead paint on toys ... the food tainted anything to make a buck and when you buy from them you dont even get a wrap around in the morning..

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rofl

 

they can't touch the US and Japan on quality goods. :D

 

...but the Arabs are said to be working on an Arab equivalent of the Euro, some kind of Dinar (term from roman times - the Dinarius), which will define the oil trade, as according to that view they want to change the currency oil is denominated in from USD to something else, more under their control, given USD is looking shaky.

 

Come on USA, come up with a solution dudes!

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For a long time, the US$ has been THE reserve currency, but many feel that the US used /abused that position for its own benefit.

Hence there have been a number of suggestions about alternatives, the major one so far being the Euro.

 

I am sure that much of the world, being disenchanted with the US$, doesnt want to make the same "mistake" with total reliance on the Euro, so will find alternatives.

 

In the end, I suspect that there will be several different currencies that are (fairly) stable and (fairly) widely used, and these will all be used for international trade.

Naturally, one will be the US$, but it certainly wont be the only "reserve" currency.

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smokey
rofl

 

they can't touch the US and Japan on quality goods. :D

 

...but the Arabs are said to be working on an Arab equivalent of the Euro, some kind of Dinar (term from roman times - the Dinarius), which will define the oil trade, as according to that view they want to change the currency oil is denominated in from USD to something else, more under their control, given USD is looking shaky.

 

Come on USA, come up with a solution dudes!

 

 

 

 

I don

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rofl

 

they can't touch the US and Japan on quality goods. :D

 

The US does not manufacture much of anything these days. Sad to say!

Edited by Bob Ward
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twostrokes

Personally, I wish China would really keep yammering at the mouth and really try to make some waves....Then the

US could just say, ok, no more China Junk brought into the USA. Then see how many of those useless dollars they won't have anymore. The US fired up the China economy, we could cut it off just as quick. The less of that junk we are forced to buy , maybe I wouldn't have to buy the same thing over and over and over, because someone might just make some quality goods available.

 

I also agree the US should stop selling any of its oil outside the US.. I do't like gov't interference anymore than anyone else. But, if they want to do something in the Name of National Security, instead of looking through travelers laptops, they should refuse to allow any oil to be sold outside usa. Because it is a National Security Issue. But the oil companies run this country so no one will touch them.

 

Even all this noise about the wind energy....I see those giant windmills going by my house all day long on trucks. I take a drive into west texas and what do I see?? All the windmills being set up on the same ground the oil leases are under. Who controls them?? the Oil companies.....They will never release any of the power they have over our lives.

Jim

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Hi Robert,

 

I can't speak for the rural banks themselves, as I am more into high risk. I have a bit invested there, but not nearly as much as I do in their "uninsured" programs.

 

Paul

hi paul thats what i invest in uninsured programs did you get text saying the cheques from legacy concerning eastwest bank and union bank cheques would be replaced with other cheques gaz

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