"U.S. DOLLAR FALLS TO RECORD LOW"
John Whitley
the United States, Europe (and Great Britain; sorry - didn't mean to
accidentally include you with 'Europe' there), the Middle East, Asia,
and Australasia is going to wake up to the fact that a global
financial "Perfect Storm" is coming and that it's going to affect each
and every one of them.
And remember, if your country's currency is rising against the U.S.
Dollar, it's for the same reason that the 'TITANIC's stern went up
when its bow went under! Countries that export raw materials to
countries that supply the United States with finished goods are all in
the same boat. The question is, who will get to the lifeboats
first...? You can be sure that big Overseas investors are following
the reported lead of George Soros and Warren Buffett and getting out
of the U.S. dollar as fast as they can! For everyone else, increasing
unemployment and stagflation in the U.S. followed by increasing
unemployment and deflation everywhere else.
But that's only half the story. You need to get ready, and you need to
start now. If you'd been a subscriber to the 'New World Order
Intelligence Update' (see
http://www.nwointelligence.com/NEWMONTH.HTM), you'd have been warned
of this long ago! Now your best bet is probably to pick up a copy of
'HENLEYS FORMULAS' (http://www.survivalistskills.com/HENLEYS.HTM) and
'THE HOME AND FARM MANUAL [1884]', together with some practical books
on independent-living skills
(http://survivalistskills.com/MUSTHAVE.HTM), and to prepare yourself
for a much more self-reliant lifestyle. And, if your interests turn
that way, order the fascinating new video 'Megiddo: The March to
Armageddon - Biblical Prophecy and the New World Order'
(http://www.torontochristianbooks.com/MEGIDDO.HTM). You'll certainly
have some practical reading and sober viewing - and at least you'll be
prepared and ready when stagflation whips your job away and the
collapsing dollar sends prices soaring.
From the news story below:
"However, few expect a reprieve for the dollar with many arguing that
a combination of ultra-low U.S. interest rates and a strong global
recovery will make it even harder for the United States to attract
enough capital to offset its current account deficit.
"The current account deficit is a long term factor and the fundamental
drivers of dollar weakness remain strong," said Bilal Hafeez, foreign
exchange strategist at Deutsche Bank."
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Dollar Falls to Record Low Against Euro
By Christina Fincher
December 22, 2003
LONDON (Reuters) - The dollar fell to the latest in a series of record
lows against the euro on Monday as a heightened security alert in the
United States provided fodder for dollar bears in a seasonally-thin
market.
The U.S. government raised its terror alert on Sunday to ``orange,''
the second-highest level, saying there was a high risk in the holiday
period of an attack that could be even bigger than the events of
September 11, 2001.
The dollar fell more than half a percent to $1.2447 against the euro
in a skittish European session, notching up its fourteenth record low
in 17 trading sessions. The U.S. currency also came within a whisker
of last week's seven-year low against the Swiss franc.
``Momentum and positioning indicators are looking stretched but this
is not yet sufficient to turn the trend,'' said Steven Pearson, chief
currency strategist at Halifax Bank of Scotland.
``Terror fears are keeping the market jittery and European corporates
are keen to hedge dollar weakness going into next year.''
Analysts noted the euro had stopped just short of $1.2450, an area of
key chart resistance and the equivalent of the German mark's 1987 high
against the dollar.
DOLLAR WOES
The dollar also gave ground to the Japanese yen, gathering downward
momentum after breaking below chart support at 107.50 yen.
The greenback was down a third of a percent at 107.42 yen at 1040 GMT,
less than a yen away from three-year lows set earlier this month.
Economists expect U.S. gross domestic product data on Tuesday and
durable goods orders on Wednesday to reinforce the view that the
world's biggest economy is recovering fast.
However, few expect a reprieve for the dollar with many arguing that a
combination of ultra-low U.S. interest rates and a strong global
recovery will make it even harder for the United States to attract
enough capital to offset its current account deficit.
``The current account deficit is a long term factor and the
fundamental drivers of dollar weakness remain strong,'' said Bilal
Hafeez, foreign exchange strategist at Deutsche Bank.
The market showed little reaction to weekend confirmation by the
Japanese government that it would raise the borrowing limit for its
foreign exchange intervention account.
Japan's willingness to sell yen for dollars to maintain export
competitiveness means European currencies have borne a greater weight
of the dollar's decline.
The euro has risen more than 18 percent against the dollar since the
start of the year, compared with the yen's advance of less than 10
percent.
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This news item is posted under 'Fair Use' provisions
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