"Last week a friend of mine told me they called their bank
president in Vancouver, BC and he agreed with everything I
have been saying about the dollar. What amazed me the most
was her comment that he told her his bank is currently
making preparations for the crash of the American dollar!"
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Original source URL:
http://www.globalresearch.ca/index.php?context=viewArticle&code=WIL20070306&articleId=4997
The Condition of the Dollar
By Lindsey Williams
Global Research, March 6, 2007
Lindsey William Newsletter
There is so much to touch on regarding the dollar this month, I hardly know
where to start. Regardless of where I begin, the news is not good and affects
all of us.
First on our list is China. They have now announced that they are refusing to
accept American Corporations purchasing into their stock market any longer as
they did in the past. China also said that they are no longer going to be
purchasing our securities as they have in the past, including bonds and T-bills.
China's decisions and subsequent announcements at the beginning of the week has
sent a panic across the World's markets.
Additionally, OPEC met recently and they have also stated they will be
diversifying into other currencies instead of just the American dollar. They
will now begin accepting other currencies and limit the trade of oil via the
American dollar.
March 21st 2007 will be one of the most significant dates this month. Iran has
outlawed the American dollar and will put anyone in jail that uses it in their
country after that date. They have the ominous notoriety of being the first
nation in the world to do such a thing. The real issue in Iran is NOT nuclear,
but rather the decision to not use the American dollar for trade and the sale of
oil. On the heels of Iran's decision, North Korea has followed suit and also
outlawed the use of the American dollar in their country. Finally, Malaysia the
next day did the same thing.
Central banks around the world are increasingly diversifying their reserves,
including cutting holdings of American dollars, according to a survey sponsored
by Royal Bank of Scotland Group PLC, the U.K.'s second-largest bank. Italy,
Russia, Sweden and Switzerland have made "major adjustments" in foreign-exchange
holdings favoring the Euro and the British pound, according to the poll
conducted by Central Banking Publications Ltd. between September and December.
"Central banks are open to saying they've been diversifying to improve returns
and reduce exposure to any single currency," said Sean Callow, senior currency
strategist at Westpac Banking Corp. in Singapore. There's no doubt that when
they say 'diversification' they mean selling dollars.
Last week a friend of mine told me they called their bank president in
Vancouver, BC and he agreed with everything I have been saying about the dollar.
What amazed me the most was her comment that he told her his bank is currently
making preparations for the crash of the American dollar!
My dear friends, I urge you to structure yourself and get out of the liquid
dollar immediately. I suggest that you get out of stock markets and into
international hard assets such as real estate, gold and other assets. Structure
your family by setting up proper International Business Corporations and
Foundations that will preserve your finances.
Disclaimer: The views expressed in this article are the sole responsibility of
the author and do not necessarily reflect those of the Centre for Research on
Globalization.
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© Copyright Lindsey Williams, Lindsey William Newsletter, 2007
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