September 20, 2007

Moved your assets out of US Dollar holdings yet? Better hurry. Saudis and China in dollar panic, watch the dominos now fall...


"It can't happen here" they said.

Wanna bet?

This is gonna get really real really quick. Get ready. Thank you Ben Bernanke. You just f*cked America.


Fears of dollar collapse as Saudis take fright

Saudi Arabia has refused to cut interest rates in lockstep with the US Federal Reserve for the first time, signalling that the oil-rich Gulf kingdom is preparing to break the dollar currency peg in a move that risks setting off a stampede out of the dollar across the Middle East.

China threatens 'nuclear option' of dollar sales


The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation.

73 comments:

Anonymous said...

Attention will now shift to Saudi Arabia after the world's largest oil exporter decided to hold rates firm, according to Al-Arabiya television.

In July, inflation was at its highest level since 2001 in Saudi Arabia. Earlier this year Kuwait and Qatar also reached record inflation numbers.

"It would be worth seriously considering abolishing the dollar peg," said Eckart Woertz, head of economics at the Dubai-based Gulf Research Center.

In May, Kuwait set a precedent by ending its currency's peg to the U.S. dollar in an attempt to stem rising inflation and protect the value of export earnings from the sale of oil against the effects of the plummeting greenback.

The dollar's decline has partly undermined the benefit of record oil prices in the region, which is expecting a budget surplus of more than US$500 billion this year, according to Saudi lender Samba Financial Group.

http://www.iht.com/articles/ap/
2007/09/19/africa/
ME-GEN-Gulf-Rate-Cut.php

Charles said...

Keep it real for me Keith...

My CD term is up in Nov and I've got $15,000. I can't manage stocks or anything else as I'm busy building my IT consulting clientele.

Is Everbank a solid option. Maybe %50Euros/%50Francs?

Wouldn't dream of making you liable by asking for investment advice ;) But and opinion would be welcome. Gonna be way to busy for the next 6 months to monitor a complex portfolio.

I don't think Greenspan was talking out his a$% this is just a desperate move to forestall a collapse till after the elections at which point the FED goes Volcker on our ass and hello double digit interest rates.

But I'd like your opinion on CONSERVATIVELY hedging bets until then.

Thanks Keith!

burnt fortune cookie said...

I love sweet and sour chicken!

You can have my eggroll. :(

Sheeple said...

How will the Fed fight flight from the dollar and treasuries????

My guess is high interest rates to attract cash and dissuade rampant inflation.

The exchange rate is already a bad swap for dollars, plus Greenspan likes Foreign diversification which scares me.

What happens next is anyone’s guess. Place your bets and end up rich or in the poor house.

Sheeple said...

I bet they save the dollar over Wall Street and the housing bubble.

Anonymous said...

I bet Saudis will fall in line with Kuwait and UAE and eventually cut rates. They cannot afford to displease the Superpower of the Universe.

k.w. - southern ca. said...

Jim Rodgers and Co. have long ago moved away from US currency - because they saw all this coming along time ago.

"[... Jim Rogers, the commodity king and former partner of George Soros, said the Federal Reserve was playing with fire by cutting rates so aggressively at a time when the dollar was already under pressure.

The risk is that flight from US bonds could push up the long-term yields that form the base price of credit for most mortgages, the driving the property market into even deeper crisis.

"If Ben Bernanke starts running those printing presses even faster than he's already doing, we are going to have a serious recession. The dollar's going to collapse, the bond market's going to collapse. There's going to be a lot of problems," he said. ...]"

Anonymous said...

Charles: look at the rate table. NZD bonds pay a lot better than Euro bonds.

Anonymous said...

yup..under the watchfull eye of bush

Anonymous said...

I now believe that the Elites just flipped off the middle class and in an act of "Moral Hazard"

sold out the dollar to cover their own bankster ass

Anonymous said...

No surprise just look what happened to the Yen after the Japan bubble burst

Charles said...

RE:Anon

BUT will NZD see the same appreciation against the dollar as the Euro???

Yes i know I sound like a whorish currency speculator but as we've established in the past 2 days "Don't fight the Fed!"

Anybody got a guess onb the fastest appreciating currency in relation to the dollar?

Anonymous said...

Better buy a tank of gas before I am priced out forever.

Anonymous said...

LOL.. don't make mne laugh .... ignorance is bliss isn't it ? China and others will not upset their biggest customer ...period! it's all smoke and mirrors guys .... blah blah blah....

Anonymous said...

Speculator still saying Uncle Benny is a jolly good fellow.

Carry Trades, Stocks Set To Rally

Wall Street, carry traders and stock markets are getting what they want. In a very bold move, the Fed lowered its benchmark interest rate to 4.75% from 5.25% the first cut in four years, to protect the US from sinking into a recession sparked by fallout from the housing-market slump.

The rate cut was bigger than what most people had expected.

Asian stock markets are having a great day.

Let's make some money together!

http://www.gracecheng.com/blog/531
/Carry%20Trades,%20Stocks%20Set
%20To%20Rally.html

Anonymous said...

The only world economy China and Japan central bankers are discussing are how they are going to get out of those bad US Treasury.

http://beta.malaysia.news.yahoo.
com/rtrs/20070920/
tbs-japan-economy-china-
21231dd.html

China's central bank chief, Zhou Xiaochuan, met Bank of Japan Governor Toshihiko Fukui on Thursday and the two exchanged views on global economic and financial conditions, including those in China and Japan, the BOJ said in a statement on Thursday.

The BOJ said Zhou, governor of the People's Bank of China, visited the BOJ headquarter on Thursday morning.

It declined to provide any further details.

Anonymous said...

Tankan business confidence survey will not help the US Dollar any.

Higher then expect mean the Yen should get stronger then the Dollar.

http://www.bloomberg.com/apps/
news?pid=20601068&sid=
abHwXo77Qh4I&refer=economy

Japan's manufacturers are confident the economy will recover from last quarter's contraction, a government survey showed.

Sentiment among manufacturers with at least 1 billion yen ($8.6 million) in capital rose to 7.7 points this quarter from minus 2.2 points in the previous three months, according to a survey released by the Cabinet Office and Ministry of Finance today. A positive number means optimists outnumber pessimists.

The result indicates that the Bank of Japan's more widely watched Tankan business confidence survey may not deteriorate next month as expected. It also shows Japan's businesses are confident that the world economy will withstand the effects of a collapse in the U.S. subprime mortgage market.

``This number suggests that companies think the global economy can muddle through,'' said Hiromichi Shirakawa, chief economist at Credit Suisse Group in Tokyo and a former Bank of Japan official. ``The improvement in sentiment suggests that the Tankan will be sort of flattish -- but that's better than the market expectation.''

The quarterly Tankan, scheduled for release on Oct. 1, will probably show that sentiment fell to 22 from 23, according to the median estimate of 14 economists surveyed by Bloomberg News.

The yen traded at 115.91 per dollar at 11:49 a.m. in Tokyo from 115.99 before the survey was published.

Confidence among all businesses rose to 6.2 points this quarter from minus 0.9 points, the government said. Companies were pessimistic in the second quarter for the first time since the current survey began in 2004.

Anonymous said...

Sadly, a half point rate cut confirms that banks are in worse trouble than we know. Bernanke is willing to give up the dollar to save the banks. He probably wants us to figure this out for ourselves.

What do we do?

Anonymous said...

"Is Everbank a solid option. Maybe %50Euros/%50Francs?"


Ummm, Swiss Francs pay 0% interest @ Everbank. So, if you park money in that currency, you're betting that the dollar will depreciate vis a vis Swiss Francs.

Anonymous said...

Comment on another board suggests the author of the article for London Telegraph - Saudi dropping USD peg - is a conspiracy theorist. Wait for confirmation of this news story.

Anonymous said...

During the 30's depression, did the value of the dollar go up or down? Anyone got some insights on this?

Anonymous said...

Dollar crashed last night. At 78.8 on the USDX

Edgar said...

It must really suck to be the KSA, sitting on a stack of rapidly depreciating $, knowing that you must sell oil for more of them tomorrow. No choice.

euroman said...

NZD bonds pay 4,7% as far as i can see, not much more than euro bonds, or am i looking at the wrong data?

tin-foil shortage hits u.s. said...

Good grief! And Bush and the republicans have wasted $2,000,000,000,000 (trillion) dollars (so far)to find bin laden? While bin laden has taken over the world financial markets after spending just $7.42 on 18 plastic box cutter knives? Any questions? If so, please contact your local GOP tin-foil hat group.

AMIGAUSER said...

Keith
I think we have been sniffing the gold again - you are definitely suffering from gold bug syndrome this mourning

The Saudi Royal family are totally dependant on the American military for their very survival.
Have they started selling Oil for gold - NO, Have they started selling Oil for Euros/Pounds/Yen/Yuan or Rupee - NOOOO. Have they started selling off their huge holdings of Dollar T-bills - No

The Chinese are just trying to influence the Congress/Senate, before the passage of an important trade bill.
They still need to sell products to the American consumer - their middle class is not big enough - YET.
The Chinese must therefore seek to save face before they are made to allow the Yuan to raise in value against the Dollar.

I guess the gold bugs cannot bring themselves to admit that products of the Earth are valued in paper (Dollars) and not their relic.
When the Dollar looses its reserve status, the world will turn either to the Yuan or the Rupee, and no doubt the Gold bugs will cry again.

Anonymous said...

Soon 1 ounce of gold will buy a house.

Anonymous said...

Hmmm, the scenario about jacking up the rate enormously after the election makes alot of sense to me. I don't see it happening any other way. Why not? Not really a risk politically

bobbyg said...

Charles,

I have money in a Euro CD and Yen CD at Everbank. They seem pretty good but you take a substantial hit everytime you convert between currencies. Also, I only earn 2.75% on my Euro CD and virtually nothing on the Yen CD. So Everbank shaves at least a 100 bp of what the market would pay.

Anonymous said...

Based on Bernanke's Depression thesis it seems that he is going to lower rates dramatically and quickly over just a few months, because he believes that if he doesn't the banking system will collapse, the stock market will crash, we'll have a Depression or who knows what. In the end this probably won't make any bit of difference and will cause a hyperinflation of consumer prices and a collapse in the value of the dollar - and may not be even needed at all. He's fearing that the credit markets and banking problems justify such a course of action, but that isn't a 100% certainty. Maybe the problems aren't as bad as he fears. But we won't know that.

Instead a year from now if he continues this course we'll have a different set of problems - a dollar that has collapsed in value and eventually a huge spike in interest rates as foreign investors flee the dollar and the US government bond market.

I almost wish I had no money in my brokerage account or my banking accounts right now and just had a closet full of gold bullion. One could sell everyone one has and put it in gold and not have to worry about a thing right now. But of course gold stocks will go up huge over the next 6-8 months so there is more money to be made in them. I'll just have to buy the next pullback or 1-2 week period of consolidation in them and get on board that ride. But at some point it will be prudent to take profits and move the money into pure gold or a foreign currency as I fear that the dollar could actually become worthless when Bernanke's is done.

http://www.commodityonline.com/news/topstory/newsdetails.php?id=2791

Trevor Cordes said...

All Americans should write their representatives and email the white house and the fed. Your fed leaders have disgraced you. The crappy Canadian dollar, just a few years ago worth 1.60 per 1 US$, a dollar backed by a country with 1/10 (one tenth) the population as the USA, just became, today, worth precisely $1 US$ (par). You have lost 60% of your purchasing power against the loonie in a few years. The only other time the CA$ was so strong was about 40 years ago.

If mighty USA can't keep up with wimpy, tiny, Canada, that's one big pathetic statement. If the Fed had raised rates as inflation and fundamentals require, the whole world wouldn't be laughing at the US$ right now.

Mogambu Guru is right: you are all freakin' doomed.

Anonymous said...

tin-foil shortage hits u.s. said...
Good grief! And Bush and the republicans have wasted $2,000,000,000,000 (trillion) dollars (so far)to find bin laden? While bin laden has taken over the world financial markets after spending just $7.42 on 18 plastic box cutter knives? Any questions? If so, please contact your local GOP tin-foil hat group.

September 20, 2007 1:59 PM


=============

2 trillion? Do you even know what a trillion is you douchebag?

Sheeple said...

If our fiat continues to weaken against other currencies, won’t that bring foreigners over to leverage against a favorable exchange rate to buy our real estate. Didn’t the Japanese do this in the not so distant past?

Westparker said...

I was thinking about this last night. As the dollar falls, the Yuan falls as well against all other currencies (peg). Since the Chinese economy is strengthening and they import nearly all their raw materials, wouldn't they want to un-peg their currency? With the Yuan weakening (relative to say the yen or Australian dollar, wouldn't that help increase Chinese domestic inflation due to higher import costs. Furthermore, doesn't the peg weaken the tool china has to influence monetary policy (changing interest rates to effect the value of their currency and cost of exports)
Any other opinions? What's the other side of the coin?

Anonymous said...


Anonymous said...
I bet Saudis will fall in line with Kuwait and UAE and eventually cut rates. They cannot afford to displease the Superpower of the Universe.

September 20, 2007 4:22 AM


Tell that to the 18 out of 19 9/11 terrorists that came from Saudi Arabia. So who did we invade?

They can do what ever they want, it halps to have low friends in high places.

rcochran said...

It's far FAR more important to pacify Wall Streeters than to prevent a collapse of the US economy, didn't you get the memo?

bryce in canada (vancvr & calgry bubbls) said...

Everyone up here in Canada is talking about how the CAD$ has "soared" vs. the US$ in the last few months.

Wel, uh, not quite. What has happened is that the US$ has tanked vs. the CAD$.

An hour ago the CAD$ was actually worth more than the US$, by about a hundredth of a cent. 150 basis points since yesterday's close.

This is not good for the USA, and it's not good for Canada either.

Keith: when do you think the Vancouver real estate market will bottom out? 3 years? 6 years? Prices haven't collpased here yet, it's a bit different than USA, but it will happen -- it will just take 2 - 6 more years, that's all.

Anonymous said...

I am suprised they are sellin Greenspams book in US Dollars

Charles said...

Thanks for the input everyone.

To anon about the Franc I just thought it would be a good hedge as I believe it is still a partially commodity backed currency (not completely fiat)

My CD is up in Nov so I'll be checking back with all you Everbank guys for input again.

Anonymous said...

i think the chicoms are in a sticky wicket......if they hose us down, then they hose themselves....and suddenly that bogus economy they built upon cheap exports to the united states, collapses and this silly notion in communist china that somehow the economic situation of the common man has become much better now, and under communism, no less, shall be a thing of the past..

so the commies will not throw away the dollar....for one thing they have many of them in their currency reserves....

now then, what could they possibly do to get out of this situation......well some kind of manufactured crisis would take the heat off of the chinese leadership.

would they sacrifice 1 trillion dollars in us currency to own taiwan?

yes i believe they would gladly pay 1 trillion dollars to have a complete and intact taiwan.

but as far as the chinese and the dollar is concerned, i think it matters not anyway. what the saudis have done is sufficient.

Anonymous said...

I almost wish I had no money in my brokerage account or my banking accounts right now and just had a closet full of gold bullion.<<<

its still not to late.....


YOU GOT TO BELIEVE...!!!!!!!!

Mkkby said...

You're all missing a key point. The US government's debt is somewhere in the neighborhood of $30-50 TRILLION dollars, when you factor in future promises of social security and medicare.

The only way this will ever be repaid is by drastically deflating the dollar. I believe the smart guys at the Fed and Treasury department have realized this for a long time, and are engineering a slow fall as best they can.

Folks like Jimmy Rogers know this as well. That's why he preaches balancing the budget, and predicts depressions and dollar collapses unless they do. (By the way, he's been predicting that recession for a few years now.)

But don't think for one minute the Chinese are in the driver's seat. They are screwed. Do you hear me screwed. They worked like slaves for $1/hour and sold us cheap ipods in exchange for paper treasury bonds that will be repaid in monopoly money. They can't actually use the nuclear option, because it would kill their own economy, and they'd be overthrown in a bloody revolution. We are the ones with the power. At the cost of a recession, we can basically starve them.

My point is don't panic and make rapid investment moves. The dollar is a fraction of what it was 40 years ago and we're richer than ever. It will be a lot lower in another 40 years. I'm diversifying out, but slowly and at good prices.

FlyingMonkeyWarrior said...

@devestsheeple,
re; Won’t that bring foreigners over to leverage against a favorable exchange rate to buy our real estate?
Yep, the Tiawanise and Chinese,I reckon.
heh

FlyingMonkeyWarrior said...

hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation.
******************
@ Readers & Keith,

They forgot to add under the threat of a 27% trade import tax on China's cheap goods. I think they meant to say the Democratic Congress rather than DC in general, and already happening.
I posted it here last December.

bryce in canada (vancvr & calgry bubbls) said...

I agree that depreciation of the US currency was inevitable.

From 1984-1990, Canada's fiscal situation was almost as horrendous as the US's is right now. So Canada reduced its annual deficits and then stopped running deficits and then started running surpluses and over the course of twenty years the national debt got bigger for the first 10 years and over the last 10 years has been getting smaller. For about 12 of those years, Canada's currency generally depreciated and then, thanks to a commodities boom, has appreciated over the last 6 or 7 years.

Canada didn't eliminate its annual deficit overnight. It took 12 years (1984-1996). The USA has to stop running deficits, likewise.

Trevor Cordes said...

Bryce in Canada: USA eliminate its deficit? Hahahaha, funny.

Although, the day the retardo Asians stop taking IOU's for real goods, which may one day actually occur, the USA deficit will disappear overnight and there will be wide-spread misery and chaos in the US as interest rates (not the phony fed target, but real market-determined rates) will go to 18%. Think it can't happen? Go read your history about 1980. Now THAT will be real ARM pain!

As for the Asians coming in with their strong currencies to buy US real estate: read any book about the Japanese deflation experience and you'll see how the Japs got royally screwed by the Americans during their little mania. Read about how they snapped up big NY landmark buildings and Hollywood studios for insane $$ amounts right before the market tanked and screwed them for BILLIONS.

Certainly the Japanese aren't stupid and will remember that screwing. If the Chinese study as hard as we're supposed to believe, then they will have learned that lesson as well.

BTW, you Manias Panics & Crashes fans, read Devil Take The Hindmost. It's a superb book, and the author sometimes posts on prudentbear.com.

Anonymous said...

Mkkby said...

You're all missing a key point. The US government's debt is somewhere in the neighborhood of $30-50 TRILLION dollars, when you factor in future promises of social security and medicare.

The only way this will ever be repaid is by drastically deflating the dollar. I believe the smart guys at the Fed and Treasury department have realized this for a long time, and are engineering a slow fall as best they can.

Folks like Jimmy Rogers know this as well. That's why he preaches balancing the budget, and predicts depressions and dollar collapses unless they do. (By the way, he's been predicting that recession for a few years now.)

But don't think for one minute the Chinese are in the driver's seat. They are screwed. Do you hear me screwed. They worked like slaves for $1/hour and sold us cheap ipods in exchange for paper treasury bonds that will be repaid in monopoly money. They can't actually use the nuclear option, because it would kill their own economy, and they'd be overthrown in a bloody revolution. We are the ones with the power. At the cost of a recession, we can basically starve them.

My point is don't panic and make rapid investment moves. The dollar is a fraction of what it was 40 years ago and we're richer than ever. It will be a lot lower in another 40 years. I'm diversifying out, but slowly and at good prices.

September 20, 2007 6:15 PM<<<


dont you think the FED has worn out its welcome here? isn't it time we americans take back control of our own money system? as long as we do not control our own money, this sort of madness will continue.

Sheeple said...

If sheeple flee from USD into Euros, etc. doesn’t that create a bubble in the other currencies by virtue of supply and demand? Does anyone really believe America will fail and dollars will become worthless? At what point do we exchange our foreign currencies for USD so that we can buy goods and services we need here? The pain is great; government will act soon to save itself.

michael said...

"I am suprised they are sellin Greenspams book in US Dollars"

US 15.99
CAN 15.99

AMac said...

Someone please help me understand why a devaluation of currency is not a good thing for the housing market. Isn't this devaluation the same thing that made a $50k house in 1950 worth $500k today, making the house a store of value? What am I missing?

Anonymous said...

Ron Paul on the attack. Glad I donated twice to his campaign. He appears to be the only one who understands the problem.

http://www.youtube.com/watch?v=AeHWW5gbc0w

Anonymous said...

In Wiemar 1923
it was possible to purchase an entire city block of prime commercial real estate in downtown Berlin for as little as 25 oz of gold ($500 US dollars). The key was to have real money in the form of gold or silver, or currency backed by those metals."

Anonymous said...

Greenspan gets 100,000 for a speaking engagement. He was asked a year ago if he wanted to be paid in USD or Euros, he shocked everyone saying he wanted to be paid in GOLD!

Anonymous said...

Like I said many times here before: Americans are bitches of the Chinese and Saudis. Bush loves to walk holding hands with the Saudis at the WH's garden. How romantic. Don't forget his brother Neil, who's a lobbyist for Chinese interests in Washington. How convenient.

You voters are a bunch of geniuses!

Anonymous said...

My CD term is up in Nov and I've got $15,000. I can't manage stocks or anything else as I'm busy building my IT consulting clientele.

Is Everbank a solid option. Maybe %50Euros/%50Francs?


ETF

Anonymous said...

"when do you think the Vancouver real estate market will bottom out?"

It'll just level out, perhaps a 5-10% haircut, when all else falters, including Seattle, a couple hours south of the border.

Here's why, Vancouver has a unique identity as the warmest international city in Canada and it's on the Pacific coast. It's effectively, the home to all the business investors who'd gotten their green card by parking their cash in Canadian CDs but doing little else for the country, like starting a business and hiring people.

In essence, it's a Canadian version of Monaco (if that analogy even makes sense). So where Calgary is experiencing an Albert oil patch bubble (like Houston in 1979-80) and Toronto, a condo mania like a Boston or Chicago, Vancouver's not being swayed by a normal RE market because its locus is the most unique among ex-pat, Canadian PR holders. So if a RE bubble collapses, it'll be out on Vancouver Island on the suburbs of Victoria, which went up during the bubble years.

long termer said...

Ok, HPers consider this:
US banks and financial companies sold and unloaded risky mortgage loans in the form of CDOs for the past several years, To Banks, financial companies and Hedge funds all across the EU.
I would say Europe is stuck holding a large portion of the bag.

Still thinking of holding or buying Euros?

Anonymous said...

Someone please help me understand why a devaluation of currency is not a good thing for the housing market.

It is, in the long run. As the paper currency loses purchasing power tangible assets will hold their value.

However in the short run, an expectation of inflation will cause long-dated debt (like mortgages) to demand higher interest rates, thus lowering purchasing power of potential home buyers. You can already see the yield on the long bond rise.

I am hoping for another outcome entirely. I'm hoping that actual inflation stays relatively low, but perceptions of possible inflation go back up, so that one can finally get a decent real return on longer-maturity debt. It's been too low (relative to short-term rates) for far too long, in effect all inflation risk had been priced out of it. I'd like to see 10-year debt go back up to 6-7%.

Anonymous said...

On the lying US government re: inflation:

Canadian Inflation, 2002-2007, 2.3%
Canadian Dollar, 2002, 62 cents
Canadian Dollar, 2007, 1 dollar
10% yearly appreciation vs. USD

Euro inflation, 2002-2007, 2.1%
Euro, 2002, 85 cents
Euro, 2004, $1.40
10% yearly appreciation vs. USD

UK Inflation, 2002-2007, 1.9%
Pound, 2002, $1.50
Pound, 2007, $2.01
6% yearly appreciation vs. USD

So a low estimate based on these three currencies has us at 8%, high estimate inflation at 12%.

3.2% US Inflation?
The greatest lie ever told.

Anonymous said...

You guys who put your money into Everbank are nuts. First of all, they charge a ridiculous fee for putting it in and getting it out. Second, their interest rates are terrible.

If you want your money in CHF, put it into a Swiss Bank. If you want it in Euro, put it into a European bank. You don't have to fly to Europe to do it, many banks have Internet banking and some even have branches in the USA.

Bottom line, if you want to be protected, put your money into a European bank, get the differential on the currency plus collect 4% interest.

Anonymous said...

In Wiemar 1923 it was possible to purchase an entire city block of prime commercial real estate in downtown Berlin for as little as 25 oz of gold ($500 US dollars).

Just be sure you would have sold it before 1933!

Anonymous said...

Anybody in the Merck Hard Currency Fund (MERKX)?

devils clown said...

westparker,
good thinking, you will make a good minion dancing in the flames, while you poke the less "thoughtful" souls in the ribcage, with a pitchfork.

Was in a battle the other day.
I was blindsided by this vicious lost soul.
he put me in quite a forceful and powerful full nelson.
I became a rag doll, a mere puppet to his every move.
He moved, I flailed. Didn't matter which way he moved, I followed.
I had no choice. He was in the superior position.
As I relaxed my posture to the souls increasingly violent thrusts, he relaxed his grip just a bit.

Guess that poor soul is better off.

I used a reverse technique that worked beautifully.
He never saw it coming.

As I tightened my grip, applying a full nelson, (same stranglehold he had performed on me), I broke his neck and walked away.

I bought an ice cream cone.

Mint chocolate chip I think.

Gets pretty hot where I'm from

Lesson?

Things can change in an instant.

I would not have been able to do what I did, if he had not done what he did.

westparker;
Looking forward to seeing you soon, dancing and prodding...
Bring sunscreen!!!

Ha, Ha, Ha!!

Wait, What is this
"Mo Gumbo Soup" Guy I keep reading about here?

Sounds like he would make a wonderful minion!

Is he worth a visit?

Anonymous said...

bark, bark, bark, bark bark.....amazing what technology will do????????////

Anonymous said...

saw a glimse of china today in the survivor tv show and was surprised at the wealth that was shown, is it posible that china did what the rich and wealthy and smart did and hid the wealth? I was woried that with the one child policy and the abortioning of female children that 400,000,000 men would be without brides and that internal form of stability...

Anonymous said...

What are some names of European or Swiss banks with branches in the U.S.?

Anonymous said...

I would like to see 10 year debt go up to 12 percent...

Anonymous said...

Anybody in the Merck Hard Currency Fund (MERKX)?

I am. My mining and energy funds are doing better (I think a lot of MERKX's gains are from their initial gold purchase).

Anonymous said...

Food is at the base of Maslow's hierarchy of needs.

Does anyone know of a good mutual fund that invests in international food production, processing, and distribution?

FlyingMonkeyWarrior said...

http://tinyurl.com/93na6

Mogombo's Current Editorial and Archives;

Agree with him or not, good reads.

Anonymous said...

Anybody in the Merck Hard Currency Fund (MERKX)?

Yes, also DXDDX which is a 2.5X dollar bear. Don't fight the fed. They are going to devalue your dollars, so take advantage of the situation. Unfortunately, leverage is needed to maintain a gain. If your dollar devalues by 50%, and your MERK fund doubles, you may have saved yourself, but you still need to pay taxes on the doubling of dollars when you cash out. Government is evil. And as another said, I will dump my gold and silver in the ocean before I give it to them.

Anonymous said...

I'm buying FXF (Swiss Franc Trust) instead having money in bank.
I was sooo stupid saving money! I should just max all my credit cards.

Anonymous said...

Currency EFTs, using more than one brokerage account, is a good idea because SIPC protects about $500K in active securities (not simply raw cash) per account. Normal cash, USDs in savings/CDs is a waste, for the most part.