Central banks start to abandon the U.S. dollar

[Studeo]

http://wallstreet.blogs.fortune.cnn.com/2010/07/09/central-banks-start-to-abandon-the-u-s-dollar/

Central banks start to abandon the U.S. dollar

There's mounting evidence that central bankers have little faith in the greenback these days. Can we blame them?

by Heidi N. Moore, contributor

There are those who would argue that the financial crisis was caused by over-enthusiastic worship of the Almighty Dollar. Call it brutal financial karma, but that church is looking pretty empty these days.

A new report from Morgan Stanley analyst Emma Lawson confirms what many had suspected: the dollar is firmly on its way to losing its status as the reserve currency of the world. We already knew that central banks have preferred gold to dollars, and that they're even selling their gold for cash; now, according to Lawson's data, it seems that those central banks prefer almost anything to dollars....

Peace to all.

[conk]

None of it matters now. The system will fail in our lifetime. It's by design. The designers know it will fail over time and they fully understand how to exploit the demise of the fiat. By constantly pouring more and more 'money' (really debt) into the system, they are able to funnel off what we call inflation. They take the newly printed currency for their own, making our money less valuable. Inflation is not pricing going up, it's the value of the dollar or currency going down. They suck from the bottom until it's all gone. They incur debt and shyphon off the top until they can't inflate any more. They cannot inflate to infinity so the system bursts and fails. They start all over again. They've been doing it for hundreds of years. Just find a 'family tree' of the Federal Reserve System controllers. You can see how the same families have controlled the world's money supply since the 1600s.

Do not ever forget that only gold and silver are real money. Buy precious metals NOW or watch your bank account zoom to great heights, while having little or no value.

FIAT MONEY FAILS!

[Arpheus]

You cant eat precious metals,the whole buy gold or silver talk is bull talk imo,when it hits the fan wont matter if you have all the gold or silver in the gold it wont make you be able to get any food,i always get a kick when people say that,what people will have to do is stick together form communities and live off the land as we were supposed to since it all begun ,never forgetting about the balance.I stand by the fact metals arent food they will just be useless as well in my opinion investing on those is an absolute waste.

[Operator]

IMHO ... the ones in 'protect your wealth' mode are still in the old paradigm ...

[sunnyrap]

Not arguing with the last statement at all, but I think beings throughout the ages value gold because it is, well valuable. Current times I think most people have lost track of just why it's valuable...maybe more valuable than that case of beans... Found a good blurb to sum it up:

Although the Egyptians knew of the metaphysical and healing powers of gold, it was the great alchemist Paracelsus who first prepared gold colloid solution in modern times. He called his purple solution of gold Aurum Potable and believed it cured all manner of physical, mental, and spiritual ailments. "Gold receives its influence from the Sun," he wrote, "which is, as it were, the Heart of the world and by communicating these influences to the human heart it serves to fortify and cleanse it from all impurities." The alchemists believed that gold represented the perfection of matter, and that its presence in the body would enliven, rejuvenate, and cure a multitude of disturbances in the life force balance of the body. In fact, the alchemists believed colloidal gold had a balancing and harmonizing effect on all levels of body, mind, and spirit. It was used to improve mental attitude and treat unstable mental and emotional states such as depression, melancholy, sorrow, fear, despair, anguish, frustration, suicidal tendencies, seasonal affective disorder, poor memory, poor concentration, and many other unbalances in mind, body, and spirit.

[Operator]

Not arguing with the last statement at all, but I think beings throughout the ages value gold because it is, well valuable. Current times I think most people have lost track of just why it's valuable...maybe more valuable than that case of beans...

LOL ... indeed a paradigm shift ... from 'protect your wealth' to 'protect your health'