six top banks fined $US6bn rigging fx, Libor, page-85

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Dentie

3,269 Posts.

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29/05/15

06:24

Post #: 15373180
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Originally posted by Skol ↑

"American futures speculators" === Happens everywhere, anyone can be a futures speculator, even the low key indian dude in London who allegedly caused the flash crash.

"American led QE programs"==== A spectacularly successful programme replicated by Euro countries and the Chinese, it's happened a lot. Big deal. China's doing it right now.

"American abandonment of the gold standard"=== The gold standard was a prehistoric idea, it was one of the main causes of the great depression, only religious jihadists like GATA want it reinstated.

"American heavily inflated stock markets"=== Whether the stock market is overvalued is relative, other stock markets like the Shanghai Index have soared this year, up 120%, I suggest you look elsewhere. The US economy's on a roll and if recent data improves it'll go up more. The US stock market is way behind where it should be, booms follow busts.

"American 18 trillion dollar debt"===China has more debt/GDP than the USA.

"American dollar is reserve currency"===Of course, there's a very good reason for this, you need to educate yourself.

"American big banks fined for forex manipulation"===So have many other banks in many other countries, not just forex either. If you think the gold market is manipulated what the hell are you doing there?

An America hater? Quite common among goldbugs..

As for Russia and China, they're both in deep schiff, China with more debt than the USA, empty cities, massive pollution, and corruption. Pretty much the same for Russia as well, only they're handicapped by fascist dictator Putin who's going to send the country broke buying gold and embarking on military adventures.

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As a Kiwi Skol... thought you might appreciate this piece from today's Herald from a well known and financially educated fund manager....

http://www.nzherald.co.nz/best-of-b...wsdirect_J20080610_113625_2167_4261_883682029

Everyone should just hope they are on the right side of the ledger when all this comes to an end!
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0 Great analysis

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