Friday, November 16, 2007

Boiling Frog Watch....

As this period of "consequences" continues to play out, will more people make the connection, even vaguely, between this and things like this? (For those tempted to post something about LIBOR or expiring repos or the fed funds target rate, remember this is a family blog.)

If you're the White House, a Republican candidate for president, or Ben Bernanke, you better hope the Hollywood writers strike ends soon.


Anonymous Anonymous said...

I'll have you know that the White House has a "strong dollar policy." So there.

11/16/2007 4:06 AM  
Anonymous Anonymous said...

And furthermore, neener neener.

11/16/2007 4:07 AM  
Blogger Mona said...

HAHAHA...ok anonymous up there just cracked me up. So here's a question for you Cunning, what does the average American do right now to protect themselves financially. I mean we only have so much control over what happens at the Federal and World level...we vote and hope for the best...but what can an individual do right now to try to financially circle the wagons if you will?

11/16/2007 11:50 AM  
Anonymous John B. said...

I am wondering that too Mona. I mean I know enough to not be or stay in debt, pay off bills, apy off mortgage, etc...stay put interms of housing, etc...but what does one do with savings?
With the falling spiralling dollar savings are essentially losing value every day...

11/16/2007 2:46 PM  
Anonymous Jannia said...

"but what does one do with savings"

It might take a bit of shopping around to find a broker/dealer who has product in that space, but you can find Euro or AUD denominated bonds at nice rates (6%+).

11/16/2007 6:51 PM  
Anonymous Anonymous said...

Or if you have (or can open) a basic online brokerage account, you can buy certain foreign currency ETFs as easily as buying an individual stock or an equity ETF. But if you have little financial market experience, don't go nuts. These things don't simply go up (versus dollar) every single day. Still, if your long term view of the dollar is negative, it's a convenient way to do something to protect yourself by diversifying some percentage of your cash out of US dollars. My personal choice right now is Swiss Francs (FXF). Oh, and use limit orders.

11/16/2007 8:43 PM  
Anonymous Anonymous said... sells CDs in other currencies -- aussies, loonies, pounds, krona... a whole range. sells investment gold and silver.

thing to worry about is the stability of the brokerages themselves.....some have mortgage divisions, and we're seeing what's happening with Etrade. So if you're going with the currency ETFs, make sure you do it at a place that didn't get involved in the housing gold rush.

finally, under the patriot arm, to "protect us", the government can open your safe deposit box and confiscate guns, drugs, us currency and bullion. But, oddly enough, you can raise a legal stink and possibly prevent them from taking foreign currency (because it belongs to another sovereign nation).....

so my preference is for Canadian silver and gold dollars.

good luck to all. it is a sorry, sorry day that we're sitting around trying to figure out how to protect ourselves from our own government.

11/17/2007 7:45 AM  
Anonymous Anonymous said...

AHHH but according to Foxm, the rise in gas prices are because the Democrats picked Pelosi...

As long as they keep lying to themselves, people (in the this case Republicans) will never make the connection.

11/17/2007 9:05 AM  
Anonymous Anonymous said...

new reg at citi it seems.......picked up by James Sinclair.... premier gold trader:

Next Day. Funds are credited to your account on the next Business Day, if I request the transfer by 3:00 p.m. ET on a Business Day. This type of request is subject to the following conditions:
(1) in order to request an INCOMING Next Day Transfer: (a) the available balance in my Eligible Citibank Account must be at least $500; and (b) I have successfully completed an incoming standard transfer from the same Verified Account in an amount of at least $500 at least 20 calendar days prior to requesting the Next Day Transfer.
(2) in order to request an OUTGOING Next Day Transfer, the available balance in my Eligible Citibank Account must exceed the amount of the requested transfer by at least $500.

Limits on IIT Transfers
Type of Limit Standard Transfers Next Day Transfers

Standard TransferS Next Day Transfers
Daily $100,000 $1,000
Monthly* $100,000 $2,500

Standard Transfers Next Day Transfers
Daily $2,000 $1,000
Monthly* $10,000 $2,500

Without relying on the above account agreement, or the above institution, my read on this is to put in place a tool to prevent an electronic run on an institution such as the one which recently occurred in Great Britain. If you have $1,000,000 in such an account and such an agreement governs it, it would take you 100 months to withdraw the funds.

Such an agreement would, in my opinion but not referring to the above bank, never be put in place unless there was a suspicion that such a run in the bank could occur.

11/18/2007 7:33 AM  
Anonymous The bearded Wizard said...


11/18/2007 6:37 PM  
Anonymous Cheryl said...

From the Times Online:

The Taj Mahal and other top tourist sites in India are refusing to accept dollars to pay for admission, dealing another blow to the prestige of the weakened American currency...

...The Indian Ministry of Culture said that it was ditching the dollar to correct “any anomaly” caused by currency fluctuations that were adversely affecting its income.

11/19/2007 6:42 PM  
Anonymous goldhorder said...

To Mona...

Step one buy a rifle and a shotgun

Step and take possesion of gold bullion.

Step three... set gold under metal pail and sit atop metal pail and shoot anyone from the federal government who comes near you.

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation." ~Alan Greenspan, in 1966

11/20/2007 10:35 AM  
Blogger rose said...

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.


2/22/2010 11:23 PM  
Anonymous Kamagra said...

if you ask me my own opinion about this theme, well in this moment is a little complicated to understand the situation that our country is passing by, for now we must to wait and see what will be the solution to all this.

5/11/2011 12:18 PM  

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