[Video] Robert Fisk responds to the denials of ‘dollar demise’ report

Stacy Summary: Good stuff.

166 comments on “[Video] Robert Fisk responds to the denials of ‘dollar demise’ report
  1. re being poor/broke (or not):

    Learn Chinese, specifically Mandarin. It will be very useful in the near future.

    I suggest the Michel Thomas method – you can download it via torrent.

  2. Dedo says:

    @Ilya Kuryakin,……..more sound advice,……cheers!!
    @Super,…..watch and learn,….watch and….: )

  3. Dante says:

    That’s what I figured…an impotent response! Just like your commentary.

  4. Dedo says:

    @Phil,…….Re: learnin’ Mandarin,….you reckon it can be done in six monat,..with the right mindset?

  5. Youri Carma says:

    Last week, many of the aboriginal people in the remote west coast village of Ahousaht were innoculated with the tamiflu vaccine. Today, over a hundred of them are sick, and the sickness is spreading.

    The Mask Slips, for Those with Eyes to See: Preparing for the Real Pandemic http://tinyurl.com/ndfxcx

  6. Dedo says:

    @Dante,……; )

  7. For my 2 cents:

    – 66% of Central Bank reserve assets are still denominated in USD.

    – USD denominated credit markets are still by far the deepest in the world.

    – The process of supplanting the global reserve currency is likely to be more gradual than sudden, insofar as the process is constrained to reflect international currency and trade flows. Yes there are massive structural imbalances, but without changing these imbalances (not something that can be accomplished overnight), “dumping” the dollar doesn’t seem a plausible scenario. Besides, the current “green shoots” rally/recovery is only further exacerbating these imbalances.

    – Ironically, it seems only a chronically strong USD could act as a catalyst for rebalancing global trade, and ultimately moving beyond the USD hegemony. In the context of the current debt burden, a strong dollar would signal that the debt bubble was finally in a process of deflating. Insofar as this implies severe austerity for the US consumer, it would also force producers around the world to look elsewhere to sell their products and in this way begin to change global trade flows.

    – In theory, there is nothing stopping Central Banks from diversifying their assets away from USD’s (a.k.a. the “nuclear” option). But again, it seems such a move is unlikely not only because of the inconceivable panic this would imply, but simply because such a move would not be reflective of “reality” … yet. As long as such a move does not reflect the underlying currency and trade flows, it seems the supply shock such a move implies would prevent any foreign Central Bank from enacting such a move, at least in any decisive manner.

    – Finally, it seems to me, the only true black swan out there is a collapse in the global fiat system. Richard Karn makes a good point I think when he notes that all fiat currencies around the world are essentially derivatives of the USD (Cf. Credit and Credibility http://www.financialsense.com/fsu/editorials/karn/2009/0715.html ). If the USD goes down, they all go down!

  8. WL says:

    @Youri

    That article is wrong Tamiflu is not a vaccine..However I agree with the sentiment re flushot

  9. Danny says:

    @Youri
    Dutch unions protest raising legal retirement age to 67
    http://www.earthtimes.org/articles/show/289082,dutch-unions-protest-raising-legal-retirement-age-to-67.html

    Students protest in Ireland. Students asked to “pay for the bankers, developers, builders and their lavish expense accounts . . .”

    U.S. Marines and Army set up base in Uganda. Troops arrive in Kitgum District for exercise with troops from Kenya, Tanzania, Rwanda, and Burundi. (Kick the Chinese out of Africa)
    http://www.monitor.co.ug/artman/publish/news/US_army_sets_base_in_Kitgum_District_92600.shtml

    Code Pink re-thinking its opposition to U.S. troop presence in Afghanistan. Just like MoveOn.org, follow Code Pink’s funders — and voila: George Soros and his gang.
    http://latimesblogs.latimes.com/washington/2009/10/code-pink-fearful-of-setbacks-for-women-rethinks-call-for-us-troops-to-withdraw-from-afghanistan.html
    http://www.irishexaminer.com/world/students-protest-extra-conferring-charge-102854.html

  10. Supergeek says:

    @d3do
    dedo…you know you can’t learn from anything that is too easy!!!
    PS. I’m not a big Spike Lee fan but I always liked this scene of his the best!!!
    http://www.youtube.com/watch?v=FebGrU0i3V8

  11. Danny says:

    Students protest in Ireland. Students asked to “pay for the bankers, developers, builders and their lavish expense accounts . . .”
    http://www.irishexaminer.com/world/students-protest-extra-conferring-charge-102854.html

  12. WL says:

    Gold bounced movin up again 1051.70, oil movin up 71.35

  13. Dedo says:

    @Super,……LOL,…

  14. Youri Carma says:

    “People will die because of the BBC decision” – Tony Benn http://tinyurl.com/ye7xqr5

  15. dan valley says:

    “Let It Ride”
    sorry i meant the 2 horse…..

    http://www.youtube.com/watch?v=YUuFVVG0q-4

  16. Paul says:

    @Photoception

    Like you, I am not rich. I am in debt, and the reality is, you can still take some measures to protect yourself in these days and times.

    I hope at this point you’ve made some relationships with neighbors or close friends whereby you’ve made provisions like a co-op garden or food storage.

    Beyond that, all you can do is be the change you wish to see; inform everyone who seems smart enough to understand what is going on and create alliances so that when the going gets bad, you’re a resource or at the very least, you’ve got a list of people to refer to for assistance.

    Best of luck.

  17. Supergeek says:

    @Paul Anderson
    It Bees That Way…
    Great link…I remember when i read ‘the mayan prohecies’ a few years ago..I didn’t understand all of it, not being that good at maths… but the book did make a really strong impression on me and I found it really,really interesting!!!

    frikkin’ pickin’ right…where was I…oh yeah

  18. dan valley says:

    @ Ilya…yeah nice….

  19. Mep says:

    Makes sense that people would sh!t on each other a bit seeing as how most of us feel that forces beyond our control are sh!tting on us all as a collective. At the same time, I’d like to think that everybody here is decent enough in real life to know that it makes more sense to offer our fellows a hand up rather than a shove down.

    Re: the dollar, the best we can hope is that the transition is somewhat orderly.

  20. dan valley says:

    they are all fit and fine actually

  21. Photoception says:

    @all

    I didn’t mean to complain about my situation, I’m just frustrated, there’s no good jobs here since before Bear Stearns blew up.

    And I should have known better to knock gold ’round here. But I want the dollar to go up so I can afford to actually fill my gas tank once this year.

  22. Dedo says:

    @Mep,…I hope you realize the only person who’s bin derogatory so far,…is Dante,.and he isn’t aware of it (bless)

  23. Dante says:

    Dedo..I thought it was a pretty contained comment…directed toward someone that felt good about beating another that was downtrodden…just like the elitists everywhere…btw, dedo did you lose your finger?

  24. frances snoot says:

    AdamGibson:
    Do you have the link for that Bloomberg podcast?

  25. Dedo says:

    @Dante,..; )

  26. Mep says:

    @Photoception – You have nothing to apologize for. I’ve never been able to earn much more than poverty wages, myself, because all of the jobs I’ve had were in human services, and society doesn’t value that. If not for my fiance, I’d be in a very bad way despite my frugality and the fact that I only hold student loan debt. I hope that something turns up for you.

  27. frances snoot says:

    @Youri:
    The teenager you linked, Rolf Winkler, said this:
    “No one can really envision a replacement for the dollar right now…I can’t either.”

    bollocks

  28. Phil says:

    @Dedo …”Re: learnin’ Mandarin,….you reckon it can be done in six monat,..with the right mindset?”

    Well, maybe enough time for the 4,000 letter alphabet !
    😉

  29. Phil says:

    @Youri: “No one can really envision a replacement for the dollar right now…I can’t either.”
    @frances snoot .. “bollocks”

    Think “digital” !
    😉

  30. Nic Abbott says:

    @Y’all

    Looks like comex tried to short gold to oblivion and failed. Only way is up now.

  31. Youri Carma says:

    Manhattan rents expected to drop further: report http://link.reuters.com/xur62f

  32. Impressive military display for China’s 60th,
    http://news.xinhuanet.com/english/2009-10/01/content_12146977.htm

    Save pictures 8, 10, and 14 and mail them to the White House: those are what Iran will use to sink the Empire’s entire 5th carrier fleet if Hopey McChange chooses to attack.

  33. Supergeek says:

    @photo
    I didn’t mean to imply you were ‘down’ either It was a typo, the comments were coming so thick and fast… I couldn’t keep up..I burnt my finger!!!
    @y’all
    I’m gonna pick open something now… For somebody obviously very learned…I think jim is one of the weirdest, dumbest posters..on this site just in front of me of course, but look how his wigged out ramblings have actually been responsible for SOME of the most hilarious and thought provoking exchanges… he along with others seemed to inspire frances, dedo and others to another level…not that I think they need help… but go figure… I’d miss the people that post here me included that obviously really know how annoy people!!!…Go Jihim…Go Mihike (all mikes)… Go Dedo…Go Meheh!!!

  34. frances snoot says:

    Re: the dollar, the best we can hope is that the transition is somewhat orderly.

    ARRRRGHH. Mep, you don’t get it! If the transition is orderly then the forces will proceed with slavery and genocide. The Ones in charge of the ‘transition’ are the Ones who have always funded chaos and death.

    Collective guilt to cover the sins of the few has been their modus operandi for centuries. Scapegoat Americans, Goldman Sachs, capitalism, right-wing nuts, neocons, etc….no need for the paradigm anymore. Let’s go with a new mythology!

    The time is past now almost and yet we “hope” for an orderly transition? Shall we queue for hell now?

  35. Dedo says:

    @Frances,…….Like I said Frances,…..your posts are the most informative!! (LOUD APPLAUSE)

  36. frances snoot says:

    if Hopey McChange chooses to attack.

    Good God, Ilya. You do give the man some personal agency. What an imagination you have! He is a prop: did’t you notice his limbs and head are attached to strings?

    He’s been busy blowing love bubble at the UN.

  37. frances snoot says:

    @Dedo:
    Gee. Golly.

  38. Supergeek says:

    @frances
    Life… paradox after paradox… the need for chaos, death…and rebirth… seems to be hard hard wired into our whole existence… and though most of us understand or accept it.. sometime we all just want a rest from it… aahh the security of a nice warm dim lit room!!!
    For All The Regulars Me Included.
    http://www.youtube.com/watch?v=Usuu-xu75dI

  39. frances snoot says:

    @Dedo:
    It seems to me everyone should be most worried about the US future ability to export war: instead of a spiralling debt load and high interest rates, the route seems to be a devaluation of the dollar through IMF manipulation of sdrs. IMF has already indicated a dollar devalution and the US as an export country should be pursued. We’d be like happy happy China of the Ilya persuasion; but instead of car bobble heads we’d send some large arms and taser guns to keep the world citizens in line for the elite. Fun times are coming.

  40. My original name for him was Bobblehead…then some prick went stole my idea,

    http://topnews.in/files/Barack-Obama-Bobblehead.jpg

    “He is a prop: did’t you notice his limbs and head are attached to strings?”

    Of course! The “Hopey McChange” is my way pissing on the Limousine Liberal sycophants, like those douchebags at HuffPo, who actually admire and believe in this fucking robot.

  41. WL says:

    Gold breakin out 1060.30

  42. Youri Carma says:

    @Phil

    Well he’s got a point there but there are a lot of other ways to trade. I’ve asked this question many times which no economic seems to be able to answer: “How much trade is done by just exchanging goods?” I remember from years ago when there still where some good economics around this number was huge.

    But this kind of trade can only be done if you have something tangible to offer in return. So maybe the fiat currencies get boycoted all cause countries only want to trade in real value tangible stuff like food and other commedities and gold of cause.

    Apoligize for taking it out on the poor guy cause I am poor myself too but just couldn’t stand this inward vision anymore but the US is not the only one. I think the Netherlands is an exception on a lot of countries always having their view more outside cause of it’s size and trade position.

  43. frances snoot says:

    @Ilya:
    LOL. Your latest avantar is the best. I like her gaze into the heavens: brings divinity to your message. Is she your muse?

  44. frances snoot says:

    Or maybe she just getting poked from behind….

  45. @frances

    “It seems to me everyone should be most worried about the US future ability to export war”

    Exactly my point! That’s why the Empire needs to be smashed into a thousand pieces. Forthwith.

  46. frances snoot says:

    Spare me, oh Ilya! Oh Great One! Save my dwelling place and my progeny to walk freely upon thy soil, Oh Enumerator of Justice!

  47. Supergeek says:

    @d3do@frances
    yeah, yeah…mutual masturbation…we get the pitcher… if max and stacy are bonnie and clyde who does that make us???(those not acting like uncle)
    WARNING BRACE YOURSELVES FOR BIG NEWS!

    http://www.youtube.com/watch?v=7bfHsOPxSBE

  48. Muse..yes.

    This reminds me of you guys circling like vultures around the last ounce of gold on earth…
    http://www.youtube.com/watch?v=nOex4LOpsiQ

  49. frances snoot says:

    Okay, Supergeek, we get the Big Picture. Is Ilya the Riddler?

  50. Youri Carma says:

    Saudi Prince Tells U.S.: Dump Citigroup Stock, Now http://tinyurl.com/ycgw856

  51. Supergeek says:

    @frances
    re:the riddler…oops that was meant to be a PS.
    I get first dibs on the riddler as it was my fantasy… I just used to love it when he kissed his own hands…just loved himself so much…TV heaven!!!

  52. The United Network Command for Law Enforcement commands you to buy gold and silver in order to destroy the Technological Hierarchy for the Removal of Undesirables and the Subjugation of Humanity

    http://www.youtube.com/watch?v=3NiIHtbvpLM&feature=PlayList&p=01E54823833A913D&index=0

  53. Dedo says:

    @Ilya Kuryakin,…..I don’t get the connection with a town full of homosexuals ? !!
    (where do you dig em’ up from)

  54. Gordo says:

    Actually Chavez and Obama live in completely different worlds. Obama lives in the Right wing controlled Matrix environment of the US. Chavez at least has the support of a large portion of a population that can think for themselves.

  55. Mini US says:

    Have you people been to Venezuela lately?

    The lawlessness, especially juvenile delinquent crime has gone crazy.
    The countries infrastructure has been deteriorating for the last 10 years. I mean roads, power, communications, etc.
    Sometimes there is no food on the shelves in the supermarkets.
    Less and less people have jobs, if you open don’t support ChaveZ its near impossible.
    I am not talking about government figures, I am talking about going there and talking to the people and seeing it for myself.
    The lefties in Australia think he’s great because he sticks it up the Amercians and to some extent this must be applauded, but not to the detriment of his own people.
    But he is doing nothing for his people. Nothing.
    He is a corrupt self proclaimed dictator who rigs votes with US style voting machines. He imported and paid Colombians just to vote for him, then sent them back.
    It is like Cuba. A Venezuelan cannot take their own money out of the country. My wife lost thousands because the bank confiscated her credit card and now she lives here she cannot redeem it.
    I could go on but it would be jibber jabber and I am just trying to explain how the saviour of the people turned out.
    Before the drop in the oil price last year Chaves was making the most money Venezuela has ever made from oil in its history.
    Where is that money?
    He is a Communist Oligarch and no different to all the rest.
    The venezuelan people voted for Chavez for the smae reason the US people voted for Obama. They wanted change, they wanted hope and they wanted someone to lead them to the promised land.
    These sheeple want someone to come along and SAVE them and sort out their problems. They are too lazy and stupid to take responsibility to do it themselves.
    Chavez thinks he is the new Simon Bolivar, the saviour of the whole of South America. He wants to be the ruler of a South American block. He is a megolamaniac.

    What people in both countries are getting is disappointment.
    I, like most of you, are bitterly disappointed in the US government and the wests greed and mismanagement and we all feel ripped off.

    Well wait until China and Russia are in charge and people like Chavez have more power. We will all be praying for the return of Obama and Bernanke.
    Sorry for the rant, but as I have said before, be careful what you wish for with your gold stash and champagne socialism.

  56. Supergeek says:

    @mini us
    I am not criticising your comments, I enjoyed reading them.. but what I have been picking from the general comments is countries like china seem more comfortable or able to get away with suppressing their own population…whereas america and countries like them favour oppressing people abroad…we really need less oppression…and more balance!!!
    sorry if I’m just stating the obvious.

  57. @Mini US

    “Have you people been to Venezuela lately?”

    Um, yeah, and the place I saw in no way resembles your comments. Just about everything you stated is Bullshit.

    Fuck it. I’m not even gonna bother. Be happy in your fascist Oz.

  58. Mini US says:

    @Ilya Kuryakin
    Happy to listen to you.
    Where did you go and what did you see?

  59. This seems an apt quote re: Obama Nobel Peace Prize.

    “The imaginary seemed so real
    And the world outside became like a dream.”
    – Adam Curtis

  60. … actually, that quote would apply to many of the absurd shenanigans going on around us, but really, this Obama thing has got to take the cake on “WTF” scale!

  61. fancychance says:

    fisk could possibly be a financial terrorist for the british. the british seem to have a lot of connections to the mistakes the us government have made.

  62. Damian says:

    I feel the need to respond to “Mini US” regarding Venezuela.

    The first think you have to understand when you try to understand venezuela is the class divide: 70% of the population lives or lived until very recently under the poverty line. THATS EXACTLY why Chavez was elected in 1998.

    Mini US comments are those of the privileged 10% – 15% Middle to upper class who are mostly white, many speak english, have houses in Miami since the 1970’s (Mainly in a Neighborhood Called Weston, but better known as Westonzuela). They can afford to travel to the US; have optimal medical care and education, UNLIKE 70% of the venezuelan population. It might surprise the average american that the average venezuelan middle class has a Maid, or two, and some even a chauffeur.
    A little history is in order:

    In the 70´s, our currency was in par with the dollar, and was valued more than many european currencies. By 1983 we had a Black Friday: our currency was devaluated. Our middle class shrinked from 70% to today´s 10-15%. We had a riot in 1989. The president had to resign, after surviving a coup attempt. (By Chavez, in 1992. That coup had an approval rating of around 80%). Many middle classes left the country, while poor ppl found it impossible to become middle class themselves.
    Many upper/Middle class venezuelan have either Spanish, italian, portuguese, german or US passports, so they can, and have, left the country en masse, because of Chavez´s “Communism”. These middle classes are educated professionals, some have their education paid for by the Gov´t. They graduate and migrate, so the US and Europe benefit from this Brain Drain. The poor classes, mainly of african or indian descent, have NO foreign passport to reclaim.

    Now, to answer Mr “Mini US”:

    I do live in Venezuela. I belong to the “privileged” Middle class. I do have a foreign passport, and I speak english as you can see. Yet, I say Chavez is right.

    Juvenile delinquency has been roughly the same since the 1970´s. It is a by product of poverty, and it affects mainly the middle class, as only ppl with money is subject to robbery. The way to stop this is thru education, which has grown threefold since chavez came to power, thru the “Misiones”. The Middle class laugh at the missions. The poor doesn´t.

    No food on the shelves: This is a way to speculate with food that the big food producers have against chavez, so he gets the blame. Theres full respect for private property and enterrpise here, so they do what they want. The Gov´t combats this thru Missions MERCAL and PDVAL, who sells food well below the cost.

    We have more jobs than in the US and Europe, that´s for sure.

    Doing nothing for the people? when was the last time you went to a shanty town? you can find educative missions, food, cuban doctors who provide free medical care, he has founded univrsities, medical centers…the list goes on and on. Of course, these services are for the poor, not the middle class.

    There´s no need to rig elections. Just search for Hinterlaces or Datanalisis,or Luis Vicente León, avowed opposition survey services, who give chavez between 55% and 60% of the electorate. On the contrary, opposition leaders have no more than 4% of votes.

    Yes, you cannot take your money easily and freely as before. Why? because of the massive capital transfers the middle class did to the exterior, that hemorrage had to be stopped somehow.

    Where´s the money oil? I already told you: in the Misiones.

    Chavez is indeed different. If he were the same, he woulda been super pals with George W. Bush. He could have left power 5 years ago and live comfortably in miami. But he hasn´t.

    When you call people lazy and stupid, obviously you´re a bigot.