US Economy in "Relentless" Decline

Analysts say dollar will continue to slide no matter what

Infowars.net | November 1 , 2007
Steve Watson

Economic experts have predicted a continuing slump for the dollar, no matter what the federal reserve does. Others have suggested the dollar's decline is now relentless and will only be accelerated as other countries abandon it for stronger reserve currencies.

�The relentless slide in the dollar against other major currencies, notably the euro, is encouraging speculation that Asian countries and oil producers will step up diversification of their reserve assets out of the US currency, accelerating its decline,� Capital Economics' Julian Jessop has written today.

While Jessop states that the The dollar's fall has been and will be further driven by a slowing US economy and not by reserve asset diversification, others are not so convinced.

Despite the fact that the Fed has today cut interest rates by a quarter point , analysts at Market Watch believe the dollar is to continue on a downward spiral now, no matter what:

"Whether the Fed cuts its benchmark a quarter percentage point, as expected, or a half-point --or even not at all -- the dollar is likely to bear the near-term brunt of the market's kneejerk reaction either way, and then move in one direction: down." Lisa Twaronite states.

Regardless of whether or not the Fed cuts rates, "the dollar is in for a beating," said Marilyn McDonald, marketing director at Interbank FX.

"The U.S. dollar is finally in trouble. For quite some time now, it has been one of the top five yielding currencies among the [Group of 10 industrialized] nations, which is why it has been used in the carry trade for so long," she said.

Carry trades involve borrowing lower-yielding currencies, such as the yen, and investing it in higher-yielding assets. The dollar has long benefited from such trades, but the benefits are dropping in line with U.S. interest rates.

While the vast majority of analysts agree that the markets are in deep trouble and the dollar is weak due to relatively poor economic fundamentals, U.S. Treasury Secretary Henry Paulson has said that financial markets are recovering from the subprime crisis.

Paulson again echoed previous sentiments of the IMF, Alan Greenspan and Ben Bernanke, stating that while it was "definitely the case" that innovation in U.S. capital markets had gotten ahead of regulatory controls, contributing to the crisis, such innovation remained desirable.

"I don't think we would want it the other way around. If we had it the other way around, we'd be sacrificing growth and efficiency in the markets."

They have all continually badmouthed the dollar, claiming it is "overvalued" despite the fact it has lost over half of its value against the Euro since 2001. The IMF, despite acknowledging "the likelihood of a disorderly plunge in the dollar" and contrary to pleas from Europe has given the green light for traders to continue to sell the dollar.

In their World Economic Outlook brief, the IMF brazenly states that the agenda in continually badmouthing the dollar is to exalt the Chinese Renminbi in order to contribute to "a necessary rebalancing of demand and to an orderly unwinding of global imbalances."

In layman's terms, this means lowering the living standards of the American middle class by tanking the dollar and sending oil prices skyrocketing towards $200 , as part of the "post-industrial revolution" agreed upon by the Bilderberg Group. This would eviscerate the middle class and create a two-caste system based upon the Chinese model, where the super-rich live in opulence and the rest of the population are forced to struggle on the poverty line.

Meanwhile analysts at EconomicsBriefing.com have pointed out that while the UN is warning of ballooning food prices and the possibility of food riots , no one is saying or doing anything about the primary cause, US federal reserve encouraged, worldwide central bank monetary expansion.

Official Statement Confirms Detonations on 9/11

RINF Alternative News | November 1, 2007

Smoking gun testimony, demolition detonations reported by top brass in official statement

The rank of this witness is:
CAPTAIN KARIN DESHORE OF BATTALION 46

CAPTAIN KARIN DESHORE QUOTE :

�SOMEWHERE AROUND THE MIDDLE OF THE WORLD TRADE CENTER, THERE WAS THIS ORANGE AND RED FLASH COMING OUT.

�INITIALLY IT WAS JUST ONE FLASH. THEN THIS FLASH JUST KEPT POPPING ALL THE WAY AROUND THE BUILDING AND THAT BUILDING HAD STARTED TO EXPLODE. THE POPPING SOUND, AND WITH EACH POPPING SOUND IT WAS INITIALLY AN ORANGE AND THEN RED FLASH CAME OUT OF THE BUILDING AND THEN IT WOULD JUST GO ALL AROUND THE BUILDING ON BOTH SIDES AS FAR AS I COULD SEE.

�THESE POPPING SOUNDS AND THE EXPLOSIONS WERE GETTING BIGGER, GOING BOTH UP AND DOWN AND THEN ALL AROUND THE BUILDING. I WENT INSIDE AND TOLD EVERYBODY THAT THE OTHER BUILDING OR THERE WAS AN EXPLOSION OCCURRING UP THERE AND SAID THINK WE HAVE ANOTHER MAJOR EXPLOSION. I DONT KNOW IF WE ARE ALL GOING TO BE SAFE HERE.�

The second building was being demolished.

The complete interview will be published on RINF shortly.

"War Criminal" Ex-MI6 Head Dearlove Confronted At Event

Man who admitted "intelligence and facts were being fixed around the policy" of invading Iraq grilled on 7/7, Bilderberg membership, forced to leave after being called proxy mass murderer

Prison Planet | November 1, 2007
Paul Joseph Watson

Author of the infamous Downing Street Memo and ex-MI6 head Sir Richard Dearlove was confronted and branded a "war criminal" by audience members who attended his talk at the London School of Economics last night, before being hounded out of the building - but subsequent media coverage of the event completely failed to mention the controversy.

Ironically, during a lecture in which Dearlove pushed the notion of how the media should acquiesce to government demands in reporting aspects of sensitive stories, in their write-up of the talk , the BBC omitted any details of how Dearlove was intensively questioned and eventually forced to leave by members of We Are Change UK .

The discussion, entitled Can We Trust Journalists With Public Security? , was merely a platform for Dearlove to spew propaganda about non-existent weapons of mass destruction and how the public and the media need to fall in line and mute their dissent about the so-called "war on terror."

A topic certainly not on Dearlove's agenda was the fact that he authored the leaked Downing Street Memo, written nine months before hostilities began, in in which he admits that �the facts and intelligence� about WMD were being �fixed round the policy� of a pre-planned invasion of Iraq.

But the evening turned into a spectacle after Dearlove came under rapid fire questioning about his membership of the Bilderberg Group, the alleged 7/7 mastermind's status as an MI6 agent , and MI6's deliberate counter-terrorism failures.

Watch the video.

Dearlove refuses to answer any of the questions before struggling to explain away Bilderberg as "Erm, it's a, it's a conference, it's a gathering at which people discuss issues - rather like this."

The fact that Bilderberg is in reality a secret gathering of the global elite, completely closed to the public and the mass media, which is secured by armed guards and secret service personnel, at which a consensus for global policy is agreed upon, seems to contradict Dearlove's terse rebuttal.

After the speaking engagement, We Are Change UK members and former MI5 officer Annie Machon tried in vain to get Dearlove to answer their questions, before branding him a "liar," a "war criminal" and stating that he had the blood of over 600,000 dead Iraqis on his hands and was a "proxy mass murderer."

Dearlove was forced to scuttle out and leave the building as his lackeys tried to block the camera. "You dress it up however you want, it's a lie sir," shouts one We Are Change UK member as Dearlove exits.

"You will hang from the gallows," calls out another, "The people will not stand for it."