If it does happen, we'll be dead by then.
Shortened my name, by the way, to the more apt kenyainvestor

Why behold politicians like gods? Why behold money masters? Why behold anyone or society institutions that supresses the will of mankind?

I have zero respect for any of the above and I offer no apologies for the same.

I have once before given an analogy to being a visitor from another world that is interested with how our world system works i.e. politics & finance. Would you have a nice report when you see how the citizens are taken advantage of?

All this will change in a generation and you'll be around to witness it. Watch middle east

Soros plan B for Europe?

In case the EU leaders didn’t know it, Mr. Soros is here to let them know it’s time for the eurozone to be “ringfenced,” i.e. insure the core remains stable despite the fact it may be too late for some countries on the periphery. “Gee ... thank you, Captain Obvious!” is what I would assume the response from European finance ministers might be to those comments.

Of course this ring-fencing would require more taxpayer money with Germany and Finland and Netherlands making it more costly for them to borrow in the open market thanks to the necessity of a common European bond market. This of course also would require a euro wide Treasury as in the U.S.

But seriously, assuming anyone can really take these politicos seriously, the question is: Is it too late? Have the taxpayers who are footing these bailout bills, and will suffer from any form of transfer union, had enough already?

I would suspect that many taxpayers wish they were all Brits now, because of the fact that the UK is part of the EU but is not tied to the currency union. They are free from the single currency straight jacket and despite the problems in the UK, there is some flexibility left instead of subsidy upon subsidy upon subsidy to others whose ability to produce wealth is questionable given said straight jacket. The UK controls its own monetary policy. If European citizens are tired of laboring under effective German monetary policy, just wait till they get a look at transfer union, would be my guess.

I argue that a country like Switzerland, no EU membership and its own currency and monetary policy is doing okay with exports to the eurozone. The scare tactic of disaster if anyone leaves the Union doesn’t seem to hold up empirically. A mess it will be, but a country’s competitiveness against its competitors is what creates wealth; a condition badly lacking in the current union. Maybe more control of the union by Germany will do the trick?

-Jack Crooks, Black Swan Capital LLC, President and Chief Trading Officer.

Chinese GDP grows @ 9.5% Q on Q in Q2 giving a lift to Asian bourses this morning. I am amazed at how fast these guys are able to churn out their stats. I am just seeing Kenya B.o.P statistics for Jan 2011 being reported now!

Following yesterday’s Dollar strength across the board and major Euro weakness, markets started to recover as investors recovered earlier losses but news of Moody’s downgrading Ireland to Junk added further pressure on the currency and health of the EU region as the nation joins Greece and Portugal on junk rating with Moody’s citing probability that Ireland will need additional official financing and for investors to share in losses before it can return to the private market to borrow with the outlook set to negative.

FOMC minutes of the meeting showed policy makers were divided on whether additional monetary stimulus will be needed if the outlook for the economy remains weak. There are speculations of introducing QE3 which could further weaken the Dollar against the Euro and the Yen.

news.ac-makets.com

Dollar is lower after Bernanke said that the Fed was ready to respond to economic weakness.

So what's happening overnight, but early morning here in asia... Well Moodys now puts US AAA rating up next for downgrade. Kisa na maana, that debt ceiling MUST be raised. If congress wont play ball, banksters will unleash the sell missile across board...
That sees the US stocks & dollar tank across board. With all the action packed moves since July 5th, I've forgotten to sleep!

Gold is now at all time highs Vs the dollar, euro & pound. Is gold money

http://online.wsj.com/ar...CO-20110713-715131.html