Wednesday, July 16, 2008

The US Treasury may have just days to act before foreign patience snaps

US faces global funding crisis, warns Merrill Lynch

Merrill Lynch has warned that the United States could face a foreign "financing crisis" within months as the full consequences of the Fannie Mae and Freddie Mac mortgage debacle spread through the world.

Posted by sold 2 rent 1 @ 09:16 AM (1072 views)
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13 thoughts on “The US Treasury may have just days to act before foreign patience snaps

  • sold 2 rent 1 says:

    “The country depends on Asian, Russian and Middle Eastern investors to fund much of its $700bn (£350bn) current account deficit, leaving it far more vulnerable to a collapse of confidence than Japan in the early 1990s after the Nikkei bubble burst. Britain and other Anglo-Saxon deficit states could face a similar retreat by foreign investors.”

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  • sold 2 rent 1 says:

    The oil price dropped $9 very fast yesterday to 136 and then back up to 138

    I was wrong on gold reaching $1500 by the end of June, the bubble that happened was in oil to $147

    The 6 July has shown that the power elite have run out of power.
    They cannot control the oil price upwards any more.

    As Ambrose points out oil producing counties buy large western debt.
    If oil prices fall fast the major oil producing countries won’t be shunning western debt because of lack of patience; they will shun foreign debt because they have no revenue to buy

    The bleak picture Ambrose paints is without any view of “oil price crash”.

    If this happens the situation is mega dire.
    The next 2 weeks are critical.

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  • current accounts did you say? only one step into reality

    184 Italy $ -47,250,000,000 2007 est.
    185 Australia $ -56,200,000,000 2007 est.
    186 United Kingdom $ -136,200,000,000 2007 est.
    187 Spain $ -145,600,000,000 2007 est.
    188 United States $ -738,600,000,000 2007 est.

    1 China $ 360,700,000,000 2007 est.
    2 Japan $ 212,800,000,000 2007 est.
    3 Germany $ 185,000,000,000 2007 est.
    4 Saudi Arabia $ 100,800,000,000 2007 est.
    5 Russia $ 76,600,000,000 2007 est

    from CIA world fact book – also on this website’s resources page http://www.housepricecrash.co.uk/resources.php

    https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html

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  • Can there actually be a situation when a country turns down Americas offer of dollars for the oil they are supplying and instead asks for payment in Gold or another currency ?

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  • malct

    so if they all clubbed together they could just about buy America. Hmm that puts them all in the doo doos then if they’ve let us all run up that much debt.

    If we had a small amount of debt we could be put through a few years of hardship while we paid it back.

    We all owe so much no-one got a hope of getting it back.

    Now I see why Gordon Brown is so keen to write off third world debt, he actually meant us aswell.

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  • sold 2 rent 1 says:

    str 2007,

    “Can there actually be a situation when a country turns down Americas offer of dollars for the oil they are supplying and instead asks for payment in Gold or another currency ?”

    This is how the the USD came off the gold standard in 1971.
    Europeans banks starting asking for payment in gold instead of USD.

    The end of the Bretton Woods system
    http://en.wikipedia.org/wiki/Nixon_Shock

    There hasn’t been an audit of the Fort Knox gold in decades, so the Fort Knox Mint police may actually serve no useful purpose. If there hasn’t been a recent audit of the Fort Knox stolen gold supply, how do we know its there? We don’t, but they tell us that we should just shut up and trust the criminally insane people who run our government.

    So to sum up. The US is doomed. Worthless USD. No Gold. Sell. Sell Sell.

    Fifth Night destruction – come on.

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  • A quick calculation tells me that to run that level of debt in the uk must be costing about £125 per head of population at 5% per annum.

    That’s £500 per family household.

    Germany has more in the bank than we have in debt.

    So Germans must be roughly £250-300 better off per head of population than us.

    And they’ve got cheaper houses and can make half decent cars.

    I’m ashamed to be English at times and this is one of those times.

    Someone correct me and tell me I’ve got it all wrong.

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  • Thats the scariest bank statement I’ve ever seen. It’s the stuff world wars are made of. The US is desperate. The UK is desperate. Spain is deperate. Strange how those 3 countries were the biggest backers of the “war on terror”…

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  • surely current accounts are only part of the picture.

    How about national debts?

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  • probably a silly question

    Has anyone totalled those ‘with’ money and compared it to those ‘without’ money?

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  • Not entirely on topic but nevertheless – do you recall one of the reactions by the US and UK governments to the 911 attacks was to keep interest rates low as they didn’t want an economic downturn to appear to be a victory for the terrorists? If the terrorists had the capability (another issue entirely!) I wonder what effect a major terrorist attack would have now. It could potentially finish off the US economy.

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  • brass in pocket? (Pretenders) confined to history books.

    More caustic than an Asian Haarp?

    MONDEX spent more than $1.5 million dollars in research just to find the best place to insert the “Bio-chip” into the human body. They found only two satisfactory and efficient places – THE HEAD, underneath the scalp and the backside of the hand specifically … THE RIGHT HAND!

    Revelation 13:16, 17

    (v16) He causes all, both great and small, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, (v.17) and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.
    Revelation 13:16,17

    How much of a coincidence is that?

    Notice MONDEX means “money in you hand”.

    MON = MONetary

    DEX = DEXter = Right-hand side.

    links with UK newspaper headline on database

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