Results 1 to 3 of 3

Thread: Rumor going around

  1. #1
    God/dess Deogol's Avatar
    Joined
    Dec 2003
    Posts
    5,493
    Thanks
    120
    Thanked 50 Times in 35 Posts

    Default Rumor going around

    That $700B isn't for our banks, but for foreign investors/banks so they will keep on investing.

    Sooner (and not later) I suspect we are going to be walking up to our branch and seeing "The Bank Of His Highness Of Dubai" sign being put up. Then, we pretty much know where we stand in this world.

  2. #2
    Banned Eric Stoner's Avatar
    Joined
    Oct 2006
    Location
    NYC
    Posts
    5,150
    Thanks
    1,261
    Thanked 1,430 Times in 888 Posts

    Default Re: Rumor going around

    Quote Originally Posted by Deogol View Post
    That $700B isn't for our banks, but for foreign investors/banks so they will keep on investing.

    Sooner (and not later) I suspect we are going to be walking up to our branch and seeing "The Bank Of His Highness Of Dubai" sign being put up. Then, we pretty much know where we stand in this world.
    That's right. A healthy chunk will go to purchase "assets" held by foreign banks.
    One of a number of reasons I opposed this plan.

  3. #3
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Rumor going around

    "The Bank Of His Highness Of Dubai" sign being put up. Then, we pretty much know where we stand in this world.
    He already owns a big chunk of CitiGroup ... no wait that was a Saudi Prince !


    yeah I don't want to think about what will happen to the US dollar exchange rate (and the US dollar prices of gasoline / food / imported items of all sorts) if even a small portion of foreign owned US Treasuries wind up being sold off ... with the proceeds of the sale settling in yen or yuan or euros or dinars or rubles. If such a sell-a-thon ever gets started, it will bring on a massive 'race to the exits' as foreign Treasury bond owners try to sell as fast as possible before the US dollar exchange rate against their home currency falls any farther than it already has !!! If that happens, you're talking about $10 a gallon gasoline, a doubling of US grocery and utility bills etc. in a matter of weeks.

    ~
    Last edited by Melonie; 10-04-2008 at 02:06 PM.

Similar Threads

  1. so is it just a rumor that..
    By catseyes in forum Stripping (was Stripping General)
    Replies: 23
    Last Post: 03-31-2010, 03:12 PM
  2. A rumor about the VIX
    By Adelina in forum Dollar Den
    Replies: 1
    Last Post: 06-17-2009, 03:36 AM
  3. New Rove Rumor (and rumor only so far)
    By threlayer in forum Political Poo
    Replies: 9
    Last Post: 08-02-2005, 11:11 AM
  4. Start a Rumor!
    By MojoJojo in forum The Lounge
    Replies: 8
    Last Post: 02-25-2005, 05:00 PM
  5. The Rumor Mill
    By MojoJojo in forum The Lounge
    Replies: 24
    Last Post: 01-08-2005, 10:41 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •