“Nines” sent us this: Another Friday, Another Bank Collapse [1].
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You probably saw this announcement last month: Bush Calls Economic Summit for November 15 [2]. This could portend a new financial order announcement by the G20 [3], either at this meeting or at their next one, early in 2009. I suspect that the US Dollar will lose its primacy as a reserve currency. As the Chartist Gnome [4] told me “this will likely go far beyond ‘a new Bretton Woods.'” A country with these numbers [5], and these numbers [6], and these numbers [7], and these numbers [8] cannot negotiate from a position of strength. The handwriting is on the wall for the US Dollar. Get out of your US Dollar-denominated investments, ASAP! Invest instead in tangibles.
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Tom, who operates CampingSurvival.com [9] mentioned his new educational site: Urban Survival Stories [10]. It looks interesting.
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Bob sent us this article: Dems Target Private Retirement Accounts: Democratic leaders in the U.S. House discuss confiscating 401(k)s, IRAs [11]
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More news and commentary from our Economatrix: Running On Fumes: GM Could Run Out Of Cash [12] — Jobless Rate Bolts to 14-Year High [13] — Main Street Sucked into GMAC Junk Bonds [14] — Financial Meltdown Worse to Come [15] — Across Economy, the News Just Gets Worse [16] — How to Survive the Coming US Dollar Collapse [17] — First Full-Year Slump Since 1940s, Says IMF [18] — Ford Posts $129 Million Loss; Will Cut More Jobs [19] — Cash or Gold? [20] — Just Three ‘Superbanks’ Now Dominate Industry [21]