Wednesday, December 17, 2014

Public Banksters - Part XI (DECEMBER UPDATE)


Eight months ago unregistered lobbyist for the Public Banking Instititute Gwendolyn Hallsmith boasted in a tweet that
"The Day of the Dollar is probably over. Hold on to your hats."
She based her insight on an article from the website, a site well known for its anti-Americanism, anti-Semitism and promotion of Holocaust denialism (and also, coincidentally, a site where Vermont secession flack Greg Guma publishes). Hallsmith wishes for the demise of the dollar in favor of the ruble. Well, that wasn't even remotely true when she promoted the idea then and it's even less true (if possible) today. Today, due to the free fall of the ruble, Russians are investing and converting their remaining, increasingly worthless rubles into imported refrigerators, XBoxes, Apple products, etc., all of which are not accepting rubles for purchases but are insisting on real currencies like dollars and euros only for the import purchase transactions. When Hallsmith was making her prediction of the imminent death of the dollar against the ruble via her Russian source, the ruble was trading at an all time high for the dollar of approximately 36 rubles per dollar (against a low of.93 rubles per dollar in 1993). This month the dollar doubled its value by grabbing 72.45 rubles per dollar. Hallsmith proved her incompetence to provide economic advice and observations to Vermonters eight months ago; her degree of stoopid is twice as true today.
Related posts:
Public Banksters - Part XI
Public Banksters - Part XI (UPDATE)
UPDATE DECEMBER 18, 5:30 PM General Motors, Audi, Land Rover and Apple have temporarily suspended sales inside Russia. Snork!

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