Woah

[Faust]

in some chan they where planning an operation to fuck with the global economics. The plan was that if A LOT of people post the same false news over and over again in different places, so that it would reach the news there would mayb be a big collapse. This might be them, but if it's really real than I can't wait to see how the USA reacts.

They have no access to anything worth reading, it would go unnoticed.

[Cain]

I doubt 4chan were involved.  This was by Robert Fisk, a veteran reporter who actually lives in the Middle East, and has done for a long time.  He doesn't need anonymous script-kiddies, he has informants all over the place, and access to some fairly influential people. 

[Elder Iptuous]

Cain, have you found any follow up on this story?
I'm assuming that they would be discussing the use of SDRs as a replacement?

[Prelate Diogenes Shandor]

Markets have reacted as if true, it seems....
dollar crapout.
my gold is shining though 
up to 1042.... new all-time high in nominal dollars.

Ah yes. Nothing is more dependable than humankind's irrational love for shiny things...

[Golden Applesauce]

Markets have reacted as if true, it seems....
dollar crapout.
my gold is shining though 
up to 1042.... new all-time high in nominal dollars.

Ah yes. Nothing is more dependable than humankind's irrational love for shiny things...

The really funny thing about that is that it's true.

[Cain]

Cain, have you found any follow up on this story?
I'm assuming that they would be discussing the use of SDRs as a replacement?

All I've seen so far is a lot of people flapping their hands and claiming nothing is happening.  Quite vehemently, I might add, which makes me doubt their sincerity, but its hard to say what is going on.  I haven't heard one way or the other about SDR's, but since they involve the dollar and sterling, but don't involve many important secondary currencies, I think it unlikely.

Unless, of course, the composition of SDRs are somehow changed in the near future to take into account these factors.  One sign would be trying to draw in a nation with large platinum and gold reserves to join this club - if the club named by Fisk exists at all.  The majority of those nations don't have reserves to match the USA, and my guess is that at the very least, they'd try to reconfigure SDR's to include the Yuan and bring in a gold rich nation, possibly from Africa, where China has political and economic clout.

[Elder Iptuous]

All I've seen so far is a lot of people flapping their hands and claiming nothing is happening.  Quite vehemently, I might add, which makes me doubt their sincerity, but its hard to say what is going on.  I haven't heard one way or the other about SDR's, but since they involve the dollar and sterling, but don't involve many important secondary currencies, I think it unlikely.

Unless, of course, the composition of SDRs are somehow changed in the near future to take into account these factors.  One sign would be trying to draw in a nation with large platinum and gold reserves to join this club - if the club named by Fisk exists at all.  The majority of those nations don't have reserves to match the USA, and my guess is that at the very least, they'd try to reconfigure SDR's to include the Yuan and bring in a gold rich nation, possibly from Africa, where China has political and economic clout.

the composition of SDRs certainly isnt fixed and if us/uk trade craps out, their currencies would (theoretically) be reduced concomitantly.  as far as large monetary metal holders goes, both China and Russia have been buying like mad for several years. (with china now having state sponsored advertisements to encourage private ownership, and state issued silver bars available.  a hell of a turn around since it wasn't that long ago illegal to do such over there...)

btw, did you know that us customs forms now have declaration denominated in either dollars or SDRs?! 
http://www.isdntek.com/postalcustoms.htm
i didn't know that...

[Precious Moments Zalgo]

All of my savings are in US Dollars, and I want to diversify.  I've been trying to open a Euro-denominated investment account, but due to complex reporting requirements from the IRS, the SEC, and the Patriot Act, I'm having a devil of a time finding a European institution willing to deal with a small investor like me.  I don't understand how our government is able to dictate reporting requirements to European financial institutions, but there you have it.

As far as I can tell, the only thing available to me are dollar-denominated funds that invest in European securities.

[fomenter]

i wanted to try that myself a few years ago but never found one, i think the us gov doesn't want its citizens to have money in foreign currency bank accounts...
if you find an easy way i would like to hear about it..

[Precious Moments Zalgo]

I found several banks in Luxembourg that allow one to open an account online from anywhere in the world -- anywhere except the US, that is.

[fomenter]

you could probably arrange something on a trip abroad with a friend or relative providing an address, not sure about how legal it is though