Posted by: Nick Poma | November 8, 2007

Dollar is Crashing, So why only O.J. Simpson News?

Dollar Crash and Burn

            With everything going on in the world today, I find it hard to believe that the major news channels have nothing better to present than the trial of O.J. Simpson, again. The world is going through turmoil, the dollar is falling, there are wars and conflicts all over the globe, but this is the news the American public is being fed by the corporate owned media conglomerates.

            O.J. Simpson is currently facing felony charges involving armed robbery and kidnapping. All of this is apparently over sports memorabilia which the ex-football star claims was stolen from him. Simpson, with a couple of other men burst into a casino hotel room and at gunpoint ordered that the alleged victims return the merchandise, Mr. Simpson himself was not brandishing a firearm. The kidnapping charge was instituted because Mr. Simpson allegedly exclaimed that none of the victims be allowed to leave the room. Today was the opening testimony and started out with one of the alleged victims taking the stand and relating his experiences during the event.

            Okay, O.J Simpson news is done. Now, you know all that there is to know about the incident and today’s proceedings, and we should be able to move on. So, what can we fill the other 23 hours, 59 minutes and 30 seconds of the day with? How about we discuss the freefall of the U.S. Dollar on the world market and how it is now falling to a point where it will soon be equal to the Chinese Yen.

            The Euro has already out distanced the Dollar and it is not likely that anything will be done to change its course. Now, the United States is facing increasing economic fallout around the world due to rumors that several countries will be dropping the Dollar and moving to the Euro. Countries such as China, Saudi Arabia, Iran, and many other Asian, and Middle Eastern countries, are rumored to be moving away from the Dollar due to the financial crisis currently facing the United States.

            In times past, the countries which supported the dollar would follow the Federal Reserve’s lead and drop interest rates, but that did not happen this time and that has many investors and Wall Street traders very scared. The news is being played down so as to not start a panic, but this kind of news can only be held back so for so long.

            The most unfortunate side-effect of keeping this news quiet is that it only serves to hurt the small investor including those with 401Ks. The Wall Street insiders know exactly what is coming down the pike, but if they can suppress the news from the general public, then they can transfer all of the negative effects to them and possibly even come out ahead in the end. Much like the Enron scandal, we found that the people with inside knowledge actually encouraged people to invest in the company, even though they were pulling out their investments, and were well aware that the company was going to fail.

            This is exactly what is happening now, the investment consultants are telling people that the market news is bad, but to go ahead and invest anyway. The thing about these guys is that they have the inside information and they can lead the public to invest anyway they want, and then if they benefit from it, they can just feign being shrewd investors.

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