Posted by: bigtalksingapore | December 18, 2008

US Currency is dropping like Bird Shits !

US Currency is dropping like Bird Shit (Attachment #11) ever since its interest rate drop to virtually zero (Attachment #10)

I hate to say this, but I’ve lose my confidence in US currency.
At least for the next one to two years.
So, I’ve pull out my US Fixed Deposit and cut my losses.

Anyone holding on to US Currency would need to watch the situation carefully.

In my opinion, US currency is now like Bird Shit.
And I’m basing my judgment on the following …

  1. US National Debt has broke the US$10 Trillion mark (Attachment #1).
    Even their National Debt clock run out of digit !
  2. Stock market are plunging all over the world (Attachment #2).
  3. US Credit card bad loan has written off S$31 billion (Attachment #3).
    They estimate that another bad loan of US$55 billion coming soon.
  4. Wall street is retrenching people at around 70,000 (Attachment #4).
    This is just a reflection of more to come in other part of US.
  5. One more bubble is going to burst in US (Attachment #5).
    They call it credit default swap which is like a betting system on the mortgage loan.
    It seem that they managed to package it into some sort of securities and sold all over the world.
    Right, sound familar ? Reminded me of Sub-Prime loan.
    And guess what, nobody know how big it is.
  6. Remember the US$700 billion that Bush Government promise ?
    They already used up US$335 billion (Attachment #6).
    How many month ago was that ? I can count with my five fingers.
  7. US Big three car makers are on the brink of collapse and US Government is in a dilemma (Attachment #7).
    If these three fall, many more will fall.
    If US Government bail them out, where are they going to get the money ? Print more money ?
  8. All the skeletons are coming out of their closet.
    And who is this fellow call Madoff (Pronounced like “May”-“Off”, not “Mad”-“Off”, weird) ?
    This one person can create a US$50 billion fraud (Attachment #8) !
    The bank system is really like shit.
  9. Another one more  US mortgage bubble is going to burst (Attachment #9).
    How come so many bubble in US ?
    They call it “Alt-A” and “option ARM.”
    What it mean is that many people took low interest home loan during the good time.
    But there’s no free lunch cost the low interest rate is only for the first few years.
    After that, the interest is going to jump forward like frog.
    In  these economic situation where job losses is so common, many people are going to default and lose their home.

Attachment #1: My Paper, 7 Oct 2008, Page B620081007f1_usdebthitus10trillion_mypaperpgb6


Attachment #2: My Paper, 29 Oct 2008, Page B1


Attachment #3: My Paper, 30 Oct 2008, Page A10


Attachment #4: My Paper, 11 Nov 2008, Page B3


Attachment #5: CBS News, 24 Nov 2008 (Link)


Attachment #6: My Paper, 10 Dec 2008, Page  B7


Attachment #7: My Paper, 15 Dec 2008, Page A9


Attachment #8: Today, 15 Dec 2008, Page B3


Attachment #9: CBS News (Link)

Attachment #10: US Fixed Deposit Rate, From May Bank


Attachment #11:  US Currency Depreciation, From POEM


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