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"Dollar is crashing"says Chavez.

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gnfin View Drop Down
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    Posted: November 19 2007 at 10:17am
    Chavez says "empire of dollar is crashing"
By Parisa Hafezi Reuters - 2 hours 59 minutes agoTEHRAN (Reuters) - Venezuelan President Hugo Chavez said on Monday the "empire of the dollar is crashing", a day after his country and anti-U.S. ally Iran advocated action over the weakening U.S. currency during an OPEC summit in Riyadh.

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Chavez, who on Saturday said oil prices could double to $200 per (97 pounds) barrel if the United States attacks Iran over its disputed atomic ambitions, spoke to reporters after talks with his Iranian counterpart Mahmoud Ahmadinejad in Tehran.

The two leaders agreed to set up a joint Iranian-Venezuelan bank and also signed deals to boost cooperation in the oil, petrochemical and industry sectors, Iranian media reported without giving details about the accords.

Ahmadinejad -- whose country is under banking and other international sanctions over its nuclear programme -- on Sunday called the U.S. dollar a "worthless piece of paper" and Chavez took a similar line on Monday.

"Soon we will not talk about dollars because the dollar is falling in value and the empire of the dollar is crashing," Chavez said in comments translated into Farsi from Spanish.

"Naturally, by the crash of the dollar, America's empire will crash," Chavez said at a joint news conference with Ahmadinejad. The two presidents share the same viewpoint in denouncing U.S. influence in the world.

The final statement of the oil cartel's November 17-18 summit did not include any reference to the falling dollar, in an apparent victory for U.S.-allied moderates led by Saudi Arabia.

But Iran and Venezuela made clear before and after the summit that they would press for action, which could include pricing oil in a basket of currencies.

BANKING SANCTIONS

A fall in the value of the U.S. dollar on global markets helped fuel oil's rally to a record $98.62 on November 7 but it has also eroded the purchasing power of OPEC members.

Fears the United States could attack Iran -- over a nuclear energy programme Washington says is a cover for seeking bombs -- have also contributed to dearer crude. Tehran denies the charge.

Chavez last visited Iran in July when he and Ahmadinejad launched construction of a joint petrochemical plant in a bid to strengthen an "axis of unity" between their nations.

"We are determined to expand our bilateral and international cooperation as much as possible and to defend our nations' rights," Ahmadinejad said on Monday.

"Today we reached very important and constructive agreements which will accelerate the two countries' cooperation," Iran's state broadcaster quoted him as saying.

Chavez said he believed other countries would join the joint bank. The announcement comes after many Western banks, under U.S. pressure, either pulled out or reduced business with Iran, which is under U.N. sanctions over its refusal to suspend its most sensitive nuclear work.

Iranian leaders have shrugged off the impact of sanctions but economic analysts say they are hurting badly needed investment in the country, which is struggling with double-digit inflation and jobless rates.

(Reporting by Parisa Hafezi; Writing by Fredrik Dahl; Editing by Ron Askew
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: November 19 2007 at 6:15pm

"Dollar is crashing

Values on Rise for Rare Collectibles


http://www.nytimes.com/2007/11/18/us/18stamps.html?ref=yourmoney
so the counter is too buy rare stamps coins? i have my share of them bought them cheap years ago..



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Albert View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Albert Quote  Post ReplyReply Direct Link To This Post Posted: November 19 2007 at 6:28pm

Cole, you still have that stamp collection?  I'm surprised that I still have my football card collection from 1977, lol.   

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: November 19 2007 at 9:35pm
yeah Albert 1977 was a slow year..

1. 1957 Topps Johnny Unitas #138

2. 1981 Topps Joe Montana #216

3. 1965 Topps Joe Nameth #122

4. 1958 Topps Jim Brown #62

5. 1976 Topps Walter Payton #148

6. 1957 Topps Bart Starr #119

7. 1984 Topps Dan Marino #123

8. 1986 Topps Jerry Rice #161

9. 1971 Topps Terry Bradshaw #156

10. 1984 Topps John Elway #63

11. 1957 Topps Paul Hornung #151

12. 1972 Topps Roger Staubach #200

13. 1970 Topps O.J. Simpson #90

14. 1962 Topps Fran Tarkenton #90

15. 1962 Topps Mike Ditka #17

16. 1965 Topps Fred Biletnikoff #133

17. 1973 Topps Franco Harris #89

18. 1977 Topps Steve Largent #177

19. 1969 Topps Brian Piccolo #26

20. 1988 Topps Bo Jackson #327

21. 1989 Topps Traded Barry Sanders
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: November 19 2007 at 9:41pm
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littlemama2 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote littlemama2 Quote  Post ReplyReply Direct Link To This Post Posted: November 20 2007 at 11:37am
Another article related to this CHavez and his rantings..........
The crazy duo are really serious that they can bring
the United States down. Read Article Below. How afaid should we be?
If the dollar actually collapsed, what are the impications for us as nation?
I know it is not in the best interests for the World Economy to let this happen but What If?


the The falling U.S. dollar is a prelude to the end of American imperialism, Chavez and Ahmadinejad say
The Associated PressPublished: November 19, 2007


TEHRAN, Iran: The leaders of Venezuela and Iran on Monday boasted that together they would be victorious over the United States, saying the fall of the U.S. dollar was a prelude to the end of American dominance in the world.

Venezuelan President Hugo Chavez paid a visit to his Iranian counterpart Mahmoud Ahmadinejad in a show of the strength of their friendship, bound by opposition to Washington. The visit came after the firebrand duo unsuccessfully tried over the weekend to push OPEC away from trading in the slumping greenback.

The OPEC summit, in Riyadh, showed the limits of their alliance — their proposals were overruled by other cartel members, led by Saudi Arabia. But it also showed their potential for stirring up problems for the U.S. and its allies.

The alliance between Chavez and Ahmadinejad has blossomed with several exchanged visits — Monday's was Chavez's fourth time in Tehran in two years — a string of technical agreements and a torrent of rhetoric presenting their two countries as an example of how smaller nations can stand up to the superpower.

"Here are two brother countries, united like a single fist," Chavez said upon his arrival in Tehran, according to Venezuela's state-run Bolivarian News Agency.


"God willing, with the fall of the dollar, the deviant U.S. imperialism will fall as soon as possible too," Chavez said after a two-hour closed meeting with Ahmadinejad, the Iranian state news agency IRNA reported.

"We must ask God to help us accelerate the end of the perverse empire of the United States," Chavez also told Venezuela's state TV, sitting next to Ahmadinejad.

As the dollar weakens, oil prices have reached a record high of US$100 per barrel. But Chavez warned over the weekend at the Organization of Petroleum Exporting Countries that prices would more than double to US$200 if the U.S. attacks Iran or Venezuela.

"The U.S. empire is coming down," Chavez told Venezuelan TV, calling the euro a better option and saying Latin American nations are also considering a common currency.

Leftist Chavez is a fierce enemy of U.S. President George W. Bush, and Iran's Islamic government is in a bitter standoff with Washington over Tehran's nuclear program. The United States accuses Iran of seeking to develop a nuclear weapon, a claim Tehran denies, and Iran has come under U.N. sanctions for refusing to suspend uranium enrichment.

Ahmadinejad backed his "dear brother" Chavez in their joint plight against the Bush administration.

"We have common viewpoints and we will stand by each other until we capture the high peaks. God is with us and victory is awaiting us," Ahmadinejad was quoted as saying by IRNA. He said he and Chavez would stick together to defend their "nations and ideals to the end."

During the weekend oil summit, Iran and Venezuela proposed that OPEC begins pricing its oil in a basket of currencies, rather than just the dollar, and wanted the summit to specifically express concern over the dollar's slide in its final statement.

U.S. ally Saudi Arabia blocked the move, and the Saudi foreign minister cautioned that even talking publicly about the currency's decline could further hurt its value. But in an apparent compromise, the organization did direct its finance ministers to study the issue of the dollar.

Chavez repeated his warnings that attacking Iran would further increase oil prices. "It's very important that they leave us in peace, the major oil-producing countries," he said.

"If it occurs to Bush to invade Iran, I'm sure the Iranians will resist, and they aren't going to allow them to take away their oil, just as we Venezuelans wouldn't allow it," Chavez said.

Arriving Monday in Tehran for an hours-long visit, Chavez repeated his support to Iran's civilian nuclear program, poking fun at U.S. suspicions it is a cover to produce an atomic bomb.

"We demand respect for the sovereignty of Iran," Chavez also told Venezuela's TV.

"Iran has a right to have nuclear energy for peaceful uses," he said.

The two presidents signed four memorandums of understanding on Monday to create a joint bank, a fund, an oil industry technical training scheme and an industrial agreement, Iranian state television reported. Chavez said these deals came in addition to 186 previous agreements, which represent a total of US$4.6 billion in investment.

But, "soon we won't be talking in dollars," Chavez added, heading to an official farewell ceremony before leaving Iran.

On the previous Chavez visit in July, the two countries broke ground on construction of a jointly owned petrochemical complex in Iran, with 51 percent of it in Iranian ownership and 49 percent to be owned by Venezuela. The two also began construction of a second petrochemical complex in Venezuela, at a total combined cost of US$1.4 billion (€956 million).

   
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4=laro View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote 4=laro Quote  Post ReplyReply Direct Link To This Post Posted: November 20 2007 at 1:24pm
Seems to me that it's a meeting of two dummies.  If the US falls, who do they think is going to bolster up their bank accounts if the US doesn't buy their products?   And another thought, do they have a waiting line of people wanting to immigrate to their countries?
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Boondocker View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Boondocker Quote  Post ReplyReply Direct Link To This Post Posted: November 20 2007 at 4:40pm
Every nation's banks now hedge their reserves with American Greenbacks, even a once foot dragging China.

The value of currencies, American dollars particularly, only matter as long as all the players in the economic game don't leave the table simultaneously.

It's more or less Russian Roulette. No nation can afford to leave first and most can't afford to at all. Those that can are gambling on their environmental wealth and the ability to sell it.. again, in a stable market which hedges itself on the prosperity and stability of the US.

Catch 22.

Those who have nothing to lose can afford to gamble what they have and be spotted advances at the table by charity organizations, nefarious trades, etc.

Add as much spin as you like on it. There are only two future modes for the economic world.

Extremely stable or defunct and picking up it's teeth in a tin cup.

Make no mistake about it. We're in WW3 at this very moment. The battles are being fought on paper, circuits, and sentiments.

The troops are just a sacrifical diversion, a trojan horse for our retinas.


At least to my eyes. Yours may see something entirely different.







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Albert View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Albert Quote  Post ReplyReply Direct Link To This Post Posted: November 20 2007 at 6:09pm
Originally posted by coleyounger1 coleyounger1 wrote:

yeah Albert 1977 was a slow year..

1. 1957 Topps Johnny Unitas #138

2. 1981 Topps Joe Montana #216

3. 1965 Topps Joe Nameth #122

4. 1958 Topps Jim Brown #62

5. 1976 Topps Walter Payton #148

6. 1957 Topps Bart Starr #119

7. 1984 Topps Dan Marino #123

8. 1986 Topps Jerry Rice #161

9. 1971 Topps Terry Bradshaw #156

10. 1984 Topps John Elway #63

11. 1957 Topps Paul Hornung #151

12. 1972 Topps Roger Staubach #200

13. 1970 Topps O.J. Simpson #90

14. 1962 Topps Fran Tarkenton #90

15. 1962 Topps Mike Ditka #17

16. 1965 Topps Fred Biletnikoff #133

17. 1973 Topps Franco Harris #89

18. 1977 Topps Steve Largent #177

19. 1969 Topps Brian Piccolo #26

20. 1988 Topps Bo Jackson #327

21. 1989 Topps Traded Barry Sanders
 
 
I have a few of them.  I have anyone who played in 77 & 78.   
 
Ahh #19....   I actually watched Brian's Song last night.  I was almost born at a Chicago Bear game because my mother loved to watch Gale Sayers play and she didn't want to miss a local game. LOL 
 
 
 
 
 
 
 
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