American Embassies Urged to Stockpile Local Currencies

'Some U.S. embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Some embassies are being sent enormous amounts of U.S. cash to purchase currencies from those governments, quietly. But not pound sterling. Inside the State Dept., there is a sense of sadness and foreboding that 'something' is about to happen ... within 180 days, but could be 120-150 days.'


http://www.washingtonsblog.com/2009/07/foreign-embassies-urged-to-stockpile.html

http://www.marketwatch.com/story/schultz-paints-bleak-picture-of-future

I don't think having massive amounts of money will protect you for whatever is coming.

What they anticipate is the total collapse of the U.S. dollar and that would cause them and their Embassies to be destitute so buy foreign cash reserves now in all countries containing a U.S. embassy and then they remain functional and also because they are doing this behind their citizens back the value of the dollar will not dip to much till they decide to pull the plug because your not exchanging american currency for say Euros and thus driving the Euro upwards your spreading it over say 50 countries so you won`t see the swing as badly in the dollar. I think they article also said to not but Pound Sterling sounds like a free fall for Britain and American currencies

"Another FDR-style 'bank holiday' of indefinite length, perhaps soon, to let the insiders sort out the bank mess, which (despite their rosy propaganda campaign) is getting more out of their control every day.
Insiders want to impose new bank rules. Widespread nationalization could result, already underway.

It could also lead to a formal U.S. dollar devaluation, as FDR did by revaluing gold (and then confiscating it)."
*****

I always knew why they pushed to buy gold.....so that they can take it from you.

But..
Pre-1933 U.S. Gold coins are exempt from confiscation as “collector coins.”
Rare Coins are Private, Non-Reportable - Sales of U.S. rare coins are non-reportable.

Most modern issue bullion coins like Krugerrands and Canadian Maple Leafs can be confiscated under U.S. laws still on the books.

120-150 days is, in my opinion an over estimate and unless the embassies act very soon then they will be sorry they didnt.

I think that the final stages of global economic meltdown will begin towards the end of September. I have stated this before and I will stick by that statement.

A..

World Prepares to Dump the Dollar


What do China, India, Brazil, Russia, France and Germany have in common? These countries most often can’t agree on anything. But they are united in one strange—and ominous—way. They blame the United States for wrecking the global economy. And they think the dollar is the wrecking ball.

One rock-solid, foundational belief underpins almost all economic theory in America: faith in the dollar’s unassailable status as the world’s reserve currency. Foreigners hold so many dollars that they can’t afford to stop buying them, the theory goes. Therefore the dollar’s status as the world’s reserve currency is sound. But the dollar is now coming under a concentrated attack. Are American economists about to get schooled?

Has a dollar-killer been minted?Angela Merkel summed up the dollar-skeptic viewpoint last year. “Excessively cheap money in the U.S. was a driver of today’s crisis,” she told the German parliament. And America’s solution—even more cheap money—was just setting the world up for another crisis, she said. It was just a matter of time.

The irony is that America is completely blind to the catastrophe heading its way. As the economic crisis unfolded at the end of last year, investors made a mad rush out of global stock markets and into other assets. The biggest beneficiary of the panic was the one market large enough and liquid enough to handle the trillions of dollars being moved: the U.S. dollar market. This caused the dollar to surge in value.

America grossly misdiagnosed the demand for dollars as a vote of confidence in the U.S. economic system. In fact, it was primarily a case of investors looking for a place they could quickly and easily get their money in—and out.

http://www.thetrumpet.com/index.php?q=6347.4807.0.0