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John Williams predicts Massive Dollar Selloff in 2014 – Is “Game Over”?

John Williams predicts Massive Dollar Selloff in 2014 – Is “Game Over”? 3

John Williams of Shadowstats.com has a grim view of 2014. He says, “It’s really going to be a currency panic . . . when the fundamental selling pressure really starts to pick up, when the selling gets heavy . . . in turn, the weakness will be seen in a spike in oil prices and a spike in gasoline prices.” Williams says there will be a panic out of the dollar and he predicts, “Once you see a massive sell-off here, I see the game as being over.”

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with economist John Williams.

 

Reserves of foreign exchange and gold

Source: The World Fact Book (CIA)

This entry gives the dollar value for the stock of all financial assets that are available to the central monetary authority for use in meeting a country’s balance of payments needs as of the end-date of the period specified. This category includes not only foreign currency and gold, but also a country’s holdings of Special Drawing Rights in the International Monetary Fund, and its reserve position in the Fund.

John Williams predicts Massive Dollar Selloff in 2014 – Is “Game Over”? 4

Here is the list for the top 50 countries based on statistics for Dec 31, 2013 (with exception of few older estimates):

  1. China $    3,820,000,000,000
  2. Japan $    1,268,000,000,000
  3. European Union $     863,800,000,000
  4. Saudi Arabia $     739,500,000,000
  5. Switzerland $     531,100,000,000
  6. Russia $     515,600,000,000
  7. Taiwan $     414,500,000,000
  8. Brazil $     378,300,000,000
  9. Korea, South $     341,800,000,000
  10. Hong Kong $     309,000,000,000
  11. India $     295,000,000,000
  12. Singapore $     270,500,000,000
  13. Germany $     248,900,000,000
  14. Algeria $     192,500,000,000
  15. France $     184,500,000,000
  16. Italy $     181,700,000,000
  17. Thailand $     167,600,000,000
  18. Mexico $     167,100,000,000
  19. United States $     150,200,000,000
  20. Malaysia $     139,400,000,000
  21. Libya $     120,900,000,000
  22. Turkey $     117,600,000,000
  23. Poland $     107,800,000,000
  24. United Kingdom $     105,100,000,000
  25. Denmark $      89,500,000,000
  26. Philippines $      85,040,000,000
  27. Indonesia $      83,450,000,000
  28. Israel $      80,740,000,000
  29. Iraq $      71,240,000,000
  30. Canada $      68,550,000,000
  31. Iran $      68,060,000,000
  32. Peru $      65,150,000,000
  33. United Arab Emirates $      58,040,000,000
  34. Czech Republic $      56,220,000,000
  35. Netherlands $      54,820,000,000
  36. Romania $      53,410,000,000
  37. Sweden $      52,230,000,000
  38. Lebanon $      51,950,000,000
  39. Norway $      51,860,000,000
  40. Spain $      50,590,000,000
  41. Australia $      48,800,000,000
  42. South Africa $      48,460,000,000
  43. Nigeria $      47,700,000,000
  44. Colombia $      43,740,000,000
  45. Qatar $      40,090,000,000
  46. Chile $      39,890,000,000
  47. Hungary $      38,490,000,000
  48. Angola $      37,940,000,000
  49. Kuwait $      34,350,000,000
  50. 50 Argentina $      33,650,000,000

Is Wall Street rigged?

Michael Lewis’s new book, Flash Boys, details how a group of financial firms, through technology and paid access, are able to get a fraction of a second heads-up on stock price movements.

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Because of the way the US financial system is spread out over more than 40 individual “markets” – many of which are just banks of computer servers that match up buyers with sellers – these high-frequency trading (HFT) companies have devised computer algorithms that figure out when a large stock purchase is being made.

StockMarket

When the order hits on one exchange, there may not be enough shares available. High-speed traders then quickly place buy orders on other exchanges fractions of a second ahead of the original purchaser, to whom they then sell their stock for a slightly higher price.

Although each trade probably brings in only fractions of a cent of profit, on high-volume trades those numbers can add up quickly.

Lewis’s book, and resulting publicity tour, which has included a in-depth segment on CBS’s 60 Minutes, has sparked a debate over whether high-speed trading is legal – or moral. Lewis says these traders have “rigged” the stock market, and many pundits and analysts agree.

“The significance of Lewis’s book is that it explains in user-friendly terms how the colossal profits of high-frequency traders really amount to an unconscionable tax on the ordinary investor, or at any rate on the pension funds and other financial institutions on which our livelihoods depend,” writes the Guardian’s John Naughton.

 Read the entire article >>

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