Warren Zevon knows the answer...
Now I'm hiding in Honduras
I'm a desperate man
Send lawyers, guns and money
The shit has hit the fan
Send lawyers, guns and money
Posted by dryfly at November 28, 2004 04:57 PMW Joseph Stroupe has a good commentary on the dollar in Asia Times.
Posted by Ron In Portland at November 28, 2004 05:08 PMWhen you find out where they're dumping them, let me know!
Posted by muckdog at November 28, 2004 06:41 PMOffshore banks? U.S. coporations and ungodly profits washed through tax-free susidiaries. It's time to bring it home and make it all legal, and even make money on the deal. How? The subsidiary buys the T-notes. You purchase the assets, including all financial holdings, of your subsidary. The whole thing should be tax deductible if done properly. Hell, you might even be able to get government benies and breaks for proposed 'job creation' or some such, and make even more money on the deal. Then you'll expense the thing out and pay 0 taxes.
SCHWEET!
Posted by phidipides at November 28, 2004 07:03 PMIsn't the Caribbean home to several shelter banking "nations" -- e.g. Cayman Islands -- where excessive profits go to hide from the federal tax collector?
It's not hard to imagine certain well-heeled "investors" propping up the deflating dollar with one hand, while they sell it off with the other.
Also, what happened to this original TalkLeft post? I went off to double check the exact location of the Cayman Islands only to return to find this post had disappeared and was replaced with the Ebersole plane crash item.
Tom
Posted by Tom N. at November 28, 2004 07:16 PMCertainly the Caribbean Islands are home to quite a bit of America's own money! While the central banks are dumping - it seems a good time for the American's to start finding better places to put their own money - certainly not in a US Bank. Hence the liquidity in the popular offshore banking jurisdictions closest to the continental US.
Related Story Economic Fears - Thousands of Americans Searching for Info on Offshore Banking
Posted by J.B. at November 28, 2004 07:56 PM"Certainly the Caribbean Islands are home to quite a bit of America's own money!"
It is also where a lot of contra money passed and drug money supposedly STILL passes... a coincidence I am sure...
Posted by dry fly at November 28, 2004 08:32 PMTin foil hat time
"Plunge Protection Team (PPT)"
... In my last Gold-Eagle article, I explained how the entire scheme could be operated by a small corps of Treasury higher-ups and CIA stringers through an offshore account. The orders for the PPT's equity purchases would then come to the designated U.S. brokers as a private corporation buy, certainly not as something of government origin. No one other than a select few would need to truly know...
Posted by jemmo at November 28, 2004 08:55 PM
Are the Gulf countries thinking about delinking their currencies from the dollar? LINK
Posted by soccerdad at November 29, 2004 05:40 AMThe Carribbean is home to the domicile of many hedge funds. I know because I manage one. The money is actually run out of the US or UK on behalf of rich individuals and intitutions. Alot of it is highly leveraged and cannot be relied on in a crisis. Having the hedge funds as you financier of last resort is not good. Just ask Mexico, Russia , Thialand etc etc.
Posted by Tim Bassett at November 29, 2004 06:25 AMThe issues about the falling dollar is simple if you trade option. If the dollar is falling buy short and if it rises buy long. The action is with the euro and the dollar at the same time look at the yuan and the dollar. In either case there is money to be made in option commodity market.
Posted by smith9898 at November 29, 2004 04:47 PMAll of the poppy production in Afganistan brings in big bucks. That money has to be laundered somewhere. My guess is that these Caribbean banks are great for laundering those drug profits. What the CIA doesn't use for off book black ops gets used to prop up the dollar.
War on drugs my ass.
Posted by brisa at November 29, 2004 07:01 PM