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Study Guide: The Dollar, Copper, Oil, Holder

March 02, 2011
 Wilson

Writer

1.      Why Dollar's Reign Is Near An End

“For decades, the dollar has served as the world's main reserve currency, but, argues Barry Eichengreen, it will soon have to share that role. Here's why and what it will mean for international markets and companies.”

http://online.wsj.com/article/BT-CO-20110301-714544.html

2.      George Soros: rocketing oil price is a bubble

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/2790539/George-Soros-rocketing-oil-price-is-a-bubble.html# <http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/2790539/George-Soros-rocketing-oil-price-is-a-bubble.html>

3.      Financial terrorism suspected in 2008 economic crash

http://www.washingtontimes.com/news/2011/feb/28/financial-terrorism-suspected-in-08-economic-crash/print/# <http://www.washingtontimes.com/news/2011/feb/28/financial-terrorism-suspected-in-08-economic-crash/print/>

4.      What Really Killed Bear Stearns?

http://dealbook.nytimes.com/2008/06/30/what-really-killed-bear-stearns/

5.      Federal Reserve chief warns GOP: Don't hold debt-ceiling vote hostage

Federal Reserve Chairman Ben Bernanke approves of plans to bring federal deficits under control, but he tells senators not to link such a move to a coming vote on raising the debt ceiling.

http://www.csmonitor.com/USA/Politics/2011/0301/Federal-Reserve-chief-warns-GOP-Don-t-hold-debt-ceiling-vote-hostage

6.      China PLA officers urge economic punch against U.S.

http://www.reuters.com/article/2010/02/09/us-china-usa-pla-idUSTRE6183KG20100209

Gas Prices: Up 24 cents in 8 days

http://money.cnn.com/2011/03/02/news/economy/gas_prices/ <http://money.cnn.com/2011/03/02/news/economy/gas_prices/>

  • The national average price for a gallon of regular gasoline rose 1.2 cents Wednesday to $3.387, according to a daily survey from motorist group AAA. Prices have jumped 23.6 cents over the past eight days.

GAS PRICES RISING

  • From Feb. 21 – Feb. 28

  • From Feb. 28 – March 1

  • From March 1 – today

WIKILEAKS TIMELINE

**THE DATES BELOW ARE OF THE FIRST TIME WIKILEAKS RELEASED A DAMAGING REPORT ABOUT THE COUNTRY. THEY HAVE SINCE RELEASED ADDITIONAL DOCS ON EACH**

TUNISIA

  • June 2008: One of the U.S. government cables released by WikiLeaks exposed the corruption of Tunisia's President's family, its reach into business in the country, and ability to transcend the rule of law. President Ben Ali's family was called "The Family" throughout the leak. The government attempted to block access to WikiLeaks earlier this month. (Business Insider)

  • January 14, 2011: Riots force Pres. Zine al Abidine Ben Ali to flee the country after 23 years of power

EGYPT

  • July 2008: The consequence of invading Iraq was to strengthen the hand of Iran, concluded a key U.S. ally in a 2008 meeting with Sen. John Kerry (D-Mass.), according to a State Department cable obtained and released by WikiLeaks. Mubarak openly spoke of such ties in the meeting with Kerry. Mubarak said that he could not publicly oppose Iran for fear of "sabotage and Iranian terrorism." He said Iran's sponsorship of terrorism is "well-known but I cannot say it publicly. It would create a dangerous situation." (Huff Po)

  • Dec. 2008: US diplomatic memos released by WikiLeaks this month show previously unknown friction with Egypt over military assistance and strategy (AP)

  • Jan 25 2011: Rioting begins

  • Feb. 11, 2011: After 18 days of protest, Mubarak steps down

LIBYA

**LAST WEEK WIKILEAKS RELEASED A CABLE ON LIBYA

Nov 2010?

(Reuters, Feb. 24, 2011)

Libya placed billions of dollars at U.S. banks: WikiLeaks

  • Libya's secretive sovereign wealth fund has $32 billion in cash with several U.S. banks each managing up to $500 million, and it has primary investments in London, a confidential diplomatic cable shows. The cable, obtained by WikiLeaks and revealing the details of a January meeting between the head of the Libyan Investment Authority (LIA) and the U.S. ambassador in Tripoli

YEMEN

**ON THE BRINK

  • Sept. 15, 2009: The cables expose for the first time the true scale of America's covert military involvement in the Arab world's poorest nation amid deep concern in Washington that it has become the haven for al-Qaida in the Arabian Peninsula. Workers at Yemen's Sana'a International airport Workers at Yemen's Sana'a International airport, where the US fears poor security will not be able to stop al-Qaida using it as a launch pad for terrorist attacks(The Guardian)

The Crisis in Yemen: On the Brink of a Showdown

http://www.time.com/time/world/article/0,8599,2056045,00.html <http://www.time.com/time/world/article/0,8599,2056045,00.html>

  • Only a few short months ago, (Yemeni President) Saleh was sitting snugly on a substantial pile of U.S. military aid as a result of al-Qaeda in the Arabian Peninsula, the most active arm of the organization, having carried out near daily attacks in the country and threatened deadly missions on American turf.

  • Afraid that U.S. troops on the ground could create a second Afghanistan, the Pentagon started pumping money into the Yemeni army in the hope it would crush the al-Qaeda threat. Saudi Arabia followed suit, afraid that instability in its southern neighbor could seep across the border to target Saudi oil production. Saleh, already fighting rebels in the north and a separatist movement in the south, knew he could rely on Yemen's volatility to garner the dollars he needed to pay off tribal foes and keep himself in power

SAUDI ARABIA

**ON MONDAY WIKILEAKS RELEASED A 1996 CABLE ON THE ROYAL FAMILY’S WEALTH**

(Reuters, 2/28/11)

Special Report: U.S. cables detail Saudi royal welfare program

  • Besides the huge monthly stipends that every Saudi royal receives, the cables detail various money-making schemes some royals have used to finance their lavish lifestyles over the years. Among them: siphoning off money from "off-budget" programs controlled by senior princes, sponsoring expatriate workers who then pay a small monthly fee to their royal patron and, simply, "borrowing from the banks, and not paying them back."

  • As long ago as 1996, U.S. officials noted that such unrestrained behavior could fuel a backlash against the Saudi elite. In the assessment of the U.S. embassy in Riyadh in a cable from that year, "of the priority issues the country faces, getting a grip on royal family excesses is at the top."

  • Nov. 2010: The Guardian said some cables showed King Abdullah of Saudi Arabia repeatedly urging the United States to attack Iran to destroy its nuclear program. The newspaper also said officials in Jordan and Bahrain have openly called for Iran's nuclear program to be stopped by any means and that leaders of Saudi Arabia, the United Arab Emirates and Egypt referred to Iran "as 'evil,' an 'existential threat' and a power that 'is going to take us to war,'" The Guardian said

COPPER PRICES

From Feb 2, 2011 - TODAY

  • High on Feb. 14 by labeling it $4.63.

  • Low on Feb. 23 by labeling it $4.29

From March 2010 – TODAY

  • High on Feb. 14 by labeling it $4.63.

  • Low on JUNE 4 BY LABELING IT $2.79

Copper Sinks as Oil Tops $100 (WSJ, TODAY)

http://online.wsj.com/article/SB10001424052748703559604576176351797075040.html <http://online.wsj.com/article/SB10001424052748703559604576176351797075040.html>

  • Oil's rally has raised concerns that higher energy costs will damp economic growth and crimp global demand for copper.

  • "Copper is used in housing, cars, manufactured goods and demand for that type of stuff will drop as consumers clamp on spending to adjust for higher gasoline prices," said Matt Zeman, head of trading at Kingsview Financial in Chicago.

  • Despite Wednesday's decline, copper prices remain near record highs of $4.6375 a pound, set Feb. 14. Prices for the red metal are up almost 35% from last year as analysts forecast global demand to outpace mine supply this year.

HOLDER “MY PEOPLE” SOT

  • When you compare what people endured in the South in the 60s to try to get the right to vote for African Americans, to compare what people subjected to that with what happened in Philadelphia, which was inappropriate // in those terms I think does a great disservice to people who put their lives on the line for my people

HOLDER SISTER-IN-LAW SOT

  • My wife's sister integrated the University of Alabama - and George Wallace stood in the door and said that she as a state resident could not attend // To compare that kind of courage, that kind of action and to say the Black Panther incident, wrong though it might be, somehow is greater in magnitude or is of greater concern to us historically, I think just flies in the face of history and the facts.

HOLDER DOJ RACE SOT

  • The allegations, that somehow someway , this Justice Department does things on the basis of race is simply false.  // Anybody who makes that contention is not telling the truth, is not familiar with the facts, or has a political agenda.

GLENN RACE CARD SOT, 1/6

  • Let me predict the future. The progressives are becoming increasingly desperate // And the progressives still have a couple of pieces out on the table, you know, for the transformational puzzle that they're putting together

GLENN RACE CARD ON IMMIGRATION SOT, 1/6

  • Whether it passes or not is going to be irrelevant, quite frankly, to these people. It is exactly what they need. What is in the bill? It doesn't matter. The issue will be racism. The progressives must reactivate their far left base.

Glenn Beck, Chad Prather, and Steven Crowder on Dr. Seuss and the idiocy of cancel culture

Blaze TV hosts Glenn Beck , Chad Prather, and Steven Crowder weighed-in with similar but different thoughts on the fascism associated with canceling Dr. Seuss.

Glenn Beck can't help but wonder, "What is wrong with us?" in light of the Dr. Seuss books that have been cancelled due to "hurtful and wrong" illustrations — that takes America one step closer to complete insanity.

Chad Prather approached the issue from a comedic perspective, stating that "Dr. Seuss is dead and could not be reached for comment."

Steven Crowder explained that Dr. Seuss books were banned for being offensive and insensitive to some. So Steven decided to parody the six banned children's books with progressively titled and hilariously inappropriate versions.

Read the full story from TheBlaze News here.

'We DON'T destroy books'

"They are banning Dr. Seuss books. How much more do you need to see before all of America wakes up? ... This is fascism!" Glenn said. "We don't destroy books. What is wrong with us, America?" - Glenn Beck. Download the podcast here.

Chad Prather's comedic take on why Dr. Seuss got canceled

"Dr. Seuss is dead and could not be reached for comment'"- Chad Prather. Download the podcast here.

Dr. Seuss BANNING Bonanza! New Progressive Book Titles Revealed! 

In this 7+1 segment-- Crowder uncovers, new, unreleased Dr. Seuss titles that will be released in the near future (parody). Download the podcast here.

Use promo code BLAZE to save $10 on one year of BlazeTV.

Want more from BlazeTV?

To enjoy more Glenn, Chad, and Steven subscribe to BlazeTV - News & entertainment for people who love America.

Finance Fascists: The Credit Chokehold That Will Bankrupt America

"What's your climate credit score?" That's a question Americans may have to answer if the green global elites get their way.

While the media has distracted us with Orange Man Bad! and Russia, Russia, Russia!, the Left has been busy working on the fundamental transformation of America with a primary pressure point — YOUR money through YOUR bank. Democrats, forgetting the words of MLK, like to group people into categories. They judge you based on what skin color you have, your religion, occupation, your ideology, and now … your carbon footprint.

On his Wednesday night TV special this week, Glenn Beck exposes how they're now planning, not only to categorize you, but to give you a score. It'll determine everything for you: whether you can buy a home, get a new car, open a business … EVERYTHING. And if you don't bend the knee? You'll be blacklisted. But this isn't some far-off conspiracy theory. Multiple big U.S. banks are part of a private U.S. financial group enacting these policies now. It's here, and we're ALL at risk.

Watch the full episode below:

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

'We'll take the hits, but we WON'T let people lie': CPAC organizer hints at lawsuit over 'Nazi' stage design claims

Unlike the mainstream media, we at the "Glenn Beck Radio Program" decided to actually do the research and get to the bottom of CPAC's controversial stage design, which many on the Left have suggested was purposefully shaped like an obscure Nazi symbol. We got our answers straight from the source — and it's not what the media is suggesting.

American Conservative Union chairman Matt Schlapp joined Glenn on Wednesday to share the real story of the stage design, who designed it, and why he's taking legal options against those smearing the Conservative Political Action Conference's name seriously.

Matt told Glenn he'd never heard of the alleged Nazi insignia, noting that even a staff member who "studied anti-Semitism in college" did not recognize the obscure symbol. He went on to explain how the stage designing firm, Design Foundry, and Hyatt Hotels worked collaboratively with CPAC event organizers for months throughout the designing and construction of the stage. However, when pressured by the cancel culture mob on social media, both companies "ran for the tall grass."

"Both the Hyatt and [Design Foundry] looked to CPAC and said [they] had nothing to do with this stage. That's outrageous," Matt stated. "This whole process takes months ... everybody saw this. Everybody had to figure out how to construct this. Everybody had eyes on it from every angle. And nobody in that process ever raised their hand and said, 'Oh, you know, I took a European history class, and I noticed [that the stage design looked like a Nazi symbol.] Nobody."

Matt went on to add that, while CPAC expects attacks from the Left, they also have every intention of standing up for themselves, the conservative community, the Jewish community, and all the people who love America.

"We're fine with taking the hits. We always take the hits, it's part of being a prominent conservative group. We'll take the hits, but we won't let people lie," Matt said.

"I can't tell you how many people have called me during the course of this most tumultuous of years and said, at what point does the conservative community, do the 74 million Americans who voted for Donald Trump, do the people who love America, and think it's okay to read Dr. Seuss, and love Thomas Jefferson and Mount Rushmore, at what point do they start pushing back on the cancel culture? At what point do they say, this is a line you can't cross? I think we're at that line," he added.

"We called our conference, 'America Uncanceled.' The whole thing became about them canceling us. At what point do we not have the right to say,' you can't treat us this way'? You're disparaging us. You're destroying our reputation. You're destroying our ability to be respected members of our community. So, I'm taking your challenge of pursuing our legal options very seriously. And I think we have to go broader. We can't let these companies just follow the woke mob. We can't do it."

Watch the video clip below to catch more of the conversation:

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

Jim Acosta perfectly demonstrates why CPAC attendees chanted ‘CNN sucks’

CNN reporter Jim Acosta was confronted at CPAC by The Federalist reporter David Marcus with a valid question: "When are you guys going to start covering Cuomo?" His answer — or, really, lack of an answer — perfectly demonstrates why he was earlier surrounded by CPAC attendees chanting, "CNN sucks!"

On the "Glenn Beck Radio Program" Tuesday, Glenn and producer Stu Burguiere react to a video clip of the exchange with Acosta, as well as the mainstream media's double standards when it comes to Democratic New York Gov. Andrew Cuomo.

Watch the video below:

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.