Profound Quotes

"Neither is it that US foreign policy is cruel because American leaders are cruel. It's that our leaders are cruel because only those willing to be inordinately cruel and remorseless can hold positions of leadership in the foreign policy establishment; it might as well be written into the job description. People capable of expressing a full human measure of compassion and empathy toward faraway powerless strangers - (let alone American soldiers - do not become president of the United States, or vice president, or secretary of state, or national security adviser or secretary of the treasury. Nor do they want to." From 'Rogue State: A Guide to the World's Only Superpower' by William Blum

From "9-11, Six Years Later": "If one looks at the credentials of skeptics compared to the credentials of defenders of the official line, it is impossible to dismiss skeptics as kooks. There are many people with strong imaginations on the Internet, but serious skeptics stick to known facts, known violations of standard procedures and the laws of physics. The vast majority of the people who call skeptics "kooks" are themselves ignorant of physics and have little comprehension of the improbability that such an attack could succeed without either the complicity or complete failure of government agencies. " Paul Craig Roberts

"Cowardice asks the question, 'Is it safe?' Expediency asks the question, 'Is it politic?' Vanity asks the question, 'Is it popular? But, conscience asks the question, 'Is it right?' And there comes a time when one must take a position that is neither safe, nor politic, nor popular but one must take it because one's conscience tells one that it is right." Martin Luther King, Jr.

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Asian Central Banks Intervene as Dollar Tumbles - WSJ.com

By DAVID ROMAN

SINGAPORE — The U.S. dollar continued to tumble against most Asian currencies Thursday, prompting a wave of foreign-exchange intervention by central banks in South Korea, Taiwan, the Philippines and Thailand seeking to limit damage to their export industries.

Traders said the dollar selloff is unlikely to fade soon, given the prospect for a long period of low U.S. interest rates to support a sluggish U.S. economy and increasing signs central banks in Asia will begin tightening monetary policies in the months ahead.

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Surprisingly strong employment data in Australia bolstered speculation the Reserve Bank of Australia — which Tuesday became the first among Group of 20 central banks to raise rates — will deliver another increase before the end of the year. The news pushed the Australia dollar up sharply, and intensified buying of Asian currencies against the U.S. dollar.

“Investors need little encouragement to extend selling of dollars, but received two further green lights today in the form of ongoing weak U.S. consumer credit and a stunningly strong Australian employment report,” said Patrick Bennett, a strategist with Societe Generale.

The U.S. dollar’s downside against Asian currencies is “being slowed by intervention, but consolidation or rallies are opportunities to establish or add to shorts,” he said.

Asian Central Banks Intervene as Dollar Tumbles - WSJ.com.

October 8th, 2009 | Category: Uncategorized | Leave a comment |

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