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Social nets wrap: Politicians turn to their other favorite subject: money


With many political eyes turning to November, the nation's politicians are getting focused again on -- of course -- money.  How to get it, spend it, force opponents to spend theirs while you save it. 

Well, you didn't seriously think they'd forget about the green stuff for too long, did you?

From the BP oil spill to the national deficit to winners of the recent Tuesday primary votes trying to harvest some off their victories, here's the latest Facebook and Twitter feeds.  

DavidVitter (Senator, R-La.) Introduced legislation to stop Sen. Reid & liberals from raiding #oilspill clean up trust fund. #Louisiana #Gulf #NOLA

DavidVitter Pushed my bill to eliminate cap on BP’s liability. Liberal NJ Sen. who has legislation to cap BP @ $10B, blocked it.

TransportGOP Mica: oil spill trust fund is no BP piggy bank:

SharronAngle (Gubernatorial challenger, R-Nev.) RT @jslconsulting: Congrats to @SharronAngle for raising over $100K in 24 hours! #tpp #tcot #BeatReid | Thanks for the mention! #nvsen

SenatorMenendez (Senator, D-N.J.) Starting today $250 checks will be sent to seniors who hit the Rx drug 'donut hole', the first step in closing the hole

JeffFortenberry (Rep. D-Neb.) Will soon be testifying on my bill to promote entrepreneurship opportunities for veterans before the Veterans...

RepJoeBarton (Rep. R-Tex.) Dems eye stimulus to pay teachers

GOPLeader just gave POTUS this statement from 100+ economists saying cut spending now to create jobs #tcot #hcr #teaparty

DBowen (Secretary of State. D-Calif.) On hold for LADWP. Their website billing function is back on line, but that's not enough to avoid the need to talk to a live human being.

Tim Pawlenty (Gov. R-Minn.) Click on the Donate Facebook tab today and refill my veto pen to support candidates who will cut Washington's out-of-control spending!

RandyNeugebauer (Rep. R-Tex.) RT @PeterRoskam Please RT this if you think 90% debt to GDP ratio is way too high. From @FOXnews this AM:

Cory Booker (Mayor. D-N.J.) "Self-respect is the fruit of discipline; the sense of dignity grows with the ability to say no to oneself" Abraham Joshua Heschel

-- Craig Howie

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Photo: Brian van der Brug

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Who runs the BACKSTAGE ?

2008 Lehman´s fall recorded the beginning of the worst crisis ever known in recent history.

Banks seemed to be falling down as in a chain production factory. The banking sytem was nearly defaulted if the public help from governments would not have arrived on time.

Now, the governments are the ones at default risk.

The classic economists recipes were used during 2008, but what do we do now when the governments are the ones at risk ???

What is now the upper level to save us ??? ... This is the scenario that university professors used to explain us what PAPER MONEY really means.

PAPER MONEY is worthless if the world is broke. So, the main question now would be: IS THE WORLD BROKE ???

There are 3 main currencies in our planet: YUAN, DOLLAR and EURO.

YUAN is not traded in forex organised markets. Chinese government does not let speculation attack yuan by protecting its quotation.

DOLLAR was said not to be any more the reference currency. This was 6 months ago. Now, it is the saving currency for many.

EURO achieved at that time 1,60 against DOLLAR. Now it is breaking down the 1,20 level, dynamiting the foundations of global commerce. Chinese exporters menaced today not to trade in EUROS any more. This same situation happened with the DOLLAR 6 months ago.

So, who is managing our markets, our lives, our future ???

Because I have no doubt that many people are getting very rich with all these scenarios. A lot of money challenging currencies, countries, non stop pressure on governments ...

Do you want me to put "names" on these people ??? ... Very simple. Sovereign and hedge funds.

Do they enjoy Insider trading ?? ... Maybe !!!

Are they supported by key Lobbys ??? ... Maybe !!!

But what has more power that a mass of money directed into a weak economy ??
But what has more power that negative gossip on someone at the right time, at the right place ???

DOLLAR was weak, then let´s drive it to 1,60 against EURO. Now US ECONOMY seems to recover, let´s attempt against EURO. What ´s next ??? ...

Maybe to say in public that CHINA is overheated. Maybe to publish in main media that BRAZIL needs urgent funds to survive.

Or maybe not, maybe it is ok to say the world now has no issues to worry about, let´s be LONG on assets, stop to the SHORT positions !!!... No BEARS any more !!!

But, who manages this dance ??? ... Who manages the BACKSTAGE of our futures ???

I gave you the answer before.

But, no surprise at all with these practices. In year 1985, Soros was a pioneer on these arenas. It is very extrange how he thought 2 months ago that attempting against euro was next and very lucrative.

And you, what do you think ?? ... Why do you think that traditional GURUs always died in poverty ???

Jose Luis Revilla Escudero
Chairman & CEO
WWShares, Inc
-Private Wealth Advisors-


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About the Columnist
A veteran foreign and national correspondent, Andrew Malcolm has served on the L.A. Times Editorial Board and was a Pulitzer finalist in 2004. He is the author of 10 nonfiction books and father of four. Read more.
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