—Point Your Finger at the Green Paper Pig NOW! DO 1893 3/85
1. WHEN PEOPLE SEE THE DOLLAR'S COME TO THE END OF ITS ROPE & IT HAS GONE AS FAR AS IT CAN GO, DO YOU KNOW WHAT HAPPENS? (Peter: They sell all their dollars, they lose faith.) Why do they sell as fast as they can?—I mean speculators, not just people that lose faith. They lose faith all right, they lose faith that it's going to go up any more & they suddenly get scared that it's going to go down. So they start dumpin' the dollar while it's still high, selling as fast as they can, & this starts what you might call a run on the dollar. So it could be happening right now for all we know! That last dive was two days ago‚ so God knows where it is right now! We're getting to the point now where this thing is getting so close & so urgent‚ even one day counts! If we see things are really going bad & fast, we can work fast & dump, because that's what happens. That's what happens with the stock market too, & thank God we don't have any stocks, but we do have some of our reserves in dollars!
2. WHILE THE DOLLAR'S BEEN STRONG, GOLD'S GONE DOWN, IT ALWAYS HAPPENS, BUT THE MINUTE THAT DOLLAR LOOKS LIKE IT'S GOING TO TAKE A NOSEDIVE, PEOPLE START BUYING GOLD! I'll bet you're going to find out the price of gold has already gone up right away. The same news would reflect it. This paper is from the day before they first got the news & I think gold was still hovering around $300. But you can bet your boots there are going to be some people who start selling dollars fast for fear it's going to go down any further, just like we did. Gold was still low, because the dollar was hitting a high about the time of these gold prices, it was even down to $290.
3. DO YOU KNOW HOW IT HAPPENED? EUROPE HAS BEEN BEGGING REAGAN TO DO SOMETHING ABOUT THE DOLLAR, WITH NO EFFECT WHATSOEVER. The U.S. has refused to intervene & said it's just going to let it go. I think they're kind of proud & glad of the fact that it's overshadowing the European currencies. It makes it hard for the U.S. to sell, but easy for them to buy. So apparently the European banks gave up on the U.S. doing any intervention & they apparently had some meeting & got together—Britain, Germany, Italy, France & the Netherlands‚ the major banking powers, half of the Ten—& decided to dump one billion dollars worth of dollars‚ which drove the price of the dollar down 5%!
4. BROTHER, IN THAT KIND OF TRADING‚ THAT IS A LOT OF MONEY! Can you imagine? If somebody had a billion in dollars the day before & didn't sell, they lost 5%, or fifty million dollars by the next day! So those big traders‚ the big boys, they don't deal in just one billion, they deal in billions, especially those Arabs, & all of a sudden they suddenly found out they lost probably millions! But they didn't find it out till yesterday, maybe some of them didn't get the news till today, so we may not have seen the last of it yet.
5. I'M BEGINNING TO WONDER IF THIS IS IT, BECAUSE IT MADE FRONT PAGE HEADLINES! It's this kind of scare headlines that often starts the thing. It's right here on the front page: "Dollar off as banks intervene!" "One-billion-dollar sell-off leaves markets shell-shocked!" "European central banks taking advantage of a pause in the dollar's recent surge"—it had slowed down, in fact it stopped, & they decided to hit—"hammered the U.S. currency down by selling an estimated one billion dollars on foreign exchange markets!"—These boys hit when you're down! I'll just read you the things I've got underlined. "A plunge of more than 5%, the most violent movement we've ever seen"—that means recently. "Starting a retreat from its 14-year high!" It had risen nearly 10% this month! (See WND 69, Pg.10)
6. REMEMBER, THE BOOM ALWAYS OCCURS JUST BEFORE THE BUST, & IT'S BEEN A PHENOMENAL BOOM! It had gained 10% during the month of February‚ in one month! But just to show you how fast it can go down, it went down 5%, half of that in one day! Are you getting the point?—5% in one day! And by the time all these slowpokes get the news, who are not following the stock market closely or the dollar closely or are not involved in money exchange & trading, & begin to wake up that the dollar has just had its biggest dive in years after its biggest climb, what do you want to bet some of them are going to get the point that, "This could be it & I had better sell my dollars!" If they got the message yesterday, they're selling'm already! If they didn't get it until today, the market is going to be furious today, if I'm not mistaken. I'll be surprised if this doesn't cause a scare selling! It says, "Perhaps this will be the turning point!" That's the story, there's lots more‚ but they're scared.
7. THEY'VE BEEN VOICING THAT FEAR FOR MONTHS NOW, THE HARD-NOSED ECONOMISTS SAYING THE DOLLAR CANNOT GO UP FOREVER, IT CANNOT CONTINUE TO CLIMB. Of course, any dollars we have we've already lost 5% on the one-third dollars that we kept. Maybe I should have had more faith when the Lord warned me, & that's why I called that meeting the other day, to tell you that I have more confidence in Eastern currency than I have in the dollar right now! I believe the dollar has just about reached its limit. It has been going up for a long time & it took its biggest spurt just this past month of February when they were buying dollars like mad! But all they have to see & hear is that suddenly the dollar has stopped.
8. JUST LIKE ALL THOSE BIG BANKS OF THE FIVE PRINCIPAL NATIONS OF THE EEC, WHY DO YOU SUPPOSE THEY SUDDENLY DECIDED TO DUMP THEIR DOLLARS? (Peter: Because it would boost their currencies & knock the dollar down.) They say, of course, that they're doing it to try to drive the dollar down & boost their own currencies, but if the dollar does go down, what happens to them?—Because a lot of them have a lot of dollars! So here the dollar suddenly stops climbing, after a phenomenal climb of 10% in February alone, 10% just this year! (Maria: They were afraid it was going to go down & they wanted to get the jump on everybody else.)
9. WHEN ALL THOSE BANKS TOGETHER, OF COURSE ALL JEWISH, DECIDED TO DUMP THEIR DOLLARS, YOU KNOW WHAT THAT'S APT TO DO, DON'T YOU? They all kept saying, "Well, we just hope it's going to go down slowly‚ we just hope that it won't collapse!" They've been hanging on with their fingernails just practically holding their breath wondering what's going to happen. But the thing that almost always happens‚ it never goes down slowly. Whenever there's a Crash or a Panic or whatever they call it, it takes a nosedive, because suddenly everybody gets scared.—Just like what happened with gold. It slowly climbed up to $800, but when it dropped, brother, it dropped like the bottom had fallen out, in just a few days! It nosedived from $800 to $500, because everybody starts selling like mad‚ trying to get the advantage of the profit they had already made on their gold. Then it gradually sank from there on down to a steady $300. I've told you to hang on, because it always goes down, but then it always goes up more than it went down.
10. SO WHAT I WOULD ADVISE YOU IN THE EAST TO DO TODAY, RIGHT NOW, IS DUMP ALL YOUR DOLLARS!—Completely!—And split it between what I think are the safest Eastern currencies, those of Hong Kong & Japan. Japan & China are the two strongest economies in the East & the two biggest nations, so I expect them to hang on & their currency to stay strong. China is now backing up Hong Kong, what could you ask for more than that? It's in the interst of China in every way to keep things going in Hong Kong & keep the Hong Kong dollar up.
11. I CONSIDER CHINA THE STRONGEST ECONOMY IN THE EAST NEXT TO JAPAN! Now some people wouldn't say that, but I'm looking to the future! I'm putting my value on people & labour & agronomy & all of that. Because of their tremendous size & population & resources, as far as I'm concerned, they are richer than Japan, & they are now backing Hong Kong! That's why Hong Kong's sudden crash is now on an upturn, because people are now realising that it doesn't look like Hong Kong's going to collapse after all! (Maria: It's no longer Britain that's backing Hong Kong?) No, & the people are beginning to accept & be satisfied with the change & realising that China is now backing & underwriting Hong Kong, & it's doing everything it can to keep Hong Kong from collapsing! It was the pullout of the British & the Chinese too, Hong Kong Chinese, that got'm scared & caused the collapse, but now it's hit bottom & it's on its way back up again!
12. I COULD BE WRONG, & GOD FORGIVE ME IF I AM‚ BUT I HAVE THE FEELING THAT YOU'RE GOING TO BE SAFER TO DUMP THE U.S. DOLLAR ENTIRELY & SPLIT IT BETWEEN YEN & HONG KONG DOLLARS! Everybody else may be doing the same thing today. If they didn't get the word yesterday, they've gotten it by today! Lord give us wisdom, in Jesus' name! Help us, Lord! Help us not to make a mistake. You know what's best, but it sounds like good advice, Lord. I'd still advise people to keep reserves of one-third gold & two-thirds other currencies.
13. LET'S JUST SUPPOSE THE SCENARIO IS THAT ALREADY THOSE SPECULATORS WERE GETTING SCARED, LIKE THE BANKS OF EUROPE, WHEN THE DOLLAR STOPPED CLIMBING. They've been scared for months that it was going to stop, & scared about the U.S. deficit‚ scared about the interest rates, scared about foreign investment in the U.S. etc. What would you feel like today, knowing that everybody's been scared anyhow & the dollar's been climbing too fast anyway & that just the day before yesterday the banks of all these five major nations of the EEC dumped one billion dollars worth of dollars? That's only their estimate, God only knows how much they really dumped! It sounds to me like it would have had to have been even more than that to drive it down 5% in one day!
14. THOSE GUYS WHO HAVE A LOT OF DOLLARS & HAVE BEEN GRABBING DOLLARS‚ ESPECIALLY THE SPECULATORS, THEY'RE THE MOST NERVOUS OF ALL! They're the greatest scaredy-cats of all! They're the craziest, wildest & they do the craziest things. But they are the first to get scared, because they've always over-extended themselves, they're always afraid they bought too much of this or that. And if the banks themselves dumped billions, what do you bet the speculators started dumping dollars the next day while the prices were still high, fearing either one thing or another!—If the banks would go to that much trouble in one day they might do the same thing the next day & drive it down another 5%! Wouldn't you have dumped your dollars if you got the news in time? And then what if everybody starts dumping dollars‚ including the big investors?—Big solid long–term investors who have been investing in the U.S. for some years now, & in this past year just buying dollars like mad! What if they finally get scared & see it's really plummeting, & plunging? They call it a plunge! I called it a nosedive when I wrote about that a long time ago. So it's not the first nosedive the dollar's taken!
15. BUT WHAT IF YOU WERE ONE OF THOSE BIG DOLLAR BOYS, WOULDN'T YOU BE A LITTLE NERVOUS & A LITTLE SKITTISH?—Especially if you're not one of the great big money boys with lots of money to burn & who can stand a few losses while hoping that it's going to recover. What if you are just operating like some of these brokers, on credit & a shoe string? You can't afford to take any chances! You can't even afford to take a chance on the possibility of another dumping by the banks of Europe to drive it down another 5%, in which time you have lost all the gains you made in February, 10%! What would you do if you were those scared speculators?
16. SPECULATORS ARE SCARED ALL THE TIME! They live in constant fear that they're going to lose it just as easy as they made it, because it's the riskiest business in the World! It's a guessing game. That's what speculating
17. THESE GUYS THAT GAMBLE ON U.S. CURRENCY, THAT IS ALMOST THE RISKIEST GAMBLE IN THE WORLD, BECAUSE THE U.S. CURRENCY HAS ABSOLUTELY NOTHING TO BACK IT UP! At least stocks are shares in something tangible, something that is real, some kind of real value, either commodities or real estate or companies, factories & products. At least they've got something left. If it loses its value in cash, at least maybe they can go eat it or do something with it, sell it. But brother, when the bottom drops out of currency there is nothing left, it's good for nothing!—And it's happened time & time again! It happened to China after the Sino-Japanese war in 1895, it happened to Germany after World War 1, & it happened to Germany again after World War 2! So it's common, it's not unknown.
18. SO THESE GAMBLERS ALWAYS LIVE IN FEAR, BUT BECAUSE THEY'RE GAMBLERS, IT'S COMPULSIVE GAMBLING & THEY'RE ALWAYS HOPING THEY'RE GOING TO MAKE THE BIG STRIKE THIS TIME & THEN THEY'RE GOING TO QUIT! They've been making the big strike now for about a year & the dollar's climbed, & during the month of February it climbed the most of any time, that was the biggest strike of all. Now all of a sudden it stops & it suddenly takes a 5% nosedive because the banks in Europe are beginning to dump. What do you think these speculators are going to do & little fellows like you & me? (Peter: Dump!) So now is the crucial time to see which way the wind is blowing! Do you understand? It's more important right now to know at this point. You are never so near the abyss as when you're on the top of the cliff, as when you're at the summit, & the dollar is right now at the summit!
19. IN THE MERCY OF GOD HE MAY SAVE SOMETHING SOMEHOW, BUT IF THIS IS HIS TIME & WE MANAGE TO DUMP OUR DOLLARS QUICK TODAY BEFORE IT'S TOO LATE, GOD MAY LET IT GO! He's got to some time! My advice is that I don't think it's at all safe to keep dollars or European currencies, even Swiss francs! The Yen's been appreciating in relationship to the Swiss franc, see? For years there it was just going along steady at the same ratio to the Swiss franc. But within this past year, I've been watching it in every newspaper, it's been gradually climbing up above the Swiss franc‚ gradually climbing‚ so that they're no longer on a par, it's no longer a parity between the two of them. So that shows you Swiss francs are not all that safe any more either. Most of us don't live in Europe & we don't expect Europe to do too well in the future, especially if there's war.
20. BUT I DON'T THINK THE SWISS FRANC IS GOING TO SLIDE THAT FAST, IN FACT RIGHT NOW IT'S HOLDING ITS OWN AGAINST THE DOLLAR. So I would expect European currencies to stay steadier than the dollar. The banks are trying to get the dollar to nosedive so that their currencies will appreciate, & they did it, 5% in one day! They did it totally in secret & totally unexpected without notifying anybody. They don't dare notify anybody‚ otherwise everybody else would start dumping their dollars & drive the price down. They've got to do it on their own, secretly & suddenly, unexpectedly! That's why these things happen so suddenly, because it's a gambler's business & they can't take any chances on letting anybody know what they're doing or it might ruin the very thing they're trying to do.—Like poker.
21. ONCE WE DUMP THE DOLLARS WE HAVE, WE NEED TO KEEP A CLOSE WATCH ON THE MONEY MARKET AS FAR AS THE YEN & HONG KONG DOLLARS ARE CONCERNED. I wouldn't expect the Yen to be as affected by the dollar slide as I would expect the Hong Kong dollar, because Hong Kong is still a part of Britain & a part of the West. I would say that if there's any problem, the Hong Kong dollar is apt to be more affected, because it's still really a Western economy with many Western investors & bankers. So I would expect it to be more affected than the Yen.
22. YOU'D BETTER DECIDE ON WHICH ARE YOUR MOST URGENT, ABSOLUTELY IMPERATIVE PUBS THAT YOU NEED TO GET OUT IMMEDIATELY! Put everything else on the shelf & give top priority to the things that have to go, & I'm certainly going to push these Posters first, that's for sure! Even if you don't get any of your books printed, GNs & Posters have got to go first! We could even do without the WNDs if we have to & some of the rest of it‚ but the Posters are going to go first if we've got any money left. We're not going to do all this work for nothing, I want them to get out! If it's my last grandstand swan dive‚ that's going to be it!
23. WELL, I GOT A FUNNY PICTURE! I was just about to tell you about something else you need to do‚ & I got the old picture of me puncturing the dollar balloon! (See Nos.243, 294.)—Because if it's important enough for us to do it, I think we need to start contacting our folks just as fast as we can to tell them to convert into Swiss francs or Yen, depending on where they are‚ just as quick as they can, & dump their dollars! In other words, the mes sage is: Dump your dollars!
24. I NEVER THOUGHT IT WOULD BE POSSIBLE FOR US TO HAVE ANY EFFECT ON THE DOLLAR, EXCEPT WE HAVE GOTTEN OUT MILLIONS OF COPIES OF OUR THEORIES ON IT. But who knows? Maybe our people going to the banks & dumping even small amounts of dollars is starting to pass the word around, "You'd better dump your dollars!" It doesn't take much for the word to fly on the grapevine that people are dumping dollars, & everybody goes mad scrambling to dump dollars! But for God's sake‚ let's get ours dumped first before our people tell anybody, but then they ought to tell their friends & their printers, just in case. So we need to notify our people, all of them that we possibly can! At least they can go to the bank & dump all the dollars that they can as soon as they can!
25. SO THAT'S THE WORD, DUMP YOUR DOLLARS!—IN FACT, WE SHOULD HAVE DONE IT SOONER! Lord forgive us for not having more faith in what He warns us about! I'll be surprised if it doesn't happen! Because having come to that point where even the big banks of Europe are dumping their dollars to drive it down, then other people are going to try to do the same thing to save themselves. (Maria: Maybe we could still have urgent prayer about it & send out prayer requests.) Amen, this is it!: Have urgent prayer about it‚ pray as though everything depended on prayer‚ but go out & dump as though everything depended on dumping!—Just get out of dollars all we can! We may not have many, but we need to be faithful with what we have & get them into a currency that is strong & stable, like Japanese Yen—or for the West even Swiss francs if Yen are difficult.
26. THE LORD'S BEEN WARNING US A LONG TIME! I mean, if we get caught or if they get caught, it's not going to be the Lord's fault or my fault‚ because I have been telling'm & God's been telling us for a long time. We've had years of warning, downright years of warning! I wrote the Letter "War-Boom-Bust" at TSC in 1970 (No.H), & I wrote "The Dollar" in 1971 (No.103). That's 15 years of warning, Brother, & I think that's about enough! I think it's time we took action on it & believed it & did it!
27. (MARIA: BUT SHOULD THEY KEEP THEIR SWISS FRANCS & ANY OTHER CURRENCY?) Well, I think the Swiss franc is going to hold stronger, if anything‚ because of this dumping. The Swiss franc is going to go up, & it did, immediately. So about the only thing the West can do is dump into Swiss francs. So I'd say for the West—North & South America & Europe—about all they can do is dump into Swiss francs & don't send us your tithe & gifts in anything but Swiss francs if you possibly can. And the East should dump directly into Yen or Hong Kong dollars.
28. TELL'M TO DUMP & KEEP DUMPING & STAY OUT OF DOLLARS FROM NOW ON! The scare has not been over Swiss francs or Yen. There was a scare for awhile on Hong Kong dollars but it's over. But the scare is now on on the dollar, & let's hope we're going to get the word to'm fast enough!: DUMP YOUR DOLLARS! Point your finger at the dollar & rebuke it in Jesus' name!—Amen?