Bancorp International Group Inc (fka BCIT)

[clarity789]

Seems Stewie is proud of PNG, too. Here's a recent "Dear Editor" to the Jewish Times 2 weeks ago

http://www.5tjt.com/news/read.asp?Id=2218


The U.S. Dollar Diminished
Dear Editor,

Having just returned from Geneva after presenting an in-depth view of the root cause of the United States’ economic position to a sophisticated group of bankers, I realized what little understanding exists about the poor position of the U.S. dollar (USD). There are currently four world currencies far stronger than ours on any given day—the British pound, the euro, the Cypriot pound, and the Canadian dollar. There are two additional currencies, the yen and Australian dollar, looming in the background to overtake us.

What has caused the serious decline in the value and desirability of our currency? Why has our standing as the world’s number one economy become the subject of the great European comedy? Following the unprovoked tragedy of 9/11, the Congress of the United States passed a very harsh series of monetary laws as part of the USA Patriot Act.

The purpose of the act was admirable and patriotic on the surface, but devastating to our economy now and for the future, unless Congress wakes up. European banks, financial institutions, and businesses have little desire to engage in currency transactions with the U.S. dollar. The required paperwork and reporting to the U.S. Federal Reserve system of each and every transaction in U.S. dollars, whether here or abroad, make the USD “undesirable.” Filling out mounds of paperwork by overseas banks in compliance with the Patriot Act has caused a shift to less cumbersome and demanding currencies, notably the pound and euro.

It makes a great deal of sense for the U.S. dollar to tank against the pound and euro and diminish in value against other currencies. The USD is less desirable to transact business with and therefore, like every other commodity, subject to the laws of supply and demand.

How can we narrow a trade deficit with currency continually diminishing in value? Even the shekel has gained significantly against the USD. Our purchasing power and world standing is in serious jeopardy. I believe that we must encourage our congressional leaders to reevaluate the Patriot Act and the effects it continues to have upon not only our currency but upon our entire economy. Fighting terrorism is mandatory; allowing the threat of terrorism to destroy our economy is not acceptable.

Stewart Sytner,
Economist and Consul General from PNG in N.Y.