I know this sounds like some dumb stupid conspiracy theorie but this is something my friend told me and how I should prepare for it, at first I thought he was crazy but it doesn't sound impossible that the us dollar could fail. I looked on youtube and saw many videos on how the us dollar will fail coming soon and there will be martial laws and basic chaos. Now im new to this whole political forum and politics in general but I just want to have some insight from people who know way more than I do about what is going on in politics just to give me and idea how much smoke there is to this fire.
If we do not make dramatic fundamental changes in our spending the US dollar will inevitably devalue. Right now the Dollar is still the worlds reserve currency that international trades are settled in which has helped to prop up demand for the dollar, but the rest of the world will eventually lose patience with QE1, QE2, QE3, etc to infinity and dump the dollar...maybe replaced by a new petro dollar? Either way, high interest rates and inflaton are pretty much inevitable.
"If we do not make dramatic fundamental changes in our spending"
aka AUSTERITY in the Banksters Great Depression will WITHOUT ANY DOUBT kill Ms of jobs and prolong/deepen the Depression.
Pick your poison, .
, you pick the poison for others, not for yourself
"shared sacrifice" always excludes the plutocrats and 1% who are the one who created the deficit.
There is always a way out. As the following article suggests the solution is not through division but through cohesion. At least that is what the Swedish did. We have to drop what the far left and far right want to do, and do what is right for everyone. Unfortunately, unless Obama has an epiphany he may not be capable of such a transition.
http://www.slate.com/articles/news_a...iraculous.html
At this point, there's too much debt that it's hard to envision the whole thing NOT collapsing, tbh.... additionally, fiat money always fails because corrupt politicians eventually figure out they can print money for themselves and their cronies, and that's exactly what's been happening here, tbh....
"cohesion."
the Repugs/VWRC has been diminishing, destroying any cohesion or civility for 30 years. It's a blatant strategy. United We Stand, Divided The 1% Rises.
even if it truly happens that the US dollar fails it would be more of a disaster to them s rather than to us imho, not a bad move to drag them s aboard the sinking ship. they used to attack us economically by dumping s with wal-mart being their accomplice, and now they're getting punished for their own malice
Last edited by Latarian Milton; 10-18-2012 at 10:34 AM.
This is one reason the Chinese continue to manipulate their own currancy value so as to move more goods verse the value of the US dollar. They buy less, but sell more.
That's a great question and a great opportunity for me, thanks for asking. I recently met a family in Idaho who were worried about their dollars being destroyed in the washer and I sat with them and had a long talk about the power of prayer. That family is now not worried about their dollar failing. I've had several dollars at once and never had one of them fail. I've lost a few, but I've also found that the American spirit keeps me striving to push forward. Manu-20, God is our way and with him all things are possible. God bless you, thanks again for that question.
sorry to break the news to you, but China is doing currency swap deals all over the world precisely so they don't have to trade in US dollars.
With QE Infinity here at home, and a gradually decreasing demand for dollars abroad, by the time the Chinese do end up dumping their dollars, they won't be worth anything anyway.
Only if you make it rain.
AFAIK, dollars and govt notes are still in high demand. In the long term we probably need to get our together, but it's no time to panic yet, IMO.
This. We have long term structural problems, but in the short run the dollar isn't going anywhere.
now is a great time for the US to be selling debt due to the extremely low interest rates, and STILL the US can sell all it wants and There Will Be Buyers.
structural problems are primarily the tax and regulatory structure that enriches and protects the 1% and corps, NOT the national debt.
The fed buying our debt doesn't count.
Are you suggesting there is not international demand for US treasuries? And, maybe if congress would provide decent fiscal policy, so much loose monetary policy would not be necessary. People, corporations and he government cannot all deleverage simultaneously without serious drag on the economy.
The fed buying our debt doesn't count.
We are with no doubt, on a path to failure. Unless we change the way we operate in the world, we will become a 2nd or 3rd class nation. No telling how ling it will take, but that is the path we are on.
You said the Fed, I didn't
The fed buying our debt doesn't count.
US Treasury sells bonds, and over 50% outstanding are held by US citizens and orgs.
if the U.S. dollar ever fails the U.S. will just print a new currency...the feds will just drop the facade and base the salary on the financial strengths of U.S multinational corporations...or something like that.....the government owns the lions share of the debt...so it can do whatever it damn well pleases
Good luck convincing other countries to take that crap-ass fiat money, tbh....
it would have the backing of U.S. and global conglomerations.....that's the only thing that would still have value..
but I don't see the dollar collapsing, especially with the unstable Euro...
The US may print a new currency but global trade will use a world currency consisting of something like the IMF's special drawing rights.
And when that happens you just got a lot poorer.
Thank God the euro is going down before us.
The value of the dollar is not the US economy's biggest concern or any concern at all.
The fraud and thieving, the complexity and opacity, the many $10Ts of risk in the the US criminal financial sector are, as was the case in 2000s, STILL and BY FAR the primary concern for the 99%.
While the feeble, gutted financial regs after 2008 have done little, Gecko/Ryan and the Repugs intend to kill those and any other financial regulations.
There are currently 1 users browsing this thread. (0 members and 1 guests)
Posting Permissions
Reply With Quote
