US Dollar on the verge of CRASHING!

[Hutzpa]

People! what in the world has George W Bush done to the American people or to this once great Nation. Just came across this article from Russia and was devastated to learn that, the United State is indebted to China big time, and the rest of the major power are shying away from the 'Almighty Dollar'......China is basically running the treasury department, each and every dollar spent goes to China and they in turn uses the dollar to buy cheap goods, and have stop....repeat stop stashing Dollar as form of reserve. Anyone wonder why mortgage market has taken a tumble, why the stock market is failing slowly, why the economy as a whole is none existent. The Canadian Dollar has reached parity with US Dollar Read and weep!!! this is mind boggling, devastated, angry, and vengeful......yet still people need a case for impeachment. 'I'll be darn'!!!

Here are some excerpt I find interesting and the link follows.

Many websites<4> are currently peddling the theory that the United States invaded Iraq because in 2000 Saddam Hussein had switched from dollars to the euro as the medium of exchange for purchasing Iraqi oil—the invasion was largely undertaken to discourage OPEC and other oil exporting countries from following suit. While many of these sites vary in detail, the logic of their arguments is similar:

We must have seen couple of post regarding this speculation, so its no longer a speculation, its actually real.

Proponents of this view contend that the dollar priced oil system creates a virtuous cycle for the United States, making the country's massive trade deficit tolerable and its foreign military operations financially bearable. They believe that the existing dollar/oil system allows the U.S. government to run up a massive deficit without rising interest rates as foreign dollars are used to purchase U.S. government debt. The economy thrives because the U.S. private sector is not crowded out of the financial markets. The net result of the use of dollars as a reserve currency is to allow strong levels of consumption and investment despite extraordinary low rates of savings. Meanwhile, the United States can pursue overseas military operations without being encumbered by the resource constraints facing other countries—the United States can have both guns and butter. Proponents of this view believe that breaking the dollar-oil link would drastically reduce role of the U.S. dollar as an international reserve currency, and thus the military and economic power of the United States.

Reason for invasion of Iran, keep the war on terror going to keep dollar alive.

The real reason the Bush administration wants a puppet government in Iraq—or more importantly, the reason why the corporate-military-industrial network conglomerate wants a puppet government in Iraq—is so that it will revert back to a dollar standard and stay that way. (While also hoping to veto any wider OPEC momentum towards the euro, especially from Iran—the 2nd largest OPEC producer who is actively discussing a switch to euros for its oil exports).

The effect of an OPEC switch to the euro would be that oil-consuming nations would have to flush dollars out of their (central bank) reserve funds and replace these with euros. The dollar would crash anywhere from 20-40% in value and the consequences would be those one could expect from any currency collapse and massive inflation (think Argentina currency crisis, for example). You'd have foreign funds stream out of the U.S. stock markets and dollar denominated assets, there'd surely be a run on the banks much like the 1930s, the current account deficit would become unserviceable, the budget deficit would go into default, and so on.

What da fuck???????? Is this happening now or are we just seeing the signs.


Heres the link:

http://www.ccc.nps.navy.mil/si/nov03/middleEast.asp#references




:grr: :grr:

[valerief]

1. You ever see those pics of third world people scratching the dirt for bugs to eat?

Two years.

[Hutzpa]

2. I say we need to start learning Mandarin!

[SammyWinstonJack]

89. Seems that Japan holds most of our debt to the tune of 612.3 billion

as of the end of the first quarter of '07. :shrug:

[Zywiec]

3. Are you that close to poverty? Perhaps you can get some help

now.

[Dervill Crow]

9. Help from whom? The federal government? eom

[Zywiec]

12. I'm sure there are foodbanks that can provide something

better than bugs.

[valerief]

24. Who funds the foodbanks? And with what currency? nt

[Zywiec]

27. Churches, charities maybe?

Just tell me you believe 300 million people will be digging for bugs like a third world country in two years, and I'll buy you a star.

[valerief]

36. Oh, yeah, those faith-based tax dollars. nt

[Zywiec]

40. Faith based tax dollars?

I was thinking more of community donations of food. Of course in your your fantasy world we'll all be digging for bugs in two years. Any other grand predictions I can bookmark?

[riderinthestorm]

71. Food bank donations are way down, demand is way up in the past year

Food banks can't keep up (I believe the numbers are somewhere in the neighborhood of 10% more demand, and 8% less donations but that was more than 6 months ago - since then, it's only gotten worse). I know, I work at my local community food bank (western Chicago suburbs). And the population of people who are coming to the food bank in my community aren't just the World Relief refugees anymore but Joe and Jane suburbia. Church food pantries are having an even tougher time than my community resource center.

[tomreedtoon]

76. When you're out of work, will you donate food?

Your argument thread up to now has been insisting that someone in these charities is regularly passing the miracle of Loaves and Fishes, providing Chicken of the Sea Tuna and Wonder Bread for people to eat. Where do you think these miracle contributions of food come from? And do you think the Cheneys and the Gateses and the Trumps will give enough to charity to feed a nation?

This is one of the stupidest arguments I've ever heard against the clear truth that our nation is being flushed down the cesspool.

[valerief]

10. I only have dollars, which will be worth nothing. nt

[Zywiec]

11. So you think in just two years we will be a third world country?

I wonder if people were saying the same thing the last time the dollar was as low? I'm a little more optimistic and think we will not be digging for bugs in two years.

Of course if you still believe it, maybe you should start looking at this site: http://www.eatbug.com/

[historian]

34. we already are a third world country

Having lived in Brazil for many years i can confirm this. Both have corrupt governments who thrive on bribes and fraud. The infrastructure rots and poverty increases while the politicos keep themselves nice and fat not giving a damn about the population. In every worldwide contest for high school kids we constantly rank last including ENGLISH!!!! Ask a salesperson how much 50% of 10.00 is and watch the panic as he/she looks frantically for a calculator. Ask the average person to point out Iraq on a map and you'll probably be pointed to Vegas or something. Ask most people when iraq was created and who by and they will look at you as if you were an idiot. In fact ask almost anything and youll be amazed!!!
Ive asked scotty to constantly beam me up but he wont do it. Dont blame him really

[KansDem]

39. I had a similar experience several years ago...

Ask a salesperson how much 50% of 10.00 is and watch the panic as he/she looks frantically for a calculator.

I was driving to a New Year's Eve party in another town. I arrive in town about 7pm and thought I'd better get some gas just to be safe since I saw a gas station open. No way in telling what it would be like after midnight. So I pull into the station and pump $8.25 in gas. I go into the little store area to pay and I give the clerk a $10 bill and a quarter. He gets out his calculator to figure the change.

:rofl:

I don't know, maybe I should be satisfied that he wanted to be precise with my change, but I thought it was pretty obvious...

[gateley]

45. Excellent. Well said and chilling. Thanks. nt

[Hutzpa]

49. I sure do work with

some of these numskull and its demoralizing as a human being to fathom, especially in the South where these guys have not been anywhere except to work and back, some of them have not even been to their neighboring state....talk about living in la-la-la-land.

[Zywiec]

55. You're a historian and say the US is a third world country?

I hope you're not also a teacher.

I would love to see what facts you have to prove that the US is a third world country. I would point out the how the IMF classifies countries and economies, but I'm sure you don't think much of them. What are your sources of fact?

[lonestarnot]

61. No we are not.

[reggie the dog]

42. Argentina?

Argentina stlye third world country?

[rndmprsn]

47. just quit it...you're being silly at this point.

arguing against eating bugs, when the original post was something so serious.

[Zywiec]

56. Yeah, I'm being silly and the person who says we'll be eating bugs

in two years is not? Hyperbole much?

[Richard Steele]

70. What's this "just two years" stuff? We've been headed that way for six years now.

Economic collapses take years to occur, and we're
in the middle of one right now. Our government has
been LYING to us about every major factor of our
economy, and they'll still be lying when you and I
are doing our daily "bug-digging".

Let's be a little less silly: poor people here in the USA
don't dig bugs, they eat from dumpsters.

Ask yourself: are there many MORE, or many FEWER people
eating from dumpsters here than there were six years ago?

And then realize that the USA is ALREADY a third world
country for THEM.

[info being]

30. Gotta diversify away from dollars

Go for oil, gold, or Euro ETF's...which allow you to keep your money in dollars but have the value track against those "currencies".

[MadHound]

4. Hell, not only does China own a large part of our national debt

But Saudi Arabia owns a large part of our personal debt. All that gas and what have you that you've put on a credit card, well that debt was purchased by the Saudis.

[MADem]

5. The guy who wrote that article is a friend of mine!

This article is NOT from Russia. It's from the Naval Postgraduate School. Robert Looney's a prof at the NPS in Monterey CA. He's also a past IMF member. He knows his shit. Haven't seen him in years, but he's a good guy.

China's had a shitload of our debt for a LONG time.

What do we do? Bob would say "Print more money." Seriously, he would. And only half-tongue in cheek.

Let them buy up a load of our assets over here--after all, they can't take it with them. The Saudis did the same thing, years ago.

The key comments are in his big finish:

1. For a number of technical reasons OPEC is unlikely to shift markets to euro-priced oil. There would be costs and inefficiencies involved, with no real significant benefits gained. The same applies to the buyers of oil.

2. There is good reason to believe that the euro's current appreciation vis-à-vis the dollar will not be sustained—the currency will have a hard time maintaining its current parity with the dollar. The euro's current strong value is taking a toll on euroland economic performance.

3. Even if the euro were to maintain its parity with the dollar, this would not cause the dollar to cease to be the international reserve currency. A two international reserve currency system is more unstable<24> than one dominated by a single currency. Markets will move toward stability—and a currency with a historical track record.

4. The fate of the dollar and hence its use as an international reserve currency is largely in the hands of the United States—budget and trade deficits and low savings pose a greater threat to the use of the dollar as a reserve currency than any actions the EU or OPEC could undertake with regard to oil pricing.

5. Even though the United States may derive some economic benefit from having its currency serve as the dominant international reserve currency, the gains are not nearly as great as is often assumed—around 0.5% of GDP at best, much of which is offset by lost manufacturing exports and jobs associated with the strong dollar.

It follows that the notion the United States undertook the Iraq war over its concern with the consequences of Saddam Hussein denominating Iraq's oil sales in euros (and the direction that might move other producing countries) is little more than another web-based conspiracy theory.

[tulsakatz]

6. this has been going on for a long time!

Clinton warned several yrs ago that it is not a good idea to owe such a large debt to China!!

And yes, they have been trying to change trading from the dollar to the Euro for awhile. In fact, I read an article once that claimed the reason for the Iraq war was because Saddam was going to do the same thing.........change from the US dollar to the Euro and that we had to invade to stop it. (I don't know how true the story is but it sounded reasonable at the time)

[kenny blankenship]

7. It's a lot more plausible than Greenspan's publicly offered explanation for backing the war

He said Saddam was a menace to oil supplies from the Persian Gulf--literally menacing the tankers on the waters of the Gulf. The statement, which he relates is what he told Bush in support of the idea of war on Iraq, is ridiculous, but he did make it in his book and in publicity appearances to sell the book. The fight to prop up the dollar is far more likely sounding. Saddam didn't have the missiles to threaten tankers in the Gulf assuming there was any intent. But we don't have to speculate about Saddam's intent to get out of dollars in his country's oil contracts--it's a matter of record. I'll bet Mr. Greenbacks had a lot to say about that to George Bush.

[Hutzpa]

8. So.....I suppose Ahmadinejad falls

into the Saddam category then, because they've been touting war with Iran for awhile now. This is fucking crazy.

[Deja Q]

14. He also gave China MFN status on a platter.

A lead-lined platter, perhaps?

[Captain Hilts]

13. I'm in Toronto right now, it's NOT cool what the greenback and Canuck buck are doing. nt

[Deja Q]

15. Making baby bills out of wedlock?

:hide:

[Red Zelda]

16. The Canadian dollar

is today worth slightly more than the U.S. dollar.

[madrchsod]

17. "Oh," cried Chicken Little, "the sky is falling. I must go tell the king.

japan holds more debt than china..

no country is going to deprive 250+million consumers of money to buy goods and services from them

when the dollar falls it is cheaper to invest in america

the mortgage scandal was another enron

the people are weeping about the "loony" are the merchants in canada not the canadian consumers of dollar priced goods

the stock market has about as much creditability as a casino..wait, it is a casino

http://www.rickwalton.com/funstuff/skyfall.htm
The Sky Is Falling

[truedelphi]

33. That one is one people do not want to ponder

"the stock market has about as much creditability as a casino..wait, it is a casino"
They just want to have a "financial expert" offer info on what is really hot hot HOT right now and not mention that it too will pass

The dot coms got tombstoned in 2000, just four or five months after being touted as a new economy that could never bottom out.

Now the realestate investments are facing the same fae only about fifteen months after it was said the real estate can never bottom out.

[Vilis Veritas]

35. LOL

:rofl:

Your analogy is sheer brilliance...they got to keep us afraid in order for us to be compliant...

No Fear.

[JackRiddler]

64. Questions

If a cheap dollar is so great for U.S. manufacturing, why has the trade deficit continued to go up since the dollar began its decline?

When total debt - personal, corporate, government - exceeded GDP in countries like Argentina, they went bankrupt. Why didn't the cheapening of their currencies bring them a revival first?

[Heywood J]

82. "japan holds more debt than china"

True. But at least Japan isn't trying to poison us or fill our landfills with poisonous trash. At least they have a high standard of living, they don't operate in sweatshops.

[Vilis Veritas]

87. China is not trying to poison us either...

It is the lack of oversight that is allowing the manufacturing sector in China to cut corners. If you think that the Chinese Government is aiding this then you are sadly mistaken.

It is corporate tyrants, not governments that is causing the harm...think about it, the last thing the Chinese government wants is to cut off their largest source of revenue...

No Fear.

[Greyhound]

18. K & R

Wish I had time to get into a discussion of this, it is interesting. Maybe tonight.

[ThomWV]

19. Your conclusion is essentially correct but you take an indefensible way of getting there

The dollar isn't crumbling because of the oil economy and its traditional trade in dollars. The dollar is crumbling because those who hold our debt are coming around to understand that we have no way to repay it.

In the end a country can only repay its debt from one or a combination of three sources. It can dip into its gold reserves to pay its debt. Unfortunately our gold reserves are less than 1/100th of our debt so after we hand it over in its entirety we still owe. The second thing a country can use to pay off its debt is the future work of its people. Basically people will work and earn for years to come and much of what they earn will be used to repay the debt (taxes will be collected and the revenue from those taxes will service the interest due on the debt). Unfortunately we have lost much of our production capacity and more importantly we have a dumbed down workforce that knows little and came make even less. Thus we are no longer seen as the innovate Americans, but more like the ignorant Americans and in no case are we the ones who can earn enough to repay our debt. Finally a country can sell off its natural resources. We have coal, but then so does most of the rest of the world, we have oil, but not enough for our own consumption at current rates let alone enough to export for debit repayment money. We have uranium, but not a lot of it, we already import much of our natural gas from Canada, so that one is out too. What we have to export is agricultural products. You think food prices are high now, just wait and see where they are headed. It may surprise you to learn that while Ireland's people were starving to death as a result of the potato famine the country was a net exporter of food. The rich sold the food as the poor starved - think it can't happen here?

Anyway the world has come to figure out that we are a piss poor credit risk. Nobody in their right mind will be in any hurry to take on any more of our IOUs, and that creates one monster of a problem.

[Hutzpa]

20. Basically the future looks gloomier for our kids

and all we can do is nothing, big corporate firms keeps lying to the American public and the media continues in their brainwashing and misguided news.


:mad:

[AngryAmish]

25. No even wrong

Wrong is when someone says 12 + 12 is 25. Not even wrong means the answerer has no idea of the import of the question.


So


For the 101923736231674326743 time, here we go:

1. The US Debt is financed by T-Bills.

2. T-Bills are bonds. In a bond the issuer (US) is given a sum of money by the buyer of the bond. In T-Bills there are periodic interest payments, non-negotiable as to rate after bond is issued. When the bond becomes due, the principle is returned to the buyer.

3. T-Bills are bought with dollars and are payable in dollars only. Not gold. Not uranium. Not tacos. Dollars and dollars only.

So in the event of a dollar collapse, we can always print more dollars (or the electronic equivalent). The bond holders have no interest in crashing the dollar because they lent the US non-crashed dollars and are being paid in inflated dollars -- yes, that is essentially giving our country money.

[Hutzpa]

26. Where the hell did you get this

from, your 12+12 =25, no shit!!! Question, did you read the article? if not then please go and digest it carefully.

[Hutzpa]

21. K&R

darn i'm kicking my own post.


:kick:

[sinkingfeeling]

22. This is news to you? I believe one of the reasons behind Bush's little foray into Iraq was

Saddam's mere threat to go to change petro-dollars to euros.

[Javaman]

23. Currently, 70% of Irans oil is now traded in something other than US dollars...

and if anyone has any doubts about us bombing Iran, I have a bridge to sell you.

[Theres-a]

28. Can I pay in dollars?

:hide:

[gateley]

46. I've heard that's why we really went into Iraq -- Saddam was going to start

trading in Euros.

It's always oil and it's always money. Always.

[Javaman]

52. Saddam was already trading in Euros. that upset a number

of poppy's friends.

[gateley]

53. That really is the best explanation I've heard for the invasion. Like there's a

"best explanation"! What am I saying?

[info being]

29. The US government can only continue operating as long as...

...worldwide investors keep borrowing to support the deficit. At some point, investors will stop buying Treasury Bonds because it will not be considered a safe enough investment. At that point, the military-industrial machine will be unable to finance itself and the ugly beast will begin to starve.

I only wonder what it is capable of...whether this fucking system will collapse peacefully as did the U.S.S.R., or whether it will be deadly and messy.

[historian]

31. hey dont be surprised

In 1973 after the dollar was removed from the gold standard it crashed completely. I was in europe at the time and no one wanted dollars. So there tons of american kids with dollar bills up their rear ends unable to pay for a hotel or a meal. Its happening again but this time its far more serious. We now have a complete lack of confidence in the USA in general. Not only that but China owns over one trillion dollars in our debt. If they decided to suddenly dump all those bonds on the market, its depression time.
Im not religious but i hope there is a hell and Bush will spend eternity being screwed in the rear end by the entire chinese population, past present and future.

[Catherine Vincent]

32. More and more I wish I lived close to the Canadian border. n/t

[EVDebs]

37. So is this the rationale behind the M/I complex's rush to "do" Iran ?

Another pretext to keep the price of oil (and the dollar) articifically high ?

[Chulanowa]

38. And what happens when a country's economy crashes into a bucket?

The people allow their leaders to overstep their legal bounds and consolidate much power. It happens in third-world nations. It happend in the Great Depression. Some countries luck out and get an FDR. Others get an Idi Amin.

I pray to all the gods that want to listen that our current political climate leads us to another FDR when it happens. And yes, people, it WILL happen. Maybe not tomorrow. Maybe not for even the reasons in this thread. But crashes are a fact of life

[earth mom]

43. Bingo! Next up, North American Union & Bye Bye U.S. of A. & Bye Bye Constitution.

And hello to King George & serfdom for the rest of us! :puke:

[CGowen]

41. That's a 4 year old article

Here is a video on the death of the dollar
http://www.youtube.com/watch?v=zmyvEhU-gmw

I assume he is a DUer
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x56746





Iran wants now Yen from Japan for their oil
http://www.bloomberg.com/apps/news?pid=20670001&sid=aLaColVYu5LA

[upi402]

54. I wonder if Japan will continue to pay Yen to Iran for oil...

from your link;
``What else can Japan do but to accept the request, once the oil producer sent its wish?'' said Hirofumi Kawachi, an analyst at Mizuho Investors Securities Co. in Tokyo. ``The tensions between the U.S. and Iran are escalating, and it's Iran's measure to hedge risk.''
And after Reagan Republicans sold us out to the Japanese in the 80's. How quickly they forget!

[BlooInBloo]

44. End days!!! END DAYYYSSS!!!!!

Woot! Another nickel for me!

[Matariki]

48. Oh Yay! Schadenfreude!!

[gateley]

50. SERIOUS QUESTION - Is there anything that can be done to reverse this?

I don't mean which candidate is the best to do it, which is the worst --

I'm asking if, when a country is in this situation, is it possible to halt the decline and begin turning it around before we're pushing wheelbarrows full of greenbacks to the store to buy a loaf of bread?

Thanks for your input -- I rely on you guys a LOT to help educate me.

[MazeRat7]

83. It will reverse itself in time....

Foreign $$$ will begin to flow back toward the US since they can now buy more of our "stuff" with their currencies. Things like capitol equipment, ipods/computers, energy services, agriculture, etc. Don't forget 1 in 5 US mfg jobs are directly related to manufacturing exports and 1 in 3 are directly related to agriculture exports.

As a matter of fact, the dollar trend mentioned in the OP has reversed in the past 4 days which can be seen at looking at gains in the $$$ against several other benchmark currencies. Granted a 4 day up tick does not mean recovery, however the collective thinking is that big cap companies are poised to do well "due to increased exports" in the 4th quarter of this year and into next.

MZr7

[silvershadow]

51. and I heard someone on TV yesterday say...

that if Hillary gets elected that the entire economy would crash...as if it hasn't already been in a steady meltdown for years now.

[dysfunctional press]

57. you just figured out that we're indebted to china...???

:rofl:

btw- japan owns more than twice as much of our debt than china does.

[Hutzpa]

58. I suppose this can be real funny

why not considering the poor are already being fucked from the back so I can see those who have it being snooty...as in some of the replies, its all about being misguided, distort the truth completely.

[dysfunctional press]

72. what's funny to me, is that you act like it's some big new news...

i would dare say that a majority of the people on this board have been acutely aware of the situation for years.

[Hutzpa]

78. Being aware and

knowing fully are two different thing, you can be suspicious no proof and suspicious with proof of whats going on. You might have known all this was going on but I didn't...so I find it an interesting read/knowledgeable.

[liberalla]

74. That was my first thought too.

"Just came across this article from Russia and was devastated to learn that, the United State is indebted to China big time...."

I've been watching this economic imbalance/meltdown for quite a while. Sadly, many people are just as unaware as Spokane. The govt. has worked very hard to keep the masses numb with fear and terror, and distracted with TV, celebrities, shopping and food.

It is shocking and scary the first time you hear about this and really 'get' it. The thread title US Dollar on the verge of CRASHING! got my attention. I quick clicked on it thinking, what has happened now? is this really it? has the trigger been pulled? Have we finally gone past the point where they can no longer manipulate the markets and keep the economy falsely afloat???

Man! I was relieved to see this was old news and old links.

[Mike03]

59. It's True, but I'm only surprised

That anyone is shocked by this. This has been predicted, written about and documented for at lest four years now.

[Mike03]

60. Buy a designer tie today for $100, and

that is equivalent to stealing $300 from yourself ten or fifteen years from now.

The dollar is losing its buying power. People need to STOP SPENDING and learn how to relax and feel comfortable with what they have.

[Hutzpa]

66. If people stop spending

then the economy will come to a stand still, I don't think thats the solution, one of the ways to stop all this madness is to bring the war with Iraq and Afghanistan to an end and not start another war with Iran as the medias been touting.

[mdmc]

80. that is my plan my friend

:kick:

[tom_paine]

62. Third World currency for a Third World nation

Amerika is seeking it's new level, it's new equilibrium.

[JohnyCanuck]

63. To understand the problems inherent in a debt based monetary system,

(or if you don't even know what a "debt based" monetary system is) watch the video "Money as Debt" (which has received an endorsement from Elizabeth Kucinich).

You can watch it here on Google video.
http://video.google.com/videoplay?docid=-9050474362583451279&q=money+as+debt&total=1331&start=0&num=10&so=0&type=search&plindex=0

Or purchase the DVD from their web site.

Elizabeth J. Kucinich, monetary reform activist partner of
Congressman, and US Presidential aspirant, Dennis Kucinich (D-OH)

"I have worked for a long time looking into monetary reform and after 10 years, finally someone has produced a DVD entitled "Money as Debt". It is a fabulous fun yet powerful introduction to the issue of monetary reform. It's the best over view I have seen so far; the best by far. ESSENTIAL! Everyone should watch it!

The topic of DebtMoney is THE issue of our times. It forms the basis to every nation's areas of core material and spiritual concerns such as economic development, employment and environmental sustainability.

If only government officials, civil society organizations, environmental groups, unions and well meaning international development strategists trying to eradicate poverty really understood this topic... the world would be a much better place.

Only 47 minutes long, this DVD is ideal for public education in schools, colleges and universities, as well as individual or family viewing, with lots of juicy re-useable quotes from prominent bankers, economists and presidents."

http://www.moneyasdebt.net/

[Dark]

65. As long as the U.S. holds one-third of the world's GDP and one-half it's wealth,

the rest of the globe isn't going to let us fall.

'Cause, economically, we'd take them down with us.

[Hutzpa]

67. Yeah, keep living in

la-la-la land, maybe you'll wake one day and its gold everywhere or diamond, its possible.


:sarcasm:

[nadinbrzezinski]

68. The EU economy is almost our equal now

they won't suffer as much as you think

In fact, we are in late stages of empire failure

It will be nasty

But don't let the real economy hit the meme that you repeat

[nadinbrzezinski]

69. This slow moving train wreck has been ongoing for the

last at least 48 months

[JCMach1]

73. Since 2000... * began turning-off and pushing away foreign investment

with his economic and foreign policies.

It will take a Democratic President to turn things around though. For that to happen it will take the following:

1. A rising interest rate environment... This won't happen until after the housing bubble has been digested.
2. The U.S. budget has to be brought under control. That most likely would mean the end of the Iraq conflict and no further expansion of tax cuts.
3. Foreign policy must be conducive to bringing capital flows back into the country.
4. About 12 months from now, the US will look like a good place to park your money. Also, exports and manufacturing should start to spike on the weak dollar.

I see the the dollar turning around in the next 12-15 months barring anything insane like say an invasion of Iran and the disruption of oil supply.

[Hutzpa]

85. Key sentence: Baring anything insane

like an invasion of Iran, thats the scariest part.

:scared:

[garybeck]

75. Dude, it's not on the VERGE of crashing. Just look at this:::::::>>>>

[Hutzpa]

77. What in the world is this?

oohhh.....I get it....you're trying to debunk my story....lol, you seem misguided and are trying to mislead everyone else, but its not going to work right! you piece together an art work-which by the way is pretty good and expect me and the rest to buy into that shit....think again friend/foe.


:evilgrin:

[garybeck]

79. Wha?

I'm not trying to debunk anything, bro. I just posted a chart showing that the dollar is already crashing and has been for 5 years. I didn't "piece together" any artwork. Those are the facts my friend. Dude I'm on your side, I just am trying to point out that it's not on the verge of collapsing, it's in the middle of collapsing.

[Spazito]

84. When gold goes up it means investors have lost confidence in

the dollar and are buying gold for security. The above poster was re-enforcing your points in the OP not debunking it.

[dave123williams]

81. You should probably watch this:

http://www.youtube.com/watch?v=S9Ecd6361Ls

[CGowen]

86. very funny, thanks n/t

[Baby Snooks]

88. The China of George HW Bush

Nixon's policy towards China was most likely the result of "national security interest" policy as promoted by the Bush CIA and people don't realize that the Bush CIA was in place long before George HW Bush became director in 1975. It was put in place by his father Prescott Bush.

After the disaster of the Nazi Party and Hitler, they just decided to "do it themselves." And seem to have done quite well doing it themselves.

They could care less if the dollar crashes. Most of their dollars are probably eurodollars at this point anyway.