The Destruction of the US Dollar

POSTED BY: JaynezTown
UPDATED: Thursday, October 16, 2008 00:43
VIEWED: 21107
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JAYNEZTOWN

Sunday, July 6, 2008 3:23 PM

Anyone think there is a possibility of the Dollar imploding in the next 3 years?

Im talking about the logical perspective here and not some wacky political stuff on Bush, Kerry etc etc

If you stick to the facts, the price of oil, the rates of the US currency, food inflation, the jobless numbers, the debt levels. And take these kind of factual figures into account the Dollar does not look healthy anymore

JAYNEZTOWN

Sunday, July 6, 2008 3:27 PM

I have come to post online today to warn people who have savings in cash the worst is not over yet

and for a long time many fellow Browncoats, the CNN/Fox/BBC Financial advisers and Economic people have warned
well we're doing the wrong during a definite slowdown! I know debts were involved in creating the Depression in the '30s, a less middle America has not learned. There were American people owed money on stocks, yet the stocks were worthless so people defaulted, resulting in bank failures and people losing just about everything they had including their homes and almost the clothes of their backs. Why has the dollar been falling like a rock, this is partly down to the insane spending in the Whitehouse, run a deficit long enough and it becomes less attractive to buy your currency.

Food prices are going through the roof, even Milk is becoming that The White Gold - and Oil prices have risen from 30 bucks a barrel to over 120 bucks a barrel and they are still rising every day
Oil is rising to insane levels. We might have already reached peak oil and all oil wells, oil fields and oil provinces are exposed to a phenomenon called decline. With the growth of China and India the world now consumes over 29 billion barrels of oil per year plus there is big political unrest in producing countries sitting front seat to the Iraq war allowing speculators to drive prices through the roof. The Whitehouse needs to cutback on over spending, it is not smart for them to allow the Arab states and China to accumulate so many US dollars in their banks, giving them leverage over us. The the depreciation of the US$ $ $ has contributed to the rise in oil prices with countries like Iran making threats to price Oil in the European currency Euros instead of dollars. Debts in Washington are too high and we are giving more control of our economy to the Saudis and the Chinese.

If you have savings you should move them out of dollars and into other areas. Moving into commodities is a defensive asset, so this tends to rise when other things like your currency goes down. The collapse of the US housing market forced an entire sector of the financial world to suffer vast losses. Other Economies of the world also feel the pain because the less the US trades, the less money Japan, Europe, India, China also make because of loss the the US - this is a global economy. The Fed's recent freak out wasn't so much at the housing crises or the subprime itself.

The Fed freaking out was about the risk of cascade failure in the financial system and remember US citizens do not own our central bank it is a bank with a lot of private individuals behind it. Lessons are to be learned from the Asian markets, the Japanese also faced a housing bubble and lost a decade and a half because of companies going bankrupt, scandals and their Japanese banks facing pain, the Japan stocks Nikkei are at about a third of the level they were at 19 years ago. The DowJones is in trouble, I see the DJ stock index was over 14,000 last year, so it has come down since then. One idea is to change your dollars for Gold, Corn or Copper or selected currency that look strong like the Swiss Franc and this will help protect your money in the long run. Its not only you who feels the pain the average standard of living for each US citizen has dropped considerably since Y2K and the super rich have gotten richer at the expense of the middle class. Things must be altered, pushed in a better direction in the next months otherwise everything will be sacrificed in order to protect Washington's ability to borrow from powerful nations abroad, giving them even more power over our future.

FREMDFIRMA

Sunday, July 6, 2008 5:00 PM

Just make sure NOT to put that shit in a bank, or even a safe deposit box.

Not-So-Safe-Deposit Boxes: States Seize Citizens' Property to Balance Their Budgets
http://abcnews.go.com/print?id=4832471

I got burned by Old Court, I will *never* trust a bank to handle my funds again, not after having them drop the barriers and refuse to give me MY money.

Got nailed again by Signet, savings account closed for "lack of activity" while I was in Basic/AIT and there went some MORE money.

Fuck em, never again.

And if you think I trust my stuff anywhere that's out of my immediate reach and custody, you'd have to be nuts.

Money for Nothing
(A good HARD lesson in keeping custody of your own valuables!)
http://news.silverseek.com/TedButler/1193161018.php

Make damn sure that, when push comes to shove, your resources will BE there, in YOUR care, not in someone elses "vault" that doesn't really exist since they've long sold it - not on paper no one will honor when the chips come down, and certainly not in a bank which will drop the barriers and steal it to pay their own debts, hell no.

http://en.wikipedia.org/wiki/Savings_and_loan_crisis

Read my Sigline, curse it - history IS repeating itself, and THIS time around do NOT make the same dumbass mistakes of trusting a financial institution, or the Gov.

The FSLIC imploded when the markers came in, and those poor stupid ignorant foolish assholes who believed it protected them got nothing but a royal reaming.

The FDIC is every goddamn bit as insolvent if not more - so do you REALLY expect a better result this time around.

Not that I care, I am just sayin, don't be fuckin stupid - these assholes cannot be trusted, and if you place your trust, and your resources, in their hands, well, you deserve what happens.

Having delivered that warning my conscience required, I've nothing further to offer on the topic.

-Frem

It cannot be said enough, those who do not learn from history, are doomed to endlessly repeat it

CHRISISALL

Sunday, July 6, 2008 5:42 PM

Silly JaynezTown, why all this alarmism? AURaptor has already assured us that it's just a smallish downturn, and that we're all safe, financially speaking.
Peeps just gotta stop trusting their own observations & conclusions. That's what leads to societal collapse.

Chrisisall

PARTICIPANT

Sunday, July 6, 2008 5:45 PM

We have forgotten two lessons

the lesson of corrupt banking from the first great depression

and the lesson of energy supply from the 1970s Oil shocks

We need Energy-Independence

Every time we use energy or buy gasoline - 400 billion dollars goes overseas to Middle Eastern states that have people who are increasingly hostile to our way of life

Independent Energy and Freedom from Oil Cartels

Our power needs to be backed by Nuclear or Solar or something that can provide us our own needs, otherwise we can end up being chained up by Oil Sheiks

Is an issue of Economic Security and National Security

JAYNEZTOWN

Sunday, July 6, 2008 6:51 PM

Quote:
Originally posted by chrisisall:
AURaptor has already assured us that it's just a smallish downturn, and that we're all safe

Watch this U-video,

its not just Housing or Iraq that is causing the dollar to sink
through many areas of over-spending the US could face a Financial crisis

There are other huge burdens besides to dotcom bubble ending, or the housing sector or Haliburton stealing money from our taxes to rebuild Iraq. The United States government is over spending not just in one area but in multiple areas like Medicare, failure in preparing retirement of baby booming generation, social security and if things are not acted upon in the next 3 years this could be the start of a financial tsunami

Watch this youtube

The Whitehouse is living beyond its means and US Immorality will the lead the Dollar to Bankruptcy

The American people cannot continue to consume $795 billion dollars more each year than the economy produces at home. The risk of a dollar collapse is never far away with debts at these levels. Un-pegging the Dollar from Gold and setting it to the value of Oil might have been the biggest mistake. During the Nixon and Vietnam years the Coinage Act provided the death sentence for anyone convicted of debasing U.S. coins and today the Dollar is backed up by NOTHING. The U.S. dollar, in terms of gold, has been devalued by 80%, or looking at it in another way, only 20% of the dollar's value remains. The Saudis and Asian central banks are trapped between the necessity to lower their dollar reserves, the need to buy dollars to keep their local currency stable and eventually to buy dollars when its rate is in danger to fall on the global currency markets, but if push comes to shove they might dump their dollars for another currency like European currency Euros. Iraq knew how much this was costing them so they decided to dump the Dollar. At time time the Euro was pretty worthless, it was weak and people saw the currency as monopoly money. Saddam’s switch to the Euro on in 2001 made him a lot of cash, the Euro started to become stable and strong and teher was even talk of it replacing the Dollar as the Global Currency but this all ended with the US invasion in 2003. It might not be fair to compare our current situation to the First Great Depression or the Oil Shock of the 1970s but many of the problems that sank the Soviet Union now endanger the United States of America. BinLaden's plan was not to win the war but to bankrupt the US economy. Over Spending is hurting the US Economy and like the Soviet Union in the late 1980s, it has a huge, well-equipped and very expensive military bogged down fighting Muslim freedom fighters in foreign lands. Also, an unstable currency and energy shortfalls linked to peaking oil production and horrendously unfavorable capital account and trade balances is resulting in runaway foreign debt, selling off our nation to places like China and Saudi Arabia.

MIIKE

Sunday, July 6, 2008 7:03 PM

i intend to burn my money as it is more usefull now as a fuel than as currency .i have also found other uses for the dollar as insulation for attics and toilet roll plus when added to water makes a great paper machee which can then be turned to infinite usess from hats to car body work .the dollar due to its abundance will soon be able to power cars by combustion engine and is a lot cleaner than oil to the enviroment .the dollar providing power for our future

im just going out,i may be some time

JAYNEZTOWN

Sunday, July 6, 2008 7:29 PM

Quote:
Originally posted by miike:
i intend to burn my money as it is more usefull now as a fuel than as currency .i have also found other uses for the dollar as insulation for attics and toilet roll plus when added to water makes a great paper machee which can then be turned to infinite usess from hats to car body work .

That sounds ridiculous and far fetched

Israel Comedy show

but it has happened, in post WW1 Germany the Kaiser (king) lost his power, during the Weimar period Germans suffered from inflation and German housewives started to burn money as fuel. The Banknotes of Zimbabwe have collapsed thanks to dictator Mugabe and his thugs and people also watched in horror from 1999–2002 as Argentine currency imploded during the economic crisis. The collapse of the US dollar is going to have much greater impact on the global economy and international political landscape than the collapse of the Argentinean peso ever did. Today OPEC nations and China have already been discussing about diversifying their sovereign wealth funds and other nations are talking about the Euro becoming the world's reserve currency. The Whitehouse is in a bind today. If they lift interest rates to try and support the dollar, it will increase the size of the US budget deficit, plus increase the possibility that the economy would go into a tailspin. The level of personal and corporate debt in the USA has sky rocketed so much, that a sudden increase in interest rates would likely bring about an economic collapse. Either way, unless we act fast in the next 3 yrs America is in deep trouble.

MIIKE

Sunday, July 6, 2008 7:36 PM

yeah i know that 'that was like the bad taste joke. first saw paper money with low value being used for other things in eygpt as all their money was paper the lowest note i think 10 paisa or something was being used by the locals as cheap toilet paper so when getting change i would always tell the locals to keep it.but really being alarmist will actually deflate the worth of the currency espesially if a lot of people put their money in other assets this will deflate the value the best way to help a country out of recession is for the people to spend spend spend

im just going out,i may be some time

MIIKE

Sunday, July 6, 2008 7:54 PM

just saw the isreali comedy thing it was quite funny till the rather shocking portrayal of condi rice i mean thats a pretty low impression in my book and border line racist or maybe im a bit too sensitve sometimes i dont know

im just going out,i may be some time

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