Destruction of the US Dollar II
POSTED BY: SignyM
UPDATED: Thursday, February 19, 2026 15:30
VIEWED: 12130
PAGE 1 of 10
Carried over from this thread. (It was getting too long)
http://www.fireflyfans.net/mthread.asp?b=18&t=34184
I specifically wanted to reply to this:
Quote:But, I see my lunch time is up, so I'll just leave you all with this link
Everyone seems to focus on blaming the banks and credit card companies for making bad loans and duping innocent people...bah! We teach our children not to take candy from strangers, but then these bad-credit adults go ahead and take the candy anyhow. I don't blame anyone who has lost a job and is having a tough time. It's personal responsibilty that has disappeared in America. There's a third-world mentality out there that drives people to attempt to attain the "American Dream"....The problem is they haven't earned it. They just feel they deserve it, there's a difference.
The Perfect Storm of a Global Recession: An Op-Ed for Project Syndicate
Quote:
NEW YORK – The probability is growing that the global economy – not just the United States – will experience a serious recession. Recent developments suggest that all G7 economies are already in recession or close to tipping into one. Other advanced economies or emerging markets (the rest of the euro zone; New Zealand, Iceland, Estonia, Latvia, and some Southeast European economies) are also nearing a recessionary hard landing. When they reach it, there will be a sharp slowdown in the BRICs (Brazil, Russia, India, and China) and other emerging markets.
www.rgemonitor.com/blog/roubini/253415/the_perfect_storm_of_a_global_r
ecession_an_op-ed_for_project_syndicate
Don't Cry For Me Argentina (Save Your Tears For Yourself)
Quote:
Ambition has its price and the bill is now due and owing. The question is: how will the US pay what it owes? In Hyman Minsky’s Financial Instability Model, the US is close to “Ponzi status” if not already there since the US is having to roll its debt forward and borrow from others to pay the interest as it can no longer pay down the principle.
www.financialsense.com/fsu/editorials/schoon/2008/0825.html
---------------------------------
Any idea, no matter how much you may agree with it, can be radicalized and employed as an excuse for violence. There is no such thing as a righteous or untouchable philosophy, and when you start thinking that there is, you have become an extremist.- Finn Mac Cumhal
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Quote:
Originally posted by SignyM:
Carried over from this thread. (It was getting too long)
http://www.fireflyfans.net/mthread.asp?b=18&t=34184
I specifically wanted to reply to this:Quote:
Everyone seems to focus on blaming the banks and credit card companies for making bad loans and duping innocent people...bah! We teach our children not to take candy from strangers, but then these bad-credit adults go ahead and take the candy anyhow. I don't blame anyone who has lost a job and is having a tough time. It's personal responsibilty that has disappeared in America. There's a third-world mentality out there that drives people to attempt to attain the "American Dream"....The problem is they haven't earned it. They just feel they deserve it, there's a difference.
The Perfect Storm of a Global Recession: An Op-Ed for Project SyndicateQuote:
NEW YORK – The probability is growing that the global economy – not just the United States – will experience a serious recession. Recent developments suggest that all G7 economies are already in recession or close to tipping into one. Other advanced economies or emerging markets (the rest of the euro zone; New Zealand, Iceland, Estonia, Latvia, and some Southeast European economies) are also nearing a
www.rgemonitor.com/blog/roubini/253415/the_perfect_storm_of_a_global_r
ecession_an_op-ed_for_project_syndicate
Don't Cry For Me Argentina (Save Your Tears For Yourself)Quote:
Ambition has its price and the bill is now due and owing. The question is: how will the US pay what it owes? In Hyman Minsky’s Financial Instability Model, the US is close to “Ponzi status” if not already there since the US is having to roll its debt forward and borrow from others to pay the interest as it can no longer pay down the principle.
www.financialsense.com/fsu/editorials/schoon/2008/0825.html
---------------------------------
The innocent have been duped...
Folk will have to wake up from their American Dream , and begin to educate themselves...
The truths have been hidden for too long...The Banksters have robbed the True Wealth of this country for nearly a hundred years , and have been at their scheme for much longer than that...
How long can we continue to borrow 3 billion A DAY from the rest of the world to cover the interest on the Debt that the Banksters and CONgressmen have given Us ? Not much longer , really...
Good work finding Roubini's newsletter , SignyM...
Better still , the second link...Some awesome truths in that one !
Example :
" Fisher stated:
...'In the distance, I see a frightful storm brewing in the form of untethered government debt. I choose the words—“frightful storm”—deliberately to avoid hyperbole. Unless we take steps to deal with it, the long-term fiscal situation of the federal government will be unimaginably more devastating to our economic prosperity than the subprime debacle and the recent debauching of credit markets that we are now working so hard to correct.'
Fisher should know what the US owes and the danger that sum represents. As President and CEO of the Dallas Federal Reserve Bank, Fisher is a part of the Federal Reserve
System—the very system that has indebted America into perpetuity when its credit-based money forced out gold and silver based money in 1913.
But in his speech Fisher said nothing about the role the Federal Reserve has played in America’s fatal dance with debt, warning instead about the increasing costs of entitlements such as Social Security and Medicare.
Fisher is part of a larger effort to now blame America’s entitlements as the primary cause of our problems, assiduously avoiding the role his own Federal Reserve Bank has played in sinking our once wealthy nation into perpetual indebtedness.
In truth, the entitlement program that poses the greatest threat to America is—and always has been—the Federal Reserve System. "
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Good idea to start a new thread the other was WAAAAYY TOOO LOOONNG
Some good points raised
I don't think the US currency will be totally collapsing, Housing and Iraq and Medicare won't cost that much but the dollar will hurt
it will lose respect people will move out of the dollar and we will see something mixed between the Argentina currency panic and Japan's very long recession where Japanese corruption servilely damaged its status as the alternative economic superpower. The Argentina dream story was something to tell the world but it because a nightmare as the peso sunk, the powerful Japan companies still exist but the people have stagnated and poverty is no all over Japan
Much of the same game happened with Argentina the nation's debt mushroomed, corrupt lenders grew nervous, they owed the IMF and it was a house of cards waiting to fall. Banking failures in the US can scare people, some people old enough think it reminds them of the 1930s and next to be expected is riots will break out. I don't think it's that bad and I hope it never will be.
The difference between USA and them is we have a larger economy than Japan and Argentina combined and we owe the IMF nothing but we are not invincible. We are indebted to the Saudis and Chinese and even Peru has started funding US debt. There is a new credit crisis looming and the US wages and US pensions are actually going backwards. Insane people in Venezuela and Iran are becoming hostile to the US, some want to attack our currency pricing their Oil in Euros. It has been reported the euro, the new currency created only five years ago and used by most European nations and once looking so weak they thought it would only continue being monopoly money has supplanted the U.S. dollar as the most widely used form of cash internationally. There are now more Euros in circulation worldwide than dollars.
This is because Bush has no conservative values
He starts wars, wastes our military power leaving our Army and Marines half broke
and then he starts this wreckless spending stealing money from the next US President to come.
national debt exceeding is now 8 trillion and rising and like a space rocket, other people say watch out as the NYC debt clock will breakdown before the end of the Bush Presidency
To distract us from this economic issue we must fight
people will soon be dazed by a mirage of dumbo slogans like Homosexual marriage, Georgia and Stem-cells
With this kind of stupidity going on I think the Chinese are destined to become this next century's Superpower
We should watch out for Economic warfare from hostile nations like Iran, due to a global groundswell to denominate crude oil sales in Euros, and when that comes to pass, the US dollar will collapse much like the mexican and argentinian peso did.
Don't Cry For Me Argentina!!...
Some of the costs leading to the deficit is the tremendous cost of fighting 2 wars simultaneously including the massive senseless war in Iraq and the result of a failed economy caused by an incompetent President at the helm.
Alan Greenspan keeps warning Bush to get of his butt and do something say the U.S. economy is on the brink of a recession, but the fact is Greenspan also helped engineer these credit and banking bubbles
If we measure the NASDAQ the DOW or the GDP in terms of Gold or a currency like Aussie Dollars or British Pounds then we are in full blown recession , however the corrupt Bernanke has run the printing press to make more dollars out of thin air and create the illusion of growth...all this money BTW has been STOLEN from the next US President so McCain or Obama are going to inherit a pretty screwed up economy
Watch Oil prices go insane as another Hurricane season kicks in and watch some scumbag Islamic lunatic send our gas prices through the roof as they blow up another pipeline
Oil is is becoming a waste of time and energy
We need to move into Wind and Nuclear and this will also block the funding supply to terrorists who get their money from oil states.
Nobody in the U.S. will give our econom
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Friday, July 4, 2008
Something Big is Happening -
' I have, for the past 35 years, expressed my grave concern for the future of America. The course we have taken over the past century has threatened our liberties, security and prosperity. In spite of these long-held concerns, I have days—growing more frequent all the time—when I’m convinced the time is now upon us that some Big Events are about to occur. These fast-approaching events will not go unnoticed. They will affect all of us. They will not be limited to just some areas of our country. The world economy and political system will share in the chaos about to be unleashed.
Though the world has long suffered from the senselessness of wars that should have been avoided, my greatest fear is that the course on which we find ourselves will bring even greater conflict and economic suffering to the innocent people of the world—unless we quickly change our ways.
America, with her traditions of free markets and property rights, led the way toward great wealth and progress throughout the world as well as at home. Since we have lost our confidence in the principles of liberty, self reliance, hard work and frugality, and instead took on empire building, financed through inflation and debt, all this has changed. This is indeed frightening and an historic event.
The problem we face is not new in history. Authoritarianism has been around a long time. For centuries, inflation and debt have been used by tyrants to hold power, promote aggression, and provide “bread and circuses” for the people. The notion that a country can afford “guns and butter” with no significant penalty existed even before the 1960s when it became a popular slogan. It was then, though, we were told the Vietnam War and a massive expansion of the welfare state were not problems. The seventies proved that assumption wrong.
Today things are different from even ancient times or the 1970s. There is something to the argument that we are now a global economy. The world has more people and is more integrated due to modern technology, communications, and travel. If modern technology had been used to promote the ideas of liberty, free markets, sound money and trade, it would have ushered in a new golden age—a globalism we could accept.
Instead, the wealth and freedom we now enjoy are shrinking and rest upon a fragile philosophic infrastructure. It is not unlike the levies and bridges in our own country that our system of war and welfare has caused us to ignore.
I’m fearful that my concerns have been legitimate and may even be worse than I first thought. They are now at our doorstep. Time is short for making a course correction before this grand experiment in liberty goes into deep hibernation.
There are reasons to believe this coming crisis is different and bigger than the world has ever experienced. Instead of using globalism in a positive fashion, it’s been used to globalize all of the mistakes of the politicians, bureaucrats and central bankers.
Being an unchallenged sole superpower was never accepted by us with a sense of humility and respect. Our arrogance and aggressiveness have been used to promote a world empire backed by the most powerful army of history. This type of globalist intervention creates problems for all citizens of the world and fails to contribute to the well-being of the world’s populations. Just think how our personal liberties have been trashed here at home in the last decade.
The financial crisis, still in its early stages, is apparent to everyone: gasoline prices over $4 a gallon; skyrocketing education and medical-care costs; the collapse of the housing bubble; the bursting of the NASDAQ bubble; stockmarkets plunging; unemployment rising;, massive underemployment; excessive government debt; and unmanageable personal debt. Little doubt exists as to whether we’ll get stagflation. The question that will soon be asked is: When will the stagflation become an inflationary depression?
There are various reasons that the world economy has been globalized and the problem
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US Incomes Dropping...
http://news.yahoo.com/s/ap/20080829/ap_on_bi_go_ec_fi/economy
Meanwhile , the Rich are getting Richer...
http://finance.yahoo.com/taxes/article/105638/The-Ranks-of-the-Ultrawe
althy-Grow
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"There can be no legal tender in this country ... but gold and silver. This is a constitutional principle ...
...of the very highest importance."— Daniel Webster
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two pix to consider
Dollar/Euro
from doctorhousingbubble
Quote:
The Euro is the currency of the Eurozone which includes 13 states. These include Germany, France, and Austria to name a few. The dollar was held by 70.9 percent as the official exchange reserve in 1999 by nations while the Euro was held by 17.9 percent. As of 2007, the US dollar is now held by 65.7 percent while the Euro has steadily gone up to 25.2 percent. Clearly the dollar still dominates the world reserve markets but the lead is slowly dwindling. The attractiveness recently of the Euro is that countries have to meet strict requirements to enter the “zone” and a small percentage is actually backed by physical commodities
the power of the dollar
from tehowe.blogspot
Quote:
Do you know how much your money is worth?...
..In order to understand the connection between the contemporary declines in living standards and the rising costs gripping families and North American markets alike, it’s necessary first to grasp the true purpose of the concept of ‘value’: what it is, how to measure it, and how some reliable means of measuring economic activity today is an absolute requirement to lighting the way out of the current credit market meltdown and attendant inflationary crisis. When inflation rises, your dollar buys less.
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Quote:
3 Guesses--Who said it ?
Ron Paul?
Mike
"I supported Bush in 2000 and 2004 and intellegence[sic] had very little to do with that decision." - Hero, Real World Event Discussions
I can't help the sinking feeling that my country is now being run by people who read "1984" not as a cautionary tale, but rather as an instruction manual. - Michael Mock
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No, no no, Kwicko! You did it all wrong! You get THREE guesses, like THIS:
Ron Paul?
Ron Paul?
Ron Paul?
---------------------------------
Any idea, no matter how much you may agree with it, can be radicalized and employed as an excuse for violence. There is no such thing as a righteous or untouchable philosophy, and when you start thinking that there is, you have become an extremist.- Finn Mac Cumhal
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Signy, you're killing me!
I was kind of hoping someone would go "Right - but you still have two more guesses."
:)
The real reason Ron Paul never had a chance was that no one could stomach the idea of the first lady being... Mrs. Paul. Frozen fish for EVERY state dinner? Fish sticks AGAIN? Come on!!
Mike
"I supported Bush in 2000 and 2004 and intellegence[sic] had very little to do with that decision." - Hero, Real World Event Discussions
I can't help the sinking feeling that my country is now being run by people who read "1984" not as a cautionary tale, but rather as an instruction manual. - Michael Mock
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Quote:
Originally posted by Kwicko:Quote:
3 Guesses--Who said it ?
Ron Paul?
Mike
I can't help the sinking feeling that my country is now being run by people who read "1984" not as a cautionary tale, but rather as an instruction manual. - Michael Mock
DingDingDing!!!
Yup , it was 'Doctor No' who said it !
Now , they're getting the gang all together , for 'RonStock08' , and I hear they're even going to sacrifice A COW !
http://news.yahoo.com/s/ap/20080830/ap_on_el_pr/cvn_gop_ron_paul
If wishes were horses , we'd all be eatin' Mrs. Paul's fish sticks , NOPE ,...Steak !
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