Nations Abandon US Dollar - Fear Of Collapse

Nations Abandon US Dollar - Fear Of Collapse

en.wikipedia.org
(visit the link for the full news article)


Related News Links:
www.brillig.com
en.wikipedia.org
www.treas.gov

Foreign Nations can smell the rotting US economy. The US Dollar is ridiculously over-valued and is doomed to failure.

en.wikipedia.org
(visit the link for the full news article)

The Federal Reserve invites the countries of the world to buy up the interest in out National Debt which is called Federal Reserve issues also known as key fields. This is ridiculous and should never have been allowed by our government for these central banks to do this!!! It is not just the Countries themselves that buys the interest to our debt it is these countries central banks. The two biggest buyers of our Debt are China and Japan both make up a total 44% of what they buy. In all there are 27 countries that have brought up the federal reserve issues. American people need to understand this is money that we have to pay back but can't due to the fact that the American dollar is worthless. Under President Bush Jr. the U.S. dollar has lost 41% of it's value.IF YOU add the domestic national debt($10 trillion) plus the foreign debt (about $43 trillion) that puts America's debt total to $53 trillion dollars!!!!! If the countries of the world no longer use the U.S. dollar as the world Reserve currency this will have a CATASTROPHIC EFFECT on our economy that will crash our economy and will put us in a depression that will make The Great Depression from the 1930's look like SESAME STREET!!!!! With this dam Bailout it will definately destroy our economy. American people both White, Black, Hispanic, Asian need TO WAKE UP, GET INFORMED and EDUCATE themselves so that they will know the truth and we all can ban together and demand change in this country even if we all have to march to Washington D.C. by the millions and start a Revolution!!!!!!!!!

Peace and love,
T.R. Scott

T.R.

I call complete and total BS on your part. You completely butchered the quote from wikipedia. The many countries you listed said this in 2006. Here is the correct quote...

"In 2006, the central banks of Italy, Russia, Sweden, and the United Arab Emirates announced they would reduce their dollar holdings slightly, with Sweden moving from a 90% dollar-based foreign reserve to 85%. [39] On May 20, 2007, Kuwait discontinued pegging its currency exclusively to the dollar, preferring to use the dollar in a basket of currencies.[40] Syria made a similar announcement on June 4, 2007."


Big difference when you take it in context. Trying to stir up more fear when we have enough already.

[edit on 19-10-2008 by vonvitt]

wikipedia????

anyone can edit that

that should never be the source....ever

reply to post by ModernAcademia

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That is such a stupid arguement. I hate it when people use that. Wikipedia is just a collection of information from other sources. The information has [1] or other numbers next to it. Click it and find your true source, be it a peer reviewed journal or a government website, .etc. If the article doesn't site sources, wikipedia puts a big fat "THIS ARTICLE DOES NOT CITE ITS SOURCES" up top.

Actually, Wikipedia doesn't generally put a big fat anything at the top, the Wikipedia community does. Also unpegging a currency doesn't mean that your banks are no longer holding dollars The world demand for the dollar is immensely high because of the economic crisis, which has caused deflation and a flight to liquid assets...like dollars.

More current currency News

Whoever created this thread should read more current currency related news.

reply to post by AllSeeingI

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These reports are unfounded, and not credible by any means. Wiki is also a terrible source to be quoting.

Amen, Mr. burxfain.

Additionally, the USD looks to be poised for a full rebound in mid to late 2009-2010, as the US will come out of its poor economic conditions sooner than Europe.

Time, Gentlemen, Time

Please note that this thread was originally started on May 14, 2007, but was bumped today.

Since it's not exactly breaking news, I'm moving it to the Global Meltdown forum.

What do you mean by "I'm moving it to the Global Meltdown forum."? It's already here.

Can you move it to the Weaponry forum? Our tolerance to nerve-wrecking news runs all time low. We've been through hell. Don't you read the news on Yahoo, huh?

Or is this some kind of conspiracy to drive us insane? George Bush doesn't like the Global Meltdown forum -- it makes him nervous. He wouldn't hesitate to use tax payer's money to pay someone here to shuffle topics around the board to induce a collective heart attack on the Global Meltdown contributors.

You think I'm dumb, huh? But I have news for you: I'm not. I know how conspiracies smell like. You ain't gonna fool me, pal.

You should be ashamed of yourself. How can anyone sell our sanity for mere $500 billion? Shame on you!!!

LMFAO!

That party foul aside if the economic data coming out of the US consumer sector comes in far, FAR lower than expected over the next few months - which I frankly think it will - we could easily see a significant weakening of the USD.

I think the biggest surprise over the next few months will be how quickly and sharply the consumer has come to a full plant stop on spending.