Dollar Collapse to Trigger Global Financial Meltdown

Dollar Collapse to Trigger Global Financial Meltdown

www.infowars.com

The father of Reagonomics and former Wall Street Journal editor Paul Craig Roberts has warned that the collapsing dollar will eventually cripple the European economy and may even return the world economy to a barter system as financial chaos ensues.

(visit the link for the full news article)

I was listening to the latest Alex Jones radio show and whatever you may think of Alex, he had a guest on who said that within 60 days we would see the collapse of the US economy and possibly a return to a barter system.

So lets assume this is true. The crash is coming within 60 days. What can people do to try and survive it and what will the immediate consequences be for the US society? Will there be hunger and starvation, leading to riots and Martial Law? What do you think?


www.infowars.com
(visit the link for the full news article)

[edit on 10-11-2007 by Copernicus]

Cities would be the worst off. No options for food and such.

But more curious to me might be what would transpire in the Eastern Hemisphere without our 'leadership'? Ya know, Pakistan, Afghanistan, Iraq, Iran, Israel, China, India, Libya, Egypt........

The funny thing for me is that he sees trouble for europe at first hand and not for the USA. At the moment Europes industrie drives very wealthy despite of the low US dollar. They are alerady used to that and adapted according. Sure Europe will suffer from the cut in exports to the USA. USA however are not the only one that imports products from Europe. So there will just be less money made in europe less jobs build etc. Economy goes down but that doesnt mean it kills it all.

USA on the other side however will soon have no imports at all from no where. Europe can not sell their products below the value and therefore will eighter not accept payment in dollars in future anymore or adapts the price in dollar to at least match the production costs (raw materials in doller will cost more also) and this will be the same for the rest of the world.
That let's USA dry because they can not pay it. China will order their money back because the fall of the dollar is a lose for them.
USA will have no money and no imports anymore. Not less. none.
If this isn't a much larger problem than the one in europe then I don't know. So why does he speak about a problem for europe and not USA?

But beside that.. yes I share the view that the dollar will collapse. I don't see what could stop the dollar from falling. Really something to worry about worldwide.

But then when something is certain it might all come complet different..you never know. We will see.

The dollar will collapse soon? That's good news!
Nice attempt to frighten us (we Euros) but i ain't that afraid.We've seen worse over here.
If we need to go on "diet" for a couple of months, then let's go for it.
I guess this perspective doesn't suit the needs and/or projects of americans.
The faster this empire collapse, the faster a new world begin.

"If their bad bets were marked to market, Citicorp and Merrill Lynch would be declared insolvent. Why? Because they are insolvent – right now. The meaning of insolvency is straightforward: their losses exceed their capital. Recall that these firms list assets of $100 billion (or whatever) but their actual net capital is on the order of 2.5 per cent to 5 per cent – a mere sliver of their stated assets. In other words: a 5 per cent loss of their stated assets wipes them out. The game is now over, and the players shuffling losses can only last a few more days or weeks."

www.lewrockwell.com...


I feel truly bad for all of us. But we let the Banks and Money Grubbers who run them do it to us. We didn't know the History of our own nation and the Revolution we fought against the Central Banks in Europe which birthed this nation. Therefore, we were doomed to repeat it.

Edit to add: I do not think that America losing its ability to Consume things will necessarily 'melt down' the rest of the world. The populations in Asia are perfectly capable of 'Consumption'. They're much, much larger than our population.

[edit on 10-11-2007 by HimWhoHathAnEar]