The US dollar is DONE!

Originally posted by Threadfall
America remains the strongest economy in the world

Nope. The EU moved to the top spot, knocking the US down to 2nd.

Originally posted by Odessit
Well looking at the stock market right now, the dollar has risen quite a bit, so in the 3 upcoming months, the value of it will be raised.

The market is being manipulated and is being artificially kept alive. The US is now on emergency life support (meaning, your government is keeping it alive). I'm hearing national guard and reserve troops are being called here yesterday and today and told to get ready for an extended deployment to the middle east. No dates given, just to be ready at a moments notice. ?

reply to post by Divinorumus


I bet 90% of the people on here who are predicting the death of the US have never had an economics class in their lives. The dollar can be saved and it is in the paramount interest of those who have put it on this road to save it.

I would say that the biggest culprit in the decline of the dollar is the Chinese. They have enabled America to rack up huge trade deficits by keeping their currency artificially cheap, which is terrible for their economy, but what do they care? they are communists. Furthermore, it is my understanding that they have huge tariffs on goods coming into their country, which would penalize American imports.

The Chinese had better help save the American dollar, because their economy is sunk if they don't.

reply to post by dave420


EU is just an abstract concept that means nothing. The member nations fight like cats and dogs all the time.

I have not read all the replies, but i am putting my thoughts...

If you check 5 year history of Dollar vs any major currency... Pound or Euro or any other, you will see decline... and this is sharp during 2008...
I am very positive that Dollar will shoot up again... but not sure if it will keep falling in the coming years... some people are saying this recession eve if not severe will have impact for next 2 years...

this will surely bring world depression... hope that it be not very bad...

No US dollar is not done yet... but somebody needs to take care of it (because George Bush is not capable of)


[edit on 18-3-2008 by communicator]

reply to post by chromatico


You may be right but please check the declining Dollar from last 5 years... good place to start is yahoo finance

It Is Not as Bleak as it may seem with a little foresight and courage to look into your own intelligence and do what you know needs to be done so that you do not go down this road unprepared.
It is not to late to hedge your funds into other monies, you can still at no cost to you take at least half of your dollars and place them into the foreign currency of your choice. You can buy gold and yes silver which will be a great asset to you in the crunch.
It is time to grow up and take responsibility for your own future. Don't turn on the tv and listen to the talking heads as they lie to you, no take steps now to protect what you do have.
Prepare to have food set aside for the near future as well and do what you need to protect it. Do this and it will be survivable.
God Bless America

The dollar will be allowed to crash.
America will default on all her debt, (castrating the growing millitary menace of China without fireing a shot).
The North American Union will be adopted.
And i will retire to the new state of Cancun.
Brilliant!

Originally posted by Divinorumus
And when that day comes, the payback begins. Soon, the US will have to settle up this debt it owes the world, and the only thing they will have to offer are her slaves (you all) and her lands (your homes). Then global justice will prevail.

Yeah, that or we just divide the world, 50/50 with Russia and call it even.

Better start building up your country's nuke arsenal, or there won't be many "collection" options.

I'm mostly kidding, by the way.

[edit on 18-3-2008 by 27jd]

reply to post by stumason

conspiracy wise-----money is power-----the more money the more power-------surely you realize that the usa and england/ british commonwealth countries are the 2 groups of countries that speak the same language and that fought along side each other to defeat the enemy in ww1 and ww2 !

Originally posted by scrapple

Originally posted by Blaine91555
We survived Carter...

[edit on 3/18/2008 by Blaine91555]

Care to reflect on the interest rates at that time - kinda bearish was it not?
But Vietnam was Carter's war - so its only right he had to pay for it.

Funny how Stagflation always seems to leave a funny taste in peoples mouths.

Over 20% on mortgages and inflation topping 10%.

"Vietnam was Carters war"????????????????? I don't follow. The big problem at the time was incredibly high taxes on the wealthy and no incentive for investment due to them. Due to that there was no new job creation and hence the stagnant economy. Then we get hit with an incompetent President who did not have a clue. He bought the Whitehouse. A historical first and a terrible mistake. All talk and no substance or even experience.

Don't get me wrong here; I don't subscribe to either party and we have a real dilemma on our hands right now. Not a single qualified person running for President at a bad time. If I were totally honest here, I think Paul would have been the real Carter Clone. (covers up head and waits for the shrieking to stop)

reply to post by Attari


Going back to the OP having read through the whole thread, it seems there is a bit of paranoia in evidence here, guys. The usual 'it's all a great conspiracy by the NWO to enslave us' crowd seem to be out in force. Maybe. We'll have to wait and see, won't we?

The truth is, the US$ is not likely to either devalue to the point where it's worthless nor is it likely to disappear into the Amero yet (the US economy is so much bigger than that of Canada and Mexico combined that it would dominate the north American economy and determine the value of the new currency anyway).

All that's happening is an adjustment. The US economy is in slow relative decline to other major global trading blocs and no longer dominant, though still important and likely to remain so for many decades ahead.

Some predicted as long ago as 1990 that the US$ would lose its reserve-currency status in the C21. This process is starting to happen and by about 2030 the Chinese Yuan or the Euro may well have replaced the $ as the global reserve currency. This will not be a disaster, least of all for Americans, just another evolutionary step in the global economy, like the GB£ losing reserve-currency status to the US$ a century ago.

China is already the biggest manufacturing power on Earth by some margin, and heading towards lead economy status. The thinking behind the Euro project was simply to hedge against smaller, fragmented European economies being kicked around by China, India and other large emerging economies as the C21 develops, by making a bigger and more powerful trading block with a unified regulatory framework and no internal borders. Very sensible. Sensible for North America to go the same way too - particularly as there are only 3 economies involved, not 22 as in Europe.

I can agree in large part with some of the analyses posted by other members in this thread as to the reasons why the US economy has been heading downhill for some time and made this adjustment necessary - 'we are addicted to cheap Chinese manufactured goods', etc. I am surprised though, that the 2 most obvious factors which may be ruining the US economy have not been discussed much:

1. The enormous military spending - how many trillions of $ annually are poured into this black hole now?

2. The even more gigantic drain on the national budget used to covertly fund all the 'black projects' allegedly in the interests of 'National Security' and documented so extensively and in such detail by writers such as Richard Dolan (not promoting his work just because he's a friend of mine, but he really has done a lot of research and has all the numbers in some detail)

China, and to a lesser degree Europe, do not waste this kind of money on military projects. They spend some, but are not in the same league as the USA. Sooner or later, this is going to drain an economy and start to have an effect. As an example, unique amongst the world's 'developed' nations, the US can't even afford a free-at-the-point-of-use universal healthcare system for all its citizens - the money is all used up by the military spend. (I am not always a fan of Michael Moore, but if you haven't seen 'Sicko' you have missed his career-best work, so see it. It's entertaining too.)

Just a slow change, guys. The US$ will stop sliding and will recover somewhat. But it is unlikely to ever be the dominant currency it once was. It'll be one of three or four major global currencies, and lose its special reserve status. But there will be no apocalypse. The underpinning is too strong.

Don't worry, American cousins. It'll be a bit rocky for a few months, but all will be well. You'll see.

Originally posted by chromatico
I would say that the biggest culprit in the decline of the dollar is the Chinese.

Wouldn’t a massive consumerist trade imbalance, exportation of jobs, degraded educational system, uncontrolled deficit spending, criminal deregulation, (FED) economic manipulation, an endless outsourced war and a nasty fossil fuel addition - have some initial culpability prior to those crafty Chinese?

Originally posted by Divinorumus

At some point in time every nation the US trades with are going to wise up and stop accepting that worthless US funny money for their exported goods and services. And when that day comes, the payback begins. Soon, the US will have to settle up this debt it owes the world, and the only thing they will have to offer are her slaves (you all) and her lands (your homes). Then global justice will prevail.

We are the customers who are responsible for the wealth of the nations we purchase our products from. We stop buying and their economies collapse. No customers = no manufacturing or services needed = no jobs = a return to the Third World abyss they just came out of. This is a World Economy not a local one. China would see a financial collapse like the world has never known if we stopped buying for even one month. The same can be said of many economies around the world. It is all interrelated.

On 1 January 2002 euro notes and coins became legal tender in the 12 countries of the eurozone.

They have a combined population of 304 million.

On 1 January 2002 they switched to using euro notes and coins, ending the use of their national currencies in shops and banks.

news.bbc.co.uk...

The stock market downturn of 2002 (some say "stock market crash" or "the Internet bubble bursting") is the sharp drop in stock prices during 2002 in stock exchanges across the United States, Canada, Asia, and Europe. After recovering from lows reached following the September 11, 2001 attacks, indices slid steadily starting in March 2002, with dramatic declines in July and September leading to lows last reached in 1997 and 1998. The dollar declined steadily against the euro, reaching a 1-to-1 valuation not seen since the euro's introduction.

en.wikipedia.org...

2000–2003: Early 2000s recession (exact time varies by country)
2001–2005: United States housing bubble (part of the world housing bubble)
2001: US Federal Reserve lowers Federal funds rate 11 times, from 6.5% to 1.75%.[10]
2002–2003: Mortgage denial rate of 14 percent for conventional home purchase loans, half of 1997[31]
2002: Annual home price appreciation of 10% or more in California, Florida, and most Northeastern states.[citation needed]
2004: U.S. homeownership rate peaked with an all time high of 69.2 percent.[33]
1997–2005:Mortgage fraud increased by 1,411 percent [34]
2004–2005: Arizona, California, Florida, Hawaii, and Nevada record price increases in excess of 25% per year.[citation needed]
2005–ongoing: United States housing market correction ("bubble bursting")
2005: Boom ended August 2005. The booming housing market halted abruptly for many parts of the U.S. in late summer of 2005.
2006: Continued market slowdown. Prices are flat, home sales fall, resulting in inventory buildup. U.S. Home Construction Index is down over 40% as of mid-August 2006 compared to a year earlier.
2007: Year-to-year decreases in both U.S. home sales and home prices accelerates rather than bottoming out, with U.S. Treasury secretary Paulson calling the "the housing decline ... the most significant risk to our economy."[4]

en.wikipedia.org...

It is widely believed that increased economic activity caused by expanding housing bubble in 2001-2003 was partly responsible for prevention of full-scale recession in U.S. economy following the dot-com bust.[149]

en.wikipedia.org...


I see the Dot Com crash/9-11 causing a downturn that allowed the Euro to be released almost equal in exchange rate when the cash and coin actually hit the street. I have long been a believer that 9-11 was an act perpetrated in order for this parity.

The current housing bubble seems to be a direct consequence of the FED over-stimulating the economy, to stave off recession created by the foreign policies of the Bush Administration combined with the downturn in the markets. I don't know if the dollar is 'Done', but it does appear that they are doing everything that could to kill it. Even encouraging the madness to continue for as long as possible.

I only wonder if John McCain is still proposing to invest Social Security into the stock markets? Do any of our candidates have any idea how to stop this? Does anyone?

DocMoreau

[edit on 18/3/2008 by DocMoreau]

It saddens me to it to say it, but I have read many blogs and articles and some non-published information, but it seems the evidence is too strong, this is no joke and we better get serious.

To break Americans backs to allow a NAU to form, this recession was manufactured. The foreclosure mess, high debt, lowering interest rate and high oil prices were all planned events to lower the US dollar value. The war was waged to raise the US debt and the oil companies conspired to raise fuel prices. Policies were adopted that aggravated the mass foreclosure situation. The important people in the government on both sides of the isle are part of the conspiracy. The more seasoned veterans saw this coming 6 months ago, but could not stop it. It was already too far gone.

When the major banks start to fall the dollar will collapse in short order. If you see the next bank failing, immediately run to the store and spend everything on food and supplies. You'll need it! You will also see the banks closing their doors and ATMs just before the annoucement to avoid a rush on the banks. Keep cash handy in this event.

When the riots start and the national guard is called out, marshall law will be instituted and the game is over for the people of this nation. The government will start to do what ever it likes including burning the constitution at that time. "For your own good" a NAU will be formed.

When did this start? Several years ago after 911. The new world order saw their chance and since they run all the big institutions anyway, they realized this was the perfect time. As a conservative, I'm sorry to say that President Bush is one of their cronies.

Keep an ear to the ground and realize that pain and suffering is no joke.

Hate to say it to all you doomsayers, but this is far from the end of the US dollar. And while I am at there is no NWO or mind control going on. If anything this will only strengthen the USA. Maybe the government will finally stop wasting billions and billions of our tax dollars on pork programs. Some fiscal responsibility by our government would make America stronger economically than it has ever been. I remember when the stock market crashed during the dot com bubble burst. Although I was not a member of ATS at the time I can only imagine that there were thread about how the USA was going to collapse because of this. Well guess what. It didn't. When economies go up too much over a short time there will always be a correction. And this is a correction, a I am not saying that this is no big deal and that we might not be heading into a recession or may be in one now, I am saying that there is no way the Dollar is done nor is the US economy.

sig:
creditcardwarehouseonline.com...

I personally am tired of all the hatred towards us Yanks. just because our current gov't administration sucks and is throwing us to the sharks doesn't mean we are all bad here. My wife and i had to work our butts off to purchase our first house, there were no mindless idiots throwing loans and credit cards at us at that time. Now because the feds were so frivolous with mortgages and these people are now in trouble they are going to get buydowns. (not sure if thats the right word but I think you get the gist.) So what they are telling these people is go ahead get anything you want and don't worry about paying for it cuz someone else will.
The dollar is in such a sad state because Bush's cabinet has no connection to the everyday american, to busy making all of his yale skull and bones buddies and his campaign supporters rich beyond their wildest dreams. Everytime they lower the interest rate the dollar hits a new low against other currencies, If people don't have any spare money to go blow on useless crap, how does our gov't think this will help? Bush is always patting himself on the back, does he really think he's doing a good job?

Originally posted by eagledriver
It saddens me to it to say it, but I have read many blogs and articles and some non-published information, but it seems the evidence is too strong, this is no joke and we better get serious.

To break Americans backs to allow a NAU to form, this recession was manufactured. The foreclosure mess, high debt, lowering interest rate and high oil prices were all planned events to lower the US dollar value. The war was waged to raise the US debt and the oil companies conspired to raise fuel prices. Policies were adopted that aggravated the mass foreclosure situation. The important people in the government on both sides of the isle are part of the conspiracy. The more seasoned veterans saw this coming 6 months ago, but could not stop it. It was already too far gone.

When the major banks start to fall the dollar will collapse in short order. If you see the next bank failing, immediately run to the store and spend everything on food and supplies. You'll need it! You will also see the banks closing their doors and ATMs just before the annoucement to avoid a rush on the banks. Keep cash handy in this event.

When the riots start and the national guard is called out, marshall law will be instituted and the game is over for the people of this nation. The government will start to do what ever it likes including burning the constitution at that time. "For your own good" a NAU will be formed.

When did this start? Several years ago after 911. The new world order saw their chance and since they run all the big institutions anyway, they realized this was the perfect time. As a conservative, I'm sorry to say that President Bush is one of their cronies.

Keep an ear to the ground and realize that pain and suffering is no joke.

Wow. I would hate to live in the world you live. Looking at the business news today its is not looking so bad. Better than expected profits from goldman sachs and lehman. Dollar is up. Guess the NWO is going to have to wait

reply to post by Blaine91555


Did you not say ,

"We survived Carter. This will be a cakewalk in comparison."

Why do you think Carter had interest rates jack’d to the roof? They were ultimately paying for the previous war (Vietnam) and the nascent protectionism in Japan.

So - I fail to see how the US’s present ‘serve-us’ economy is going to pull a ‘cake walk’ in the coming decade considering the realities of international resource competition, prolonged yet outsourced war, false free market economics and the manufactured opinion of the few over the many.