The US dollar is DONE!

Originally posted by ford2007shelby
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?

Yeah Bush caused the housing crisis and told all the banks to gamble with subprime loans. You all need to get over the blame Bush for everything mentality. What president has a connection with the everyday american. They are all elitists. That is the way government is. I am not implying that Bush is a great president but to think he is fully responsible for this economic situation is rediculous.

Originally posted by Blaine91555If I were totally honest here, I think Paul would have been the real Carter Clone....

True - if you mean in regards to their exemplary military service as a qualification over their respective frontrunners for being Commander in Chief.

I've wondered about that 3 trillion we've 'invested' in Iraq. I don't know the breakdown for per day costs, but it would be a big bandaid for the economy, for sure. Not to mention that every service person I've spoken to, who has returned and been discharged (big caveat there!) says it is an unwinnable situation without twice as many troops as are there NOW. We don't have the military force to do that. Not without a draft. And I'm pretty sure a draft at this point would be met with...well...let's just say...it would be a bad idea. No reason to impose martial law early, is there?

If China imposes huge tariffs on imported goods, then WE should impose the same amount of tariff on the imports we get from them. AND require that they have better oversight. If that is a violation of NAFTA...fine!

Personally...I just think we should boycott Chinese goods. It hasn't hurt me, much. Although, I have to tell you, you would NOT believe everything China is producing these days! I have to put down more than half the things I want to buy. If the rest of the world can support their growing economy, let them!

I have a migraine. Can you tell?

Originally posted by eagledriver
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.

Eagledriver,

I will fight to uphold your individual rights as best as I can, but that said - if the NWO does exist and they do indeed have a new plan for a 'greater level' of world domination (to me at least it seemed their previous positions were all pretty golden) - I think it is pretty safe to say that their implementation was neither drawn up nor initially implemented AFTER a ‘surprise’ 9/11.

Regards,
Scrap

For America to survive this crisis then remove the "ing" from domineering and put it back in its rightful place at the end of "pioneer" & "lead".

Go back to what made you famous, leading the world forward, pioneering scientific research and discoveries,leading from the front & making the very people the common man and woman of America, making their lives easier,happy, the very people who provide the unsung backbone to America.

America be the America I grew up to wish I lived there when I was a kid, to me a UK boy, America was the world, you had everything it seemed and anything new that came out always seemed to be via America.

Take a step back and breathe, the world will survive whilst you are on a coffee break.

Wolfie

Originally posted by tide88

Yeah Bush caused the housing crisis and told all the banks to gamble with subprime loans. You all need to get over the blame Bush for everything mentality. What president has a connection with the everyday american. They are all elitists. That is the way government is. I am not implying that Bush is a great president but to think he is fully responsible for this economic situation is rediculous.

I tend to believe the words of one of the worlds most progressive investigative journalists in regard to the housing crisis, over yours, no offense.

www.gregpalast.com...

While New York Governor Eliot Spitzer was paying an ‘escort’ $4,300 in a hotel room in Washington, just down the road, George Bush’s new Federal Reserve Board Chairman, Ben Bernanke, was secretly handing over $200 billion in a tryst with mortgage bank industry speculators.

Here’s what happened. Since the Bush regime came to power, a new species of loan became the norm, the ‘sub-prime’ mortgage and its variants including loans with teeny “introductory” interest rates. From out of nowhere, a company called ‘Countrywide’ became America’s top mortgage lender, accounting for one in five home loans, a large chunk of these ‘sub-prime.’

But there was this annoying party-pooper. The Attorney General of New York, Eliot Spitzer, who sued these guys to a fare-thee-well. Or tried to.

Instead of regulating the banks that had run amok, Bush’s regulators went on the warpath against Spitzer and states attempting to stop predatory practices. Making an unprecedented use of the legal power of “federal pre-emption,” Bush-bots ordered the states to NOT enforce their consumer protection laws.

Not all crimes lead to federal bust or even public exposure. It’s up to something called “prosecutorial discretion.”

Funny thing, this ‘discretion.’ For example, Senator David Vitter, Republican of Louisiana, paid Washington DC prostitutes to put him in diapers (ewww!), yet the Senator was not exposed by the US prosecutors busting the pimp-ring that pampered him.
Naming and shaming and ruining Spitzer – rarely done in these cases - was made at the ‘discretion’ of Bush’s Justice Department.

Or maybe we should say, ‘indiscretion.’

It was the night of February 13 when Spitzer made the bone-headed choice to order take-out in his Washington Hotel room. He had just finished signing these words for the Washington Post about predatory loans:

“Not only did the Bush administration do nothing to protect consumers, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents from the very problems to which the federal government was turning a blind eye.”

Bush, Spitzer said right in the headline, was the “Predator Lenders’ Partner in Crime.” The President, said Spitzer, was a fugitive from justice. And Spitzer was in Washington to launch a campaign to take on the Bush regime and the biggest financial powers on the planet.

Spitzer wrote, “When history tells the story of the subprime lending crisis and recounts its devastating effects on the lives of so many innocent homeowners the Bush administration will not be judged favorably.”

I apologize for quoting the article so liberally, but I tried to limit the quotes to the essentials. I understand if I get two lashings for it...

But the reality of the situation is that the Bush Administration caused the economy we are in. When he came into office, Dot Com was bursting, but our coffers had 4 trillion dollars set aside. Bush burned through that, plus the 5 trillion we are now in the hole. Bush also overstepped his power on numerous, impeachable offenses, but instead of impeaching him starting in 2003, we re-elected him, still no impeachment, and this is the economy we are left with. And as you can see in the case of Eliot Spitzer, you 'mess with texas'.

And with that I give you all the Bush's horned Hand sign he loves to give in public, at moments un-befitting any elected official.
DocMoreau

If your money is not accepted, your money is worthless. Soon, not even banks will accept and exchange the dollar because it has become like a crashing stock that no one wants to buy. This is indeed very bad and frightening news no matter how you try to spin it.

reply to post by CyberTruth


Everybody the world over's in trouble if that happens.

Does this mean I'll have to start wearing wooden shoes?

The day is quickly approaching where Humanity will finally be free and no longer slaves to their own misery and laziness. The day when all money is realized to have no backing and no value, when Human responsibility and self ecstacy becomes the currency and when equality isn't something that is strived to be attained, yet simply is seen as what everything always has been, that's the day that we can not escape. The question is: How will we handle this transgression?

And then there's THIS wiseguy.

"On the same day that the White House announced that President Bush is nominating California billionaire Roland E. Arnall to be ambassador to the Netherlands, the company he controls said it would set aside $325 million for a possible settlement of allegations of predatory lending tactics."
--Washington Post, Friday, July 29, 2005; Page D01

He, his wife, and their holdings are the biggest Bush contributors since 2002.

So, he's being investigated by the SEC and is likely to be liable for the largest settlement of its kind. What should we do??

I know!! Let's make him the Ambassador to The Netherlands!! I wondered, at the time, why Bush was saying 'we should not be too hasty' in making changes in the lending market. It became obvious pretty quickly.

If you watched PBS, you would've seen this on Bill Moyers Journal--it was like watching a train wreck. Truly horrible, but hard to turn away. I don't know HOW people can defend Bush.

Yes, I do. They must be doing really well financially!

And, I don't know what that horny hand sign is all about. I just assumed it was a middle aged man's way of throwing the surfer's sign--incorrectly.

reply to post by scrapple


We will have to agree to disagree. I see the real Bogeyman of that era as the out of control Social Service Programs and the overall Welfare Mentality combined with strangling taxes on those who actually produce the wealth. Add to that the stranglehold Big Government types had on Congress and you have a horror story worthy of Stephen King. Thank (insert your Deity here) for Reagan and pray for the next Reagan to come along.

I still get a headache remembering the Mortgage payments that were the same as I pay now on a home worth 3 times as much. I think American Business will do what it has always done so well and this minor slump will be short-lived.

I have sympathy for those who fell for the sub-prime scam, but in the end they should have read the fine print before they signed. Large area's of the Country are yet to be effected. Here for instance. Property has held value and I don't know anyone loosing their homes. The only fallout is people not spending out of worries for what is happening elsewhere. Self-fulfilling prophecies are more worrying than the reality.

In a nut shell if the US dollar collapses, then the rest of the world economy is going to crash as well.

If you think I am joking, just look at all of the countries that hold US debt.

Most of this debt was by design from the cartel at the top.

reply to post by jedimiller


WOW you will get 10 pesos for 1 US Dollar.. Not very good unless cigs and vodka cost less than 20 pesos.

If the US dollar collapses, there will be a world-wide depression. Every country that has accepted US dollars will suffer. From what I've heard, all of these countries, including China, are ready to refuse accepting US dollars. If any single one of them does at any moment all the rest will follow suit. The only reason they don't is because they know it will be a global economic collapse. Nobody wants to accept the dollar anymore, and the global economy is hanging by a very thin thread because of it. If it does happen, though, there will be a mass consolidation of wealth, as happens in all depressions. That right there seems like a motive to me, eh?

Additionally, if the global economy collapses, it would be a superb time to start putting into circulation that global currency from the world central bank some of us have heard of, yes? And actually, it would be the perfect opportunity to put into action any plans any elite have to create a global government. Everyone will be desperate, a world war will probably break out so many people will be dying...I see motives and more motives and more motives. I just hope all this speculation remains as such. I'm not waiting to get prepared for the worst though...

Originally posted by Realtruth
In a nut shell if the US dollar collapses, then the rest of the world economy is going to crash as well.

If you think I am joking, just look at all of the countries that hold US debt.

Most of this debt was by design from the cartel at the top.

I am of the opinion of this man, that this crash was deliberately designed to destroy the old scheme and make room for a new scheme. Perhaps it was also designed to result in martial law (within the US) and world chaos, with the decimation of a percentage of the population, thereby easing the pressure on the biosphere that occurs when a planet has around 9 billion people living. First an economic crash, then a flu, then a war, then some more war, then..

then maybe a few hundred years from now whoever is left learns to never repeat our actions, and the earth lives happily ever after.

reply to post by themillersdaughter


Hell, im still on Active Duty and i'll agree with that. The thing is that we are so far deep into it that we are damned if we do, damned if we dont. I will be interested to see if the next administration just washes its hands of everything and says screw it. Its high time we employ a much more isolationist policy here at home and straighten things out. Not dumping billions every month into a hole will help that a lot. Although I have said in other threads that this downturn of the economy is avoidable, we can cut the impact by not devaluing the dollar to such a great extent.

I have been thinking about this a lot lately....really what is money these days but a number in a database somewhere? I can go literally months without using any cash. All my transactions are just done electronically....one bank to another. If someone accitdentally moves a decimal place one or two places over im rich, one the other way and im broke.....I dont know if im explaining my point clearly, but cash is becoming a thing of the past, and is more of a "credit situation, for lack of a better word....kinda like the movie "The Fifth Element". I guess this is one reason for higher inflation rates these days.

reply to post by jedimiller


What is it about women? Do they know something we don't. They are definately different than men in their thought processes and do we really care? It is not their brains we value above priceless rubies or gold. It is what brought down the Angels, ruined men great and small. I am not meaning to be a sexist but, there is definately something differnet about women and it reflects in their posts here. Maybe they are closer to the earth or some such; we think about worldwide collapse and they are thinking about milk and bread. Maybe I should have been a Mormon

Does anyone else, who doesnt subscribe to the NWO world takeover theory, think that a modern day "New Deal" is coming with either Obama or Hillary when the no doubt take office next January? If you dont actually know a lot about the specific policies, you should really read up on it. It is exactly what America needs.

This ship is so far from really sunk that it is unbelieveable. We still have the strongest economy in the world, and have the most impact in world economy.

Market up over 400 points today, BTW...
[edit on 18-3-2008 by PokeyJoe]

[edit on 18-3-2008 by PokeyJoe]

Originally posted by thesaints2012

yes but if the US dollar loses its value, all the importers that bring in food have to pay more in dollars for those products from overseas and to make back their extra costs sell it for more at the till - directly affecting YOU.

Which would bring a HUGE boost to domestic US products... Economy's such as Europe's, Japans, and chinas would all feel the wrath of losing the worlds largest consumer. America is very much so self sustainable...The world is simply a convenience to us.