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Forecast: U.S. dollar could plunge 90 pct

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posted on Sep, 24 2008 @ 12:07 PM
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This is as real as it gets.

The dollar is going to be around 20% of its value in a month’s time, definitely by spring next year.

Look at the current price on three month $ bills, and also at the sheer amount of $ that have been "created" in the last 5-10 years,

America is bankrupt unfortunately,
The auditors are in, the "firm" will not get a blank check now with congress at least given some caution to printing more Fiat Money and making the problem worse.

This situation is exactly prior to 9/11 just after the internet bubble and pentagon's missing trillion's,

Just like before WW1 and WW2 everyone knows an "event" will occur very soon, natural, contrived or chaotically just by chance events.

There is no more room for another serious "economic event" or even a political one.

America is bankrolling Israel, and pumping billions daily into the "war on terror"

The securitization of Monies like in the mortgage market that happened recently has not even begun to come home to roost $700 billion or not.

The UK, Spain, Southern France, South Africa (cape), Algarve, all have housing bubbles and problems that have not been taken into account yet properly.

We are watching an Empire fall and this is truly like the last days of Rome. I am not happy about this, the whole world is in this together, but it is real.

Most of the $ held in the world are held by China.

You wont buy from China like you did, people are cutting back because of food, inflation and gas, and Chinese goods are "luxuries". This country has no problem running over its own citizens with tanks, and committing genocide in Tibet in the 50's and 60's.
Do you think they care for any American's?
You are just "ex" customers.
The world is changing very quickly, why should the Chinese’s government "risk" like the gambling that created this whole mess most of its wealth generated over the last 10-15 years in $ ?

Why would it do that? The very currency it holds for most of its own "wealth" never was worth nothing last week, don’t you think this makes the Chinese government a little bit nervous about that form of "saving"?

This alone would change the American landscape totally and almost instantly, I wonder how long till they decide to make a run on their bank? And go and collect the deposit?

Like is happening in a Bank in Hong Kong Now today, people taking their money out, fear, uncertainty.

Why wouldn't anyone fear the American Monetary and trading system after recent weeks, months, years?

Another thing, when the market's were collapsing and the $ was everywhere lots of shorts and puts where placed into "Brent", which used to be just one oilfield in the North Sea, but it is all oilfields in the north sea now, well most of the UK anyhow.

It produces $4 Billion revenue a year at current prices, which is declining as the fields run out.

Now like the financials traders are rewarded for "risks". From what I can gather from the figures and research it appears that last month because of the upheaval around $200 billion dollars of Brent was bought and sold on puts, shorts and longs.

Okay got it so far, people traded bits of paper based on what it would be worth at a certain time in the future is that bit of paper was translated into the good, namely here Brent Crude Oil.

See the current production? $4billion, the current actual inflated for stock price spin industry forecasts of life of the Brent fields, 30 yrs 40 at most.

Do the math! Once again like the securitisation market "block" trading has resulted in things being traded that have no worth.

This will probably come home to roost at end of Oct 08 when the first shorts, and put notes are attempted to be cashed in.

Can the US bailout the oil industry traders as well as the banks and traders?

Well even if they wanted to there is NO REGULATION, self or forced within the world of Oil trading.

Again today GM motors is concerned THAT IT WILL NOT MEET ITS PAYROLL BILL in three months time. Well enough said in that alone.

A recent report that Mobile phones may see "the biggest epidemic, and more danger than Smoking and Asbestos combined"

Its a real, quite exhaustative and most in-depth scientific study into Cell Phone use. Due to current world focus it has not got the attention it will soon, one of the fundamentals of the business world and communication, the drive of capitalism is under threat of legislation certainly in Europe soon due to its health risks.

Where will Oil be, and therefore the $ when congress give the Israelis the bunker busters they want, and like 2 weeks after that delivery and its consequences?

Without going on and on, One of these factors alone at the moment is enough to collapse the $ never mind all of them together.

We are watching a Car Crash in slow motion, but a crash it certainly is.

I mean I really can’t think one reason why anyone would invest or peg to the $ at the moment, unless the new currency dealers are the old Coe’s of the Financials and are taking a "risk"

I really can not understand Congress even considering giving the "PRIVATE" fed and Burnanki any more $, my god they charge for it already and he was in Goldman’s and encouraging Hedge and securitisation, he is one of the reasons this is happening in the first place.

It’s like giving psychopath responsibility over kids on a camping trip after he says “I wont "loose" any of them this time I promise"

I wish it wasn't but really having read a lot and lot again squared of history, working in finance myself recently it does seem inevitable.

Or a new "war"

One of the two, and the death throws of every great civilization is never pretty for its neighbours, friends or enemies.

Kind Regards,

Elf




posted on Sep, 24 2008 @ 12:27 PM
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You might want to check the date on that article. Old news?



posted on Sep, 26 2008 @ 02:16 PM
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I glad the last poster wrote all the way down the page, it made me feel like 1929, 1967,2008, do we see the trend?



posted on Sep, 26 2008 @ 04:18 PM
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I say let it happen. Let the banks go bankrupt and people loose the houses they can not afford. I am tired of taxpayers paying for all the stupidity of the masses. Not to mention that the federal income tax is actually illegal. Let it happen. Do not allow any type of black mail bail out to happen.

I am going to post this on as many threads as I can, because it is time people realize worse things can happen. For example giving all our money and freedom to the government.




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