"You will not be able to exchange dollars...without permission from the U.S. government"

I found this prediction rather sickening:

“By the time Obama leaves office, you will not be able to exchange dollars for any sound currency in the world without permission from the U.S. government. The price of gold will be well over $2,500 per ounce. Most importantly, commodities will no longer be priced in dollars either, but instead in the currencies of the leading producer. Americans haven’t experienced anything like this since the Great Depression.”

More at the source:
www.dailyreckoning.com...

reply to post by silent thunder


I noticed the source bills itself as "Agora Financial" "The Premier Source for Independent & Unconventional Financial Advice & Analysis."

I wonder if this is meant to attract a particular kind of investor... the pissed off kind.

Originally posted by Maxmars
reply to post by silent thunder

 

I noticed the source bills itself as "Agora Financial" "The Premier Source for Independent & Unconventional Financial Advice & Analysis."

I wonder if this is meant to attract a particular kind of investor... the pissed off kind.

Real interesting question and something to ponder Max. I believe you hit it in the bullseye!

Zindo

Yes it will be $2,500.00 US DOLLARS but not Aussie, Pound, Euro - why becuase as the US pumps more and more dollars into their failing economy the collar is being weakened. The global reserve will become the Yuan and the Chinese have ALREADY stopped buying US treasuries in favour of purchasing commodities. Dollars will not be allowed to be exchanged for external currencies part in due to teh fact no other currency will value them, and the process will only further weaken the dollar - capital flight - leaving the only source of external currency exchange between the government to provide some security to the dollar.

Your in trouble --0--

I've wonder something, It probably is a relatively easy question to answer.

How would one, Exchange a dollar, for another currency, not talking a forex account or others, but a real physical dollar, when I lived in Canada it was easy to trade between US and Loonies, both were accepted just as well in some place up north, but i'm in texas now.

So say I wanted a Yen, how would I go about this, something that would go in a mattress.

Guys and gals...the USA is the bread basket of the world. If things do get that bad, and I'm thinking they will, than if gold does go to some crazy price like 2,500, the rest of the world would have to debase it in order to retain some kind of value in the reserve currency.

This is why that particular scenario wont happen. The G20 will band together to rescue the world by creating a totally new system of trade and commerce based on a new non carried credit unit. It will be a virtual unit of value used to buy and sell, and your online bank account will be hooked up to the world bank.

This account can only be accessed through the issuance of a unique ID number for every man, woman, and child.

It is the only way to gain control of this financial anarchy being created by numerous currencies and commodities that are all reliant on another SINGLE nation..the USA.

You will be forced to trade your gold in for these credit units, and before they do that, they will outlaw the legal trading of gold/silver
to bring the value of the dollar back up.

Of course, many rich people who were counting on gold will be po'ed, but will be told it is for the better to trade the gold in for the new credit unit.

Trust me, it is the only way this crisis can be contained, and therefore all you gold bugs can't count on buying it being a safe haven for much longer.



[edit on 19-4-2009 by TH3ON3]

well most of the banks can't wait to pay back the money WITH INTEREST, so they are not beholding to the government...the real problems are jobs and credit.

Yikes.!

Scary....scary....scary....

I'm not a financial expert, but where will the Euro stand when inflation happens on the dollar?

Will the Euro be a smart investment/exchange prior to inflation?

Originally posted by Republican08
I've wonder something, It probably is a relatively easy question to answer.

How would one, Exchange a dollar, for another currency, not talking a forex account or others, but a real physical dollar, when I lived in Canada it was easy to trade between US and Loonies, both were accepted just as well in some place up north, but i'm in texas now.

So say I wanted a Yen, how would I go about this, something that would go in a mattress.

Many banks in major cities will do this. There are also other types of stores and specialty shops that echange paper (hard) currencies. For example, in Times Square in New York there are several little booth-like "hole-in-the-wall" establishments that will do it. I also changed money in NYC in some kind of shop that sold other items and at the back they had a desk for the exchange of paper money. As noted, many banks will do it, but I doubt every bank will. In Tokyo you can di it at most banks and they also have automatic machines that will change packets of dollars for yen you feed into the machine. There are probably other ways but that's off the top of my head.

Originally posted by Ben Niceknowinya
Yikes.!

Scary....scary....scary....

I'm not a financial expert, but where will the Euro stand when inflation happens on the dollar?

Will the Euro be a smart investment/exchange prior to inflation?

It all depends on how much the euro inflates. If the printing presses in Europe roll at the same speed as those in the US, the currencies will maintain their relative value to one another. The same goes for the yen and all other currencies.

Countries control the supply of money through a number of different means. Interest rate manipulation, credit creation, or straight-up "printing presses" (more commonly the creation of electric currency on a computer screen these days) are all used to expand the money supply. As long as this happens at the same or similar rate in any two countries, their currencies will maintain a similar relative value. If Country A creates a ton of cash and Country B does not, then country B's currency will increase in value relative to country A's. Good old fashioned supply and demand.

I'd almost not buy into the sheer levels of gloom and doom I hear on this board, but I don't think we are out of the woods yet. I don't know if we'll ever realistically be where some think we'll end up.

But I DO wonder why, since this began, that I've been hearing more and more ads from jewelery and like-minded stores, advertising for your gold and precious metals. A well known and large jewelry company in town, where our rather well known pro football coach was a regular spokesperson, came out with a new ad I heard today, with this (now ex) coach, and it was soley for BUYING your gold and jewelery. I've never heard this before. Not from a prominant company like this one. Makes me wonder why they'd buy NOW, after the prices have already skyrocketed for gold.

source: www.sovereignsociety.com...

“Nonetheless, under his mandate for "change," President Obama may well decide to strengthen exchange controls further if the original ones aren't effective in preventing capital flight. This initiative could take forms such as:

Requiring that U.S. persons close all foreign bank accounts and repatriate the assets to the United States at the official exchange rate, unless they first apply for and receive a license to hold the account
Prohibiting the purchase or sale of gold, and requiring the sale to the Treasury of privately-held gold at the official exchange rate
Formally declaring a two-tiered currency conversion rate: a market rate for foreign purchasers of U.S. Treasury debt (perhaps backed by forcibly sold gold) and a below-market rate for U.S. residents.”

Personally, I suggest keeping a close eye on what happens with Obama's "tax cheat" persecution activities, specifically what actions the US government takes against the Swiss banks that are alegedly holding "tax cheat" accounts. That will be the excuse used to move us into an era of strict exchange controls. Much like the executive bonus steaming pile, the most vocal of the sheep will go along with Obama's plan and herald it as being a move to protect the majority of us by making the big bad boogeymen in th fancy suits "pay their share."

Originally posted by audas
Yes it will be $2,500.00 US DOLLARS but not Aussie, Pound, Euro - why becuase as the US pumps more and more dollars into their failing economy the collar is being weakened. The global reserve will become the Yuan and the Chinese have ALREADY stopped buying US treasuries in favour of purchasing commodities. Dollars will not be allowed to be exchanged for external currencies part in due to teh fact no other currency will value them, and the process will only further weaken the dollar - capital flight - leaving the only source of external currency exchange between the government to provide some security to the dollar.

Your in trouble --0--

The dollar will certainly be weakened but you are direly mistaken if you think other currencies won't weaken as well. Nobody wants an overly weak currency, but nobody wants an extremely strong currency, because then selling their exports becomes very hard (among other reasons). So what we are seeing now is a "race to the botttom." Yes, the US is printing money like mad, but other countries are also desperately printing money to avoid their currency becoming too strong and also to dig their own way out of their own messes.

This is a global crisis, not a US crisis. You, too, are in trouble, wherever you may be.

As for the idea that the Yuan will become the world reserve currency, that is worse than laughable. Foreigners aren't even allowed to buy and hold more than a tiny number of Yuan, and even then only to do specific business with China. China has absolutely no interest in being the world's reserve currency and it, too, is rolling the printing presses these days. China and Russia have proposed alternatives to the US dollar as a reserve currency, but these are likely to be a basket of various world currencies and/or precious metals/commodities...not the Yuan or any other single national currency.