It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Another day, a Weaker Dollar

page: 1
2

log in

join
share:

posted on Jun, 24 2009 @ 10:06 AM
link   

Fading of the Dollar's Dominance
Other Nations See Opening to Boost Their Currencies

The days of calling the dollar almighty may be numbered.

Since World War II, when the dollar eclipsed the British pound as the king of world currencies, the United States has reaped the rewards of its monetary strength. The greenback's sense of indestructibility allowed the U.S. government to borrow cheaply and gave rise to an era of rich American globetrotters toting the world's most easily convertible form of cash.

But the financial crisis that started in the United States is dramatically intensifying the debate over the future of the dollar, and whether it can, or should, remain at the top of the financial food chain. Although a meaningful shift away from the dollar is likely to take years or more, some analysts believe that the debate is now reaching a tipping point.


The following made me crack a smile:

"The U.S. had to screw something up to lose the dominance of the dollar, and you could argue that the U.S. starting a global financial crisis is a pretty big screw-up," said C. Fred Bergsten, director of the Peterson Institute of International Economics and a top economic official during the Carter administration. "But the Europeans haven't been able to take advantage of that to advance the euro immediately, largely because they've made some pretty big screw-ups themselves."

www.washingtonpost.com...


I can only hope that some of you are intelligent enough to pull out of investing in the markets sooner rather than later.





posted on Jun, 24 2009 @ 10:11 AM
link   
I pulled out last winter, as soon as I saw who was going to be elected...The carnage has only begun, we will see much more weakening, if not destruction, of the dollar, accompanied by inflation bordering on hyperinflation.

and what is being discussed? Giving more power to the FED, a cartel accountable to NO ONE!!!!!



posted on Jun, 24 2009 @ 10:16 AM
link   

Originally posted by habu71
I pulled out last winter, as soon as I saw who was going to be elected...The carnage has only begun, we will see much more weakening, if not destruction, of the dollar, accompanied by inflation bordering on hyperinflation.

and what is being discussed? Giving more power to the FED, a cartel accountable to NO ONE!!!!!


I know what you mean. The whole power to the FED is completely ridiculous.



posted on Jun, 24 2009 @ 10:36 AM
link   
Ok so I keep seeing that same posts by the same cadre here on ATS.


So my question to them is: WHAT DO WE DO ABOUT IT???



posted on Jun, 24 2009 @ 10:39 AM
link   
reply to post by bismarcksea
 


hard to say really since "they" control the media, anyone trying anything that ran counter to their goals would be painted as a nut-job or worse





[edit on 24-6-2009 by warrenb]



posted on Jun, 24 2009 @ 12:11 PM
link   
What isn't mentioned in this article is what caused the US Dollar to "eclipse" the British Pound Sterling in the first place ?

It was caused by one word...Debt. Specifically debt incurred by Great Britain as a result of financing WWII, making the British Pound nearly worthless by the end of the war. Also, Germany flooded the markets with counterfeits which also brought down the value of the currency.

The US on the other hand as victors gained Gold from Germany and Japan.

Unfortunately, all Fiat or debt based currencies end up facing the same inevitable fate.

The identical situation occurred with the Weimar Republic of Germany.
I actually own a 10 Mark Gold piece from that era.

Due to the debt incurred by Germany as a result of WWI,
They called in their gold coinage, similar to what occurred in the US in 1933, and began printing worthless paper.

And now it's simply the United State's turn.

What HAS kept the dollar afloat for this long is the fact that it IS the reserve currency. Japan, China and Saudi used to buy almost all of our debt, and now that has changed.
If Japan or any government for that matter needs oil for it's navy's ships then they are required to purchase dollars to purchase this oil on the US/UK controlled markets.
This is beginning to wain with the Iranians trading their oil for Euro's.
And also why we've this recent coup attempt there as well. the US/UK don't want their cornered market .....brought down.

And what can we do about it ? Read Peter Schiff's book...Crash Proof.

In summary.
Get your money out of dollar based assets.
At least until this Hyperinflation (threat?) blows over.
Because if the debt we've recently incurred is monetized, AND inflation begins ( just keep an eye on OIL prices) to escalate, your stocks/bonds dollar based assets will become worthless.



posted on Jun, 24 2009 @ 12:28 PM
link   
I had to start a bank account recently, but I made really sure that they didn't set me up with ANYTHING tied to stocks or the market at all. They kind of laughed at me. But I did the right thing.



posted on Jun, 24 2009 @ 12:55 PM
link   
reply to post by warrenb
 


Hey there warrenb. While what you say is largely true. We are seeing more and more of what the internet is doing. It's bringing many more people to a common ground. Thanks to the large efforts of people like you and me. Many people are now becoming aware to the efforts put forth by many people who are supposedly part of the "powers that be" group. Efforts to control media and thought patterns through large propeganda projects. Anyone remember that dvd called terrorism or something like that that the newspapers sent out a few months back. They are trying hard all the time to keep us in their state of subdued exsistance.

I am part of A.I.R (Art Is Resistance) a group largely laughed at by people on both sides of the fence. Perhaps for obvious reasons but that matters not.

I use my abilities in music art and digital creation to get my message across. The most recent effort of which would be my new series Normality hosted here on MATS.

We all have the ability to use our ideas and thoughts to make others aware. It isnt an easy go, i'll tell you that. but if we keep trying to show people their world around them. We may just be able to make enough people aware, so that those in control of our scociety may eventually come to change their ways. Or perhaps the next generations are better equipped at exsisting with eachother.

At any rate I have probably gone on too long. See ya.

[edit on 24-6-2009 by toraylin]

[edit on 24-6-2009 by toraylin]



posted on Jun, 24 2009 @ 02:22 PM
link   
Bank clerks are the absolute most clueless when it comes to finance. Don't even waste your time.
Simply ask them if their CD rates exceed that of the current rate of inflation ?
Which they don't...
If they appear to be in the know, then ask for proof.


IN the long term though, your dollars will purchase less when inflation begins to hit.

Gold/Silver will be the only way to preserve your wealth.

Much easier than storing 50 gallon barrels of oil in your backyard !



new topics

top topics



 
2

log in

join