World Prepares to Dump the Dollar

Originally posted by Rigel Kent

Most consumer goods in China are counterfiet and that is what makes them affordable to the general public. Why would they want to buy American goods at (as they see) vastly inflated prices?

I am guessing that you have never been to China or perhaps you would know that the cultural differences are so vast and that you can not apply the same consumer models that you apply in US unless you think that a culture that is barely a few hundred yrs old can change one that is many thousands. Unless of course you think that they want to be just like Americans.

U.S., China talk money, climate; no breakthroughs

"We will work to increase our imports from the United States," he said, adding: "We hope the U.S. will relax its controls and restrictions on exports to China of its high-tech technologies."

Unlike many here. I do not confuse the truly beautiful, glorious and ancient Chinese culture and the present day single party communists. Their government is what 60+ years young? Compared to others around the world they are relative newcomers.

Giving them credit for such a wonderful ancient culture is like giving the Present day Egyptian government credit for the great pyramids or the present day UK government credit for Stonehenge. Sorry I just don't buy it. China is not the China of 3000 or 300 or even 70 years ago. This is the new China and there will be change, BIG change. The Ginnie of freedom cannot go back into the bottle once it's released.

There will be change alright but not the change the Government expected nor wanted.



[edit on 28-7-2009 by SLAYER69]

Originally posted by GreenBicMan
reply to post by Rigel Kent

 

Sorry, but that is terrible advice IMO.

Are you new here?

I agree with you 100% .. that is all you get here on ATS, terrible advice.
I'd listen to a red haired three legged poodle with a diarrhea problem before I'd listen to any of the "sky is falling" nitwits on this board.

Buy gold, buy seeds, buy a gun, buy duct tape .. blah blah blah...
I think they just move from subject to subject, thread to thread and copy/paste. Hell, I even saw one of them post this dribble on a UFO discussion!!

The only thing we have to fear is the increase in neighborhood crazies.

For the record, we are NOT a third world country, inflation will NOT shoot up like Zimbabwe, this country can survive without the rest of the world, we can certainly find a way if anything even remotely ridiculous like the proposed came to pass.

But it won't...

Yea, the worlds going to drop the dollar for.. wait for it.. wait for it.. the Ruble? The Euro? How about the Peso, Dram, Kroon, Pound, Yuan or the Yen?

Right...

I'd like to be in the same room with these countries as they "negotiate" what currency will take over.

Doom and gloom, doom and gloom, it's what keeps these people going. With nothing else interesting in their lives they find comfort in being a doomsayer. Most of these guys are a perscription short of being on a streetcorner with a sharpie and half a meter square of cardboard strung around their neck screaming "The End Is Nigh!, The End Is Nigh!".

Gotta love America, it takes all kinds and all kinds are welcome!

This is True but it is bases on pure Emotion.
I know that, because I am one of them/You.
We have over 10yrs. of this left if not longer ( the way Obama is baring us).

Now take a deep breath, I think I will only listen to "panic spreaders" and people that "should be institutionalized" According to the CEO of Washington Mutual less than a year before the Crash (ops) "Resection"

Peter Schiff
He was called out many times (even FOX Network) and stood strong.
I was going to transfer my ROTH IRA to Metals IRA.
What A rip-off I read the application I was all excited and saw the fee's for holding the coin. I would loss my ass $100 freaking Dollars a year on top of other Fees.
This is not an add, I know that We (the People) are in deep S**t, but life will go on.
I am going to EURO Pacific Capitol.
Watch his videos.
The CEO of WAMU, isn't in the Institution for being Deluded, or in jail for Lying/coning the investors.
We are going to be slaves for his Fowl Play!!!
Ab Finch
[url=http://www.europac.net/

reply to post by gormly


When doom and Gloom comes from mister economy fixer and the soon to be the economic Czar of Czar you better listen.

Bernanke: This may be worse than Great Depression

www.abovetopsecret.com...

Originally posted by mikerussellus
Please forgive the ignorance, but what does that mean for us? "We the Peons..."

I do know it isn't good, but in basic nut and bolts, how will the average american be affected?

It means,we could be heading for a depression worse than 1929. I wouldn't
expect any help from the government,fema,nobody!!!We would be on our
own.
If I were you, I would start buying can goods and other staples NOW!!!!
Even if you have to max out a credit card,buy supplies.Have enough to
support yourself and your family for at least 6 months.I would recommend
not telling anybody about the supplies either.

Originally posted by marg6043
reply to post by John Matrix

 

Sorry to burst your bubble but I see Israel been ignore more than been seek after, Israel have nothing that any of those countries wants or need.

Israel is God's chosen! If we ever abandon her,we are doomed!
Everytime our country tries to force Israel into something....
divide jerusalem,give up land,stop building communities,the U.S.
gets punished.
There is an excellent book titled,"How Satan Turned America Against God"
written by Dr.William P.Grady.
Of course,you have to believe in God first.

reply to post by mamabeth


I believe in a "creator or creators" but I am not fond of organized religion and I be darn if I am going to believe on "chosen" ones by the "chosen ones" elected personal god.

Originally posted by marg6043
reply to post by gormly

 

When doom and Gloom comes from mister economy fixer and the soon to be the economic Czar of Czar you better listen.

Bernanke: This may be worse than Great Depression

www.abovetopsecret.com...

theres none so blind as them
that choose not to see.

PEACE,
RK

Text BlueTextreply to post by warrenb

NEW WORLD ORDER, Good or Bad? We will be under onr curency, & why do you think they been giving dollars away? Its close to a done deal. My wonder is, what curency is New Jeruselem going to have?

reply to post by mamabeth


Wow that is an interesting new take on economic events...

Reminds me of this one time I saw the Mad Hatter at Red Rocks in Colorado.. err maybe that is a different story haha - but seriously I don't know where you are coming from here..

Can you explain a little better?

Originally posted by mikerussellus
Please forgive the ignorance, but what does that mean for us? "We the Peons..."

I do know it isn't good, but in basic nut and bolts, how will the average american be affected?

What this means for us is inflation. MASSIVE inflation. Fiat currency holds it's value while there is a strong demand and loses it when demand weakens. All the world's major commodities are traded in dollars which means everytime someone on a currency that isn't the US dollar has to buy or sell, they have to do a currency exchange which keeps demand for dollars high. If nations started accepting other currencies, demand would drop and inflation would increase. All those dollars held overseas would also come home and create even more inflation as the dollars in circulation here become more diluted.

[edit on 29-7-2009 by animekenji]

reply to post by gormly


I would listen to more arguments if they were backed up by solid arguments or facts..

Mostly MARG or a few others (HX,RHatty (if still around..)etc...) are the only consistent members that usually have some sort of significant input (whether or not it is prudent of course is a *IMO* "thing only" ) but if you say the world is going to dump the dollar - at least be ready to back it up with what we would go to (EX MISL has said SDR's) so at least someone has "something" to back it up with - and like I said - I personally dont think it is prudent, but at least you need to back it up with something first....

Now I have heard religion being brought into it as well... but I think I am 50% rasta at heart hahahaaha so I have yet to be sold on that.. still waiting for a reply on that front

reply to post by GreenBicMan

Hot Air Dragon: Is China About to Pop?

I do not ascribe to either of these uninformed, ideologically-driven islands of ignorance.

First, let's acknowledge--and dismiss--the main subtexts which play out in any discussion of U.S.-China trade: Many of the "China is the inevitable superpower of the 21st Century" crowd are, beneath their cheerleading, deeply anti-American; they hope China replaces the U.S. as the global superpower not because they are enamored of China (though they may be) but because they loathe the policies and indeed, the power, of the U.S. In this they are akin to the Soviet sympathizers who romanticized life in the Cold War gulag/USSR because they disapproved of U.S. policy and power.

[edit on 29-7-2009 by SLAYER69]

reply to post by SLAYER69


Well, in essence that is true.

Although, I dont think many know what they are wishing for in these instances and are drove by the likes of the "ZHEDGE" crowd that is a bunch of short sellers that half just "follow" the opinions of others and have no idea what they are talking about.

The world would never take the YUAN anyways as currency - i mean

1) Its china -please

2) They manipulate (maybe more than us lol!!)

3) Its china - please

But seriously, if someone can come up with something better than "credits" (sdr's) like we are on planet Tatooine, I am all ears

reply to post by GreenBicMan


China bank lending: A bubble in the making?

While the U.S. and Western economies have faced a credit crisis, there is a credit feeding frenzy happening in China. China state banks have lent nearly $1.1 trillion in the first half of the year -- more than the $800 billion U.S. stimulus or the $586 billion the Chinese government is spending to bolster its economy. Video CNN's John Vause reports on China's spending »

The record lending spree -- equal to one-quarter of the nation's total economic output -- is helping China's economy grow close to 8 percent the last quarter.

While boosting domestic consumption is seen as crucial to help reduce China's reliance on exports, economists see signs of trouble ahead.

"China has a $4 trillion economy and has (public and private) loans out of $1 trillion," Jerry Lou, China strategist for Morgan Stanley, told CNN recently. "Its loan book is out of balance."

As the world turns

Cracks In China Economic Foundation

China has recently warned its banks that their lending is too aggressive, but if they cut back on making capital available, the growth of the economy could be compromised.

China chided the US about its increasing deficit when official from the country visited America this week. What was left unsaid is that the Chinese have trouble in their own economy, trouble created by government policy, which could hurt China as much long-term as US borrowing will hurt the American recovery.

[edit on 29-7-2009 by SLAYER69]

We got our selves into this situation. Not just the US but the world. Just dealing with the US, it was the general attitude we have toward everything. "Oh thaat does not effect so why should I worry" We let this happen to our selves. Look at the fed reserve. They are not run by the government (as the name suggest they are) They are a privite institution. If kendeny had his way there would have been no reserve. We allowed to the people we elected to F***** us over. We did not stand up when they were caught taking bribes and only recieved a slap on the wrist. When are we going to relize that no politician controls the economy no big compony either. We do The american people. But we are so caught up in what brittney's Pu**y looks like and what celeb is dating who or going to jail that we completely turned a blind eye to what the people we elected are doing. Oh some of us make make some noise but it dies off after what 2-3 days and it's no where near the amount that it needs to be. If we devoted half the time we spend to find out whos f'n who then this country could be out of this crisis with in 6months. We don't care so long as it does not effect us severly.

Prime example: If we as americans hated this war in Iraq so much we the people could have stopped it. How you ask? If we all just took 10-20 min to indivully write (not sign a petition) our congressmen or senetor and threatened that if they did not do their part to end the war that we would not reelect them. We should have done then same if we wanted bush brought up on charges for crimes against humanity.

But what were we into, what clothes was puffy wearing to the grammies, what is tthe latest and greatest gadet out their that I can buy, etc etc etc. Wake the F**k up people. Stop acting like the sheep these people believe you are.

reply to post by jmotley


Well you are correct in 2 forms.

First of all it was the avg citizen that got us into this situation.

Through living over their means of course.

On the other front look how much we pushed for not funding the bailouts. You can tell politicians were scared because people were finally speaking up - even as far as the (R) from Texas about seceding.

Didn't really matter though, and in retrospect maybe we did need it, or maybe we didn't.. the markets were calling for it though - until the last leg up the markets were calling for another but that went away real quick after another 100 SP points to the upside.

If enough people get pissed you can make things happen, I mean look at California and their clubs etc.. (small ex. of course) - But it can go both ways obviously

Originally posted by GreenBicMan
reply to post by jmotley

 

Well you are correct in 2 forms.

First of all it was the avg citizen that got us into this situation.

Through living over their means of course.

On the other front look how much we pushed for not funding the bailouts. You can tell politicians were scared because people were finally speaking up - even as far as the (R) from Texas about seceding.

Didn't really matter though, and in retrospect maybe we did need it, or maybe we didn't.. the markets were calling for it though - until the last leg up the markets were calling for another but that went away real quick after another 100 SP points to the upside.

If enough people get pissed you can make things happen, I mean look at California and their clubs etc.. (small ex. of course) - But it can go both ways obviously

I think I could have solved a lot of these problems with only 75 million.
Lets take a look at our population (these are only guessiments)
300 million citizens
200 million in the workforce
75 million over the age of 50

1) offer all 75million people over the age of 50 in the workforce $1million tax free to retire early. (My guess about 50 million will accept)
2) Conditions on money
a) Must either buy a house or pay off mortgage
b) Must purchase a new american made car (if still eligible to drive)
3) Can not return to workforce for min of 5yrs

This fixes many immedeite problems
1) 50 million jobs open (joblessness fixed)
2) Housing crisis fixed (50million debts paid. makes it look very good on paper)
3) Auto industry fixed (50million cars brought from Ford, chrystler, or chevy)
4) credit crisis fixed (Since this is the older generation they will most likly pay off their credit cards to be come truly debt free)

Next step would be to offer this every year to people over 50.

Now I know this will not fix everything but it will bolster cofindence in the US economy, free up credit lines.

Please feel free to disclose any holes in my theory, I will provide the patches.

Originally posted by GreenBicMan
But seriously, if someone can come up with something better than "credits" (sdr's) like we are on planet Tatooine, I am all ears

Honestly for there to be a global currency there needs to be a more consolidated world governing body. How they will do that, I have no idea. Perhaps war? I don't know. But if they really want to do it, then they can just crash the markets to make March look high...Then people will be convinced a global governing body for the financial system is needed. Add a little war here and there, maybe with Iran and Israel, then a more powerful UN could be orchestrated. Who the hell knows, but don't scoff at the idea that it can't be done.

[edit on 29-7-2009 by RetinoidReceptor]