World Prepares to Dump the Dollar

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posted on Jul, 24 2009 @ 09:15 PM
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reply to post by warrenb
 


yep - all those who keep syaing it won't happen - etc. are blind - it is happening and many of us have been saying it for months. amazing there are still people on this board who don't think it will happen either.

S and F !!




posted on Jul, 24 2009 @ 10:56 PM
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When I was a kid I had a stamp collection. In it, were some stamps from Germany, I think after WW II - but maybe just after WW I. They were very strange. Some of them were 10 Billion Mark stamps - ten billion marks. That is a whole lot of marks, for one lousy stamp.

I doubt they managed to sell any stamps. Who's got a spare ten billion lying around for a stamp? Bill Gates would just about be able to buy a few of such stamps. So I guess that's what happens when the dollar loses its value - we wind up spending lots of dollars for little in return.

I don't think we'll reach that point, for a couple of reasons. First, our biggest creditor, China, can't allow us to fall. If we fall, they take a severe hit - they might also fall, though they may be big enough to survive the hit. But it's probably something they don't want to go through.

Also, we've got another product, which is oil. We're pals with Saudi Arabia. We've taken over Iraq, and would have taken over Afghanistan if it had any sort of organized government to take over. We're making kissy-face with Georgia, which also controls a significant amount of oil. Oil could very well bail us out. In fact, I suspect that the US has been planning to use oil as an eventual buffer to the inevitable devaluation of the dollar, as our house of cards (uncollateralized loans) comes tumbling down. People knew it had to happen sooner or later.



posted on Jul, 24 2009 @ 11:01 PM
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the market is up now but i do believe we have a lot ahead of us and very soon the markets are going to go down again and so will the dollar. Ive read the latest web bot predictions and very scary to say the least. I know one thing, id rather be safe than sorry. Starting out of my next check im going to start investing in silver and stocking up on canned goods and already have started stalking up on water. I really hope im wrong and we do pull out safely, but like i said....I'd rather be safe than sorry.



posted on Jul, 24 2009 @ 11:33 PM
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The only way the economy will succeed here in the USA is to actually start producing something again, from the ground to final product.

People are BS'n themselves if they actually think this economic problem, jobless rate, and enormous financial debt is going to go away with downsizing, then just serving pizza's to each other.

USA became a great nation by producing.

Now we produce almost nothing, but we have the potential to be a large producer again.

We do top the world in producing the most BS and that is coming mostly from our politicians. Maybe we should look at the amount of hot air produced by our politicians and Greenhouse effect?

I appreciate optimism, but now is not the time for rose colored glasses when we are up to our a##es in alligators, it's time to drain the swamp and start over.

Things will start over soon, will gold, silver be worth anything?

Sure, when the people with Gold, Silver are starving i'll trade them a pound of wheat for a pound of gold.

Land is where it is at, fertile land, that food can be produce on, because when your hungry, you'll trade a lot of gold for one meal.



posted on Jul, 24 2009 @ 11:46 PM
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good post. just another piece of evidence that if you dont have a some supplies set aside for this fall you better start now. if you think that the fall of 08 was crazy just wait until fall 09. the stock market is being artificially pumped up one more time before it falls completely on its face. im sure i dont have to tell anyone here who peter schiff and gereld celente are but just in case look em up, they know there # and tell it like it is, that being said it is going to crazy real soon. i wish all of you good luck, we will need it.


[edit on 24-7-2009 by middleclasssoldier]



posted on Jul, 25 2009 @ 12:00 AM
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It's all part of there plan for a global currency.
Its plain to see

Alien Mind



posted on Jul, 25 2009 @ 12:24 AM
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More Gloom and Doom!

China: US dollar to remain dominance for yrs

Chinese Vice Foreign Minister He Yafei told reporters in Rome: "The US dollar is still the most important and major reserve currency of the day, and we believe that that situation will continue for many years to come.

"You may have heard comments, opinions from academic circles about the idea of establishing a super sovereign currency. This is all, I believe, now a discussion among academics. It is not the position of the Chinese government."



posted on Jul, 25 2009 @ 12:46 AM
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Originally posted by Realtruth
Now we produce almost nothing, but we have the potential to be a large producer again.



Contrary to "Pop Culture " Beliefs the US and EU are still the big dogs. This can get ugly real fast. With the shrinking of the US manufacturing sector from the glory days of over 30% of world production now down to 21% and falling. It is becoming very apparent the US needs to start Manufacturing again. But how can one compete on an uneven playing field?



Some feel our real problem is not under manufacturing but over consumption our industries cannot keep up with our own demands. All too often too many statements are made that only increase the confusion of the reality of the situation. Yes the US has lost manufacturing jobs. Yes our industry is on the decline. No arguments there. But there are many ways to judge the situation. I even wrote a thread on topic Here I understand all too well. No need to preach to the choir.

Most of what the US does produce are higher end higher technology that the average consumer would not see or is even aware of they would not find them on the shelves at Walmart. Heres the kicker they are not all defense related either.
Source

World’s largest manufacturer
Published 6/23/09
Filed under: Miscellaneous, Politics

What country is the world’s largest manufacturer by a huge margin? If you have a kid, you would think it must be China — I don’t know the last time I saw I toy (or anything else, really) that wasn’t made there.

Wrong.

Accounting for more than 20% of the world’s total manufacturing output is the United States.

Japan is a distant second at just over 13%. Then China (12%), and Germany (8.2%). Then, well, everyone else. (Data come from the Dept. of Labor and the United Nations.)


Revenue Leaders by Nation
Country/Province Number of Companies Revenue Total (Millions) Average Company Revenue Growth (%)*
United States 290 $5,386,377 10.50
Japan 233 $3,624,074 6.74
Germany 40 $1,269,963 11.97
France 48 $1,103,959 4.23
United Kingdom 36 $882,521 17.30
China 36 $606,892 19.74
Netherlands 13 $599,939 7.97
South Korea 37 $574,252 27.46
Switzerland 21 $364,031 2.90
Italy 15 $356,603 5.75
Russia 8 $338,870 32.37
Canada 27 $335,500 24.20
Taiwan 29 $328,564 5.47
India 12 $206,903 48.20
Finland 16 $189,505 0.56
Brazil 10 $184,523 23.04
Sweden 14 $161,619 6.29
Spain 6 $149,468 7.73
Luxembourg 3 $145,569 14.33
Australia 12 $143,580 38.52
*Manufacturers that did not appear on the 2008 IW 1000 list were not included in revenue growth averages.



posted on Jul, 25 2009 @ 12:47 AM
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I hope the dollar does fall, that inflation takes over, 10% annual would be good. If foreign currency raised considerably in relation to U.S. currency it would be great for the working class.

Why?

Because for U.S. workers it would be bonanza. U.S. workers out produce all other workers around the globe. There would be a stampede of foreign investors looking for the high productivity and high quality of U.S. workers. All those overpriced mortgages would quickly become chump change.

Who would pay? The investor class, the super rich would watch their fortunes dry up and blow away. Sure, retirees as well, but they are already screwed.

It ain't gonna happen. Propping up the U.S. dollar is what keeps China in business, Japan too.



posted on Jul, 25 2009 @ 01:02 AM
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reply to post by GreenBicMan
 



BoCom’s Zhang Says Yuan Won’t Oust Dollar in a Decade (Update1)


“We can’t force our clients to use a certain currency for trade settlement,”

Dollar’s Dominance

“The U.S. dollar will remain as the world’s major reserve and trade currency for a long time,” said Zhang. “It would be quite good if yuan trade can account for 20 percent of the total foreign trade of China in the imaginable future.”



posted on Jul, 25 2009 @ 01:08 AM
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China: USD To Remain Major Reserve Currency For Yrs


Meanwhile, creation of a supranational reserve currency has been discussed "among academic circles", He said, adding that "It is not the position of the Chinese government," the Xinhua reported.



posted on Jul, 25 2009 @ 01:11 AM
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Dollar Gains as China Says ‘Not Aware’ of Reserve Currency Talk


The dollar strengthened after a Chinese Foreign Ministry official said he hoped the greenback would remain stable and was “not aware” of a plan to discuss a new reserve currency at next week’s Group of Eight meeting.

“The minister’s remarks are definitely supportive of the dollar,” said Tsutomu Soma, a bond and currency dealer at Okasan Securities Co. in Tokyo. “It’s extremely difficult to move to a new reserve currency. For China, the value of their U.S. holdings would drop.”



posted on Jul, 25 2009 @ 01:13 AM
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BRIC Reserve Currency Plans Won’t Undermine Dollar, RBC Says


For China to raise concern about the dollar while holding almost $2 trillion of assets in the U.S. currency would be like “shooting yourself in the foot” because it would put downward pressure on the value of those assets, Nick Chamie, Toronto- based global head of emerging markets research at RBC Capital, wrote in a report today.



posted on Jul, 25 2009 @ 01:21 AM
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The reason the Chinese want to continue with the dollar as the standard is because China needs more time to pull it together to make their currency the new standard.

Right now they mine a lot of gold every year. And none, not one ounce leaves the country.

Plus, they're on a gold-buying binge.

Once they get their gold reserves up, with their dollar accumulation, they pull the stopper, and the dollar goes right down the drain.

With a strong economy, strong manufacturing base, strong currency backed by gold, then their money will become the new world standard.

The US has seen it's best days.

The downward spiral should only accelerate from this point on.

We make very bad decisions, every time an opportunity comes up.

Reminds me of the ending of the movie "Vanishing Point."

The wall of steel.

And he hits the gas.



posted on Jul, 25 2009 @ 01:23 AM
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Canada has greater economic pull than Russia.


Russia To Advocate Need For New Reserve Currency At G8 Summit

He added, however, that Russia isn't trying to undermine the position of the U.S. dollar as a reserve currency.



posted on Jul, 25 2009 @ 01:29 AM
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Gold Reserves

Gold
(tonnes)

1 Eurozone
11,065.0 (tonnes)

2 United States
8,133.5 (tonnes)

3 Germany
3,412.6 (tonnes)

4 International Monetary Fund
3,217.3 (tonnes)

5 France
2,487.1 (tonnes)

6 Italy
2,451.8 (tonnes)
-
7 China
1,054.0 (tonnes)



posted on Jul, 25 2009 @ 01:31 AM
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Originally posted by GreenBicMan
reply to post by Ex_MislTech
 


You are incorrect in the fact that if they were fake they would be in trouble.

It is not a law in that country.

I posted a link to the WSJ in a separate thread confirming this.


Dont you think that if they were fakes, the US govt would raise hell to have these men pay the price? Or are you saying it is okay to print billions worth of US debt?
Piracy in general is illegal my friend.

And reading your posts, I see you have the feeling that the US is too big to fail. I understand it is a comforting thought, but the same was said about Rome.

Cheers.



posted on Jul, 25 2009 @ 02:04 AM
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reply to post by TheOracle
 


I am saying it was akin to monopoly money.

There are no laws in that country that say this is a crime.

I believe they were apprehended on suspicion of having these for "realz" then released when they knew they were not real.

It got blown up by bloggers, you can check as well.. bonds were never printed in those denominations, etc. down the line.. plenty of factual evidence pointing to these not being real... but that really isnt the debate anymore.. its more about the "why"?

I think it is part of the disinfo campaign against US Dollar



posted on Jul, 25 2009 @ 02:04 AM
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Originally posted by mikerussellus
reply to post by marg6043
 


When/if China starts cashing in on our debt to them, I understand enough to realize our rating will sink, but what kind of manipulation (if any) can the FED do to keep our economy propped up?
I realize dumping more money into the system is bad. Another stimulus package would tank us. But for the people that are still working, they aren't spending. Hell, every extra dime I have goes to gold. (canadian maple leafs, american eagle 5$)
So the Fed is going to HAVE to dump more money into the economy because people like me aren't spending.
But then that will create a scenario where the dollar will devalue further, causing people like me to save even more, which (in turn) will cause the Fed to dump EVEN MORE money into the economy. . . . .

. . . . . . basically, we're screwed aren't we?

Have I got it right?

-sigh- it's only 9 am here, and I need a drink-



The odds that China will cash in a significant amount of its treasuries is about as likely as them launching their nuclear missiles at the United States. We are the primary customer for their crap. Without a functioning US economy and a reasonably strong dollar, China would collapse. I doubt they would just shoot themselves in the head with regard to this matter.

[edit on 25-7-2009 by andrewh7]



posted on Jul, 25 2009 @ 02:05 AM
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I see the only solution is to forgive the debt and start producing as a county more than ever, though global elites may look at this as a way to depopulate a bit, in order to slacken up on the demands. Most of them can shield up their walls and take cover for a year or two anyway if not longer. Though with mass chaos, unless the regular citizens could band together, the worst of society would likely flourish in such an environment. I never really believed that their is an "evil" NWO, though I do believe there are people at the top looking after the "bottom line" and certainly hold themselves as top priority. If they do have some narrow agenda then we're headed straight to hell and it will be on Earth. It may do the world some good to be reminded of the basics in life, most people wouldn't know how to survive if their super market and local take out were closed, it's time for people to wake the %#$! up.





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