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World Prepares to Dump the Dollar

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posted on Jul, 25 2009 @ 02:09 AM
reply to post by SLAYER69

I like that chart/graph.

Most people dont realize Microsoft earns about as much as the GDP of some smaller countries lol..

Our industry (minus cars and financials lol) is still turning out things and our corp's are the worlds biggest.

But either way you slice it we could still wield power with just appl and msft.

posted on Jul, 25 2009 @ 02:18 AM
reply to post by SLAYER69

Thanks for those numbers SLAYER. They're also buying $18Billion in gold, and when the IMF had something like 2-3 tons of gold and were going to sell off a ton or two, it was China and India that suggested selling off the whole batch.

The US has been accumulating gold for a long time, playing the international monetary thing.

Give China a chance and they'll be up there. Once they have good reserves, they'll do like France did under DeGaulle, and make a push to have their currency the new standard.

With our Fed printing money like Parker Brothers for the board game, it's going to be worth less and less, and we'll likely see double digit inflation within the next 18-24 months.

Talk about misery.

[edit on 25-7-2009 by dooper]

posted on Jul, 25 2009 @ 02:19 AM
reply to post by dooper

Yes, let them average into the gold market at historical highs and we will short them out.

That sounds like an excellent plan, muhahaha

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

To put this into perspective we do roughly about 28 Billion worth of business with Russia. That's about the same as we do with Taiwan. Like we should worry about what Russia thinks. Canada has a larger economic pull

Look at Walmart alone does.

Wal-Mart Stores reports higher profit

For the full 2008 fiscal year ended Jan. 31, Wal-Mart earned $12.73 billion, or $3.13 a share, up from $11.28 billion, or $2.71 billion, a year earlier. Net sales rose 8.6 percent to $374.53 billion from $344.99 billion a year ago. Overall revenue rose to $378.80 billion from $348.65 billion a year ago.

posted on Jul, 25 2009 @ 02:31 AM

Russia and China wont cope without US dollar

Despite calls for less reliance on the Dollar, Russia and China will have to trade and keep reserves in USD for the foreseeable future says Walter Lohman, Director of The Heritage Foundation's Asian Studies Center.

[edit on 25-7-2009 by SLAYER69]

posted on Jul, 25 2009 @ 02:36 AM
Many seem to respond to a looming crisis as a junkie whose drug supply line has been cut.

Some people will revolt and lash out against society, most people will come together and share. With so much fertile land, enough people and machines to work and distribute it, America shouldn't worry - just prepare to see a lot of luxury go. No more new cpu's every quarter but every 5 years, a lot less Hollywood blockbusters and music videos, more youtube movies instead, less expensive clothing, less expensive cars, less expensive of everything. No more class seperation - everybody will be considered poor. Maybe houses will become government property and given to the homeless, along with a food distribution system this should make most people happy enough to keep going.

In the end it might be there's a nation left with only generic Acme brand products, but at least that will be better than what most countries will have. America has the best chance to survive without much struggle, maybe it should just return to isolationism as it once did, it has all the resources and knowledge necessary to keep themselves happy.

[edit on 25/7/2009 by Dragonfly79]

posted on Jul, 25 2009 @ 02:36 AM

Russias Kurdin Signals No Alternative To US Dollar - Bloomberg

[edit on 25-7-2009 by SLAYER69]

posted on Jul, 25 2009 @ 03:11 AM

Umm. Not really. There was that guy in Central Europe who got the whiff of the euro coming so he stack up on boxes of condoms, coz he thought that things would get f-cked up real bad when the Bilderbergs destroy the money he was used to. But the euro wasn't a disaster so what's the big deal about the dollar dumping?

I wonder what kind of faces will appear in those new notes. Hitler is a well known person around the world . . . Madona . . . Tom Cruise . . . maybe someone from the 6th Chinese emperor dynasty . . . na$ty be$ty . . . What time is it? (yawn)

posted on Jul, 25 2009 @ 03:20 AM
reply to post by warrenb

Nice one WB, you know who the most dangerous people are going to be under these circumstances ?

Your neighbour, your friends who rediculed you whilst you saw it coming and prepared your self and your family.

They will blame you for not warning them and try to take your stash, sad but true !!

posted on Jul, 25 2009 @ 03:34 AM
I'm busy falling under the radar and dropping out of the economy anyhow, so I don't see it affecting me much either way it goes. Bye bye internet will be about my biggest challenge. Not hoarding gold or silver - I can't eat 'em if the bottom falls out of the economy for whatever reason.

posted on Jul, 25 2009 @ 03:43 AM
U.S. kicks economic diplomacy with China up a notch

WASHINGTON (Reuters) - The United States aims to draw China more fully into helping reshape the global economy by broadening bilateral economic talks to include diplomatic issues and so recognize Beijing as a more equal partner in world affairs.

"We need to have a frank discussion with the Chinese and they need to prepare for a new U.S. economy and a new global economy," a senior U.S. Treasury official told reporters on Thursday. He said the new reality was one in which the U.S. economy recovers slowly and consumers no longer spend freely.


"Both U.S. and Chinese policy-makers seem to underestimate how difficult the transition is going to be for China, and how vulnerable China is to the speed with which the U.S. adjustment in net consumption takes place," he said.

He warned, however, that China and the United States have fallen into an unhealthy economic dependency that will be exceptionally hard to correct.

"It's like two drunks leaning on one another in a bar -- we reinforce one another's worst instincts because we continue to borrow from them and they keep expanding exports and lending money to us to buy them," he said. "It's extremely hard for either to stop."

posted on Jul, 25 2009 @ 03:50 AM

Originally posted by ChemBreather
reply to post by warrenb

Your neighbour, your friends who rediculed you whilst you saw it coming and prepared your self and your family.

They will blame you for not warning them and try to take your stash, sad but true !!

Sad but probably quite accurate. You will also be labeled an opportunist and a hoarder and will likely get the short end of the stick when it comes to the powers that be and their new emergency legislation.

posted on Jul, 25 2009 @ 04:12 AM
Wow, this is a potent thread. I'd like to throw in my 2 cents worth. The ones here who think everything is going to turn around, and be rosy in a few months have been listening to too much MSM. There are dynamics in play that we haven't seen since the 30's. The little bit of good news out there is much overshadowed by continous bad after bad news. There is no good news out there that ammounts to anything.

One also needs to grasp the concept that we have entered into historic times and conditions that we have never been in before. regular financial logic that might have applied before, has been thrown out and stomped on by FED officials , using continuos catastrophic measures to prop up a failing economy.

One simple economic principle that will not be denied, you can't keep spending money that you don't have. Even when you own the printing presses, you need confidence in the dollar for it to be continued to be used as a reserve currency. That confidence is obviously lacking. it will come to a head soon. No one should be so naive to think that the other countries that are talking about dumping the dollar won't do this or that---they will do what they need to do. You better believe the FED is worried about what they think.

Don't forget what happened to Gethnier when he told the Chinease that the dollar was a strong and safe reserve currency, and they had nothing to worry about, they laughed at him. If the regular press in China knows we are toast, the rulers in China know a lot more. They want out, and are just trying to figure out a way to do that.

I think the world knows we are toast, and many people here in the US still are going to work everyday thinking everything is ok. It's obviously not. Things will come to a head soon, and a lot of supposidely smart financial people will be left scratching their collective heads wondering, "how could I have not seen that coming"? The stall techniques used by the FED, will only work so long. But for now, nobody wants to buy what the FED is selling. it's going to get interesting real soon.

posted on Jul, 25 2009 @ 04:45 AM
Am I missing something, or are we ignoring an obvious problem here? All the discussion seems to be centered on whether foreign nations dump the dollar as the reserve currency.

We seem to be ignoring the other 900 lb gorrila in the room. Even if the other countries don't dump the dollar as a reserve, what happens when they refuse to buy anymore of the debt when it comes up for auction. That has been a serious problem of late. They are not buying our debt from us anymore. That's why the FED was buying some of it themselves. That can't be good, and how long can that continue and not have dire consequences??

If I'm thinking right, even if the other countries keep the dollar as a reserve, won't we still have a major problem if they refuse to buy anymore of our debt, or am I missing something??

posted on Jul, 25 2009 @ 05:10 AM

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

China is not only the world's largest Gold producer , but also a major fabricator & exporter of Gold jewelry. Additionally , they've been exporting these beauties for near 30yrs.

On the recent gains in the stock market , the Fed desperately needs to create a new bubble , that's their business...boom/bust. Inflation/deflation are the result of specific policy decisions. Fed proxy financial institutions are awash in newly created $...and...they have trading desks
So we see stock prices rising even in the midst of horrendous fundamentals.....without a retest of the March lows

Food for thought....

Rising prices also means that the purchasing power of the $USD is falling with respect to stocks...though investors don't generally think in these terms. In stocks , most eyes are focused on nominal values.

Increasing the quantity of $ will eventually translate to increased prices...somewhere...but not necessarily broadly , once. Unless we begin to see the value of $USD rise strongly against other currencies , hard assets , and ultimately against goods and services , we may be witnessing the initial effects of Fed induced asset inflation (stocks - commodities - precious metals).

posted on Jul, 25 2009 @ 05:22 AM

Originally posted by uspatriot109
You will have to have a wheelbarrel full of money to get a loaf of bread.
Simplest way I can explain it.

Hyperinflation. Is that what you mean?

posted on Jul, 25 2009 @ 06:07 AM

Originally posted by jprophet420
I'm not really worried as we feed them and only take dollars. Thats a common oversight that paranoids make. When we start taking euros and yen for our wheat and corn ill be worried.

Well if your using wheat as a foundation to your economy it
appears some jokers are intentionally spreading this nasty
around the world for whatever reasons.

No one has proof it is being done on purpose yet.

Wheat Rust fungus may wipe out 80% of Earth's Wheat

This again makes me wonder if all this is happening at the same time
by design, and why for my survival approach I have taken several
unorthodox methods, as I do not want to tie myself to any large scale
common denominators that can be manipulated.

posted on Jul, 25 2009 @ 06:19 AM

Originally posted by GreenBicMan
reply to post by Ex_MislTech

Interesting.. and who really is the IMF?

Its the same thing except on a more global level IMO

The IMF is a Quorum of nations with voting power based on different
economic factors, and at any point several countries such as
China, India, Russia and a few others that are pissed at the US can
drive monetary policy and FOREX relevance against the SDR
if it was the World's reserve currency.

IMF voting points list

The US is the top single member, but it just takes several grouping
together to out vote the US on exchange rates and other issues.

When the world tells us we must devalue the dollar due to the trillions
we are printing out of thin air like Zimbabwe is doing then you will see
the cost of imported items rise, and value of our exports fall.

If we get less money for anything we sell, then that will further lower
the economy here.

If it costs more to import 80% of our oil that will lower the economy.

If the morons in the government try to print even more money to
inflate their way out of it, it just makes it worse, not better.

It basically takes anyone that has savings in dollars and makes
them worth less and once ppl see that, they will try to cash out there

All it takes is a fear factor large enough to trigger a bank run and
if they run to silver, gold, platinum, or another non US tied stable
currency then the value of the dollar will collapse.

As the writer of Confessions of an Economic Hitman wrote, in my
early post this has been done to other countries by design,
and his boss briefly admitted it, and by extension it is being
done to the USA now.

[edit on 25-7-2009 by Ex_MislTech]

posted on Jul, 25 2009 @ 06:34 AM

Originally posted by GreenBicMan

Originally posted by burntheships
reply to post by GreenBicMan

No he is not "retarded"...that is Karl Denninger.

You may not agree with him, but I would venture to say he has extensive experience that far outweighs yours.

Name calling...bad taste.

I have seen some of his quotes about how the bond market was going to crash etc... all garbage.

And if you can tell me in any fashion how a market that moves tick by tick every second could be construed to be front running trades in front of the DX?

It is impossible.

Sorry, if ANYONE can refute me I will delete my name and never come back on this board. I swear.

Well first I don't want you to delete your account, and secondly
you make a good sounding board against the highly optimistic.

What can front run trades is the missing goldman sachs software.

High Frequency trading software

Goldman had somehow managed to see what orders ppl were buying
and could make a move before those ppl bought, that in turn would
benefit Goldman.

federal prosecutor said could “manipulate markets in unfair ways”

This came to light and the implications when an employee stole the
software and uploaded to an eastern bloc sever in europe.

posted on Jul, 25 2009 @ 06:50 AM

Originally posted by SLAYER69
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.”

Again, I understand ppl preach the power of positive thinking.

But history shows us bad things happen.

BRIC calls for SDR to replace dollar as world reserve currency

"The most tangible manifestation of the BRICs’ growing financial clout is the IMF’s expected issuance of bonds denominated in Special Drawing Rights (SDR)."

These 4 have aligned, and other nations that do not like US hegemony
will join them and the days are numbered.

Any country that still holds a grudge or could benefit monetarily is
likely to join this deal, hell some of the ones onboard can bribe
others to join the SDR group.

Geithner saying open to new world reserve currency plunges dollar

Like I said in another post, just Geithner mentioning he was open
to the idea saw the dollar fall more in one week, than it had in
a single week in the past 24 years.

[edit on 25-7-2009 by Ex_MislTech]

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