The SHTF Turning Point Quietly Happened, Last Week – Have you been Paying Attention?

Originally posted by BaronVonGodzilla
I have alot of debt, absolutely no money, and I am not sure what I will do in the very near future.

You are sitting inside the same hole with the US government -- lots of debt and not much revenue to cover the expenses. Maybe you should ask Obama to give you an advice on how to climb the slippery walls.

If I had a dollar for every time there was a thread on ATS about how we have hit the 'SHTF turning point' I would be able to pay off the US debt.

Just kidding, we're doomed. The 'rise' in the Canadian dollar as a result of this has destroyed what was left of the lumber industry, I am out of a job and there are no other jobs to go to.

Bullets, beans, and band-aids folks....

Originally posted by silo13
reply to post by marg6043

 

Please don’t pigeonhole me as a tourist to get the OP out of the hole she dug for herself.

As I had stated Cuba for one - is refusing any U.S. dollars - I am now trying to find the articles I have read in the last few weeks about tourist being in other countries (Asian) that have refused to take their credit cards (if U.S. dollar based) or American Dollars for payment.

So when I say countries - I mean countries (merchants) refusing to take U.S. dollars.

I don't save every article I read - but I DO KNOW I have been reading more and more about those incidents happening.

I will keep searching to try and find those articles.

But someone I personally know - told me how when he went to Cuba 2 months ago (he has gone a few times) - when he got there - Cuba - refused to take his dollars - he said they are not accepted there anymore.

EDIT- I found an article - of what I was talking about and have been challenged on it by Silo - with my statement of countries not accepting the U.S. dollar.


As above - Cuba

Here is an article
link:www.cnbc.com... -
this was from March - will continue to look for ones I have read, more recent.

SAO PAULO, Brazil - Antique store owners in lower Manhattan, ticket vendors at India's Taj Mahal and Brazilian business executives heading to China all have one thing in common these days: They don't want U.S. dollars.

Hit by a free fall with no end in sight, the once-mighty U.S. dollar is no longer just crashing on currency markets and making life more expensive for American tourists and business people abroad: Its clout is evaporating worldwide as foreign businesses and individuals turn to other currencies.

At the Taj Mahal, dollars were always legal tender, alongside rupees, for entry into the palace. But because of the falling value of the dollar, the government implemented a rupees-only policy a month ago. Indian merchants catering to tourists have also turned bearish on the dollar.

"Now we tell people not to take dollars when they go abroad, it's better to change it directly to the local currency," said Fabio Agostinho, one of the firm's managing partners. "If people leave here with dollars and go abroad, they lose when they exchange them. It's the same thing whether they're heading to China, Europe or even Argentina."

In Peru, where savings in U.S. dollars were long a popular hedge against inflation, many citizens are closing dollar accounts in favor of Peruvian soles.

At the same time, businesses like supermarkets, movie theaters and cable TV companies that used to accept dollars are now demanding soles.

Again, there is more of a case for my statement - from more recent articles. But as you see, I did not make that statement out of thin air.













[edit on 3-8-2009 by questioningall]

Originally posted by stander
reply to post by mckyle

 

The retail acceptance or rejection of a particular currency usually rides on the developments in the money market. A few merchants who allegedly refuse to accept USD don't mean anything. The absence of the Chinese money men during the Treasury auctions signals something, though. But the record-breaking deficit the government is running these days is something quite disturbing. I believe it may be on the same level with the apprehensive look at the subprime bubble, as it looked at the end of 2006. Then it developed into major fiasco affecting the whole world.

Agreed

I think the Chinese are moderating their exposure, but they too are all too aware that they have a vested interest. If the US goes belly-up, China, and a certain group in Eastern Europe will precipitate a reaction that will pale everything else.

However, I am cautiously confident that as long as energy keeps down for the next three years, we will pull through this with some unexpected technology bonuses.



[edit on 3-8-2009 by mckyle]

USDX fell through major support at 78.30/40.

Next stop 76, then 72 then 52.

I'm off to the gold dealers this week to get some old yella and bury it in the garden

reply to post by questioningall


Credit Card currency problems

I found at least one report on credit card snafu's with the currency problems!

Zindo

business.timesonline.co.uk...

China accelerating the move to make the Yuan the International Currency.

China is rapidly accelerating its efforts to internationalise its currency with a series of manoeuvres that could see the renminbi soar to become one of the top three traded monetary units in the world.

The radical change in attitude may arise from a desire to protect China from the “dollar trap” — the problem that emerges when exporting countries are effectively forced to shovel large chunks of their reserves into the US treasury and suffer the consequences in times of high volatility.

Much more of the article at link

Originally posted by ZindoDoone
reply to post by aleon1018

 

You don't have to melt them down to maintain their value. Those coins a 90% silver and maintain their value as long as you still see the engraving on the face of the coins. If anything maintaining them in original condition may pay off better than face weight value if you happen to find or they become rare collectible coins!

Zindo

I guess that answers my question about melting silver coins down for their silver value than. My Great uncle had a silver coin collection that isn't in very good condition anyway. My guess is than not to buy these old coins for that purpose.

very well put together. Anyone who was in the dark about the collapse of the american economy can very easily see that the US is in for some hard times. It makes you wonder if all of these "SELL YOUR GOLD FOR CASH" schemes are just the FED trying hard to back up their dollar.
Great work OP as always.

Originally posted by questioningall
business.timesonline.co.uk...

China accelerating the move to make the Yuan the International Currency.

China is rapidly accelerating its efforts to internationalise its currency with a series of manoeuvres that could see the renminbi soar to become one of the top three traded monetary units in the world.

The radical change in attitude may arise from a desire to protect China from the “dollar trap” — the problem that emerges when exporting countries are effectively forced to shovel large chunks of their reserves into the US treasury and suffer the consequences in times of high volatility.

Much more of the article at link

What kind of BS is that? No one forced the Chinese not to buy goods manufactured in the US. They decided to boost their domestic production skyhigh on their own years ago. So they wound up with trade surplus dollars and decided to keep buying US Treasuries en masse. Every business decision carries a risk. Since the Chinese went along the communist philosophy for too long, they forgot what capitalism is all about -- there are risks involved in any undertaking.

The Internet is full of crap and it's getting worse . . .

reply to post by stander

Maybe it would be better to short all the premises and elaborate on what is coming. All I can see is that the Chinese are no longer interested in buying US Treasuries. Since the trade deficit with China is staggering due to the Chinese unwillingness to buy anything from the USA, then they have to invest the dollars, which they are paid by Walmart and the likes, into something else -- if they keep not showing up in the auctions. More on this here: articles.moneycentral.msn.com... So what is coming and when and why that would of our concern?

Farmers think the World Bank wants US farmland. We grow much of the world's grain supply. Banks prefer GOVERNMENT owned land as a collateral so we think the recent food safety bills are designed to force farmers off the land using HUGE fines and massive red tape. The World Bank has stepped in after a country is bankrupt, outlined how the country was to be run, and pushed farmers of the land so Corporations could take over. It was just done in Mexico. 75% of the farmers were pushed off the land that is why we have so many illegals.

I think we will be allowed to flounder for a couple of years, dragging much of the rest of the world with us. This allows foreclosures and take over of much of the land by banks and the government. Then the World Bank and the UN will step in to "generously" straighten out the mess . Voila a world feudal state run by the elite with the rest of us as serfs.

Change your view point. WHY has the UN, World Bank and the elite such as the Rockefellers funded Greenpeace and Sierra Club and supported enviromentalism? Because they want all the land and mineral resoursce for themselves and did not want them used before they got their grubby mitts on them!

reply to post by RankRancid

Now my tips for you as a 3rd worlder is plant carrots,tomato's and po-ta-toes. Make a chicken pen and start fending for yourselves. It's a simple life but a nice one.

Already there. I have my herd of sheep and goats and my neighbor does the big garden. Have the horses to pull my horse drawn plow, disc and manure spreader too. I am fencing in as much extra pasture as I can and looking to put in a windmill-pond-waterfall-pond electric generating system. Boy am I glad I left the big city a few years ago

reply to post by crimvelvet


Just exactly right Amigo. You hit the elitist nail directly on it's head! We have absolutely no surplus of any food stuffs. It has all been sold and not reclaimed! Farmers are being harassed about water rights and acreage planted and taxed on yields with no regard to market price or the outcome of the futures market. They play both sides on commodities and win every time. I can tel you from experience that farmers in our midwest are really sick of the manic regulation. They do not understand why a chicken inspector is armed to investigate how many chicken and eggs you sell! They don;t understand why they are not creating 80% of the grain that used to feed the world. Also, why we are importing food stuffs with no safeguards but they have regulations that squash them under jackboots of the agriculture dept. that make no common sense!
Zindo

Originally posted by crimvelvet
Change your view point. WHY has the UN, World Bank and the elite such as the Rockefellers funded Greenpeace and Sierra Club and supported enviromentalism? Because they want all the land and mineral resoursce for themselves and did not want them used before they got their grubby mitts on them!

I guess it's time to change "greenpeace" into "greenbacklaundryclean."

A non-profit watchdog group today filed a complaint with the Internal Revenue Service against Greenpeace, accusing the organization of illegally soliciting and transferring millions of dollars in tax-deductible contributions.
In a report titled "Green Peace, Dirty Money: Tax Violations in the World of Non-Profits," Public Interest Watch (PIW) accused Greenpeace - one of the world's most recognizable and visible non-profits - of knowingly and systematically violating United States tax laws.

www.publicinterestwatch.org...

Everyone seems to violate the US tax laws. That's why the deficit is getting higher and the US Treasury auctions rawdy.

reply to post by stander


Have you seen the TV specials that are about Green Peace on Discovery. They have been paid mucho bucks for that crap and staged scenes and illusory facts they portray. I have absolutely no regard for the organization or those in charge of it. The poor drones they have swindled that work for them need a brain transplant! I hope they loose their funding over the suit because it bares a lot of truth!

Zindo

reply to post by silo13


No problem it was just a joke, still the thread OP is very good and informative but as usual you have to take most of the information research it and make your own conclusions.

Is many factors pointing to US getting into another hole, but you know that, still the bad assets that cause the crisis with the banks has not been erased yet.

Is a fact that about 10 trillion of bad credit is still circulating affecting nations oversea.

I believe that another stimulus will be heading our way before the year is over.

reply to post by XKrossX

Thats why I had been advocating we should have spent all that stimulus money on agriculture. We could have sold the rest of the world food. Fed people are generally happy people.

Nope will not happen.
Congress is too buzy trying to pass World Trade Organization aka "food safety" bills designed to bankrupt US farmers. There is a famine planned either this winter or next. Pres. Clinton and Cargill VP Dan Amstruz, got rid of US food stockpiles so Cargill could make money off famines.

Al Gore warned kids when he was VP "there will be no more US farming,." showcase.netins.net...

reply to post by ZindoDoone


I can remember seeing, back in the mid eighties, employment want ads. "$10/hr for protesters" in the Boston Globe. That was big bucks back then at least twice the going rate for flipping hamburgers. I think the group was good old Green Peace.

I always get a big kick out of the fact that the holier that thou Green Peace and Sierra Club gets mega bucks from several Rockefeller Foundations as in Standard Oil MONEY!!! And the big Kyoto leader Maurice Strong, father of the environmental movement, was a director of the Rockefeller Foundation

Keep that tucked away for the next liberal "they get money from the oil companies flame"

reply to post by mckyle

For what it's worth, I am a professor of Economic History, and I can assure that the Global Meltdown is too important an issue to allow yourselves to accept at face value the postings of someone who clearly has a very superficial grasp of the situation. Matt

DO you have a web site or thread that goes more deeply into what is happening? But does so in simple easy to understand terms. I read A Primer on Money: Congressional COMMITTEE ON BANKING AND CURRENCY. But like most here I have no training and little knowledge on economics. A dreadful failing of our high schools in this country.

Originally posted by questioningall
business.timesonline.co.uk...

China accelerating the move to make the Yuan the International Currency.

China is rapidly accelerating its efforts to internationalise its currency with a series of manoeuvres that could see the renminbi soar to become one of the top three traded monetary units in the world.

The radical change in attitude may arise from a desire to protect China from the “dollar trap” — the problem that emerges when exporting countries are effectively forced to shovel large chunks of their reserves into the US treasury and suffer the consequences in times of high volatility.

Much more of the article at link

Yet again, we see that you are delieberatley misleading the board

The title of the article has a very different meaning to the false one you have posted.

The authentic title is:

"China moves to internationalise its currency"
Link to Authentic Title

Your bogus title is desinged to make people think China wants the RMB to be "the international currency".

And that is simply NOT the case!

Your actions are totally dishonest. You have fabricated the title of a news paper article for your own ends.

As this is not the first time, I personally think you should be banned.



[edit on 3-8-2009 by mckyle]

[edit on 3-8-2009 by mckyle]

[edit on 3-8-2009 by mckyle]