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Dollar loses reserve status to yen & euro

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posted on Nov, 17 2009 @ 03:30 AM
99% of you worry about 10000% too much about what the dollar is at.

If you are not dining in Paris during the weekends, this has minimal effect on you. If you have a 401k, you should be somewhat happy as the dollar falls bc your portfolio will exponentially outgain any currency loss you may have been subjected to.

About 8 months ago I heard NO ONE on these boards say they dollar is strong so everything is all good (dow at 6600).

The reason is uneducated readers and misinformants/disinformation in the media.

posted on Nov, 17 2009 @ 03:33 AM
then, I'll rest my case

thanks for your info

posted on Nov, 18 2009 @ 01:54 PM
Anatomy of a currency crisis.

Just some light reading for ya'all while I continue my search for evidence of the ever elusive Strong Dollar Policy


18 The Day the Dollar Died
by John Galt

November 18, 2009

The following story in italics is a potential fictional time line for the day the dollar died. I hope not to instill fear or loathing but to give everyone some perspective on a POSSIBLE outcome which does not really take much of a reach to come to any conclusion. Despite popular belief and promises from those who wish to rob you of your savings and investments, the collapse of the dollar might just be an event measured in hours, not days as their control is not what it seems…..

0600 ET

The speech was low key, solemn and to the point. Obama announced a one week bank holiday. All credit card transactions and all collection actions of any sort were hereby suspended for seven days. All financial markets were closed until further notice. All mortgage and bill payment due dates were suspended for thirty days and no past due notices nor penalties were to be allowed by Federal Law. All schools were closed for seventy-two hours be they public or private. The city of Washington, D.C. was hereby declared to be under a state of martial law and all citizens were ordered to observe a curfew from 8 p.m. to 8 a.m. daily. Just as that sunk in, Ben Bernanke stepped up to the microphone to announce that President Obama, Treasury Secretary Geithner and all of the Federal Reserve Presidents along with himself were going to depart for Geneva for an emergency meeting of the G-20, IMF, World Bank and United Nations Financial Stability Working Group. Bernanke also announced that Citigroup, N.A. and Bank of America were hereby nationalized and placed under control of the United States Treasury under the auspices of the FDIC and that Sheila Barr would have an announcement at 8 a.m. Eastern. As he finished the announcement, an obviously exhausted Federal Reserve Chairman concluded by assuring the citizens of the nation that a stable currency was their only goal from this meeting of world financial leaders. I noted he did not say what currency though he was referring to.

Full Text

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