Dollar Will be "Utterly Destroyed"
Dollar Will be "Utterly Destroyed": Strategist
Published: Friday, 6 Nov 2009 | 3:09 AM ET Text Size By: CNBC.com
The dollar will get "utterly destroyed" and become "virtually worthless", said Damon Vickers, chief investment officer of Nine Points Capital
Partners.
"We don't have resources. Neither does a lot of Asia to be quite frank," Vickers said on CNBC's Asia Squawk Box. "Countries that have resources
-- the Brazils, the Canadas, Australia -- their currencies are doing well."
Vickers noted that their stock markets have done the best year-to-date.
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[edit on 11/12/2009 by TheRedneck]
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Nine Points has been beating this drum ever more loudly for quite some time.
It's almost as if it were a mantra or prayer that they use hoping to conjure the desired result by repeating it in every manner and on every medium
possible.
The US has plenty to export.
Just becuase the chief export today is jobs, doesn't mean the resources are gone, it just means the corporate coyotes are playing games....
But you know what? THEY know that.
Which seems to indicate that when it comes to the trustworthiness of the financial industry ... no opinion they express, no observation that they make
can be taken at face value.
[edit on 12-11-2009 by Maxmars]
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reply to post by Jack Jouett
While what he says may be true, we have the largest oil, Natural Gas, and gold deposts then any other country... Not to mentio silver mines, copper
depots, oil shales, and 300 M people....
I am not to keen on how the econmoy works, or doesnt work in this case, someone please answer this. If the goverment were to set the dollar as an
actual dollar, (not let it fluctuate) and reduce the amount of dollars in holdings and stop selling it off. Would that work?
Is there a way to reset the economy back to the 50s were you could live off of a hundred dollars a week and still be able to buy things and pay your
mortages?
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reply to post by poedxsoldiervet
Is there a way to reset the economy back to the 50s were you could live off of a hundred dollars a week and still be able to buy things and pay your
mortages?
Yes
First kick out the bankers who are stealing us blind.
Second repeal most of the laws stiffling freedom and industry
Third vote for a black President - Bill Cosby!
From Savageheart at ATS
AMERICA NEEDS A CANDIDATE WITH THIS PLATFORM!!
I HAVE DECIDED TO BECOME A WRITE-IN CANDIDATE FOR PRESIDENT IN THE YEAR 2012
HERE IS MY PLATFORM:
(1). Any use of the phrase: 'Press 1 for English' is immediately banned. English is the official language; speak it or wait outside of our borders
until you can.
(2). We will immediately go into a two year isolationist attitude in order to straighten out the greedy big business posture in this country. America
will allow NO imports, and we'll do no exports. We will use the 'Wal-Mart's policy, 'If we ain't got it, you don't need it.' We'll make it
here and sell it here!
(3). When imports are allowed, there will be a 100% import tax on it coming in here.
(4). All retired military personnel will be required to man one of the many observation towers located on the southern border of the United States
(six month tour). They will be under strict orders not to fire on SOUTHBOUND aliens.
(5). Social Security will immediately return to its original state. If you didn't put nuttin in, you ain't gettin nuttin out. Neither the President
nor any other politician will be able to touch it.
(6). Welfare. -- Checks will be handed out on Fridays, at the end of the 40 hour school week, the successful completion of a urinalysis test for
drugs, and passing grades.
(7). Professional Athletes -- Steroids? The FIRST time you check positive you're banned from sports .... for life.
(8). Crime -- We will adopt the Turkish method, i.e., the first time you steal, you lose your right hand. There is no more 'life sentences'. If
convicted of murder, you will be put to death by the same method you chose for the victim you killed: gun, knife, strangulation, etc.
(9). One export of ours will be allowed: wheat; because the world needs to eat. However, a bushel of wheat will be the exact price of a barrel of
oil.
(10). All foreign aid, using American taxpayer money, will immediately cease and the saved money will help to pay off the national debt and,
ultimately, lower taxes. When disasters occur around the world, we'll ask The American People if they want to donate to a disaster fund and each
citizen can make the decision as to whether, or not, it's a worthy cause.
(11). The Pledge of Allegiance will be said every day at school and every day in Congress.
(12). The National Anthem will be played at all appropriate ceremonies, sporting events, outings, etc.
My apology is offered if I've stepped on anyone's toes.... nevertheless....
GOD BLESS AMERICA !
Sincerely, Bill Cosby
This is a HOAX by the way. I really like "America will allow NO imports, and we'll do no exports. We will use the 'Wal-Mart's policy,...
but shouldn't it read "China-Mart???
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reply to post by poedxsoldiervet
Hey poedexsoldier, I don't know about the rest of them but, I do know that the US does not have more oil or gold than any other country. We do have
plenty of both but we're not even in the top 10 in oil.
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Wow, what we talk about is now on the MSM.
This may actually happen 
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reply to post by Jack Jouett
I'm not sure what they're smoking over there in Seattle but
the USA is a lot stronger than he thinks. "We have nothing
to export???"
Give me a break.
Who on Earth makes the CPUs? Intel and AMD
Who has the technology to switch from 45 nanometer to 32 nanometer
circuit paths?
Apple appears to be exporting a few things.
iPods / iPhones / iMacs / MacBooks
The USA is an economic and military superpower.
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reply to post by Eurisko2012
I believe what he is trying to say is that america does not export AMERICAN goods, ie, most of the goods america makes is made in other countries,
like china and mexico. America's economy is nothing more than illusion, it's a debt economy being held together with ducktape and staples by the
federal reserve. There is no such thing as a jobless recovery, there is will only be more joblessness. America is no economic superpower. The only
thing other countries want to buy thats made in the usa is WMDs.
Hasnt anyone learned from the engineered crash of 1929? back then they were saying it was only temporary and there's nothing to worry about, blah
blah blah.
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reply to post by thereaintnospoon
Look at the USA GDP and GNP.
We are an economic superpower.
Look at the superpowers just on the internet.
Google, Amazon, Yahoo,eBay etc.
Those companies are not from Europe or Canada or Japan.
Our oil companies are making lots of $$$.
I could go through the entire Dow 30 components.
AT&T and Verizon appear to be making lots of $$$.
---------------------------------------------------------
The USA will NOT be joining any New World Order.
I think we will however be switching to a cashless system
in order to harness the underground economy.
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