Just came across this dollar collapse scenario; apologies if its been posted elswhere. Your daily serving of doomb to chew on. NYC is asleep, Tokyo
and Hong Kong are on lunch break, what else you gonna do with your time right now?
The 14-day scenario begins with a Chinese retrenchment from the US debt market, leading to a frozen market with no buyers, liquidity crisis, etc.
Silver quadruples, interest rates are hiked multiple times but no dice. The "great Wall Street freeze" leads to panic, social unrest around the globe,
and the devistation of world markets. The IMF/G20 hammer out a restructuring of the global economy with a debt reset and a one-world currency system.
The vision laid out in the video strikes me as one of several plausible worst-case hard landing scenarios -- one with a pronounced deflationist bias.
edit on 2/15/11 by silent thunder because: (no reason given)
Well I believe this will happen but only for as long as America can hide whats happening now when that gets opened up that will be the start and that
will be when silver jumps big time as people have realised silver has been sold that doesn't exist. But the only problem with this video is the end
where it just ends up being a sales add kind of ruined it and no i won't buy that book either lol
S&F "Don't panic", Yeah ok, because everyone is going to sit back and wait for the governments to fix it all. I personally think we are
on borrowed time as it is. Let's hope it doesn't have to come to this.
Blah, blah, blah. Only people that believe this crap are the ones that can't really figure out how things work. First off our debt to the Chinese is
less than 10% of our debt. Most of our debt is owned by pension funds and american investors. The other thing believers are missing is that the
federal reserve has basically been buying our debt via interest free loans to the banks. The banks make money for nothing. You won't see either the
banks or the Fed running away anytime soon. If anything the Chinese are owed american money. I would say they are in more trouble in this particular
If we have a dollar crisis it will come with a crashing of the foriegn exchange rate. It won't be because the dollar will be worthless in america.
Americans will be fine, they will just cut their travel abroad and the jobs will return. Domestic inflation will be muted as less face it. There is
simply not enough money available out there in order to run the economy. It's going too make it pretty hard to have any type of runaway inflation.If
anything we will replicate Japan after the Yen got hammered.Not much happening for them on a global growth scale but their people are happy and doing
ok. You also never quite had the Yen armeggedon that was being bantered about in the days when it was severly troubled.
edit on 15-2-2011 by sligtlyskeptical because: Horrid spelling
I enjoyed the first one somewhat until it came to a global currency being produced and distributed in 14 days. Then I got to the end and saw its an
advertisement for someone's book and it lost all credibility.
A global currency would take months to produce, distribute and put in effect. In my opinion continents may unite to for some sort of unified currency
but I don't think a global one is anywhere close. It would be an act of desperation because all paper monetary systems will eventually fail and if
all were combined into one global currency....what happens when that one finally crashes..?
Also, I don't believe the rest of the globe will be hit as hard as this video portrays, as they are taking the necessary steps now in advance to
remove themselves from the dollar before it happens. They will be hurt, but America will be devastated,
right..because the US can sustain itself on its own oil, food, and manufacturing base...this isn't the 1800's anymore. We buy everything and what do
you think happens to things you buy from other countries once your currency is destroyed?
I did some China research today. China's inflation rate is currently up to 6% and their entire economy is very volatile. Food prices are up due about
10% due to a drought in the north causing great unrest in the interior.
A level head and a perspective is needed regarding China.
The biggest problem with the dollar collapsing is there is absolutly nothing to replace it.None of the worlds other currencies are as easilly
convertable or in such widespread use.Until there is a new global reserve currency or an imf backed basket of them wich is years away at best the
dollar wont be collapsing.
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