The Ultimate Destruction of the US Dollar and World Markets Will Not Happen

This is pretty much in response to Damon Vickers' 15 day devastation scenario on world markets, triggered by China not buying US bonds which subsequently collapses the US dollar. He claims the Dow will even drop around 3,000 points in a single day, and there will be carnage in all types of markets around the world. He also claims the Fed will be forced to increase interest rates by up to 6% in a day, to desperately entice investment in the US. The net result from all this devastation will be a creation of a single world currency by a unified world order.

The following is from www.wealthbuildingcourse.com...

"This begins with a Chinese choice to not buy any more U.S. Treasuries. That single day will be the death nail in the dollar’s coffin. Over the next two weeks, events will spin out of control in financial markets the world over....Vickers lays out scenes of chaos and rioting, looting of grocery stores, empty ATM machines, and shootings around the world."

The following is from Glen Beck's segment on the dollar's decline and it's well worth a watch:
www.youtube.com...

The diagrams are to the point.

I don't see this scenario playing-out like this. Do you? Pressure is definitely mounting on the Fed to further protect the USD. QE3 may be an option mid year. Bill Gross has done an about face by not buying treasuries and this has alarmed many. Vickers is saying the Chinese will be next. Maybe, but this will do more harm to China as it still will peg its currency, the yuan, to the US dollar. If China breaks free form the USD its currency will appreciate so much in such a short amount of time that it will do long term damage to its economy. Even if China pegs the yuan to the euro, it will still appreciate. The Chinese played their hand and used the USD to take advantage of markets and it has to live with this. Vickers doesn't seem to account for this dynamic. He makes it out that China can easily stop buying US bonds. They might but go ahead and see which country benefits the least. This will be more devastating for the Chinese and other Asian countries.

The US dollar is destined to fall further but I don't see it eventually being replaced by a unified world currency. This is something all governments would want to avoid especially the US government (military etc too). A unified currency for the world just won't work. It will eliminate the necessary (competitive) dynamics that all countries need to function.

There's nothing intrinsically wrong with any type of currency, like the USD, itself. The practices associated with lending, trading, speculating etc are the problem. A single world currency won't 'fix' these flawed practices and newer, less predictable (at the outset) problems would surface.

Vickers talks about debt resets which is an interesting concept, but can still work with the set of world currencies we have today.

Just look at Europe with the euro. Countries like Greece and Ireland have lost their freedom to print money in times of trouble and have gone to the European Central Bank for loans. The EU setup has made the ECB a big bank that will lend money to countries that were destined to go to it for loans. This was bound to happen and it did!

A creation of a central world currency will dish-out pretty much the same headaches for countries, because you will eventually have a (new) world order operating as a big bank to nations. How many people want this to happen? Give me the system we have and let's go after those that want to destroy this free market system, even with all it's imperfections.


Here is Damon Vickers' video on his theory, but the Glen Beck one above is excellent:
www.damonvickers.com...

Everything has an ending.

That is natural law.

People's concept of time is skewed.

The dollar will end as sure as the apple will fall from the tree.

Peace

I don't see us spending a U.S. Federal Reserve Note by the end of 2012...May or may not happen..Doesn't really bother me as I don't have any money to lose....and 99% of the real rich have gotten theirs off the sweat of the rest of us or stole it, or both...and I really hope they do lose theirs....

I think the dollar is already dead. Remember when everyone used to be in love with pennies. You can tell its dying because the prices on everything are going up. Pretty soon its gonna be the 5 dollar bill then the 10 and so on. I mean can u Imagen when the hundred dollar bill is going to be as worthless as todays dollar? Hmmm dollar stores aint ever gonna be the same

The simple fact of the matter is that the powers that be will not let the dollar die out until they are ready for it to die. It could end tomorrow if they wanted it to, and it could last another 100 years. It is pretty much out of our control and impossible to predict.

Thats true pretty much everything is being controlled. But currency is just what we value it as. it can be worth 100 pounds of gold or 100 pounds of #. but your point stands money is worth what were told its worth and thats the bottom line. no matter what nothin can be done we lost control along time ago

reply to post by kon1foundas


Sorry to break this to you but it will..that is the way the whole system is designed..it would be an enormous stroke of divine intervention to stop what is going to happen here in the USA. But hey if it makes you feel less scared about the truth just keep believing that.Even though it was denial that led to all the problems we face..if you choose to think all will be well..mmm I feel sorry for anyone you may be responsible for looking after, you are going to put them all in a very bad predicament..Your source is going to be in the same trouble. Mark my words we are in alot of trouble..whether you choose to ignore it is up to you. I'll keep preparing..

reply to post by kon1foundas


I hate to say it , but hide and watch if this is true >>> us backing for world currency www.globalresearch.ca...

or maybe not, if there is any truth to the next link concerning China's deal with the US and eminent domain of the usa being given to china. Quote from link .>>>>>>>

THIS PERTINENT SECTION BELOW OF THE INTERNATIONAL FORECASTER DATED WEDNESDAY, FEBRUARY 23, 2011, CONFIRMS A USA TENDER TO CHINA-A WRITTEN AGREEMENT GRANTING AN OPTION TO EXERCISE EMINENT DOMAIN WITHIN THE USA, AS COLLATERAL FOR CHINA'S CONTINUED PURCHASE OF US TREASURY NOTES AND EXISTING US CURRENCY RESERVES. amd.elequity.com...


would like to find some confirmation on the second link , if any have heard of this

One of the alarming comments made by Vickers is that there is a new world order behind this. 'They' have often sought a single world currency (true!), one that they can control. I still think it won't happen. But if there is a 'conspiracy' to destroy the USD (and world currencies, markets etc) then it really is up to our best enforcement agencies (not necessarily law enforcing agencies!) to put a stop to this, before this so called new world order has their way. Imagine every one and every country having to go to these 'mobsters' for loans. So no country will be able to print its own currency, like Ireland and Greece for example, and will fore ever be indebted to a faceless few! I wonder how the military and other higher end law enforcement agencies feel about this potential move to strip them of their power and freedom?

This secretive organization won't, I believe, succeed in establishing a world currency, but instead, they will (unintentionally or intentionally) set to destroy the fabric and structure of all known and current world markets by pushing for the USD's collapse. Don't forget that pretty much everything can (and is) priced in US dollars. If they get their way then the GFC of 2008 will end up like the Queens Tournament before Wimbledon.

The world doesnt have to move to a single currency......

All the world has to do is move to a different reserve currency other than the dollar, and we will have lost anything that gave it value........

And heads up, many countries already are...........

Oil use to be bought and sold on the US dollar, its not goign to be that way much longer, they are already moving away from it.........

I hate to tell you this, but its happening..........and once that bottom drops out, there will be no value left in it

reply to post by infojunkie2


I have always thought that in order for the US Govt to enter into an agreement with another country ( such as a Treaty ) that it would have to be ratified by a 2 thirds vote of the Congress. When did that happen ????????

Did you know that after removing the head from a common snapping turtle its body can remain in motion for up to 24hrs? The same thing will happen when the dollar is dealt the death blow. It will technically be dead on its feet, but will remain in motion for a given amount of time. The dollar is losing value at an alarming rate, just take a look around. Things keep going up in price, and those that don't get smaller in quantity. Some will call it inflation setting in, and some will call it the USD losing value. The bottom line in my book is, if it costs me more tomorrow to purchase the same amount that I bought a week ago my dollars are obviously losing value no matter how you categorize it.

reply to post by fatboyinternational


I don't know if this has happened, this artical is the first I have heard on this.Like I said, I too would like to see some confirmation, as far as the ratification thing goes, that has never stopped Obama before, or has he been playing by the rules and I just mssed it.

or ask this question, do we know everything that obama has taken before congress for ratification?

reply to post by infojunkie2


There's a couple of threads on ATS about this, here's one.
www.abovetopsecret.com...


As far as the dollar collapsing thats a tough call, in many ways I think it already has. TPTB will always have money and creating all the current chaos is nothing more than a game to them, but there will always be money in the till for them to play with. We're definitely at a fork in the road, hard to say what's around the corner. The saying "The more things change, the more they stay the same" may be appropriate in the future.

reply to post by ManBehindTheMask


yes and I believe I read somewhere that china and russia have already agreed that when dealing with each other they will not be using the dollar

reply to post by mtnshredder


thanks for the link, I am sorta new here, so i didn't know of this, has anyone ever actually seen or produced the docs for evidence

Bob Chapman of the international foecaster is batting 950
If anyone knows, he would know

the US can not invade many more countries in an attempt to keep the dollar up
the people driving this fiasco know when to bail
the peeps won't

they'll just be wondereing what the flip just happened

I don't believe that the dollar will crash and burn in the same way as German currency after WWI, but I do believe that if we stay on our current path, the dollar will eventually be replaced by a unified currency or a currency basket.

History shows us that we cannot simply print money without debasing the currency in question. However, there are a couple of important differences to the QE programs of the U.S. and past currency printing.

As stated by the OP China simply cannot afford a dollar crash. The reasons for this are multifold. As the OP stated their currency is pegged to the dollar. They could change that, but they can't change the vast quantity of dollar debt that they already hold. Even absent the questions of what would happen to their currency, if the dollar dives their savings dwindle. They need to stop accumulating/start offloading that debt slowly and quietly. This will take some time. I don't think China likes it. The U.S. screwed them. Given that the U.S. has been screwed by just about everybody else of note (sorry U.S. bashers, my country right or wrong, we may have some neocolonial tendancies but we also pay out like nobody's business and then people hate on us anyway so, whatever...)it's about time we started palying the cash game the same way everybody else does.

Who buys stuff from China? We do. If our dollar can no longer afford their exports, they will be faced with a sudden and dramatic financial shift at home. Which their large population may not like....

Additionally, other countries are engaged in similiar quantitative easing. It is no better or worse that they do this than that we do this. But, it is kind of hard to point and laugh too much if you are engaged in similar policy. Sure, they aren't world reserve currency, there is an argument that the U.S. should be held to a higher standard becasue of its reserve currency status, but we aren't going to play that way this time. And the world will just have to swallow it.

That's right, have to swallow it. Never before has a country had this kind of economic scenario, complete with money printing, tht started while they were the premier military might. Sure, there are others poised to truly rival us but they aren't there yet. Once again we see a scenario where we have a crucial couple of years to get our stuff together.

That said. The fact that we are doing this, is exactly why the world will shift to either a world currency or a basket of currency reserves. THey will never let themselves be subject to one power this way again. Every dollar we print screams to the world that we are the strongest power on the planet and they can just suck it.
Our PTB are correct in that estimation. But, this will be long remembered. The flight from the dollar will take time but when it comes it will be irreversible.

Just my thoughts.

I know that many here do not believe in prophecies or things of that nature, but I read of a prophecy or dream where someone had stated that when mexico goes belly up, that anyone one within the usa would have two weeks to pull their money from the banks before the US goes bankrupt and locks down the banks.



just sayin

Also, as a side note which may belong here or in thread of its own: there was a very strong push for a currency basket to replace the dollar. That basket was to be largely weighted by a unified Arab currency and the Japanese Yen. This was, of course, before the uprisings in the Arab states and the 3fold disaster in Japan.
Make of it what you will!