Let's look at the two sides of this issue 1. America could continue to run account deficits to God knows where? they say in 2006 it will run to 18.28 trillion dollars. and america could use strong arm tactics to keep the dollar afloat until........ or it will be a shocker when the american ppl wake up one morning to see their dollar worthless? the ppl who on this thread doubts the possibility of the collapse of the u.s dollar are doing so because of their patrotism to the dollar and are in ignorance and denying the truth. it's going to happen, sooner or later, and what chaos it will be? Oil= $50.00 a barrel note well.

Originally posted by astroblade
sorry pal, but america is not about to go bankrupt, no matter how much you want it to. any debt we have is to ourself, as in we've used money from program X to fund something else so now program X has less money. even if we were about to go bankrupt we have several ways of preventing it. the amout of unneccessary money we spend (i.e. foreign aid to other countries, wastfeul spending on ridiculous and perhaps even legitimate research) is so much that all we'd have to do is cut back on the spending to essentially fix any monetary problems. we could also always call in our tabs from other countries...gasp oh no!.

We owe 6.4 trillion dollars to foriegn nations. The interest alone is somewhere near 340 billion dollars yearly. That means we spend over a billion dollars a day to prevent forclosure.

All talk of NWOs and Illuminati aside, your dollar is already worthless. it became so as soon as Nixon took us off the gold standard, now that one dollar in your pocket is only backed by the reputation of the US government. Maybe you don't need to hoarde gold, but investing in it is a sound idea, since the price of gold fluxuates contrary to the USD. Dollar goes down, gold goes up But that's just diversification of your investment portfolio.
Why does anyone accept our money? Becuase the US, like most countries, is on what I like to call "the oil standard" and we just happen to own more oil than anyone else. To back that up we have the "strategic oil reserve" and Seward's (oil rich) Folley: Alaska
Countries are not about to drop the USD for the Euro because IMHO the Euro was a horrible mistake, nay, the whole EU was a mistake. The overall value of the Brittish pound in the world market used to be dependant upon England's economy. But now the value of the Euro is dependant upon the economies of the member nations of the EU. that could end up like Mexico adopting the USD (not like they haven't already )
So really we could be pumping out trillions of dollars of debt but ultimatly it doesn'tmean anything at all. So China is gonna call up one day and say ""Hey US, we want our money back or we're gonna blow your ass up" if they blow us up then the dollar is worthless. We're not paying them back. If a country allows us to be in debt to them it's their fiscal illiteracy. Most of those debts are probably paid off with stock options, oil, military actions or equipment, etc. Remember, money doesn't have to be a liquid asset. If the US is "on the verge" of bankruptcy we wouldn't be in the dark about it, well, we would be in the dark, we wouldn't have any electricity, we'd also be starving, I'd like to reference Russia in regards to this.

There are many americans especially on this thread,who are in the state of unbelieving that their economy will not always go bankrupt. that htere will always be boom times. that u can borrow yourselves into prosperity and never have to pay back. that u could run trade deficits to the trillions.. to all the americans , sad to say your economy is bankrupt. you are spiritually bankrupt and morally bankrupt. Don't let your government tell u otherwise.

It doesn't matter if you have the dollar. It doesn't matter who you owe debt to. If you are no longer able to pay your bills when they come due you go bankrupt. When you are financing hundreds of billions of dollars on a war you better have a play to repay it or you will go bankrupt. Its not a question of IF but rather WHEN. Its pretty basic economics.

That's exactly it. these are the facts. no country can sustain debts, forever of such a high magnitude. 7 trillion dollars how can u ever pay that? Current account deficit? 500 billionplus?(don't the real figure) but whatever it is it's damn HIGH! and what about all those tax cuts, u think that is stimulating the economy ? hell no! how that will? when the government is taking in less tax revenue how it's going to pay its workers, manage the infrastructure and so on? and yet service it's mountain of debt? I know !we will invade other countries, make a grab for their resources! that;s how or? have any thinking american, there are hardly any these days! (lol!) wonder with all these job losses. these days how are they going to get all these jobs back? maybe Geroge has an idea, in the name of security we can employ approximately 4 million americans as citizens spies, another millions more as airport screeners worldwide, intresting.