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Originally posted by thelongjourney
So I want to know to all those in here furiously proclaiming utter financial catastrophe from this: how long do we have to wait until you apologize for being wrong? I know people on ATS want economic doom, in fact most people here actually get off to the idea, but the same people have been predicting the US dollar would collapse for 6+ years now. So can I bump this thread in 6 months when there is no hysterical financial disaster, no food lines, no dollar collapsing? Will all you fear mongers apologize and admit you were wrong when nothing happens 6 months from now?
Dont bother answering. 6 months from now all the people furiously masturbating to doom in this thread will have picked up some other minor news story and trumpet it as the herald of the end for the economy, and ignore the fact that they've been 100% wrong for years.
What are you talking about?
So, according to you this is another one of those events that is going to completely and irreversibly topple the U.S. economy, correct? LOOOOLLL!!!...
Ok, lets get one thing straight, we are on FIAT CURRENCY, we are no longer in the gold bug era, got it? The world economy (as I'm sure you've heard) is an interconnected web, possibly the most critical node of this web; the US economy.
The short and straight; the US goes down, EVERYTHING GOES DOWN.
Every single damn country, every damn dollar, yen, shilling, is vested in the US economic performance. There is almost nobody, save the poor, the destitute, and the morbidly curious, who is interested in pulling the whole thing apart by the seems. Its another M.A.D. type concept only on a global scale and more circle jerk than Mexican standoff.
What Germany is doing now is largely a public relations campaign, fueled by public anxiety over the Euro bail outs... I dont think there's much more to see here...
The largest foreign holder of U.S. debt is China, which owns more about $1.2 trillion in bills, notes and bonds, according to the Treasury. In total, China owns about 8 percent of publicly held U.S. debt.
Originally posted by SkepticOverlord
reply to post by sonia274
Feels like hoax to me.
The original coverage from the AP indicated the total of the gold being moved from the US AND France is $36 billion, not the $200 billion from US claimed in the opening post.
Also, FXstreet shows the dollar on a bit of a rise over the past three days.
Smells like hoax from a fringe site that benefits from gold hysteria.
Originally posted by FirstCasualty
Originally posted by thelongjourney
So I want to know to all those in here furiously proclaiming utter financial catastrophe from this: how long do we have to wait until you apologize for being wrong? I know people on ATS want economic doom, in fact most people here actually get off to the idea, but the same people have been predicting the US dollar would collapse for 6+ years now. So can I bump this thread in 6 months when there is no hysterical financial disaster, no food lines, no dollar collapsing? Will all you fear mongers apologize and admit you were wrong when nothing happens 6 months from now?
Dont bother answering. 6 months from now all the people furiously masturbating to doom in this thread will have picked up some other minor news story and trumpet it as the herald of the end for the economy, and ignore the fact that they've been 100% wrong for years.
You cant blame Folks fo expecting this. Mathematic says it should have happened by now. The US isnt staying afloat because of successful economics or high production. They are raising debt limits, storming the globe with troops and sta ki.g lies over lies.
That sort of behavior has proven to fail and chronologically they are in late stage.
Originally posted by hawkiye
You simply do not have a clue how the monetary system works. You won't be laughing soon. Here is a hint; think Zimbabwe, and one more hint:
Originally posted by thelongjourney
Originally posted by hawkiye
You simply do not have a clue how the monetary system works. You won't be laughing soon. Here is a hint; think Zimbabwe, and one more hint:
And this is why threads like this are so funny. Prophets of doom and fear predicting economic collapse who are citing points of fact that they clearly dont understand at a fundamental level.
What is so hilarious about your comment is that we would be the next Zimbabwe if conspiracy theorists had their way and we "ended the fed" and let Congress control monetary policy. That is exactly how Zimbabwe ended up going into a inflationary spiral - their central bank stopped being autonomous and decisions for monetary policy were placed in the hands of elected leaders. And since elected leaders always want to get re-elected, they made monetary policy decisions for short term gain and long term disaster.
The situation in the US is completely different, in spite of conspiracy theorists. The federal reserve us autonomous and elected leaders have oversight authority but cant actually make monetary policy. The fact that you compare the two is laughable.
Whats really laughable is people like you thinking the Federal reserve is going to save us from collapse when they have led us to the very brink and have the dollar on life support right now with QE infinity.