Dollar Will be "Utterly Destroyed": Strategist

I plan to do some more research about this "strategist" and the Nine Points Capital Partners firm after listening to his comments.

Be sure to listen to the 3-minute embedded video for his full comments on the US dollar, new world order, and coming global government.

The dollar will get "utterly destroyed" and become "virtually worthless", said Damon Vickers, chief investment officer of Nine Points Capital Partners.

"If the global currency crisis unfolds, then inevitably you get an alignment of a global world government. A new global currency and a new world order, so we may be moving towards that," he said.
www.cnbc.com...

Originally posted by MOFreemason
I plan to do some more research about this "strategist" and the Nine Points Capital Partners firm after listening to his comments.

Be sure to listen to the 3-minute embedded video for his full comments on the US dollar, new world order, and coming global government.

The dollar will get "utterly destroyed" and become "virtually worthless", said Damon Vickers, chief investment officer of Nine Points Capital Partners.

"If the global currency crisis unfolds, then inevitably you get an alignment of a global world government. A new global currency and a new world order, so we may be moving towards that," he said.
www.cnbc.com...

Woah, MSM?
Props

Strategist will be utterly destroyed. -Dollar

How little faith some have in the strength of the United States. Does he think for a minute that our leaders are idiots? We have the greatest economic minds in history working on the problem, with the most fantastic computers ever built.

Get real.

Originally posted by Jim Scott

How little faith some have in the strength of the United States. Does he think for a minute that our leaders are idiots? We have the greatest economic minds in history working on the problem, with the most fantastic computers ever built.

Get real.

What fantasy world are you living in? The greatest economic minds in history? Who the hell are you talking about?

Are you referring to Timothy Geitner and Larry Summers who were instrumental in facilitating the elimination of the Glass-Stegal Act and promoting unlimited derivative speculation by the big banks on Wall Street?--the very thing that brought the system down?

Or perhaps you are referring to good ole Ben Bernake, who has overseen the largest inflation of credit and monetary supply in the history of the nation--by many orders of magnitude?

These "greatest minds in history" are the ridicule and scorn of the rest of the world, who know full well that the United States is trying to inflate its way out of insurmountable debt by debasing its currency--and they are fed up with it. That is why the rest of the world is determined to dump the dollar as the international reserve currecy--because they simply dont trust or have confidence in these "greatest minds in history".

I suggest that you "get real" and wake up to the fact that the dollar is going down, and going down hard. Its not a question of if, its only a question of when. And it is going to be sooner rather than later.

reply to post by Jim Scott


Here, take these smelling salts..

reply to post by Jim Scott


Lol, a treasury secretary who couldn't figure out Turbo Tax is supposed to save us? Hahaha....

Or a Federal Reserve Cartel Chairman who, back in 08, said we would be fine and there would be no recession.

You get real.



[edit on 11/7/2009 by DiabolusFireDragon]

reply to post by Jim Scott

"Does he think for a minute that our leaders are idiots?"

Anyone with any sense at all KNOWS our leaders on both sides of the aisle are IDIOTS. Were they not we would not be in this situation.

What is more stupid are the voters who continue election after election to return the same greedy, lying, cheating, stealing, arrogant a**h**es to office.

I have been saying this for years...depression is where we are heading...
The Us could avoid sinking to deep by doing a few things but I cant see them doing them...ego, pride will get in the way and the course of action wouldn't be vote winners....

Originally posted by Jim Scott
How little faith some have in the strength of the United States. Does he think for a minute that our leaders are idiots? We have the greatest economic minds in history working on the problem, with the most fantastic computers ever built.

What makes you think your leaders don't want the dollar to crash? Have you any idea how much power they would gain if it did?

reply to post by MOFreemason


Wow, on CNBC .. really? .. Obama's economic cheerleader channel?

Weeiiirdd..

I don't really see the whole one world government thing being possible.. but then again, if the English have been able to rule over the Scotts for so long I guess the trick is to make it look like they are not being dominated, when in fact they are.. so eventually America may wake up one morning already under a one world government and we will be left wondering "how did that happen??"

Or rather when?

reply to post by DiabolusFireDragon


It's not that he couldn't figure out Turbotax ... it's that he didn't want to figure out Turbotax.. Common, who hasn't cheated and then said "well I didn't understand the software!"

reply to post by Jim Scott


Chaos is the best method to create control: What ever the Feds want, need, or desire.. they will get through chaos.. so unless the Government is incredibly ignorant regarding our financial health (which I seriously doubt) or the Government knows what has/is/will happen and either conceded to allow it, aided it, or could not prevent it.. though of course, either answer could be used as an opportune moment to implement draconian laws that have absolutely no relation to economics...... like Health Care? Which they are trying to rush through like it's an emergency.. Governments thrive on ignorant individuals..

Originally posted by MOFreemason

The dollar will get "utterly destroyed" ... said Damon Vickers, chief investment officer of Nine Points Capital Partners.

"If the global currency crisis unfolds, then inevitably you get an alignment of a global world government. A new global currency and a new world order, so we may be moving towards that," he said.
www.cnbc.com...

This will be inevitable in the long run....
when does the USD totally collapse?

when Ben Bernanke closes the window to the banks, which have up to now been collecting a riskless interest rate of ~3% by way of borrowing money @ 0% then buying USTreasuries @ a positive interest rate.

When the bank's 'free-lunch' program gets closed down, Bernanke will tell the banks/primary lenders to flood the markets with the Trillion$ of monetization & printing-press monies createde by the FEDeral Reserve...

result: hyper inflation for all us homeland peons, as the rest of the world had already reduced their reserves & dependency on the USD

We are destined to find ourselves as a third world economy...
and the massive land & property holdings (real estate) by the FED, GS, et al... will generally replace the losses of dollar value by those entities --

while the masses claw for a subsistance level lifestyle

Originally posted by Jim Scott
How little faith some have in the strength of the United States. Does he think for a minute that our leaders are idiots? We have the greatest economic minds in history working on the problem, with the most fantastic computers ever built.

The United States will be fine, quite a bit less wealthy alright but once the dollar is faded to a second class reserve, it will be worth an awful lot less and will be "Utterly Destroyed" in relation to what it was in the 70's, 80's or even 5 years ago. The USD is about more than the United States.. its about the US empire. Bye bye USD = Bye bye US Empire. Can you not see this happening at the moment?

Greatest economic minds in history? Are you sure they are on your side? Most of the big boys in the world these days are working towards a global governance system for finance, trade, emissions and law.. and the dollar is very much in the way at the moment.. Those minds are working for the man after all.. And its also pretty obvious that the world is relatively quickly dropping the USD so these minds are going to have to work around that.

Yes the USD will not completely collapse.. it is a ridiculous idea - worst case scenario, it will fade out over a generation.. but it is on the way to being completely destroyed, the writing is on the wall. But for the average American, it will not mean that much. The US economy is resilient and will get back to 'normal' albeit substantially poorer until BRIC gets wealthier.

Originally posted by Rockpuck
Governments thrive on ignorant individuals..

Truer words were never spoken.

reply to post by Jim Scott


That's what I heard from long time ago. But you know this misleading belief has been the major reason that supported dollar. But now the whole world knows how weak the fundamental is and that's totally different game. This kind of false belief gave many corporate giants and empires in the past vanish. Actually, average americans are way too ignorant on the outside world. It would be more realistic to study on other parts of the world insread worrying about NWO or world currency. You should get prepared maybe within 10 years. In reality, dollar has been a one world currency and in terms of other country's perspective, distroying dollar is to stop one world government dominated by dollar. Of course, it's absolutely not for the interest of US. It's the price you get from over using the power you got.

[edit on 7-11-2009 by mirine]

Originally posted by Angiras
Are you referring to Timothy Geitner and Larry Summers who were instrumental in facilitating the elimination of the Glass-Stegal Act and promoting unlimited derivative speculation by the big banks on Wall Street?--the very thing that brought the system down?

Glass-Steagall was repealed by a bill from two republican senators, Phill Gramm and Jim Leach. And it was Hank Paulson who lobbied for eliminating bank's capital requirements and leverage limits, hence the unlimited derivative speculation.

reply to post by Rockpuck

I don't really see the whole one world government thing being possible.. but then again, if the English have been able to rule over the Scotts for so long I guess the trick is to make it look like they are not being dominated, when in fact they are.. so eventually America may wake up one morning already under a one world government and we will be left wondering "how did that happen??"

Or rather when?

How about it has already happen but they haven't bothered to tell us yet.

Remember the Lisbon Treaty that just got signed, well the USA has already signed up too.

“In a sweeping move that has garnered surprisingly little attention this week the United States and the European Union have signed up to a new transatlantic economic partnership that will see regulatory standards “harmonized” and will lay the basis for a merging of the US and EU into one single market, a huge step on the path to a new globalized world order.” The BBC reported (news.bbc.co.uk...) from the Summit in Washington on Monday: stopspp.com...

Here is confirmation that the EU and WTO/UN are now writing our laws direct from an FDA WEBSITE

International Harmonization


The harmonization of laws, regulations and standards between and among trading partners requires intense, complex, time-consuming negotiations by CFSAN officials. Harmonization must simultaneously facilitate international trade and promote mutual understanding, while protecting national interests and establish a basis to resolve food issues on sound scientific evidence in an objective atmosphere. ithin the freetrade agreements and the World Trade Organization Agreements can result in considerable economic repercussions.

The International Conference on Harmonisation was formed for the purpose implied in its name and is sponsored by one major government body and one industry association from each of the three regions represented. These six organizations are the European Commission; European Federation of Pharmaceutical Industries Associations; Japanese Ministry of Health, Labour and Wel- fare; Japanese Pharmaceutical Manufacturers Association; FDA (CDER and CBER); and the Pharmaceutical Research and Manufacturers of America. In addition to these sponsors, the ICH Steering Committee includes the International Federation of Pharmaceutical Manufacturers Associations (IFPMA) and observers from the World Health Organization, Health Canada’s Health Products and Food Branch and the European Free Trade Area.44 ICH has been successful in producing a considerable number of harmonized guidances for the documenta- tion of drug safety, efficacy and quality (i.e., CMCs) for submission in registration applications. These are available on the CDER guidance page of the FDA web- site at www.fda.gov/cder/guidance/index.htm and the ICH website at www.ich.org. www.tianodesign.com...

What the Politicians and Bureaucrats failed to tell us is the following:

During the debate on approving the WTO Agreement, Congress was justifiably worried (because constituents were screaming) that the multinational pact was in conflict with U.S. Sovereignty. Arguments for ratification were vehemently endorsed by Clinton Administration officials who were eager to get the agreement passed Congress. Congressional fears were lulled by pointing out Congress is ultimately responsible for changing the laws of the United States; and second, the U.S. is entitled to withdraw from the WTO. Also a feature of the Uruguay Round agreements are described as follows:

United States Law to Prevail in Conflict The URAA puts U.S. sovereignty and U.S. law under perfect protection. According to the Act, if there is a conflict between U.S. and any of the Uruguay Round agreements, U.S. law will take precedence regardless when U.S. law is enacted. § 3512 (a) states: "No provision of any of the Uruguay Round Agreements, nor the application of any such provision to any person or circumstance, that is inconsistent with any law of the United States shall have effect." Specifically, implementing the WTO agreements shall not be construed to "amend or modify any law of the United States, including any law relating to (i) the protection of human, animal, or plant life or health, (ii) the protection of the environment, or (iii) worker safety", or to "limit any authority conferred under any law of the United States, including section 301 of the Trade Act of 1974." www.eastlaw.net...

Unfortunately now that the treaties are ratified the politicians have changed their tune and sing along with the globalists:
"The following qualifies as one of the greatest lies the globalists continue to push upon the American people.
That lie is: "Treaties supersede the U.S. Constitution".
The Second follow-up lie is this one: "A treaty, once passed, cannot be set aside" www.sweetliberty.org...



I really hate two faced lying politicians. You can tell we are close to world government because they do not even bother to hide the fact they are no longer answerable to the American people. The next step is National Bankrupcy and the IMF/World Bank will loan the USA our tax payer derived money and hit us with the he!! called a Structural Adjustment Program see also Mr. Budhoo's Bombshell

If the global currency crisis unfolds

IF...

He's not saying WILL.

If there is no global currency crisis, the dollar probably won't be destroyed. Of course, if the dollar was destroyed there would be a global currency crisis... So he's pretty much right no matter what happens.

The dollar was utterly destroyed the minute it was taken off of the gold standard and turned into fiat money. There is no nation in the history of the world that has been able to survive the devastation of fiat money. It has been a long strange trip since 1972 when the gold standard was rejected in favor of a fiat currency but that was when the dollar was destroyed and what we are experiencing today is the final death throes of that fiat system.

Those on both sides of the aisles are not idiots it is We the People who have been idiots for surely the people get the government they deserve and our willful ignorance and willingness to suffer the long train of abuses and usurpation's of this government is an indictment on us all because we are a government of the people, for the people and by the people and we have stupidly abdicated our original political power and recklessly tossed away a republic in favor of a democracy that would allow us to vote ourselves money. Once we began doing that it was only a matter of time before the banks decided to undermine that money we so recklessly voted ourselves in order to profit off of our stupidity. They are idiots? We are all idiots in the same damn boat! Helplessly trapped in this situation until we decide to not be helpless any longer.

reply to post by Jean Paul Zodeaux


Yes but there wasn't enough Gold in the world to cover the backing of the dollar, especially with the demand as a result of the population explosion. It was definitely the beginning of the end though but they could have kept tighter control over the issuing of it.

reply to post by Dermo


The argument that there was not enough gold to back the population explosion misunderstands the value of currency backed by gold. When there is not enough gold then the value of the dollar increases not decreases. It is only when there is an increase in gold mining that the value of the dollar will decrease. It is not as if a society must print out currency notes based on the amount of people that live in that society. If a dollar is backed by gold then there is only enough dollars printed to match the gold supply that backs it. This certainly means that there are fewer dollars in circulation but this is what happens in a free market; because there are fewer dollars in circulation the prices of goods and services must necessarily come down but when there is an over printing of dollars that exceed the amount of gold in stock to back it then the dollar becomes devalued and inflation happens. Inflation is what causes prices of goods and services to rise.

A currency is not subject to population but rather the population is subject to currency. What that means is that when the dollar is backed by wealth such as gold then as gold prices rise so does the strength of the dollar and the people who live by that dollar will flourish and prosper regardless of how many people are in that society. Sure there are some who will do better than others and there will always be an elite few who do much better than most and a middle class that does better than the poor and as Jesus once said; "the poor you have with you always", but the poor stand to do better in a society where prices are ridiculously low not ridiculously high. Indeed, it is only the elite few that stand to gain by skyrocketing inflation as such an economy will only work to eliminate the middle class and create a greater chasm between rich and poor.

Fiat money is and has always been a disaster and just won't work. A currency must be backed by wealth if people are expected to take it seriously.