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How soon till the collapse of the dollar?
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Author:  Elmarnieh [ Wed Oct 07, 2009 4:04 pm ]
Post subject:  How soon till the collapse of the dollar?
Just asking your thoughts.

Mine is that the collapse has already started but won't be seen publically for a few months. The key turning point will be when OPEC finally announces the dollar is not pegged to oil or the IMF changes their reserve currency. This will get public attention and the results could not be hidden.
Author:  Hannibal [ Wed Oct 07, 2009 4:13 pm ]
Post subject: 
Hopefully soon. This country needs an amputation, not more low level antibiotics that are only masking the symptoms.

Until people are tossed into a "sink or swim" situation, they are going to keep taking the easy and destructive road.
Author:  Elmarnieh [ Wed Oct 07, 2009 4:17 pm ]
Post subject: 
Well the "solution" proposed will be a one world or a conglemerate currency.
Author:  Rynar [ Wed Oct 07, 2009 4:55 pm ]
Post subject:  Re:
Elmarnieh wrote:
Well the "solution" proposed will be a one world or a conglemerate currency.


Actually, and ironically, a global currency is the correct solution. However, a free banking currency like gold, or something else of hard value. Not a regulated currency, as will be proposed.
Author:  Khross [ Wed Oct 07, 2009 5:14 pm ]
Post subject:  Re: How soon till the collapse of the dollar?
Rynar:

That's not true at all. There only viable commodity to use as a global currency is untenable in your belief set. Gold is insufficient, because history shows it can be manipulated and regulated without concrete government interference or collusion. Consequently, the only thing that has hard commodity value in the contemporary world opens up a whole slew of ethical concerns.
Author:  Rynar [ Wed Oct 07, 2009 5:18 pm ]
Post subject:  Re: How soon till the collapse of the dollar?
You are correct, and I should have been more clear. Technically, all hard commodities should be in competition as currency, in a perpetually ongoing manner. When I said one currency, I should have said "backed means of exchange".
Author:  Micheal [ Wed Oct 07, 2009 8:07 pm ]
Post subject: 
The United States Dollar? Collapse?

I don't think it is going to happen for at least twenty years. Probably not even then. It may be devalued 10 or 20 per cent, but a total collapse? No, and the reason why is that the rest of the world can't afford for the USD to fail. Even when it is evident it has lost its bang, the countries that rely on the United States to be their consumers will pretend it hasn't.

The only thing keeping it up since Nixon destroyed the Bretton Woods System and took the dollar of the gold standard has been the faith of the rest of the world.

If the dollar collapses, a lot of the other currencies in the world will follow suit within weeks. The Great Depression will be a fond memory within a couple years.
Author:  Elmarnieh [ Wed Oct 07, 2009 8:55 pm ]
Post subject: 
That faith is failing Michael and China is reconsidering its losses of a few trillion when weighing the future loss of a few tens of trillions.
Author:  Vindicarre [ Wed Oct 07, 2009 8:59 pm ]
Post subject: 
Micheal:
I'd say de Gaulle destroyed the system set up under the Bretton Woods Agreement. Nixon just removed the fixed price for an ounce of gold.

As to the OP, I've got no real insight as to the collapse of the USD, but "The demise of the dollar" has caused quite a stir.
Author:  Arathain Kelvar [ Wed Oct 07, 2009 9:25 pm ]
Post subject: 
I think the dollar will collapse when *YAWN*
Author:  Rafael [ Wed Oct 07, 2009 9:30 pm ]
Post subject: 
The US Dollar index has lost 13 percent of its value since March.

As for the sentiments about other currencies being precipitously dependent on the dollar, that idea is predicated on the fallacy that the American consumer is necessary to perpetuate the world economy.

This is false. The American consumer cannot play this role, anymore than a druggie going from loan shark to loan shark to secure financing to pay off his debt is a value to his borrowers as a debtor.

Curiously, China has no real way out of this unless the American economy miraculously becomes productive again, and not a consumer, financed based service economy measured by poor indicators like the GDP. If China begins sell off its US assets (the bulk of which is Chinese government owned US Treasury Securities, though I'm sure there is tiny fractional ownership of private US equities and bonds by both the Chinese Government and private Chinese parties) then it crushes the US Dollar before it can get any value from the securities. If it says in, it just digs the hole deeper and wider.
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