US dollar crashin
- Thread starter Weekday Warrior
- Start date
I was watching a story about that...Its pretty bad when the rest of the world is working on dropping the dollar. 3rd world here we come...
On a different note, china is going to be a hell of a force to deal with in the coming decades. They actually have more HONOR students than we have TOTAL students. Add up that brain power and it doesn't look good for us.
On a different note, china is going to be a hell of a force to deal with in the coming decades. They actually have more HONOR students than we have TOTAL students. Add up that brain power and it doesn't look good for us.
They updated the debt clock. Scary!!! Got got and bullets cause our money is going down fast.
http://usdebtclock.org/
http://usdebtclock.org/
Oh crap! 
It's so hard to feel helpless and to know that those in the White House are causing our Country's downfall because their ideology is so screwed up, misguided, naive and ignorant and they will use whatever deceit, trickery, bribery, underhandedness, dishonesty and immoral methods to get their way, to have power and control. And it's having the opposite effect.
God, morals, integrity, honesty, hard work, looking out for the best interest of others all seem to be utterly foreign to most of the people running our country. I didn't realize until recently what the Founding Fathers gave up and how they literally gave their lives to create the Country that is now so much like the one they fought and died to get away from.
It's so hard to feel helpless and to know that those in the White House are causing our Country's downfall because their ideology is so screwed up, misguided, naive and ignorant and they will use whatever deceit, trickery, bribery, underhandedness, dishonesty and immoral methods to get their way, to have power and control. And it's having the opposite effect.
God, morals, integrity, honesty, hard work, looking out for the best interest of others all seem to be utterly foreign to most of the people running our country. I didn't realize until recently what the Founding Fathers gave up and how they literally gave their lives to create the Country that is now so much like the one they fought and died to get away from.
O
Ollie
ACCOUNT CLOSED
First off, the U.S. dollar was chosen as the world's standard for one reason and one reason only.
Our dollar was directly linked to gold.
We couldn't spend more than we had in gold reserves.
Therefore our money was the most stable in the world.
That all changed under Carter when he moved us off the gold standard so we could run deficits (this was the last time the dems held all 3 houses).
The world wanting to move off the U.S. dollar is neither surprising or unexpected.
As for our slide to 3rd world country.
I think one of 2 things is going to happen in the next 5 - 10 years.
If we can stop obamacare, stop cap and strade and stop amnesty.
We may have a chance to save our country.
If those 3 things happen, we will be a 3rd world country within 20 years.
We can recover from all the liberal BS and social programs.
We can recover from the national debt (simply by using the money we currently use to pay the social programs and dumping it on the debt will wipe it out in 5 years).
What we can't recover from is a MASSIVE influx of immigrants all going on the social welfare run at the same time. If you combine obamacare, cap and trade with 200 million new immigrants in the next 10 years, our country will crash like a led balloon in a wind storm.
Our dollar was directly linked to gold.
We couldn't spend more than we had in gold reserves.
Therefore our money was the most stable in the world.
That all changed under Carter when he moved us off the gold standard so we could run deficits (this was the last time the dems held all 3 houses).
The world wanting to move off the U.S. dollar is neither surprising or unexpected.
As for our slide to 3rd world country.
I think one of 2 things is going to happen in the next 5 - 10 years.
If we can stop obamacare, stop cap and strade and stop amnesty.
We may have a chance to save our country.
If those 3 things happen, we will be a 3rd world country within 20 years.
We can recover from all the liberal BS and social programs.
We can recover from the national debt (simply by using the money we currently use to pay the social programs and dumping it on the debt will wipe it out in 5 years).
What we can't recover from is a MASSIVE influx of immigrants all going on the social welfare run at the same time. If you combine obamacare, cap and trade with 200 million new immigrants in the next 10 years, our country will crash like a led balloon in a wind storm.
W
Wolfrun
ACCOUNT CLOSED
We are very close to being a third world country. our dollar is falling like a rock and all the the dip ****s in congress and the dip **** in chief can think about is health care, cap and trade, gitmo, card check, amnesty and more ways to spend dollars by the trillions to buy more votes. Today 40 million people here pay no taxes at all and the next 50 million very little but the rich have got to pay more. We are the proverbial , going to hell in a hand basket. And quickly. I begin to think the 2010 election will be too late.
S
shortstop20
Well-known member
Carter didn't take us off the gold standard.
O
Ollie
ACCOUNT CLOSED
My bad, your right, it was Nixon.
Carter just took advantage of it.
just like every politicians since.
August 15, 1971: Nixon Takes US Dollar off Gold Standard
Edit event
President Nixon officially announces the end of the gold standard system of monetary policy for international exchange of gold deposits in an evening address to the country. Nixon’s move to sever the link between the dollar’s value and gold reserves effectively ends the Breton Woods system of monetary exchange and changes the dollar to a “floating” currency whose value is to be determined largely by market influences. Nixon’s decision results from a run on gold exchanges and rampant speculation in gold markets in Europe, and he changes the US monetary policy after receiving advice from Treasury Secretary John Connally, Under Secretary for Monetary Affairs Paul A. Volcker, and others in a special working group. The dollar becomes a fiat currency, causing a brief international panic before other countries follow suit and also allow their currencies to “float.” [New York Times, 8/16/1971, pp. 1]
S
shortstop20
Well-known member
That's not quite the same thing as the "gold standard" though, it's a little bit different system I think. The US went off the gold standard in it's original form in 1933.
Don't sweat this too much. It makes way more sense to trade crude on a combination of currency instead of just 1. It removes the volatility on the currency end.
That is not why this thread is important, oil will be traded in currencys other than us dollars.
US dollars will no longer be needed or desired, it will be a liability, if you have you'll want to dump it fast as you can in favor of a currency that will be used to trade oil. Other trades will follow suit quickly after.
The US will be buying Oil with wheat or corn, cause thats all we'll have left with value.
O
Ollie
ACCOUNT CLOSED
The US dollar is weak and going to get weaker because of the national debt load we carry.
Until the people wake up and force the politicians to STOP SPENDING, nothing will change.
We are on cource for a total economic melt down.
One of the ways we can dig outselves out is to pull a trump.
That is, get china SO dependant on us to repay the loans that they won't let us fail.
yea right, that will happen.
Until the people wake up and force the politicians to STOP SPENDING, nothing will change.
We are on cource for a total economic melt down.
One of the ways we can dig outselves out is to pull a trump.
That is, get china SO dependant on us to repay the loans that they won't let us fail.
yea right, that will happen.
China is ahead of you on that one, they have created a massive stimulus (with former US dollars) . They are selling to their own people now, build up their own infrastructre.
http://www.independent.co.uk/news/b...s-push-for-power-is-irresistible-1798672.html
And our elected government allowed it to happen, no.........encouraged it.
maybe in a hundred years from now they'll collapse from being the worlds police, from too many entitlement programs, too many liberals and advocacy groups.
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sweet, im off to vegas!
"a picture is worth a thousand words" comes to mind here
the second pic is a 5 day gold spot chart
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GOT SILVER!!!! Swampy
silver should be a great bargan right now, its below the usual ratio of what 50:1 ? or somesuch
it should go up a good ways
it should go up a good ways
