Posted on 06/29/2011 2:54:40 PM PDT by Kartographer
The dollar collapse will be the single largest event in human history. This will be the first event that will touch every single living person in the world. All human activity is controlled by money. Our wealth,our work,our food,our government,even our relationships are affected by money.
No money in human history has had as much reach in both breadth and depth as the dollar. It is the de facto world currency. All other currency collapses will pale in comparison to this big one. All other currency crises have been regional and there were other currencies for people to grasp on to.
This collapse will be global and it will bring down not only the dollar but all other fiat currencies,as they are fundamentally no different. The collapse of currencies will lead to the collapse of ALL paper assets. The repercussions to this will have incredible results worldwide.
(Excerpt) Read more at youtube.com ...
>> “Whereas, I went on exotic vacations, spent my money on booze and broads, never saved one nickel for the future when it could be spent immediately.” <<
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Why are we not surprised, Grasshopper?
No I don't. But we are not (yet) Greece.
If the dollar stays the reserve currency of the world we have a huge advantage NOT to become a Greece
We still will have huge problems with inflation and budget cuts, but we will not be Greece
If Congress does the right things (which is hardly a good bet) we can get out of this mess in fairly decent shape in 10 years as compared to the rest of the world
It will still be painful and difficult especially for the parasites sucking off the taxpayers
“A currency can only collapse relative to another currency.
Which currency or currencies will the dollar collapse against?
If you can answer that, we can both get rich. “
An excellent point. When the world realized that banks all around the globe had been impacted the flight to safety(US Treasuries) ensued.
When the British Sterling lost it’s position as the world’s reserve currency, the US dollar was in a position to assume that role.
Which country is making the changes needed to stimulate economic recovery? Which country has purchased and stockpiled the most gold, precious metals, and natural resources? Which country makes sure that allowing foreign goods in their country has a positive impact on their capability and economy? Which country has the least debt? Which country holds the debt for other nations?
Those are the countries that might step up. Right now the US dollar stinks, except when compared to all other currencies. I would never count the American economy out, if we can get a Congress and President who are serious about making us strong again, but that is one big IF.
I would say that if Palin is elected, and makes Ron Paul her treasury sec, we could come out of it with bruises, but still functioning.
This, of course, requires that the snap doesn’t come before Jan 20, 2013.
Otherwise, we have to look at China’s actions this week, and recognize their hostility toward us, and prepare for war.
I gave up on Congress a LONG, LONG time ago. Even a GOP Congress is pretty useless since it filled with RINO's
I have almost no hope Congress will do the complete right thing........they will probably get it half ass right...like almost everything they do
I am working into getting in deep prepared mode, just hoping for the best case scenario which still is pretty ugly
>> “A currency can only collapse relative to another currency.
Which currency or currencies will the dollar collapse against? <<
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It would be a new “hard” currency from one or more commodity rich nations.
Fiat cannot survive.
The Indian Rupee.
I would bet really good money the "snap" will come right before the 2012 election, sort of like when the economy "snapped" right before 2008 election which helped propel Zero into office
I think it really depends on close Obama is to losing
Otherwise, we have to look at China’s actions this week, and recognize their hostility toward us, and prepare for war.
Let's agree to disagree. China has just as many problems as we do, in many ways even more.
China collapsing the dollar really doesn't make sense for the long term and the Chinese do one thing well is think long term
China has no long term interest yet in seeing America kneel before it. They are not prepared to lead the world and they know it. Their banking system is still primitive in many ways, why do you think they are buying dollars??? They don't have the structure in place yet to be the worlds reserve currency
Right now they need us as bad as we need them.
I wouldn't say that in 5 years
A lot of questions here.
First, since our debts are in dollars, we are very lucky. We can simply pay them off with worthless dollars...printed as necessary.
Of course that means the end of the United States being a first-world country. We will NEVER be looked at the same. Instead it will be almost barter as we try to import stuff. We offer dollars, the other countries (especially China) laugh. They want REAL stuff, like highways, federal land, crops, oil. The idea of paying for ANYTHING in dollars will be over.
That’s why I tell EVERYONE to STOCK UP NOW, while the IDIOTS around the world still think that we’ll protect the dollar. We can buy HUGE quantities of REAL items, like Rice or Plasmas, at very low prices...NOW!!!
We do not know when...but soon it will all be over, and what you have in your basement (or attic) will DEFINE how you live for the next decade.
After that, it depends on whether Americans (or Chinese, depends on who’s running this place) figure out where the PROBLEM is...(i.e., liberals). If not - game over.
That is assuming they have any say in the matter. When the jack booted government thugs point guns at you and say they are taking your produce and giving you government script in exchange, things are different.
In a severe situation, that scenario is probable, not simply possible. A full fledged collapse will put most of us in a war like environment.
So, some of us are well armed. Fine. But be realistic about it. We won't be able to stop them. The best one may hope for is that you take a good number of them with you when you go.
“I am working into getting in deep prepared mode”
I hope many are doing the same thing. If you haven’t already it’s time to prepare. You needed to be stocking up on food guns, ammo, basic household supplies like soap, papergoods, cleaning supplies, good sturdy clothes including extra socks, underwear and extra shoes and boots, a extra couple changes of oil and filters for your car, tools, things you buy everyday start buying two and put one up.
If you are just starting or an old hand at prepping I like to recomend that you look over my Preparedness Manual which you can down load at:
http://www.tomeaker.com/kart/preparedness1i.pdf
I think that we are at the very least in for a collapse much like that of Argentina’s ( http://www.youtube.com/watch?v=7yerKMQc7-w&feature=grec_index), but as a armed society with a very large entitlement minded population our collapse will be much more violent and I see many many small business wiped out by flash mob looting, and large scale violence (look at what happened just this past Memorial Day weekend)and then there is this is going on in Chicago:”Emanuel said he spoke with McCarthy over the weekend and again this morning about the situation. The mayor said the city’s reputation as a safe place to work and shop downtown is being endangered by the thuggery. Many of the attacks are happening near the biggest tourist and shopping attractions in the city.
But, CBS 2’s Jim Williams reports, the problem of mob attacks downtown is much bigger than the weekend beatings, according to beat cops who wanted to remain anonymous.”
And it’s not just Chicago, but Washington DC, Las Vegas, St Paul, Philadelphia and on most major big ‘Blue’ cities are increasingly reporting such flash mobs and gang muggings. Look what happened just this past weekend in Peoria, Il:
http://peoriachronicle.com/2011/06/25/peorians-living-in-fear/
Teenage Flash Mob Robberies on the Rise:
http://www.foxnews.com/us/2011/06/18/top-five-most-brazen-flash-mob-robberies/
Rash of violence isn’t flash mobs, it’s wilding
http://www.suntimes.com/news/roeper/5826624-417/rash-of-violence-isnt-flash-mobs-its-wilding.html
Teens in a mob assault and rob Center City patrons
http://www.philly.com/philly/news/20110629_Teens_in_a_mob_assault_and_rob_Center_City_patrons.html
I see what I call ‘Pocket Pogroms’ taking place in many big ‘Blue’ cities and if you aren’t a “0bamamite yutes” it’s going to get Reginald Denny bad for you very quickly.
As the LDS say “When the emergency is upon us the time for preparedness has past.”
Or as the bible says: A prudent man sees danger and takes refuge, but the simple keep going and suffer for it.
NIV Proverbs 22:3
And a little something for those who do not believe:
“Chance favors the prepared mind.”-Louis Pasteur
What you appear to be missing is that the world already has a ‘new’ reserve currency, and the new currency is the old currency: Intrinsic value.
Gold is the most obvious in this, but far from the only element. Intrinsic value can no longer be hidden, nor manipulated by the global elite, because the resources are in fragmented hands that see no value in cooperating.
What will do when uncle Obama confiscates it like his mentor Roosevelt
I’m marathon-watching that and I’m up to part 9 now.
In Argentina they closed the banks and then devalued the currency. One day people had $1,000 in the bank, they next they had $300.
Prices of course didn’t decrease by a similar amount.
My student loan debts are gone correct?
And my mortgage if my house is not really mine anymore unless I can protect it?
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