Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: RipSawyer

I don’t know if the dollar is collapsing.

I disagree with your examples proving the dollars is collapsing.

I gave examples of many items that were once expensive now cheap. I gave examples of percentages showing the prices are relatively the same, if not cheaper.

I will give you one more example. My ancestors were once very wealthy. I have a tablet that lists an inheritance (circa 1850s) totaling approximately $50K. They were the one of the richest families in the north east. Everything including gold, property, paintings, rare collections, even the servants’ candle sticks came out to a whopping 50K.

If the value of something proves the collapse of something then the dollar collapsed long ago, if I understand you point correctly.


107 posted on 10/10/2009 6:55:28 PM PDT by egannacht (Vote YES for statism: Why burden yourself with civic duty when Idol and Oprah are on?)
[ Post Reply | Private Reply | To 103 | View Replies ]


To: egannacht

If the value of something proves the collapse of something then the dollar collapsed long ago, if I understand you point correctly.
////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////

That’s about it. My stepdaughter lives in a very nice, roomy, well built house built in 1961 for seventeen thousand dollars. It is currently insured for ten times that. The house is not more valuable, it has depreciated in real terms, the value of the dollar has collapsed and it is about to collapse much farther. If she is fortunate enough to still have the house in five years it may be valued at who knows what, it could be millions. We may have some actual DEFLATION for a while but I see no possibility for anything but runaway inflation in the long term. The most recent price of gold was something over one thousand and forty dollars a troy ounce. There may be some increase in the real value of gold since the days when it was pegged at thirty two dollars an ounce but it would be minimal, the rest represents the loss in value of a nominal dollar. This is not like the runup to eight hundred an ounce that occurred around thirty years ago. I don’t expect to see the price of gold collapse again. There will be ups and downs as with any precious metal but I will be very surprised if it goes back DOWN to eight hundred again. I think it is quite possible that we may see the paper dollar become as worthless as the Zimbabwe dollar. There is simply no conceivable way to pay the debt in real terms, it can only be done by making the dollar worthless.

You may think I am overstating the case and I would love to believe that myself but look at California, for so long I have heard that as California goes so goes the nation. California is flat busted, there is probably more future in Mississippi now than in California. The chinese are buying the Hummer brand! Who would have believed a few years ago that GM would fall apart and the Hummer would be sold to the Chinese?


115 posted on 10/10/2009 7:47:12 PM PDT by RipSawyer (Trying to reason with a leftist is like trying to catch sunshine in a fish net at midnight.)
[ Post Reply | Private Reply | To 107 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson