Unless the dollar is abandoned in favor of a "world currency".
Posted on 10/15/2009 6:42:39 AM PDT by opentalk
It's not national security. It's not Charlie Rangel. It's ... the currency.
Try as hard as you can, but you're likely to fail unless you get a principal in front of a camera -- and even then -- no one wants to talk about the dollar or its future. That's because no group of citizens of the earth are more twitchy than currency traders -- and how many dominoes can be knocked over by a single twitch is kind of scary. Banks of Central Asia, of China, of Russia, and of Europe can move billions on a sentence from the Treasury Secretary. (Even when Larry Summers was President of Harvard, an errant comment about the yen caused the Japanese currency to decline by four percent overnight.) The brutal reality is that by printing so much money to save the economy and unlock the credit markets (their reasons), the government has already intervened to weaken the dollar. And there is no other place for China to park its extra cash. Maybe there will be in ten years -- but there's not, now -- and so the U.S. is content to let the hyper-efficient currency markets do what they will.
(Excerpt) Read more at politics.theatlantic.com ...
bttt .... the inflation-adjusted top /sarc
“The brutal reality is that by printing so much money to save the economy and unlock the credit markets (their reasons), the government has already intervened to weaken the dollar.”...
Oh just wait til they decide another stimulus/bailout is needed....we’ll be printing dollars 24/7. What was that about never letting a crisis go to waste?
Yeah, nobody wants to talk about the currency, yet these fools in Washington keep spending like a college kid in a whore house. Don’t they think these other countries are watching these policy issues for their cues?
Everyone check your mortgage docs.
If it says “US dollars OR EQUIVALENT”,
contact your lender to get it changed.
I don’t know if they’ll do it,
but you should TRY to get it changed to
“US DOLLARS” only.
Don't vote for the Donkey Party! The solution is quick and cheap.
The real “elephant in the room” is whether the USA has become either so disorganized or fraudulent...that it cannot even select and elect a qualified president. The basic integrity of governmental function is essential to an overseas perception of currency integrity. Obama has done nothing in terms of his provenance to assure Americans, much less the world, of his qualification for office..and his conduct of the office so far has defined amateur hour-not especially reassuring to our creditors.
I was wondering about that - if inflation goes through the roof - what would happen to existing mortgages? If it says “U.S. Dollar OR equivalent” then the U.S. dollar would still be repayment instrument the mortgage company would still have to accept, correct?
I was wondering about that - if inflation goes through the roof - what would happen to existing mortgages? If it says “U.S. Dollar OR equivalent” then the U.S. dollar would still be repayment instrument the mortgage company would still have to accept, correct?
Unless the dollar is abandoned in favor of a "world currency".
"Interesting thing to note" Ping.
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