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Mark Steyn: The Disappearing Dollar. How much longer can it remain the world’s currency standard?
National Review ^ | 04/23/2011 | Mark Steyn

Posted on 04/23/2011 1:18:05 PM PDT by SeekAndFind

Edited on 04/23/2011 2:37:53 PM PDT by Jim Robinson. [history]

Congressman Paul Ryan, one of the least insane men in Washington, has a ten-year plan.

President Obama, one of the most insane spenders in Washington, has a twelve-year plan.

After hearing the president’s plan, Standard & Poor’s downgraded the U.S. sovereign-debt outlook to “negative.” Ah, the fine art of understatement. In 1940, after the fall of France and the evacuation from Dunkirk, presumably they downgraded Britain’s outlook to “spot of bother.”


(Excerpt) Read more at nationalreview.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: currency; depreciation; devaluation; usdollar
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1 posted on 04/23/2011 1:18:09 PM PDT by SeekAndFind
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To: SeekAndFind

Soros’s plan, through his puppet POTUS, is right on schedule.


2 posted on 04/23/2011 1:21:28 PM PDT by JimRed (Excising a cancer before it kills us waters the Tree of Liberty! TERM LIMITS, NOW AND FOREVER!)
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To: SeekAndFind

Your the best Mark!!


3 posted on 04/23/2011 1:22:43 PM PDT by dps.inspect (the system is rigged...)
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To: SeekAndFind

When the US dollar is on parity with the Canadians, you know you are in trouble.


4 posted on 04/23/2011 1:24:15 PM PDT by Lazlo in PA (`)
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To: SeekAndFind

Game over.

The rest of the world isn’t going to subsidize our govt any more.

Get ready for some real unrest that will make Wisconsin look like a walk in the park.


5 posted on 04/23/2011 1:29:40 PM PDT by jtal
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To: Lazlo in PA
We're NOT on parity any more, the Canadian dollar is now worth $1.05 US.
6 posted on 04/23/2011 1:31:36 PM PDT by NWFLConservative (Game On.......Fight Like a Girl!!...............Saracuda in 2012)
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To: dps.inspect

Another Keystone Kop Kaper from our fearless leader.
Mark nails it.


7 posted on 04/23/2011 1:34:40 PM PDT by willibeaux (de ole Korean War vet age 81)
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To: JLS

Same article I pinged you to earlier, but different title.


8 posted on 04/23/2011 1:36:43 PM PDT by Slings and Arrows (You can't have Ingsoc without an Emmanuel Goldstein.)
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To: SeekAndFind
Little Orphan Obammie costume

Lol!

9 posted on 04/23/2011 1:37:30 PM PDT by rawhide
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To: JimRed
Soros’s plan, through his puppet POTUS, is right on schedule.

This.

Steyn states his case well as always.
10 posted on 04/23/2011 1:37:52 PM PDT by rockvillem
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To: dps.inspect

Indeed! Why can the Left not comprehend economic REALITY??!!


11 posted on 04/23/2011 1:44:12 PM PDT by Frank_2001
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To: Lazlo in PA
Laz, I guess you have been in trouble for a while. FYI, the Canadian dollar reached par back in January. The US dollar has declined another 5% since then. Also our credit rating is better than yours (never thought I would be able to say that). And, best of all, our Prime Minister DOES NOT refer to his fellow citizens as "slugs".

You are in a lot more trouble than you think.

I take no pleasure in these facts, except that our leaders hold us in less contempt than your president holds you.

12 posted on 04/23/2011 1:45:26 PM PDT by Former Proud Canadian (Canadians are not SLUGS!)
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To: SeekAndFind
As I've been saying for several years, on this forum, loss of reserve currency status would be devastating for the U.S. economy. Americans seem to have little or no appreciation, of how important having the reserve currency is. When we, in the rest of the world, borrow money from foreigners; the debt is not denominated in our own currency. We can't inflate ourselves out of debt. It seems that the U.S. is about to lose this unique privilege. You have no one to blame but yourselves — or more specifically, your President, your Congress, and your central bank (the Federal Reserve). Obama must not be allowed to deflect blame for this.
13 posted on 04/23/2011 1:45:26 PM PDT by USFRIENDINVICTORIA
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To: SeekAndFind

I wish Steyn would steal my nickname for the current occupant of the WH completely. He’s got the Obammie part down.

The complete and accurate nickname is “Obammie the Commie.”


14 posted on 04/23/2011 1:45:47 PM PDT by Ghost of Philip Marlowe (Prepare for survival.)
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To: SeekAndFind

I wish I could see where Mr. Steyn was wrong, but as far as I can tell he’s right. The rest of the world is waking up to the fact that our economy is going down the drain. Unless we do something serious about cutting out spending and entitlements, they won’t put up with us much longer.


15 posted on 04/23/2011 1:50:15 PM PDT by DeskCaptain
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To: NWFLConservative; Lazlo in PA

RE: We’re NOT on parity any more, the Canadian dollar is now worth $1.05 US.


I used to live in Australia. Historically it takes about 0.75 to 0.80 US cents to buy one Aussie.

Today, 1 Aussie is 1.07 USD !!

And oh yeah, take that third world country called the Philippines. It used to be 1 USD could buy 55 Philippine Pesos.

Today, 1 USD buys a mere 43 pesos !!

Yes, WE ARE IN TROUBLE.

We’re getting poorer compared to some of our allies.


16 posted on 04/23/2011 1:51:58 PM PDT by SeekAndFind
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To: NWFLConservative; Former Proud Canadian; SeekAndFind

Sorry kids. I am running on some old info. I had no idea the the Canadians surpassed the dollar by such a large amount. Last I checked it was close but had not overtaken us yet. Geez. How depressing.


17 posted on 04/23/2011 2:19:28 PM PDT by Lazlo in PA (`)
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To: SeekAndFind

18 posted on 04/23/2011 2:20:57 PM PDT by paulycy (Islamo-Marxism is Evil.)
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To: SeekAndFind

it’s really Sad that only one Son of a B—ch like Obama could ruin the United States of America.


19 posted on 04/23/2011 2:21:17 PM PDT by chatham
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To: SeekAndFind

So America.

How’s that “free trade” thing working out?


20 posted on 04/23/2011 2:21:58 PM PDT by Cringing Negativism Network (Birther on Board)
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