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-   -   US Dollar no longer the Worlds Reserve Currency (http://www.wakeworld.com/forum/showthread.php?t=789559)

t0nyv831 08-12-2011 7:51 PM

US Dollar no longer the Worlds Reserve Currency
 
Ok it hasn't occured yet, but what if? Not sure if this has been posted on here before, but do yourself a favor and watch it. I want to get people's opinion on this.

http://www.stansberryresearch.com/pr...VD/6PSIM800/PR

stepintoliquid 08-28-2011 5:19 PM

Pretty rad predictions. Not really sure what to think...

sailing216 08-29-2011 7:52 AM

Some of his results of the dollar not being the sole currency are a bit over the top. Generally I do think the push to a new currency will happen. His same arguments could have been made when they created the Euro a few years ago which now shows it did not take over the commodities market traded in dollars. BUT I believe the previous years of proposals by countries such as IRAN to not trade oil in dollars may be adopted by communistic countries like China, and Russia (Venz, Brazil, N.Korea). I see a more likely outcome of two commodity markets.

His predictions don't address a military 'operation' scenario. If our backs are against the wall with Iran leading the way, I think the US will find a reason to change their ideas. China is a consumer like the USA so no reason to fight them, go to the source producing country and take them over. Or like I said above, 2 commoditiy markets of Iran/China vs. Saudi/USA.

The US is the largest consumer, so if China goes to a new currency commodities market, the US will just kick them out of our circle and slowly live within our means. I don't see the end of the dollar and riots in the streets for bread, I see inflation and everything expensive as we ween ourselves off China's credit line.

The sky isn't falling, but the debt ceiling needs to come down. If Japan goes to 15% corp tax, the USA better damn well too (just cut all the loopholes so companies like GE actually pay something...)

Laker1234 08-29-2011 7:40 PM

A definite wake up call. Unfortunately, the majority of the voting public buy into the liberals' rhetoric and blame conservatives as creating the currency problem but, in reality, the current administration views the weak dollar as a way to export more goods and sees no problem in printing extra green. Many Democrats portray themselves as a friend of the working man but they aren't. For example, take some time to study (ASK YOUR LOCAL BANK'S CFO) the Dodd-Frank Act, which will--more than likely-- lead to banks to charge consumers to maintain a checking account. The banks will have to make up the the lost revenue somehow. This act, IMHO, will only hurt the poor and the middle class. Liberal Democrats are not the working man's friend.

fly135 08-29-2011 8:28 PM

What you guys don't understand is that our currency has strength in the world because of a number of factors. And one big reason is our willingness to go into great debt to keep injecting money into the economy and provide aid/bribes to foreign nations. It's either print green or increase debt, or in reality both. And that's why the govt can't stop. We are addicted to cheap consumer goods, foreign oil, and the world is addicted to us buying them.

The problem is while we shovel cash to china and other emerging economies our debt keeps growing. So when these emerging economies get bigger we'll be swamped in debt as a price to pay for helping them.

It's on all of our heads. The only thing to complain about the govt is that they don't have the balls to tell us we're the problem. Not that it would do any good because we'd just elect the politician that said.... "I can create jobs and improve the economy with no sacrifice on your part". IOW, American's are literally begging the govt to keep lying to them.


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