US Dollar Collapsing Today!

Discussion in 'Politics' started by skip, Sep 20, 2007.

  1. skip

    skip Founder Administrator

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    Looks like the Saudis and other mid-east countries are removing their currencies peg to the US dollar. Kuwait (our great ally) was the first to do this.

    http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/19/bcnsaudi119.xml&CMP=ILC-mostviewedbox

    Already today the US hit a new ALL-TIME low against the Euro, at 1.405

    As the dollar drops more countries will do the same. They all realize the US economy is gonna tank because we can no longer fund the US debt.

    Foreign purchases of US Bonds are drying up. NOBODY wants 4-5% interest when the dollar will drop faster than that!

    That means China, Russia and Mideast countries now have economic leverage over the US like never before. We are in DEBT to them to the tune of TRILLIONS! They OWN US, OUR HOMES and won't hesitate to use their "dollar nuclear option" if the need arises.

    Yes, the entire SYSTEM is on the verge of collapse, although it could survive, but NOT the US dollar at its present level.

    Get rid of your dollars and buy something USEFUL and NECESSARY to your survival now while you can still buy shit.
     
  2. skip

    skip Founder Administrator

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    OOPS!!! Since I last checked, only an hour ago, the dollar lost another half a cent! and now stands at 1.409

    BTW, this could ALSO be happening because the word is out that the US is going to attack Iran...
     
  3. skip

    skip Founder Administrator

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    Canadian dollar nearly at parity, first time in 31 years!

    US$ = 1.001 Canadian...

    DIG IT! YOUR MONEY IS BECOMING MORE WORTHLESS BY THE MINUTE!
     
  4. Carlfloydfan

    Carlfloydfan Travel lover

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    the dollar has been fluctuating between 1.35 and 1.38 since may, or even before, usually holding steady around 1.37 always with rumors that the story talks about which would screw hard working Americans.

    I may be naive to the whole currency thing though. But I feel, that money is inhumane anyways. Look at what it would do to all the hard working people who just want to get by and live a simple life, because of a dependency on money, all their hard work could be for nothing.
     
  5. Carlfloydfan

    Carlfloydfan Travel lover

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    1.40929..I think I'll go out right now, and get a big bag of rice and canned beans and other such food...just in case
     
  6. skip

    skip Founder Administrator

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    Wise move, but this problem is only going to get worse for the foreseeable future!

    Our only hope is that it doesn't go fucking down the tubes late some night when nobody's watching... Hopefully the economy will dissolve in progressive gradual increments, than one Black Friday....

    If you don't think this can happen, you're wrong. All China has to do is dump it's US bonds and currency late one night when our markets are closed. Russia and the Saudis follow next.

    Wake up the next morning and we are living like third world ppl... $10 a gal gas might be the least of our worries...
     
  7. Piney

    Piney Lifetime Supporter Lifetime Supporter

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    Oil is up to $83, per barrel, a record.
     
  8. skip

    skip Founder Administrator

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    What you have to remember about all these price rises, like oil, is that most of the time, it is only the U.S. who pays more as the dollar drops. The rest of the world doesn't notice any difference!

    So our standard of living drops, while others are still rising (quite nicely in fact!).

    Europe, even EASTERN EUROPEANS have a better standard than we do, and the gap will grow further over the next few years!
     
  9. Carlfloydfan

    Carlfloydfan Travel lover

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    Yah I mean there are official statements on quality of life which I have looked at, but it really depends on your lifestyle and how you personally live: eat healthy and workout and already your headed towards a peak quality. sure there are external forces we have no control of, which are really hurting, but someone living in the country ranked with the highest quality of life can be living worse, because of what they do to themselves, than someone in a country ranked 150. I think it is more subjective and hard to look at any country collectively, because of the vast amount of individuals. France has been ranked #1, but some of those people in the ghettos of Paris would beg to differ for sure! My life in France or US is the same level of quality, for now, outside a few shitty external factors which are trying to make the US a lot shittier now, but so far I have found different means to maintain a quality that makes me happy. I get by, eat right, excercise and feel my body is operating at optimal quality, which means in my book, internally at least, quality of life is great. I just have to find ways around the external factors, like I said, that I can not control. if that means stocking up on food while it is still cheap, so be it. Of course with the growing police states in Europe and USA, I think QoL is becoming less relevant anyways, as soveriegnty over our own bodies decline and external factors start to ruin internal ones that we ourselves should be able to control.

    anyways, QoL is so subjective and I take the official rankings with a grain of salt, as each study differs, France being 1 in some, 10 in others and barely top 20 still in others. QoL projections, you have to look at who did the studies and what those researchers may have to gain or what biases they may hold and I say that with no country in my own personal mind.

    anyways, as long as we can push off these external factors or get around them and fend off the growing police state and STOP IT, we can still make our QoL fine, though I am in no way dismissing the many obstacles that are being put in our way, more and more each day, like the declining dollar and decline of liberties. I realize that and the challange it presents towards internal strives for QoL.

    Its up to us to determine QoL for ourselves in the US and Europe at least, not a study researchers did.
     
  10. Carlfloydfan

    Carlfloydfan Travel lover

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    and skip I do realize that what has allowed US to have such a high QoL in the past, especially in past decades, was the tremendous amounts of debt people were allowed to get into to live beyond their means. and now it is coming back to haunt us.

    a credit card is really unheard of France. sure you take out a loan for a house or what not. But Americans especially tend to be really good at living beyond their means, buying all sorts of gadgets and crazy toys, coupled with a lying media (war especially), and that is what is really doing us in. things are coming back to haunt us, past mistakes, maybe collective karma for that US, who knows. But I think people realize that the way they are living, those days may be coming to an end unless they decide to act out big time.
     
  11. seamonster66

    seamonster66 discount dracula

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    Does anyone think this is the prelude to the hypothetical "Amero?"
     
  12. LuckyStripe

    LuckyStripe Mundane.

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    Well, I just did a google search on this and LOTS came up.....

    "US dollar collapsing today"..... I'm glad I have lots and lots of rice and dried beans here but this is rather frightening and interesting.....


    Ps- found from free internet press

    "But the latest turmoil in mortgage markets has, in a single stroke, shaken faith in the resilience of American finance to a greater degree than even the bursting of the technology bubble in 2000 or the terror attacks of Sept. 11, 2001, analysts said. It has also raised prospect of a recession in the wider economy."

    and....

    "This step would logically follow the rapidly cooling housing market, since Americans have spent heavily with money borrowed against rising home values. "



    ---- I had a feeling the housing bubble collapsing was connected in some way.......
     
  13. Carlfloydfan

    Carlfloydfan Travel lover

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    I think so.

    There is a famous equation

    something like

    create problem, have a solution ready before problem and than implent it. and maybe there is something else.

    But it is a reality. The media won't say anything for the most part, because media is irrelevant. But a little blurb was mentioned on CNN that it is coming, just so they can cover their asses and say they did try inform people...yah a 2 minute blurb is really informing.
     
  14. seamonster66

    seamonster66 discount dracula

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    A lower dollar makes U.S. exports more competitive, which is good news for American manufacturers but spells rising prices for imports to the U.S. The dollar's decline also diminished the spending power of American tourists while attracting to the U.S. foreign visitors who seek cheaper accommodations and shopping.-By Jackie Farwell, AP Business Writer

    well if we still actually made many things, which allowed this country to flourish, the news wouldn't be as bad
     
  15. LuckyStripe

    LuckyStripe Mundane.

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  16. hippiehillbilly

    hippiehillbilly the old asshole

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  17. seamonster66

    seamonster66 discount dracula

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    It still nothing to absolutely panic about,

    its hit a benchmark vs the Canadian dollar, but its not collapsing anymore than it was a few years back, declining yes...

    oh well, what can we do?
     
  18. LuckyStripe

    LuckyStripe Mundane.

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    Which article HHB? I was gonna delete my last post because I saw the date was in 2006 but I decided to leave it up anyways because it's still relevant.
     
  19. hippiehillbilly

    hippiehillbilly the old asshole

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  20. Carlfloydfan

    Carlfloydfan Travel lover

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    well getting food is all good, but get shit you can eat cold.

    if the dollar declines, things become more expensive, so that means lights out more often and no gas stove the majority of the time.
     

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