Is the Dollar going to be replace? (1 Viewer)

[blackadder]

I'm very concerned with the fact that our leaders in Washington are spending us into this bad situation. That's why I will try to vote as many of them out of office as I can next year. Unfortunately we are stuck with the bunch of idiots we have until next year.
The deficit spending has got to stop.

The unfortunate thing is that expediency always wins.

The only way out of the situation is to endure a lengthy recession as the nation pays off the past excess and set the stage for "organic" growth based on sound fundamentals, not government pump priming. That's the reality. We've got the past 25 years of pump priming to pay for...

Any other avenue in which you are told that we can continue to grow at 3% a year and still have these bailouts, entitlements, wars, deficits etc. and NOT experience any negative consequences is just smoke and mirrors.

And you see which way it's going to go.

 

[blackadder]

The dollar tanked today with gold shooting up 2% based on the reports of initial discussion to drop the dollar as the trading currency for oil.

Since then "officials" have denied any knowledge of such talks:

http://finance.yahoo.com/news/Offic...0&sec=topStories&piece of work=5&asset=&ccode=

 

[Baybee_Biggum225]

Far right propaganda. Sad really.

 

[blackadder]

Far right propaganda. Sad really.

This is propaganda?:

http://tfc-charts.w2d.com/chart/US/M


Really, with this record and all the spending and bailouts dumped on top of the currency, the only way is down. You'd be irresponsible to yourself and to your own people if you did not start exploring other options for the "post-American" world. At a minimum, this hands great risk on your business.

I would expect most of our trading partners to be fleshing out a new contingency plan. I would.

http://finance.yahoo.com/tech-ticke...x&sec=topStories&piece of work=8&asset=&ccode=

 

[V Chip]

Apparently the D has already been eliminated!

 

[Baybee_Biggum225]

Yea, the Dollar will bounce back. We will never change our monetary system in this country. Its slid before.

 

[blackadder]

Yea, the Dollar will bounce back. We will never change our monetary system in this country. Its slid before.

No, we don't have to change our money, but maybe the policies that back it up.

Watch what happens if we don't...

 

[JimEverett]

We are actually better off right now than we have been in a few years - certainly better than our record deficit in 2006:

http://www.bea.gov/newsreleases/international/transactions/transnewsrelease.htm

Still, the deficit is way too high to be comfortable. But at 2.9% of GDP its the best we have seen in a decade. Compare to over 6% in 2006.
Recessions, I guess, have some good news.

 

[Baybee_Biggum225]

No, we don't have to change our money, but maybe the policies that back it up.

Watch what happens if we don't...

I agree. Capitalism is a failure................or at least its bound to fail every couple of decades. A lot of people lose jobs, a lot of businesses close, credit dries up, homes are foreclosed, the rich still get richer, and it takes years to rebound. Honestly, we need to seriously take a look at how Europeans run their countries.

 

[Baybee_Biggum225]

We need to cut military spending dramatically, as well. Its just too much to maintain.

 

[Madhattr]

I heard the new currency was going to be like the euro. It will combine the currencies of mexico, ths USA and canada. It will be called the North American Dollars or NADS for short. Cant wait to get my hands on some NADS.

Lol

 

[St.Ryan]

1. Y'all need to read up on the Great Depression. If you want to balance the budget in the middle of a recession, you're going to cripple the economy.

2. If you cripple an economy in the midst of a recession, the dollar is going to plummet. The dollar is traded. It goes up if people want it, and down if people don't relative to another currency. The smartest guys in the world disagree on where currencies will go. It's practically impossible to figure out where people will want to put their money. We do know this however-- when things get scary, the dollar rises. This should tell you all you need to know about our economic system relative to others.

3. The irony is that as the dollar drops, unemployment should soften due to an increase in the demand for our goods. Foreigners will want our goods more because they're cheaper than they used to be. And we'll want our own goods more because our dollar can't buy as many foreign goods anymore so we'll buy more of our own.

4. I doubt we see the day anytime soon where we share a currency with the rest of the continent. It puts those countries in far too big a hole if a recession occurs. They wouldn't be able to help themselves.

 

[ianm892]

1. Y'all need to read up on the Great Depression. If you want to balance the budget in the middle of a recession, you're going to cripple the economy.

2. If you cripple an economy in the midst of a recession, the dollar is going to plummet. The dollar is traded. It goes up if people want it, and down if people don't relative to another currency. The smartest guys in the world disagree on where currencies will go. It's practically impossible to figure out where people will want to put their money. We do know this however-- when things get scary, the dollar rises. This should tell you all you need to know about our economic system relative to others.

3. The irony is that as the dollar drops, unemployment should soften due to an increase in the demand for our goods. Foreigners will want our goods more because they're cheaper than they used to be. And we'll want our own goods more because our dollar can't buy as many foreign goods anymore so we'll buy more of our own.

4. I doubt we see the day anytime soon where we share a currency with the rest of the continent. It puts those countries in far too big a hole if a recession occurs. They wouldn't be able to help themselves.

This....FDR got us out of the depression by creating government jobs for citizens as well as spending money

 

[blackadder]

1. Y'all need to read up on the Great Depression. If you want to balance the budget in the middle of a recession, you're going to cripple the economy.

2. If you cripple an economy in the midst of a recession, the dollar is going to plummet. The dollar is traded. It goes up if people want it, and down if people don't relative to another currency. The smartest guys in the world disagree on where currencies will go. It's practically impossible to figure out where people will want to put their money. We do know this however-- when things get scary, the dollar rises. This should tell you all you need to know about our economic system relative to others.

3. The irony is that as the dollar drops, unemployment should soften due to an increase in the demand for our goods. Foreigners will want our goods more because they're cheaper than they used to be. And we'll want our own goods more because our dollar can't buy as many foreign goods anymore so we'll buy more of our own.

4. I doubt we see the day anytime soon where we share a currency with the rest of the continent. It puts those countries in far too big a hole if a recession occurs. They wouldn't be able to help themselves.

That was when we used to make things to sell other than commodities or financial services.

Are they really going to line up to buy Chevy's? Is China gonna bank with BoA?

Just at what point do you stop borrowing?

Because the excuse is always that it will "hurt the economy" if we are not borrowing money and doling out in the form of pork. Well, guess what?

Excessive borrowing has hurt the economy more than anything and had us on the verge of a depression anyway.

 

[blackadder]

This....FDR got us out of the depression by creating government jobs for citizens as well as spending money

Not so cut and dry.

FDR made people feel good but on the eve of WWII the economy was still going sideways and still well below 1929 levels.

http://www.historylearningsite.co.uk/New_Deal_success.htm

http://www.usnews.com/money/business-economy/articles/2008/04/11/did-the-new-deal-work.html