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The Dollar is almost done.
Anonymous Kritter Show this Post
03-06-2011, 11:03 PM #1
Anonymous Kritter Incognito
 
Quote:"What’s my biggest single financial concern is the loss of the dollar as the reserve currency, I can’t imagine anything being more disastrous to our country than if the dollar lost its reserve-currency status.”

“you’re already seeing things in the markets that are suggesting that confidence in the dollar is waning.”

If that happens, the impact on the United States would be deep. “I think you could see a 25 percent reduction in the standard of living in this country if the U.S. dollar was no longer the world’s reserve currency,” Zell said “That’s how valuable it is.”

“The reality out there is the costs are going up. The fact that we’ve been massive beneficiaries of Chinese mercantilist policies that have allowed us to buy goods at much less than their fair value. That has hurt us on the manufacturing side, but it has been a subsidy to America. That subsidy is coming to an end.”

Others agree with Zell that the dollar’s world dominance will soon fade.

www.moneynews.com l
03-06-2011, 11:08 PM #2
Octo Mother Superior
Posts:41,538 Threads:1,589 Joined:Feb 2011
So...what say you? Panic sex or party time? hmm.gif Decisions decisions...
03-06-2011, 11:12 PM #3
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,289 Threads:1,495 Joined:Feb 2011
Do I make another martini or take a nap? 13.gif Who can make a decision with all this freedom. 37.gif

wonder.gif

Anonymous Kritter Show this Post
03-06-2011, 11:20 PM #4
Anonymous Kritter Incognito
 
Quote:"if that happens, the impact on the United States would be deep. “I think you could see a 25 percent reduction in the standard of living in this country if the U.S. dollar was no longer the world’s reserve currency,” Zell said “That’s how valuable it is.”

wtf2.gif We are screwed
03-07-2011, 01:12 AM #5
Shadow Incognito
 
$14 trillion can't be repaid. The US$ has to collapse. Got silver?
03-07-2011, 02:11 AM #6
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,289 Threads:1,495 Joined:Feb 2011
It's by design that the world economy is standing on the brink. I'm interested in what the replacement currency will be, I 'm thinking credits on accounts, no more paper; that way every transaction can be accounted for and scrutinized by all the alphabet agencies that get a hardon from calling the people that pay their wages terrorists.


wonder.gif

03-07-2011, 04:57 AM #7
Shadow Incognito
 
World currency will be the IMF's SDR it's already legal currency in the US. Sorta interesting to see the UK seize Libyan cash, perhaps they'll exchange it for SDRs and loan it back to them? rofl.gif
http://www.cbsnews.com/stories/2011/03/0...9312.shtml
03-07-2011, 05:04 AM #8
yankees skier
Posts:5,032 Threads:215 Joined:Feb 2011
I'm looking for a new car, I guess I better do it soon. gaah.gif

Biere.
03-07-2011, 05:52 AM #9
Shadow Incognito
 
A few years ago I advised a fellow I work with (owns a hydroponics shop) to buy silver. Well lo and behold he listened to me! Got an email from him yesterday thanking me for the advice, he'd put quite a bit in and tripled his investment. I said wait, it's just begun. We'll see $100 silver by 2015 if not sooner. We'll also see the USDX hit below 70 by then. Got silver?
03-07-2011, 01:00 PM #10
Octo Mother Superior
Posts:41,538 Threads:1,589 Joined:Feb 2011
(03-07-2011, 05:52 AM)Shadow Wrote:  Got silver?

uhhuh.gif
[Image: silverware.jpg]



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