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AnastomosisJihad
Hominid



Registered: 01/01/08
Posts: 700
Loc: Ohio
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Currency Collapse
#7886550 - 01/15/08 11:04 PM (16 years, 17 days ago) |
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I don't follow the markets much, but I have been hearing speculation that the American dollar might collapse soon, and I'm thinking it might be wise to invest in real property like nonperishable food, a few cans of gasoline, and ammunition. I don't even own a gun, but bullets are tradable like coins and will retain their value regardless of what happens to the dollar. Am I just being paranoid, or is a currency collapse imminent?
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Currency collapse or not, it is ALWAYS wise to:
1..have a supply of food and drink in your house at all times that will last you some time. One week as a minimum, one month would be far better.
2..have gear on which to cook all this independently of electricity or gas mains. If you have a big propane tank in the yard problem solved, if not a camping stove + fuel should be bought.
3..have winter-resistant sleeping bags and a lightweight tent for all the family. Not really expensive anymore these days.
4..for driving in winter, have some food, drink, a glowstick and a sleeping bag in the trunk of the car or on the back seat in case you get stuck.
These are simple preparedness guidelines that can help you out under numerous less than disastrous circumstances. The food pantry for instance is great when suddenly around dinnertime a flock of relatives appears who'd like to eat along. The camping gear can be fun for a trip to the forest, and if you do get stuck in a traffic jam with a hunger a soda pop and a candybar won't hurt either 
Is a currency collapse imminent for the US dollar? If you elect a bad president I think a collapse is more likely than not in the next 10 years. With a good president, less than 50% but still a few dozen %.
-------------------- Omnicyclion.org higher knowledge starts here
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art
Stranger
Registered: 06/15/05
Posts: 331
Last seen: 14 years, 4 months
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Re: Currency Collapse [Re: Asante]
#7898968 - 01/18/08 08:06 PM (16 years, 14 days ago) |
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no its not! people always over react to these types of things. The dollar has already started to rise. it is possible, but very unlikely. It does not matter what the circumstances are people always believe that some great atrocity is about to happen.
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Le_Canard
The Duk Abides


Registered: 05/16/03
Posts: 94,392
Loc: Earthfarm 1
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Quote:
AnastomosisJihad said: Am I just being paranoid, or is a currency collapse imminent?
Naw, people in power have too much at stake to ever let that happen.
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DieCommie


Registered: 12/11/03
Posts: 29,258
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Re: Currency Collapse [Re: Le_Canard]
#7900023 - 01/19/08 01:14 AM (16 years, 14 days ago) |
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Everybody has too much at stake. Even so called 'enemies' inevitably work together to avoid it.
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wyrdfreeg
aetnrags
Registered: 01/17/08
Posts: 66
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Re: Currency Collapse [Re: DieCommie]
#7901047 - 01/19/08 10:33 AM (16 years, 13 days ago) |
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clones
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freddurgan
Techgnostic



Registered: 01/11/04
Posts: 3,648
Last seen: 11 years, 8 months
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Re: Currency Collapse [Re: wyrdfreeg]
#7901616 - 01/19/08 12:59 PM (16 years, 13 days ago) |
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Well what about the fact that we have shifted from a production to a service economy (not 100% but the shift is significant) and have terrible trade deficits. We are just blowing whatever savings we have left and then borrowing in order to import the stuff we don't make anymore. We're up to our ears in debt and we don't have any production to catch up with it.
It looks grim, for real. Including the money owed through social security we are over 50 trillion dollars in debt. It's obscene.
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art
Stranger
Registered: 06/15/05
Posts: 331
Last seen: 14 years, 4 months
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Re: Currency Collapse [Re: freddurgan]
#7903185 - 01/19/08 07:45 PM (16 years, 13 days ago) |
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We have shifted our economy many times before, this is nothing new. This is also not the first time we have had a trade deficit, and a trade deficit is NOT a bad thing. It can have bad effects but it can also have positive ones. what do you mean that we don't have any production? have you seen our GDP?
we are fine. There are a lot of people that going to get fucked over because of the housing market, and the recession, but this is nothing new. If you want to see some real fucked up recessions look at the 19th century and early 20th century, that also happens to be where Ron Paul wants to go.
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Currency Collapse [Re: art]
#7903720 - 01/19/08 09:38 PM (16 years, 13 days ago) |
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Quote:
We have shifted our economy many times before, this is nothing new.
This time you practically shifted from a difficult position to the verge an economic catastrophe.
Quote:
This is also not the first time we have had a trade deficit, and a trade deficit is NOT a bad thing.
You're over $50.000.000.000.000 in debt. Thats $167.000 per man, woman and child. A baby born in the US today is born with a debt that could buy a house.
Quote:
have you seen our GDP?
If I put money in my scanner and fire up my printer I'll be a millionaire before the day is out. The number of dollars means nothing when the M3 money supply has been exploding like it has. Imagine how big the GDP is in monopoly money.
Quote:
we are fine. There are a lot of people that going to get fucked over because of the housing market
Millions of Americans will; lose the home they invested in. How's that fine?
Quote:
and the recession, but this is nothing new. If you want to see some real fucked up recessions look at the 19th century and early 20th century
The Great Depression was caused by the Fed and major bankers. First saturate the market with "margin loans" that makes people invest ten times the money they have, while increasing the money supply. Then, suddenly call in all the loans, causing massive sale of stock to generate the money, take this money and then reduce the money supply. The Fed did the Great Depression.
-------------------- Omnicyclion.org higher knowledge starts here
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art
Stranger
Registered: 06/15/05
Posts: 331
Last seen: 14 years, 4 months
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Re: Currency Collapse [Re: Asante]
#7904337 - 01/20/08 01:09 AM (16 years, 13 days ago) |
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The Fed did not "create" the Great Depression. That may have been one part in many that caused the Great Depression but not the main one.
I also don't understand your putting money in a scanner analogy. The point is we create much more GDP than the deficit. While the deficit is big it is nothing threatening.
you are right that it is not fine that millions of people will loose their homes, but I meant it in terms of our economy collapsing.
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wyrdfreeg
aetnrags
Registered: 01/17/08
Posts: 66
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Re: Currency Collapse [Re: art]
#7905023 - 01/20/08 09:05 AM (16 years, 12 days ago) |
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yall have such a negative outlook, i say we just go underground, the irs cant catch us there
underground with the moles i swear to god, just got to watch out for grenads
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norml840
sex toy guru



Registered: 10/19/07
Posts: 3,170
Loc: lost
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Re: Currency Collapse [Re: art]
#7906712 - 01/20/08 06:13 PM (16 years, 12 days ago) |
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Quote:
art said: The Fed did not "create" the Great Depression. That may have been one part in many that caused the Great Depression but not the main one.
please enlighten me on the main cause.
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freddurgan
Techgnostic



Registered: 01/11/04
Posts: 3,648
Last seen: 11 years, 8 months
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Re: Currency Collapse [Re: art]
#7907139 - 01/20/08 08:11 PM (16 years, 12 days ago) |
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Quote:
art said: I also don't understand your putting money in a scanner analogy. The point is we create much more GDP than the deficit. While the deficit is big it is nothing threatening.
The point is that there is a difference in money and wealth. We have massive amounts of liquidity but we are quickly turning over the actual important production parts of the economy (wealth) to other countries. Just because we have a lot of money does NOT mean you are rich. It means you have a lot of money. Big difference.
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art
Stranger
Registered: 06/15/05
Posts: 331
Last seen: 14 years, 4 months
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Re: Currency Collapse [Re: freddurgan]
#7907526 - 01/20/08 09:35 PM (16 years, 12 days ago) |
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I am not sure what you are talking about freddurgan.
The main cause of the Great Depression was the fact that people did not have enough money to buy all of the goods being produced. That mixed with some stupid tariffs, and other policies made by Hoover. After ww1 the U.S. shifted from a debtor nation to a creditor nation but was unwilling to buy products from Europe so they stopped buying from the U.S. The speculation in the stock market was another small factor, as well as the federal reserve lowering the re-discount rate. There were many other factors.
There might be some of the same patterns as the great depression but that does not in any way mean that we are going the same route. Things are completely different right now.
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zorbman
blarrr



Registered: 06/04/04
Posts: 5,952
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Re: Currency Collapse [Re: art]
#7919934 - 01/23/08 01:44 PM (16 years, 9 days ago) |
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Things are completely different right now.
Famous last words..
"This time it's different".
Actually, I agree somewhat that it will be different.
Last time we had a deflationary depression- this one will be hyper-inflationary.
-------------------- “The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.” -- Rudiger Dornbusch
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Gr33nday43




Registered: 01/05/08
Posts: 410
Loc: Manchester, UK
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Re: Currency Collapse *DELETED* [Re: zorbman]
#7921043 - 01/23/08 06:22 PM (16 years, 9 days ago) |
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Post deleted by Gr33nday43Reason for deletion: That's a secret.
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art
Stranger
Registered: 06/15/05
Posts: 331
Last seen: 14 years, 4 months
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Re: Currency Collapse [Re: Gr33nday43]
#7921221 - 01/23/08 07:02 PM (16 years, 9 days ago) |
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and so when will I be seeing this huge collapse that everyone is talking about?
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freddurgan
Techgnostic



Registered: 01/11/04
Posts: 3,648
Last seen: 11 years, 8 months
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Re: Currency Collapse [Re: art]
#7921277 - 01/23/08 07:12 PM (16 years, 9 days ago) |
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Nobody can answer that really. It just seems obvious to some people that it's inevitable based on how we run things. We are phenomenal at delaying! Just look at Tuesday. 75 basis point drop in the prime rate! Let's solve this with MORE CREDIT! SPEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEENNNNNNDDDDDDDDD DAMNIT!
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Icelander
The Minstrel in the Gallery



Registered: 03/15/05
Posts: 95,368
Loc: underbelly
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Re: Currency Collapse [Re: zorbman]
#7921877 - 01/23/08 09:08 PM (16 years, 9 days ago) |
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Quote:
zorbman said: Things are completely different right now.
Famous last words..
"This time it's different".
Actually, I agree somewhat that it will be different.
Last time we had a deflationary depression- this one will be hyper-inflationary.
I find this all hard to predict. I have lived through several periods when many of the experts were predicting destruction of our economy. They were all wrong but made some quick bucks selling their predictions in book form.
-------------------- "Don't believe everything you think". -Anom. " All that lives was born to die"-Anom. With much wisdom comes much sorrow, The more knowledge, the more grief. Ecclesiastes circa 350 BC
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art
Stranger
Registered: 06/15/05
Posts: 331
Last seen: 14 years, 4 months
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Re: Currency Collapse [Re: Icelander]
#7922148 - 01/23/08 10:03 PM (16 years, 9 days ago) |
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Quote:
Icelander said:
Quote:
zorbman said: Things are completely different right now.
Famous last words..
"This time it's different".
Actually, I agree somewhat that it will be different.
Last time we had a deflationary depression- this one will be hyper-inflationary.
I find this all hard to predict. I have lived through several periods when many of the experts were predicting destruction of our economy. They were all wrong but made some quick bucks selling their predictions in book form.
That is exactly what I am trying to say.
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