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InvisibleAnastomosisJihad
Hominid
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Registered: 01/01/08
Posts: 700
Loc: Ohio
Currency Collapse
    #7886550 - 01/15/08 11:04 PM (16 years, 17 days ago)

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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InvisibleAsante
Mage
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Registered: 02/06/02
Posts: 86,795
Re: Currency Collapse [Re: AnastomosisJihad]
    #7886894 - 01/16/08 12:37 AM (16 years, 17 days ago)

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 :smile:


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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Offlineart
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Registered: 06/15/05
Posts: 331
Last seen: 14 years, 4 months
Re: Currency Collapse [Re: Asante]
    #7898968 - 01/18/08 08:06 PM (16 years, 14 days ago)

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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InvisibleLe_Canard
The Duk Abides


Registered: 05/16/03
Posts: 94,392
Loc: Earthfarm 1 Flag
Re: Currency Collapse [Re: AnastomosisJihad]
    #7899564 - 01/18/08 10:28 PM (16 years, 14 days ago)

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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InvisibleDieCommie


Registered: 12/11/03
Posts: 29,258
Re: Currency Collapse [Re: Le_Canard]
    #7900023 - 01/19/08 01:14 AM (16 years, 14 days ago)

Everybody has too much at stake. Even so called 'enemies' inevitably work together to avoid it.


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Invisiblewyrdfreeg
aetnrags
Registered: 01/17/08
Posts: 66
Re: Currency Collapse [Re: DieCommie]
    #7901047 - 01/19/08 10:33 AM (16 years, 13 days ago)

clones


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Offlinefreddurgan
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Registered: 01/11/04
Posts: 3,648
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Re: Currency Collapse [Re: wyrdfreeg]
    #7901616 - 01/19/08 12:59 PM (16 years, 13 days ago)

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.


--------------------
Ishmael
http://www.ishmael.org

Ron Paul 2008!
http://www.ronpaul2008.com/


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Offlineart
Stranger
Registered: 06/15/05
Posts: 331
Last seen: 14 years, 4 months
Re: Currency Collapse [Re: freddurgan]
    #7903185 - 01/19/08 07:45 PM (16 years, 13 days ago)

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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InvisibleAsante
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Registered: 02/06/02
Posts: 86,795
Re: Currency Collapse [Re: art]
    #7903720 - 01/19/08 09:38 PM (16 years, 13 days ago)

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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Offlineart
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Registered: 06/15/05
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Last seen: 14 years, 4 months
Re: Currency Collapse [Re: Asante]
    #7904337 - 01/20/08 01:09 AM (16 years, 13 days ago)

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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Invisiblewyrdfreeg
aetnrags
Registered: 01/17/08
Posts: 66
Re: Currency Collapse [Re: art]
    #7905023 - 01/20/08 09:05 AM (16 years, 12 days ago)

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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Invisiblenorml840 Happy Birthday!
sex toy guru
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Registered: 10/19/07
Posts: 3,170
Loc: lost
Re: Currency Collapse [Re: art]
    #7906712 - 01/20/08 06:13 PM (16 years, 12 days ago)

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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Offlinefreddurgan
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Registered: 01/11/04
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Last seen: 11 years, 8 months
Re: Currency Collapse [Re: art]
    #7907139 - 01/20/08 08:11 PM (16 years, 12 days ago)

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.


--------------------
Ishmael
http://www.ishmael.org

Ron Paul 2008!
http://www.ronpaul2008.com/


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Offlineart
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Registered: 06/15/05
Posts: 331
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Re: Currency Collapse [Re: freddurgan]
    #7907526 - 01/20/08 09:35 PM (16 years, 12 days ago)

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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Invisiblezorbman
blarrr
Male


Registered: 06/04/04
Posts: 5,952
Re: Currency Collapse [Re: art]
    #7919934 - 01/23/08 01:44 PM (16 years, 9 days ago)

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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InvisibleGr33nday43
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Registered: 01/05/08
Posts: 410
Loc: Manchester, UK Flag
Re: Currency Collapse *DELETED* [Re: zorbman]
    #7921043 - 01/23/08 06:22 PM (16 years, 9 days ago)

Post deleted by Gr33nday43

Reason for deletion: That's a secret.



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Offlineart
Stranger
Registered: 06/15/05
Posts: 331
Last seen: 14 years, 4 months
Re: Currency Collapse [Re: Gr33nday43]
    #7921221 - 01/23/08 07:02 PM (16 years, 9 days ago)

and so when will I be seeing this huge collapse that everyone is talking about?


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Offlinefreddurgan
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Registered: 01/11/04
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Re: Currency Collapse [Re: art]
    #7921277 - 01/23/08 07:12 PM (16 years, 9 days ago)

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!


--------------------
Ishmael
http://www.ishmael.org

Ron Paul 2008!
http://www.ronpaul2008.com/


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InvisibleIcelander
The Minstrel in the Gallery
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Registered: 03/15/05
Posts: 95,368
Loc: underbelly
Re: Currency Collapse [Re: zorbman]
    #7921877 - 01/23/08 09:08 PM (16 years, 9 days ago)

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.:shrug:


--------------------
"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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Offlineart
Stranger
Registered: 06/15/05
Posts: 331
Last seen: 14 years, 4 months
Re: Currency Collapse [Re: Icelander]
    #7922148 - 01/23/08 10:03 PM (16 years, 9 days ago)

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.:shrug:





That is exactly what I am trying to say.


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OfflineScavengerType
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Registered: 01/24/08
Posts: 5,784
Loc: The North
Last seen: 10 years, 3 months
Re: Currency Collapse [Re: art]
    #7943762 - 01/28/08 01:52 AM (16 years, 5 days ago)

The biggest danger of recession actually has to do with foreign holdings. The majority of US dollars are held in foreign banks and never make it back to the US, and additionally OPEC does all it's oil trading in USD. There was a major market disaster in the Us last year and it was a blip in the economic radar. Since many foreign banks usually have a lot of USDs (usually to deflate their currency for trade purposes ie. China) they have a substantial amount to loose by bailing on the USD. But the lack of respect for the international community has led a lot of investment to go elsewhere and impacted the dollar since around 2003 (arround the same time as the rise of the euro, a dangerous mix). For this reason I think USD should rebound after bush is gone, but not fully. I mean the republicans mostly look unelectable so likely we'll see a dem in office lets hope they know something about economics.


--------------------
"Have you ever seen what happens when a grenade goes off in a school? Do you really know what you’re doing when you order shock and awe? Are you prepared to kneel beside a dying soldier and tell him why he went to Iraq, or why he went to any war?"
"The things that are done in the name of the shareholder are, to me, as terrifying as the things that are done—dare I say it—in the name of God. Montesquieu said, "There have never been so many civil wars as in the Kingdom of God." And I begin to feel that’s true. The shareholder is the excuse for everything."
- Author and former M6/M5 agent John le Carré on Democracy Now.
Conquer's Club


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