The demise of the dollar!
Moderators: Tunnelcat, Jeff250
The demise of the dollar!
Ya know it's the truth, admit it!
It's never good to wake up in the shrubs naked, you either got way too drunk, or your azz is a werewolf.
First off you can put your money in what ever currency you want anywhere in the world. That's up to you. Read up on the Japanese housewives. 
Sorry Glenn: The US dollar was 70% of the world currency in 2008. Something bigger (or lots of little things) than oil has to go as well. The oil market needs the dollar because the AmericaS use the dollar and oil more than the rest of the world. Being consuming pigs is what's protecting us from everyone dropping the dollar when it comes to OIL.
Here ya go Glenny: Now the foreigners savings... they change currencies constantly trying to make a profit and stay on top. This is where people will get rid of their USD. And it won't be a scheme thought up by a few evil doers. It will be some guy*50,000 reading a newspaper and loosing faith in the currency his money is in.
Comparing USA to Russia is tough since the global market really opened up in the late 80. Computers have changed the way markers work so much comparing the old \"models\" with the new is almost pointless.
It's not our president who has no idea what's going on, it's everyone. No one's been here before. The national debt has brought in many investors who all want us to succeed. So you can't just call it a bad thing. The dollar devaluing is bad but our services are cheaper, and that's good for some business outsourcing over seas. It's all a big tangled web.
Sorry Glenn: The US dollar was 70% of the world currency in 2008. Something bigger (or lots of little things) than oil has to go as well. The oil market needs the dollar because the AmericaS use the dollar and oil more than the rest of the world. Being consuming pigs is what's protecting us from everyone dropping the dollar when it comes to OIL.
Here ya go Glenny: Now the foreigners savings... they change currencies constantly trying to make a profit and stay on top. This is where people will get rid of their USD. And it won't be a scheme thought up by a few evil doers. It will be some guy*50,000 reading a newspaper and loosing faith in the currency his money is in.
Comparing USA to Russia is tough since the global market really opened up in the late 80. Computers have changed the way markers work so much comparing the old \"models\" with the new is almost pointless.
It's not our president who has no idea what's going on, it's everyone. No one's been here before. The national debt has brought in many investors who all want us to succeed. So you can't just call it a bad thing. The dollar devaluing is bad but our services are cheaper, and that's good for some business outsourcing over seas. It's all a big tangled web.
Re:
Isaac, you need a clue. Maybe if you read more, or perhaps you are beaten with a "Get Smart" stick, you will think for yourself.Isaac wrote:First off you can put your money in what ever currency you want anywhere in the world. That's up to you. Read up on the Japanese housewives.
The US dollar was 70% of the world currency in 2008. The oil market needs the dollar because the AmericaS use the dollar and oil more than the rest of the world. Being consuming pigs is what's protecting us from everyone dropping the dollar when it comes to OIL.
Now the foreigners savings... they change currencies constantly trying to make a profit and stay on top. This is where people will get rid of their USD. And it won't be a scheme thought up by a few evil doers. It will be some guy*50,000 reading a newspaper and loosing faith in the currency his money is in.
Comparing USA to Russia is tough since the global market really opened up in the late 80. Computers have changed the way markers work so much comparing the old "models" with the new is almost pointless.
It's not our president who has no idea what's going on, it's everyone. No one's been here before. The national debt has brought in many investors who all want us to succeed. So you can't just call it a bad thing. The dollar devaluing is bad but our services are cheaper, and that's good for some business outsourcing over seas. It's all a big tangled web.
Since you DON'T know I'll tell you. Since Oil has been a commodity it's been traded via the dollar.
Now, it's under question as to what currency oil will be traded with in the NEAR future.
A "basket" of currencies.aljazeera wrote:Gulf states have held secret talks with Russia, China, Japan and France to replace the US dollar with a basket of currencies in the trade of oil, the UK's Independent newspaper says.
Why are they holding "secret" talks you might ask. Could it be that the dollar is about to tank?
Read up. Become informed. Question BOLDLY!
It's never good to wake up in the shrubs naked, you either got way too drunk, or your azz is a werewolf.
If people are talking about dropping the dollar it's not a gulf state meeting I'm worried about. It's the people not buying securitized debt from Americans that will kill us(edit: US economy). It's big businesses leaving the us because of taxes that will bring upon Glenny's vision. I'm saying Glenno is wrongo, in that youtube clip. And I am a smart stick. 
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*Changes entire life course with big dreams of the future*Gooberman wrote:Once again proving that the most successful path for any music DJ is to.........start talking about politics and the economy.
And I'm sure I'll be explaining it with sweeping arm gestures and the like. Yep, the future has never been so clear! *looks skyward*
Amg! It's on every post and it WON'T GO AWAY!!
from http://www.project-syndicate.org/commentary/rogoff61
Any real change in the near term must come from China, which increasingly has the most to lose from a dollar debacle. So far, China has looked to external markets so that exporters can achieve the economies of scale needed to improve quality and move up the value chain. But there is no reason in principle that Chinese planners cannot follow the same model in reorienting the economy to a more domestic-demand-led growth strategy.
Yes, China needs to strengthen its social safety net and to deepen domestic capital markets before consumption can take off. But, with consumption accounting for 35% of national income (compared to 70% in the US!), there is vast room to grow.
Chinese leaders clearly realize that their hoard of T-Bills is a problem. Otherwise, they would not be calling so publicly for the International Monetary Fund to advance an alternative to the dollar as a global currency.
They are right to worry. A dollar crisis is not around the corner, but it is certainly a huge risk over the next five to 10 years. China does not want to be left holding a $4 trillion bag when it happens.
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Nope.AlphaDoG wrote:A "basket" of currencies.aljazeera wrote:Gulf states have held secret talks with Russia, China, Japan and France to replace the US dollar with a basket of currencies in the trade of oil, the UK's Independent newspaper says.
Why are they holding "secret" talks you might ask. Could it be that the dollar is about to tank?
Read up. Become informed. Question BOLDLY!
China has a stockpile of US dollars large enough to make the dollar tank whenever they feel like it. If they're looking at trading in alternative currencies it won't be a reaction to a change, it'll be the cause of it.