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Does the economy/US dollar collapsing scare you as much as it scares me??!?

Discussion in 'BlackHat Lounge' started by hellohellosharp, Dec 8, 2011.

  1. hellohellosharp

    hellohellosharp Power Member

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    I'm a teenager and I barely know anything about economics...

    Still, the idea of hyper-inflation and the US dollar becoming worth nothing scares the crap out of me. What if I work hard and become a millionaire but its worth nothing?!? What if all the money I have saved for college right now becomes worth nothing?

    Idk about you guys, but it really scares me. People tell me to keep working and stay focused and not worry about it, but it still worries me lol. What do you guys think?
     
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  2. jacobs

    jacobs Power Member

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    Listen to them people, they're right.
     
  3. hellohellosharp

    hellohellosharp Power Member

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    But what if it all collapses...? The cash in my bank is losing value as we speak...
     
  4. ilanru

    ilanru BANNED BANNED

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  5. hellohellosharp

    hellohellosharp Power Member

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    Lol that's exactly how i feel everytime i think about it
     
  6. mic141414

    mic141414 Regular Member

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    i disagree
    things won't get better ... social unrest will spread ...
    i am not talking end of world and BS like that
    but look at the situation in Europe bad and getting worse
    here same, not good ..more and more people have no job lose their home and more and more on food stamps
    HOW long do you think that will continue without a social explosion ?

    i listen and read a guy named gerald celente ... a trend forecaster ..has been right on social unrest in the middle east etc... he is working on facts ..not the mayan calendar :) check him out



     
  7. jacobs

    jacobs Power Member

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    You know what? you're right! you should withdraw your money and spend them now while they have the value.

    Brb going to the atm machine right now.
     
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  8. hellohellosharp

    hellohellosharp Power Member

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    What's the best thing to do then...?

    Invest? In what...? Gold?
     
  9. axus_auto

    axus_auto Power Member

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    It scares me too. This is why I stopped working altogether.
     
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  10. mic141414

    mic141414 Regular Member

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    silver and gold are supposed to be good .. NOT TO INVEST but for wealth protection
     
  11. keinehabe

    keinehabe Supreme Member

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    there is not a such thing like economy collapse ... well at least not for american dollar lol . Maybe works on Zimbabwe or another tinny / worthless region|country , but for US dollar will be just a normal inflation . See ... in economy we know this historical scale ( a figure of speech ofc ... ) things going up / then stay at some level / then going bit down / then going up again ... it's a life cycle if you wanna call like this .
    Apart of all those technical stuffs ( witch btw are quite boring to talk about them ) , you don't have to be afraid about worth value of the moneys . Moneys from the banks actually they don't exist '' per se '' , they/the bills are issued by the government in exchange of the worth value from gold reserve . OFC the american gold reserve is secure and none have doubts about this , but the money from real economy in states are much over-saturated , US is using more money than they actually have . Until this will '' stop '' / redesign there will be always this '' troubles '' . It's quite hard to explain how this things works actually but for normal peoples this is seen like '' you have one dollar / you can't buy this shit | you have one dollar - you need to have one more to buy this shit ....'' hope this makes sense for you ...
    You said you saved some moneys for college ( witch is good thing btw ) but , if you keep this moneys in cash in house their value is normal to depreciate , it's like apples you know over the time they aren't good to eat ... or not so good like they used to be when they was fresh .
    Moneys aren't losing '' their power '' it's losing the value worth on gold actually . You must understand how the economics works in order to make sense of how the moneys move in economy after all ...
    What happens now not only on US - worldwide - it's direct result of using more money than actually peoples used to have , because banks worldwide used to give peoples money with no real backup of their founds ... The US dollar can't collapse just like this , if is collapsing then whole world can flush on the toilette their economy's since money worldwide will have virtually no value without the US dollars .
     
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  12. jimmytalibs

    jimmytalibs Junior Member

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    United States Dollar is there because Governments met some years before and chose Dollar and Pound to be world's largest currencies that will make transactions and economies integrate easily. So COUNTRIES worry about a dollar or a pound losing it's value, and that's why there is FOREX where people take speculating these currencies at the same time stabilizing them.

    A strong economy like of the United States cannot collapse in One day, building it was hard enough to perish in a second. Economies like of China, and European Union have a mutual benefit with American's economy and if dollar collapses over a year then these economies will dissolve as well.

    No need to worry as, you will see it coming and it will take years, like three to five for an economy to collapse. (by the way, there is a small crisis as we speak in Europe especially Italy where most online transactions are being blocked)
     
  13. Monrox

    Monrox Power Member

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    Such a crash won't come without warnings. The Euro is a lot weaker because the majority of the coutnries using it are more indebted than the USA (ratio govt debt : GDP). For example America only owes the equivalent of ~half its GDP. Germany owes 83% and is still going pretty strong (it can take 10 year loans at 2% interest). Japan owes 198%...

    So there are several currencies to collapse before the USD and when that starts to happen you should keep the gold you bought ( :D ) and just breathe slowly.

    Of course some people may think that according to the above facts China should be very very well off (19% debt ratio) but in reality they have a much smaller GDP. To put things in perspective: China's GDP is ~6 trillion, Japan's GDP is ~6 Trillion as well. But Japan's population is ten times smaller than China's.

    Now a small GDP is a very bad thing in the sense that you must rely on exports to make ends meet. But the countries you export to can simply impose customs duty on your goods like USA did to Japanese car manifacturers.

    -----------------------------------
    ADDENDUM:
    BTW, this is the reason why so many countries are owning money to China. The Chinese government is allowing others to purchase on credit but this is bad for the producers as they can't expand because they don't see any money coming in. They only see promisory notes / IOUs. This means they can't increase their workers' wages, these workers don't get more money to spend at other businesses -> other businesses remain weak and are not paying much taxes -> low GDP.
     
    Last edited: Dec 8, 2011
  14. Autumn

    Autumn Elite Member

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    The only reason the USD hasn't collapsed before now is that it's the reserve currency for the global oil trade. Everyone already knows that America can't pay its debts, but the money-go-round will be drawn out as long as possible because the alternative is a MASSIVE correction and global economic upheaval. The USD won't "collapse" per se but the US will try to (hyper)inflate their way out of their national debt until the currency is worthless.

    Already there are strong moves in the international (ie. oil trading) community to drop the USD as the reserve currency of world trade. Most people don't know that Libya was about to introduce a new currency backed by gold for oil trade amongst the gulf states... Hence immediate invasion and regime change. The people who don't think Zimbabwe-style inflation in the US is a possibility are ignoring the obvious fact that the US is already largely bankrupt, and that once oil is traded globally in other currencies, no one is going to want those worthless dollars anymore.

    The imminent demise of the Euro is also one of the only things keeping the USD afloat, because there isn't an alternative reserve currency we could use. Eventually China will depeg their currency from it's artificially low tether to the USD and the USD will hyperinflate into worthlessness. That will be the end of the empire and the final shift of power from West to East, but Amerikkka won't go down quietly: you can expect war as a last ditch attempt to maintain their global hegemony.

    If you want to protect your wealth: get rid of ALL your debt, buy land, buy gold and precious metals, buy commodities, buy international value stocks or dividend stocks - anything that won't devalue to zero. US or Euro currency is the WORST thing you could possibly be holding. We are at the end of this current iteration of fiat currency and in the next decade or so it's going to get SUPER rough. Get prepared.
     
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    Last edited: Dec 8, 2011
  15. emailbuyer4good

    emailbuyer4good Regular Member

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    I have 80% of my money in silver. For just this reason.. :rolleyes:
    btw the other 20% is in gold.. I do not trust the US dollar as there is nothing to back it. They can print as much as they want:eek: + we owe 15 trillion $$ in debt:eek:... I can sleep @ night now... (silver and Gold are the way to go...):D
     
  16. mmur12398

    mmur12398 Junior Member

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    The problem with most of this thinking is that while all the talk is of countries trying to move away from the $, they will never be able to because the US has the single largest consumption rate of foreign goods of any country on Earth. If the $ fails/collapses then countries like China, Russia and all of Europe will descend into the 10th level of hell and another World War will break out.

    There are going to be some severe belt tightening but if the rest of the world wants to stay afloat, then it is in their best interests to keep this consumer juggernaut called America going. If not, well, what will come will make all the economic failures in all of history, combined, look like the best of times because, mark my words, no markets for those cheap goods means collapse of those governments making billions off the American consumer.
     
  17. zmoney

    zmoney Senior Member

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    Cough TARP.

    The Fed Reserve now owns more than china does. Not good.
     
  18. allinet

    allinet Registered Member

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    Buy Au, Ag and Pb. Start storing food and devise a water filtration system.
     
  19. DigiWebUk

    DigiWebUk Regular Member

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    if your that worried, send your money to the following address:

    Mr Mugabe (your long long long long long long long lost grandad)
    56 Zimbabwe road,
    zimbabwe,


    I accept all payments via western union...

    We do not scam ........ "honest"


    :p
     
  20. hellohellosharp

    hellohellosharp Power Member

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    Lol anyone wanna explain what the whole Zimbabe thing is? Idk economics...