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Dollar collaspse will it happen?? will we have go back to gold and hard assets

Discussion in 'BlackHat Lounge' started by royce22, Oct 2, 2010.

  1. royce22

    royce22 Registered Member

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    Hey guys just quick thread that is serious. I have been doing alot of research on this topic Peter schiff and many other people and books saying the collapse of the dollar is coming soon We need be prepared and invest gold and other assets

    overseas possibly or metals. I hope this does not happen but the writing is on the wall. every week on yahoo news something bad about economy or dollar. As we have ridiculous about debt in trillions and gets worse everyday. As we print more dollars and keep losing value.

    This is extremely scary because if this happens and dollar is worth nothing people are gonna go crazy riots. and be too late invest in gold and other assets. china and japan will be the next superpower from what i hear.

    This could happen thats why its scary it happened to us long time ago in great depression. Also in many other countries. Were their currency fell and were no longer the superpower of the world.

    Dont believe me Google or youtube it I just don't if this will happen I hope it doesnt. I just wonder will we have move to other counties it might get so bad will we need gold and other assets to buy things as our currency? this could get very bad.

    I wonder what happens to the internet how will people pay each other with virtual gold excuse the dumb idea but Im not sure?

    this affects us cause we make money on internet. And our dollar and money is important cause that what were are her in this forum to do.

    So please any thoughts from someone who studied this with a honest opinion as I would like some other thoughts. So I can prepare my future for investing gold and other assets/
    press thanks if like this as well any reply will help me thanks everyone:)

    To much success:)
     
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  2. dotsrus

    dotsrus Newbie

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    If the US dollar ever collapsed so will the rest of the world's economy. We are the backbone of modern trade. Gold will be worthless, things will regress to ancient practices. Two thousand years ago pound for pound salt was worth more than gold. With the overabundance of human mouths to nourish expect that food prices will rise. A lustorous metal will become worth less than agrarian goods.

    Don't listen to Glenn Beck and his scam to get people to buy gold.
     
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    Last edited: Oct 2, 2010
  3. Hunwarrior

    Hunwarrior Jr. VIP Jr. VIP Premium Member

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    How could dollar collapse?

    Very low budget deficit...
    Very good import-export balance...
    Basically 0 personal debt level...

    ;)
     
  4. shadowfax

    shadowfax Power Member

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    Don't worry dude, it aint gonna happen.. There's no other currency that can replace dollar at a global level.. Euro showed some promise but after recession it is clear that it cannot match dollar.. China which has given big loans to US and whose economy depends on what US consumers buy from it has billions of dollars as reserve currency.

    So it aint gonna happen
     
  5. royce22

    royce22 Registered Member

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    But you dont think cause we keep printing money nothing bad will happen as we have great debt? will we need to use gold you think
     
  6. rebroker

    rebroker Junior Member

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    Who can really say? But, the dollar's fall is what is, and will continue to cause gold to rise!

    Everyone should have about 10% of their assets in gold.

    For one of the best gold nugget blogs, visit:

    xxx.california-gold-rush-miner dot us/california-gold-rush-miner/
     
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  7. LiamLC

    LiamLC Regular Member

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    that's a good idea.

    @OP
    I wouldn't worry about it. The dollar may decrease significantly over time (as it has, i.e. way back when, a nickle could by a hot dog) but it's not going to make any long lasting major drop.
     
  8. shadowfax

    shadowfax Power Member

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    That's a great strategy to protect your money. I remember one of my friend's uncle gave us advice to buy silver about 7 years back, he was a commodity trader and he told us that the price will jump very high in the near future. But we didn't buy as we didn't have money.. Since then silver prices have jumped more than 4 times .. if wishes were horses :(
     
  9. ExtraWinner

    ExtraWinner BANNED BANNED

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    Dollar colapse?

    Thats total nonsense, and here is 2 easy examples that you didnt think of that will explain why :

    -More than 75% (or at least 2000 Billion) of Chinese goverment reserves are in dollars, and as we know few weeks ago China outrun Japan as 2nd largest economy. If there will be major problems with Dollar they will just buy another 1000 billion to save their initial assets, to help dollar rise and and to stabilise markets.
    -Remember Marshall Plan? Well USA was smart enough to borrow their extra money to all the world since 50 years. Did the countries repay? EXACTLY. Now some sweet list :
    China
    Saudi Arabia
    India
    Nigeria
    Eastern Europe
    France
    Germany
    South Africa
    Russia
    Indonesia
    Philippines
    Kuwait
    Canada
    Whole South America

    This countries are build on US money. They can easily force any of the countries to repay its debts collapsing some remote economy, not theirs.


    Hope your understand now how silly your theory was.
    Is like believing that there will be no second dip recession in next 15 years....
     
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  10. bebescrew

    bebescrew Newbie

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    "I can tell you right now that there is going to be a crash of unprecedented proportions. A crash like we have never seen before in this country. The greatest shock of this decade is that more people are about to loose more money then at any time before in history, but the second greatest shock will be the incredible amount of money a relatively small group of people will make at the same time. You see, in periods of economic upheaval in periods of economic crisis, wealth is not destroyed, it is merely transferred." - Larry Bates

    There is nothing ?federal? about the Federal reserve, and there are no reserves, the very name is a deception to make Americans think that America?s central bank operates in the public interest, although it is really a private bank owned by private stockholders and operated purely for their private profit." - Bill Still

    The Money Masters - How International Bankers Gained Control of America

    hxxp://video[DOT]google[DOT]com/videoplay?docid=-515319560256183936#

    1933- FDR Ends the Gold Standard

    hxxp://www[DOT]youtube[DOT]com/watch?v=3_ex0sTsb_I
     
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  11. NotTheDude

    NotTheDude Regular Member

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    yeah - If you go to the library and look at the ads in Popular Science and Popular Mechanics mags from the 1980's - 90's all the way up until now, you will see the same fear-based marketing centering around the idea of "the collapse of the US Dollar" as if it was going to happen VERY soon (as in yesterday! if you are so lucky!)

    These ads are all paid for by companies that sold precious metals/collectible coins, for a premium over the spot value or the average collectible value (not judging though - very effective marketing!)

    It still is not a bad idea to collect a little junk silver - non-collectible U.S. Silver coins from 1963 and before for their melt/trading value, and if you really have some serious cash to stash, maybe 10-20% in gold.

    The guy that says things will get so bad that salt will be worth more than gold: That may be true, but based on history, gold and silver will still be trade-able as long as people are able to grow/farm/herd more food than their family needs.(it has to get beyond "MadMax-bad" before precious metals are not trade-able commodities - imagine taking 1000 head of cattle to market 100 miles away opposed to a single gold brick)
     
    Last edited: Oct 2, 2010
  12. Hunwarrior

    Hunwarrior Jr. VIP Jr. VIP Premium Member

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    Ok, to all who believes that the US economy is untouchable, search for BRIC at google ;)
     
  13. bebescrew

    bebescrew Newbie

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    Apparently, you did not watch the video at all. The video explains that the value of the dollar is worthless because government ended the gold standard.

     
  14. Nugget16

    Nugget16 Registered Member

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    I'm confused. The American debt is owed to China and Japan. China accounts for 867 billion dollars of the U.S. debt. About 21.9% of American debt is owed to China. Japan is the second country with 786 billion being owed to them. While Japan has a substantial debt independent of what America owes, China would actually have a significant surplus rather than a deficit "if the American debt was paid back."

    I think societies with developed economies are better aligned these days. Most wars tend to be with nations that are essentially just pillaged. The Chinese and Russian military are probably a small risk to America, but this is not a substantial one. I don't think America is in much trouble. The military is well funded. It's deeply rooted to the global economy. It would be beneficial to break the American economy and restructure the global marketplace. The reasons this will not happen are comparable to the bailout in America. The banking sector plays such a complex role within the economy that it is a substantially costly and risky project to hold it accountable for anything.

    Russia is probably the most significant threat to America, but the U.S. continues to let Russia do almost whatever it wants. Russia has a large stockpile of nuclear weapons. However, it has an impressive non-nuclear bomb as well. No real environmental damage so less reason to avoid using it. Considerably smaller blast radius though so it could only really hit specific targets and timing would be a factor.
     
  15. ChampGuy

    ChampGuy Junior Member

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    Do you buy the Silver online and have it shipped to you, or do you buy it locally? If you buy online, where do you buy?
     
  16. NotTheDude

    NotTheDude Regular Member

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    Apparently you are only basing you thoughts on a single video (and not much else...based on what you said last post and what you quoted of me)

    Way to research that history!

    The statement you made had NOTHING to do with what you quoted me as saying.
     
    Last edited: Oct 2, 2010
  17. Megalomaniac Midget

    Megalomaniac Midget Power Member Premium Member

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  18. bebescrew

    bebescrew Newbie

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    Does anyone know what NotTheDude is talking about?

     
    Last edited: Oct 2, 2010
  19. NotTheDude

    NotTheDude Regular Member

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    LOL - well SOMEbody has been having some fun(drunk? stoned? maybe both - which is fine by me) tonight:

    "Apparently, you did not watch the video at all. The video explains that the value of the dollar is worthless because government ended the gold standard.

    Quote:
    Originally Posted by NotTheDude
    The guy that says things will get so bad that salt will be worth more than gold: That may be true, but based on history, gold and silver will still be trade-able as long as people are able to grow/farm/herd more food than their family needs.(it has to get beyond "MadMax-bad" before precious metals are not trade-able commodities - imagine taking 1000 cattle to market 1000 miles away opposed to a single gold brick)"

    That post is what I was talking about.

    read my quote and what you said - your post had nothing to do with my quote.

    I agree with the fact that their is no gold backing of the U.S. Dollar(DUH) but what does your comment have anything to do with my quote?
     
  20. MisterGemini

    MisterGemini Senior Member

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    Wow... so much confusion in the convulsions. Currency disappearing? Not likely. Going back to precious metals, also unlikely.

    There is plenty of wing-nut conspiracy to go around about this, because when it comes to money, it is probably the top of everyones #1 worry list. What better thing to attack that has such a heavy psychological impact of pretty much every facet of daily life.

    Might I suggest, what we are witnessing is actually not the failing of currency, but the failing of a world that continues to maintain national boarders in a world that is pushing to live as one. Just stop and think about how things work in the Internet, and how this has pushed countries in every single aspect of their existence to practically dissolve trade boarders.

    The currencies of the world cannot handle the realities of today, and what will come in the not to distant future.

    The world leaders are not as stupid as you would like to make them out to be though. Last year, we had an interesting preview from the G8 Summit from Russias own President.

    [​IMG]

    Take a closer look at what he is holding:

    [​IMG]

    (the story when this broke out can be found here: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aeFVNYQpByU4)

    What you are looking at is a world currency that all the world leaders are looking at. One single currency through which we can buy and sell. Now if this doesn't make you pee your pants with excitement, I dunno what will. The potentials this brings on in terms of making your life easier are not only great, but it means an end to being nickled and dimed by 'currency conversion' which I know myself costs me thousands every year for what? Absolutely nothing.

    Of course I am just stating some of the simple and relateably obvious benefits, but the impact this would have would be far reaching.

    I think precious metals are a good investment. I think you are ok to save your dollars for another day too. Pay attention to those that would sell you fear. They got something to gain from you buying their story.

    Either way, I see everything going on as just the birth pains of an emerging new standard. The powers that be do everything they can to resist it, but this new born world is past due, and ain't gonna wait any longer. You can push, or scream resisting. :)

    Mister Gemini
     
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    Last edited: Oct 2, 2010