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Will the Dollar Collapse Soon?

Discussion in 'BlackHat Lounge' started by PowerToTHePeople, Apr 26, 2011.

  1. PowerToTHePeople

    PowerToTHePeople Junior Member

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    As an internet marketer from Europe and getting most of my money in dollars im kinda worried with the current situation of the dollar value in comparision with the euro...i dont know when its going to crash but it doesnt look well, its been falling every single week; does this worry you? in a possible scenario where the dollar becomes garbage whats next for us internet marketers?
     
  2. Patel

    Patel Senior Member

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    It will, so many countries are dropping it already.

    It is imminent.
     
  3. GrizzlyAdams

    GrizzlyAdams Regular Member

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    it already has. shit.
     
  4. sargerevenge

    sargerevenge Newbie

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    It's a matter of when not if that it will crash but i would say it would be several years before we see this happen. Washington has a way of putting band aids on flesh wounds they will milk things for as long as they can before the inevitable happens. I think it's happened twice in our history and in most countries economies.
     
  5. machine1376

    machine1376 Newbie

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    all I know is right now silver has a stronger market value than the dollar. I have a friend who is a very wealthy investor and he says the money men are getting nervous. So to answer your question, yes. Unless our congress suddenly gets a respectable IQ and stops relying on the federal reserve to release more money which causes a direct failure to the buying power of the dollar. It's like a rare coin, the more coins in circulation, the less the value. Hell if an idiot like me can figure that out, shouldn't they?
     
  6. Chronos

    Chronos Junior Member

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    Quantitative easing is whats going to fuck over the dollar.

    What seems to be fueling the economy now, is what's going to make the dollar collapse.

    When it goes under, and economists are blaming it on "Quantitative Easing," remember you heard it from me first.
     
  7. Autumn

    Autumn Elite Member

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    Yep, it's already happening. We are seeing the beginning of the end here... We're just at the top of the slope now, and it's going to get much worse. Personally I've lost about 8% of my income through the exchange rate in the last 2 weeks.

    It really sucks as marketers because the internet will be one of the last industries that goes off the dollar IMHO.
     
  8. efwebs

    efwebs Regular Member

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    it has a LONG way to go before it "crashes"

    It may continue to slide though....that is realistic.
     
  9. DebtFreeMe

    DebtFreeMe Regular Member

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    You know that QE3 is just around the corner, its already being discussed . I find it sadly entertaining that 6.5% more US currency has come into existence, while the stock market has gone up 6%. Which means overall there has been a loss of .5% for those that are investing in the stock market, but all the media talks about is the rise in the stock market...

    Too bad the US dollar isn't backed by gold anymore...
     
  10. bibirisca

    bibirisca Junior Member

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    In my case this is good news as I'm doing imports paying in USD.
    I remember 3 years ago 1 EUR = 1,70 USD.

    Now 1 EUR = 1,45 USD so I think the situation is not so bad for the USD yet.
     
  11. MrSmith

    MrSmith Newbie

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    It's because the Feds keep printing money. Who's winning the money race? The US is.

    You dont see the EMC printing money like the Feds are lol
     
  12. tshin810

    tshin810 Junior Member

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    Few weird phenomenon in US economy system:
    - Federal Reserve System does not belong to Federal/government.
    - Government cannot print money
    - FRS can print money out of no where without backed by gold or silver.
     
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  13. character

    character Regular Member

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    [​IMG]

    what does this tell you? LOL
     
  14. zmoney

    zmoney Senior Member

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    Yup! I love these nice little terms they give these things...

    And yeah, The federal reserve is just a name, no association with Govt(that we know of)... Most people don't know that.. Sooo BH..

    ~Z.
     
  15. BlackSeng

    BlackSeng Jr. VIP Jr. VIP

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    I remember being told somewhere that US$1 now is only equivalent to $0.01 or less than a penny. It's a youtube video if I remember correctly. It explained that the cause was because the currency isn't back by Gold anymore.

    Also, 2-3 weeks back I read a news from MSNBC that China has dumped about $500 BILLION of US securities. So be prepared to see the currency drop even further.

    What's more saddening is this...
    I live in Singapore as some of you may remember.
    Few years back, or rather 5-6 years ago, the rate was:
    US$1 = S$1.70

    It was like HEAVEN back then!
    Then when I entered IM (which is about 3 years ago), the rate dropped to:
    US$1 = S$1.55

    But hey, it's ok since I'm getting 50% more!
    Then a year later, it was:
    US$1 = S$1.45

    I remember I was ranting the whole day EVERYWHERE about my concern with the weaking US dollar.

    Then this week, it has hit a new low:
    US$1 = S$1.237


    HOLY CRAP!
    It's declining in an exponential way!

    6 Years Ago - S$1.70
    3 Years Later - S$1.55
    About 1 Year Later - $1.45
    Now - S$1.237

    I believe it will drop to S$1.10 by next year or even before the end of this year.
    ESPECIALLY after those bond agencies are planning to downgrade US securities.
     
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    Last edited: Apr 26, 2011
  16. zmoney

    zmoney Senior Member

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    Dollar hasn't been backed by gold since what, the 60's....
     
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  17. Autumn

    Autumn Elite Member

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    Yep it is pretty much exactly the same with the NZD. I feel like cutting my wrists every time I look at the exchange rate. Sort your shit out Americans! :banghead:
     
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  18. Supernoob

    Supernoob Regular Member

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    If I compare from an order about a year ago and now its lost like 10% or something >.< what will we do?!
     
  19. GrizzlyAdams

    GrizzlyAdams Regular Member

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    i wonder if you could sell all your shit to them for a profit then buy more of it
     
  20. Patel

    Patel Senior Member

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    You may be able to do that, but you would have to find a gold distributor that charges less than $35 surplus.

    APMEX adds over $700 per ounce if you buy it via credit card..