The end of the US dollar as the world reserve currency is upon us......

[WV6Z]

Interesting reading -
http://www.stansberryresearch.com

Interesting viewing -
http://www.stansberryresearch.com/pro/1011PSIENDVD/6PSIM300/PR

[KA5PIU]

Hello.

That has been posted before.
The Stansberry research is clearly an opinion piece.

[PA5COR]

There are certainly big financial problems in the USA ( and UK and other European countries).
If the Republican/teabaggers succede in shutting down government and put a strangelhold on the economy and banks annd Wall Street are not better regulated, it might happen.
Already the banks/Wall Street are back to their old tricks to maximise their bonusses by hyped up banking, the same that brought us crisis part 1.

Difference is that the Euro is stronger now, here banks and Financial institues now get regulated.

The crisis part 2 would be a bad one, and if the Dollar loses it's world currency status it would indeed be very bad.
It would involve all parts of the world, so better hope that won't happen...

[ka8ncr]

It's already happened. Too many years of managing debt by inflation of the currency has pissed off foreigners, so they have been seeking alternatives for years. If that were not the case, there would not be the call for a global foreign currency exchange.

The real pain will be the double-whammy of buying oil at the market price post speculation with dollars converted into something else, both ends of that equation done post Forex! Think oil is expensive now...

The fact that it can change means that after a while, it can change back to the dollar in better times.

[WV6Z]

Cor I know things got very bad indeed back home in the UK during the late 60's through the mid 70's as the global currency shifted from UK pounds sterling to the US dollar. Now that the US is quite possibly indebted to the world to such a magnitude that hope of that changing is unlikely, as more US dollars keep getting printed with nothing to back it up, I really don't see how the global currency will not soon shift to the Chinese Yuan, or, to a 'new' currency based on the Yuan, Japanese Yen and or maybe even a common currency to be shared regionally in the oil producing nations in the middle east, thrown in for good measure.

Like it or not, those that have and control the money and precious metals that monetary systems are based upon are the ones that control and have the power. So, IMHO, a shift in those that pull the strings, control the global economy and dictate 'law' is imminent. My main fear is that it will not be a gradual decline, as the world no longer seems to tolerate such, but an overnight catastrophe, much like a dam bursting, pretty much as it happened in Yugoslavia, where 100% daily increases in the prices for the very most basic staples (food, fuel and clothing) will not be uncommon and should be expected.

The only thing that we can control, potentially, as citizens in the US, is how we prepare now both individually and as a nation to try to care for ourselves, our families and each other. What we do now will set what the outcomes severity will be. The main issue is that there are so very few people left who survived the Great Depression that, as we can't seem to learn from our mistakes..... EVER........ there aren't nearly enough of those folks left with experience in such times to help 'teach' us how to get through and survive, if possible, that which is already set in motion.

[PA5COR]

Thomas,

Live without a loan, we do, no debt, and some 5K Euros as spare ( If something happens) money to get by in the first time.
The UK is in a worse shape as the rest of the Eu, having followed the US economical path and political path, leading to massive overspending military and their former left wing Government mistakes.
The current right wing Government is not much better, they come with austerity measures, but don't attack the real problems causing the debt... like the USA does the same mistake...

Will the Dollar fall as reserve money? too much interests at stake now, but if the next economic crisis comes from the USA it will fall.
People/Governments are fed up with the USA caused crisis's, remember the .com? now the housing and financing crisis, and the signs are already out the next one is in the making.
The EU already took steps to reign in the power of the banks, and forced strict control.

Like the UK did in the 60's and then lost the pound as reserve currency in the first half of the last century, the US too much relied upon their might as economic power, and lost it in the last 30 years, being overshadowed by the EU and China as economic power houses.

Even though the Euro was created just a few years ago, it already has claimed spot number two as a world reserve currency. Before the Euro creation the German Mark was number two reserve currency in the world.
Since the Euro was created there is a slow shift from US dollars to Euros in the foreign reserves held around the world. If this trend continues the Euro can become number one reserve currency. Around 25% of the world's foreign reserves are held in Euros.
Even now the Euro made a come back from the crisis back to 1.40 Dollars for the Euro.
There has never been a country with so much debt that had the reserve currency...

Personally i hope it will not happen, it will be very bad for the USA people, and the effects for all of us will be grave.
Of course, if you are rich, you will have no problems.

[WV6Z]

I just wish we would (our government would admit) that there is a real problem, where we are now financially is unacceptable and that we must, both the government and the people, tighten our belts and shoot for the elimination of debt. Hiding it, pretending it doesn't exist and doing nothing about it scares me more than anything.

The rich will suffer, the middle class will pay for the biggest bulk of our problem and the currently impoverished? That will be the worst of it all. I hate to even think about it.

[kc7jty]

Interesting reading -
http://www.stansberryresearch.com

Interesting viewing -
http://www.stansberryresearch.com/pro/1011PSIENDVD/6PSIM300/PR

Sorry Tommy but I think these links are as relevant to the US dollar as would be a link to an anal sex site.
Worse than used car salesman tactics.

[WV6Z]

I never suggested purchasing their stuff, just posted it in the event that it might, for some strange reason, make somebody think.

The same tactics are used by those who flog lottery number generators and the like.

[kc7jty]

I just wish we would (our government would admit) that there is a real problem, where we are now financially is unacceptable and that we must, both the government and the people, tighten our belts and shoot for the elimination of debt. Hiding it, pretending it doesn't exist and doing nothing about it scares me more than anything.

The rich will suffer, the middle class will pay for the biggest bulk of our problem and the currently impoverished? That will be the worst of it all. I hate to even think about it.
are you serious!? There are those who are STILL sucking hundreds of billions of dollars out of our system who don't give a f*uc about the county let alone you or I. Just like a spider that binds it's victim then sucks out the juices, there's more loot to be pilfered.

[W2NAP]

let it all crash see if i care. i got nothing anyway

[W4RLR]

Sorry Tommy but I think these links are as relevant to the US dollar as would be a link to an anal sex site.
Worse than used car salesman tactics.Bill, are you an expert on anal sex sites? It must get lonely there on the plains...

[kc7jty]

open season?

[W1GUH]

I just wish we would (our government would admit) that there is a real problem, where we are now financially is unacceptable and that we must, both the government and the people, tighten our belts and shoot for the elimination of debt. Hiding it, pretending it doesn't exist and doing nothing about it scares me more than anything.

The rich will suffer, the middle class will pay for the biggest bulk of our problem and the currently impoverished? That will be the worst of it all. I hate to even think about it.

Not to mention the conflicts it's going to cause.

[X-Rated]

open season?

He does seem to know a lot about sheep as well.

[WV6Z]

He does seem to know a lot about sheep as well.

Now you're confusing Bill for me!

[X-Rated]

Now you're confusing Bill for me!

The last I knew, you couldn't pick a pretty one if the whole lot was hawt.

[kc7jty]

He does seem to know a lot about sheep as well.
carnal knowledge?

[X-Rated]

carnal knowledge?

What other kind of knowledge is there?