Demise of the dollar? (Page 2)

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2009-10-08 7:56 PM
in reply to: #2445646

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Champion
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Subject: RE: Demise of the dollar?
Looks like someone may have been playing a financial reporter to make a killing in gold.

http://news.yahoo.com/s/politico/20091008/pl_politico/28091

2009-10-08 8:34 PM
in reply to: #2445646

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Subject: RE: Demise of the dollar?

I could go into the whole dollar falling out of favor issue but it has already been touched on.

I can see China wanting to see the dollar fall out of favor as it holds so much of our paper. It seems pretty much like a paper tiger threat.

Though America does need to take it's debt seriously.

2009-10-08 8:45 PM
in reply to: #2448305

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Subject: RE: Demise of the dollar?
Indiana_Geoff - 2009-10-07 4:58 PM It won't work.  Who would trust a new currency unless they controlled it?  Who would trust a currency controlled by Oil Shieks, Russia and China?


Are you being serious?  So what makes you think anyone should trust the U.S.? It would be controlled by the IMF anyway. 
2009-10-08 8:49 PM
in reply to: #2450766

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Subject: RE: Demise of the dollar?
marmadaddy - 2009-10-08 8:56 PM Looks like someone may have been playing a financial reporter to make a killing in gold.

http://news.yahoo.com/s/politico/20091008/pl_politico/28091[/QU... />
Not really man.  Like I already posted, this discussion has been nothing new so I don't know why anyone would have written that there have been "secret meetings."  Fact is, it is well documented that the world has had had these discussions.  I already provided the links. 
2009-10-08 9:41 PM
in reply to: #2450837

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Subject: RE: Demise of the dollar?
Pector55 - 2009-10-08 8:45 PM
Indiana_Geoff - 2009-10-07 4:58 PM It won't work.  Who would trust a new currency unless they controlled it?  Who would trust a currency controlled by Oil Shieks, Russia and China?


Are you being serious?  So what makes you think anyone should trust the U.S.? It would be controlled by the IMF anyway. 


History. Over a hundred years of open currency trading,
zero chance of being invaded and defeated,
zero chance of a crippling internal revolution,
paying the payments without fail,
not over inflating the currency,
a large enough economy that trading in our currency won't overwhelm it,
steady economic growth,
large store of physical value (land, resources, physical assets),
and our currency just looks kewl (ok, that's not true).
2009-10-08 10:08 PM
in reply to: #2450921

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Subject: RE: Demise of the dollar?
Indiana_Geoff - 2009-10-08 10:41 PM
Pector55 - 2009-10-08 8:45 PM
Indiana_Geoff - 2009-10-07 4:58 PM It won't work.  Who would trust a new currency unless they controlled it?  Who would trust a currency controlled by Oil Shieks, Russia and China?


Are you being serious?  So what makes you think anyone should trust the U.S.? It would be controlled by the IMF anyway. 


History. Over a hundred years of open currency trading,
zero chance of being invaded and defeated,
zero chance of a crippling internal revolution,
paying the payments without fail,
not over inflating the currency,
a large enough economy that trading in our currency won't overwhelm it,
steady economic growth,
large store of physical value (land, resources, physical assets),
and our currency just looks kewl (ok, that's not true).


You forgot a few:

Completely insolvent
Unsustainable entitlement programs
No chance in hell at digging out of further debt
Unsustainable trade deficit

I hate to be so negative but I don't see any faith in the dollar and neither do world leaders.  I wish I were as confident in the dollar as you but I'm watching countries go into talks of trading in local currencies for the first time in my lifetime. 



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