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Posted on 10/06/2009 7:32:36 AM PDT by NYer
Just sat down to my computer, looked at the charts for Gold and Silver this morning, and the first thought in my mind about what I saw was “Death of the Dollar”.
Spot gold is spiking steeply today, already at $1040.
Who would ever dream of making a South American country a loan denominated in their own currency? We are approaching that point? I expect that before the end of Obama's (hopefully single) term, we will likewise have to borrow in Euros, Yen or some international basket of currencies instead of dollars.
The US is definitely going down. I have NO doubt.
However, the rest of the world will be right behind us. And that is the dirty little secret that the other nations all know.
If someone owes you money, you don’t want him to lose his job.
“Consequently, there will probably be a Thelma and Louise moment for the U.S. dollar in the not-too-distant future.”
I always thought that ending was a waste of a really cool car, LOL! I mean, they could’ve just flung themselves over the cliff!
Anyhow, just be prepared for anything. It’s going to get ugly. I don’t know of a single thing that can stop this downward spiral we are in, and we will drag the rest of the world down with us.
(Well, I KNOW what would stop it, but we won’t get it from this administration. Destruction of the economy and our way of life are ‘reparations’ long over due in their twisted little pea-brains.)
Didn't the Arabs start this yesterday?
uplift ping.
I am no expert in U.S. and international finance, so I am I nuts by thinking: screw the rest of the world. The U.S. has sufficient natural resources, workforce, and consumption to maintain its own economy. Why do we need to rely on the rest of the world so much? Plus, I am sure we can work with Canada and/or Mexico to some degree if needed.
Just a thought if things “go south”...it may actually be a good thing if we can use it to peel ourselves away from the global powers that be.
Agreed. I’ve made that similar post many times here. :)
Sure we can. The rich folks just won’t get to make as much money as they are now. So it probably won’t happen.
parsy, the glum
Because of America's high taxes, America's minimum wage laws and America's ludicrous environmental regulations.
Also its crushing import/export bureaucratic burden, its crushingly complex tax system and its byzantine legal system.
Also: America owns the world strategic reserve of a) lawyers and b) people who are owed a living by Whitey.
What did I miss?
>>If someone owes you money,
>>you don’t want him to lose his job.
Unless you want to own his house, and his children...
“COMMERCE BETWEEN THE MASTER AND SLAVE IS DESPOTISM”
—Thomas Jefferson
Are we there yet?
My comment assumes that - should things “go south” - we would take care of the issues you mention (the lawyer issue would probably be the most difficult IMO - for a variety of reasons).
Not saying this would happen, but it would provide the opportunity to, in effect, start over.
Our defense budget, which exceeds the rest of the world's, combined.
Obama, the president who brought slavery BACK to the USA.
Agreed.
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