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Is the Dollar Going to Collapse?
Human Events | 10/09/2009 | Mark Skousen

Posted on 10/10/2009 8:02:36 AM PDT by ChessExpert

Rumors are flying that secret meetings are taking place between Arab states, China, Russia, Japan and France, to dump the dollar and replace the U.S. currency’s role in the pricing of oil. The dollar fell against the euro, yen and Swiss franc, while gold hit new highs of $1,041 an ounce.

Is there any truth to the rumors that the dollar is being replaced by a basket of foreign currencies, and what will be the impact your investments and the U.S. economy?


TOPICS: Business/Economy; Front Page News; Government
KEYWORDS: commodities; currency; dollar; economy; globaleconomy; gold; missinglink; third100days
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Mark Skousen is a well-rounded economist and a stock market investor. He is politically conservative, and has been recommended by Ann Coulter. He keeps his head, when others are losing theirs.

I think the article is a balanced analysis of this moment in time. I am more worried about the future than Mark Skousen is, or lets on to being, in this article.

1 posted on 10/10/2009 8:02:36 AM PDT by ChessExpert
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To: ChessExpert

You omitted the link to the story.


2 posted on 10/10/2009 8:04:17 AM PDT by Canedawg (FUBO)
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To: ChessExpert

There was a story last week about a 450 billion dollar exchange of some currency last week that was STOPPED before it could go to several trillion.

That sounds to me like a deliberate act of War.

Who did it? Why wasn’t this all over the news? It could have crippled the enire US economy overnight (if you think THIS economy is bad, you have no idea)


3 posted on 10/10/2009 8:06:18 AM PDT by Mr. K (THIS ADMINISTRATION IS WEARING OUT MY CAPSLOCK KEY DAMMIT DAMMIT DAMMIT!!!!!)
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To: ChessExpert
The separation between Gold and silver is puzzling Gold has many uses one being wealth hedging while silver has more of an Industrial side.
4 posted on 10/10/2009 8:06:43 AM PDT by Cheetahcat (Zero the Wright kind of Racist! We are in a state of War with Democrats)
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To: Canedawg

http://www.humanevents.com/article.php?id=33892


5 posted on 10/10/2009 8:08:45 AM PDT by jessduntno (Tell Obama to STFU - Stop The Federal Usurpation.)
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To: Canedawg
Here's a link to the article.
6 posted on 10/10/2009 8:09:22 AM PDT by blam
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To: jessduntno; blam

thank you


7 posted on 10/10/2009 8:11:43 AM PDT by Canedawg (FUBO)
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To: Canedawg

Oh that’s what it is! lol, I got to the final sentence and thought “well hell, aren’t you going to analyze and tell us of the ‘impact”.


8 posted on 10/10/2009 8:11:44 AM PDT by Outlaw Woman (In Defense of Liberty.........Radicalism may be necessary.)
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To: Mr. K
That sounds to me like a deliberate act of War.

I think the first attack happened last fall.

9 posted on 10/10/2009 8:11:50 AM PDT by alicewonders (Sarah Palin is the face of America's future.)
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To: ChessExpert
Devaluation is inevitable. Whether big players take drastic steps in a withdrawal and set off a wide ranging flight from the dollar is debateable. When you've got countries as diverse as the Philippines intervening to prop it up is seems almost certain.
10 posted on 10/10/2009 8:11:53 AM PDT by allmost
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To: ChessExpert
Is there any truth to the rumors that the dollar is being replaced by a basket of foreign currencies

Didn't thay award Barry Odumbo the Nobel prize in anticipation of that event?

11 posted on 10/10/2009 8:18:01 AM PDT by YankeeReb
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To: ChessExpert

He neglects to mention how the ratio between gold and silver is off.


12 posted on 10/10/2009 8:18:32 AM PDT by nickcarraway
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To: ChessExpert

Is the dollar going to collapse? Yes.


13 posted on 10/10/2009 8:21:08 AM PDT by Nuc1 (NUC1 Sub pusher SSN 668 (Liberals Aren't Patriots))
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To: ChessExpert

What is the best way to buy silver?


14 posted on 10/10/2009 8:24:58 AM PDT by freespirited (Liberals are only liberal about sex & drugs. Otherwise, they want to control your life. --DHorowitz)
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To: ChessExpert
George W. Bush, 2001 - 2009, US dollar -26%
Bill Clinton, 1993-2001, US dollar +18%
George H.W. Bush, 1989-1993, US dollar -6%
Ronald Reagan, 1981-1989, US dollar +2%
Jimmy Carter, 1977-1981, US dollar -14%

15 posted on 10/10/2009 8:24:59 AM PDT by BGHater ("real price of every thing ... is the toil and trouble of acquiring it")
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To: blam

for later


16 posted on 10/10/2009 8:26:34 AM PDT by lonestar (Obama is turning Bush's "mess" into a catastrophe.)
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To: nickcarraway
There's no reason for an investor to buy silver. That would be like investing in the dollar by buying dimes. What would be the point? Besides, industrial demand is declining as film becomes a thing of the past.

Silver will always be the weak sister of metals, but I admit it's pretty.

17 posted on 10/10/2009 8:35:25 AM PDT by Batrachian
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To: Cheetahcat
Gold has many uses one being wealth hedging while silver has more of an Industrial side.

Gold is more of an industrial metal these days, too. A lot of it is used in high speed electronics, particularly communications devices.

18 posted on 10/10/2009 8:42:02 AM PDT by Thermalseeker (Stop the insanity - Flush Congress!)
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To: Batrachian
What would be the point?

Motor contactors, switches, chip bonding epoxies and glasses, high-temperature solders and brazing materials...

Yeah, you know what you're talking about. /s

19 posted on 10/10/2009 8:43:49 AM PDT by Carry_Okie (Grovelnator Schwarzenkaiser, fashionable fascism one charade at a time.)
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To: Mr. K

Where can I find the article you reference?


20 posted on 10/10/2009 8:53:25 AM PDT by crosstimbers
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