Is the Dollar Going to Collapse?

Human Events | 10/09/2009 | Mark Skousen

[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?

[ChessExpert]

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.

[Canedawg]

You omitted the link to the story.

[Mr. K]

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)

[Cheetahcat]

The separation between Gold and silver is puzzling Gold has many uses one being wealth hedging while silver has more of an Industrial side.

[jessduntno]

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

[blam]

Here's a link to the article.

[Canedawg]

thank you

[Outlaw Woman]

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”.

[alicewonders]

That sounds to me like a deliberate act of War.

I think the first attack happened last fall.

[allmost]

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.

[YankeeReb]

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?

[nickcarraway]

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

[Nuc1]

Is the dollar going to collapse? Yes.

[freespirited]

What is the best way to buy silver?

[BGHater]

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%

[lonestar]

for later

[Batrachian]

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.

[Thermalseeker]

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.

[Carry_Okie]

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

[crosstimbers]

Where can I find the article you reference?