[steve0]

Easy response. Remember Iceland my friend! No one could predict the day and the hour of judgment(occurred on 10/28/08 ). However, weeks maybe months before people knew status quo was “unsustainable.” The whipsaw is coming. We will be like them: one day bag of potatoes is 20 iceland “dollars” next day it is 40. For me to give a final warning on such a date is pointless, no?

see: http://en.wikipedia.org/wiki/Iceland
On 28 October 2008, the Icelandic government raised interest rates to 18%, (as of August 2010, it was 7%) a move which was forced in part by the terms of acquiring a loan from the IMF. After the rate hike, trading on the Icelandic króna finally resumed on the open market, with valuation at around 250 ISK per Euro, less than one-third the value of the 1:70 exchange rate during most of 2008, and a significant drop from the 1:150 exchange ratio of the week before. Iceland has appealed to Nordic countries for an additional €4 billion in aid to avert the continuing crisis.[89]

[sam_paine]

SO you’re saying I still have time to panic? Or should I panic ahead of time?

[agere_contra]

Steve, you write like a lunatic. This is a shame because you are correct.

The dollar will lose 75% of its buying power at some point in the next 18 months. This devaluation will seem very sudden, like the PEMEX or Argentinean devaluations.

America will survive the dollar crash and will grow again - but anyone in cash in the frantic week when the devaluation happens will be wiped out.