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Surviving A Coming USD Collapse
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Topic: Surviving A Coming USD Collapse (Read 2113 times)
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WhiskeyGirl
Monkey All Star Jr.
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Surviving A Coming USD Collapse
«
on:
November 09, 2008, 06:34:37 PM »
Quote
Surviving A Coming USD Collapse
By Christopher Laird
November 09, 2008 "Gold Eagle" -- Now that the US election is over, we get to think about the Future. And, no matter how you look at it, the entire world, the West particularly, is in for tough sledding financially.
Quote
But then, on top of that, at some point later the USD will finally collapse. This is not something way way out there in the future. This issue is becoming a near term threat.
What has held the USD up and why that’s going to change
The primary reason the USD has held up so well in the last decades, in spite of ever worsening US trade and budget deficits that add to over $1 trillion a year combined, is that the US was an export economy’s dream customer. Because the US was such a good customer to the world, they bought our US Treasury bonds, and lent trillions in other ways to the US consumer. As long as the US consumer could carry that process out, our trade partners could make bank on the US and USD.
However, once the US consumer is tapped out, and cannot effectively make a return on investment of our trade partners, the rationale for the continuation of the USD goes away. All that remains after that is a budget busted US Federal government. At that point, why would our trade partners continue to buy all the US treasury bonds and such, and debase their currencies, if the US cannot be such a good customer anymore? At that point, the USD will rapidly fall into a devaluation crisis.
Quote
How can we get out of this mess?
Well, first I have to say I don’t think we will avoid a long, possibly ten years, depression. But there are some ways it might be avoided.
First, if the US abrogated the $60 trillion of promises to Social Security and Medicare, maybe that would save the USD. But that won’t happen. Probably, what the US will do is just pay it all, but with worthless dollars.
The second thing that might get the world out of this impending economic depression and a collapse of the USD later would be to forgive all debts. Possibly that would wipe out the USD too anyway. But that would set the stage for a huge world economic recovery.
www.PrudentSquirrel.com
read the whole article here
http://www.informationclearinghouse.info/article21179.htm
This guy seems to think things will really tank in four years, and the depression will last for 10 years.
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All my posts are just my humble opinions. Please take with a grain of salt.
It doesn't do any good to hate anyone,
they'll end up in your family anyway...
WhiskeyGirl
Monkey All Star Jr.
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Re: Surviving A Coming USD Collapse
«
Reply #1 on:
November 09, 2008, 06:36:42 PM »
Quote
I don’t think we will have to wait for 30 years to see Social Security and Medicare to bankrupt the US. What will happen sooner is that, as the US enters economic depression this time, the return on investment for our trade partners will disappear. The US won’t keep our trade parnters’ hundreds of millions employed, and they will then stop buying US Treasury bonds. And then the USD devalues 70% in a year. Maybe going to zero soon after that. The US is then bankrupted.
When can this happen? Possibly mid way into the next US economic depression (not recession). And, since I think we are now entering the beginning of a US depression, then if it lasts ten years, that means we have about 4 years to go for the USD to finally give up the ghost.
Yes, I mean that. We have maybe 4 years left, maybe even only 2 years for the USD to remain anything at all.
From the same article, an explanation of the 4 years.
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All my posts are just my humble opinions. Please take with a grain of salt.
It doesn't do any good to hate anyone,
they'll end up in your family anyway...
Edward
Monkey Junky
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Posts: 3816
Re: Surviving A Coming USD Collapse
«
Reply #2 on:
November 09, 2008, 06:51:18 PM »
Purchase Gold.. In raw form and hide it well.
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WhiskeyGirl
Monkey All Star Jr.
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Posts: 7754
Re: Surviving A Coming USD Collapse
«
Reply #3 on:
November 09, 2008, 06:54:32 PM »
Quote from: Edward on November 09, 2008, 06:51:18 PM
Purchase Gold.. In raw form and hide it well.
I was thinking the mattress was a good place to store some money...wouldn't increase, but wouldn't decrease.
Gold will probably be the next conversion. Something to think about.
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All my posts are just my humble opinions. Please take with a grain of salt.
It doesn't do any good to hate anyone,
they'll end up in your family anyway...
WhiskeyGirl
Monkey All Star Jr.
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Posts: 7754
Re: Surviving A Coming USD Collapse
«
Reply #4 on:
November 09, 2008, 07:13:19 PM »
Quote
Real work
The Democrats have scored impressive victories and now must prove themselves worthy of the confidence voters have placed in them
.
Quote
The records of Pelosi, Reid and Hoyer over the past two years are not impressive. In fact, even a lot of Democrats are embarrassed at how many opportunities were missed as the White House continued to decline in positive impact.
The Democrats registered major gains two years ago as Republican influence and leadership waned and there were countless predictions of near-miracles as Pelosi took over the House speaker’s job. Optimists contended that these people and their backers were on the verge of outstanding gains on behalf of the people they were voted into office to serve.
But what really did they get done? Democrats have controlled both the House and Senate in that period, and even though their relationship with the Republican White House was generally contentious at best, what of a major nature did they accomplish?
The economy has continued to crumble as the Democratic Congress has time and again missed chances to act and react to obvious threats, fraud and incompetence in the financial sector. True, the George W. Bush presidency has not done much better, and there are mixed results in the wars in Iraq and Afghanistan and the war against terrorism.
But it was the Democrats after gaining workable majorities in the House and Senate who fell so pathetically short of expectations.
Polls show that public regard for the Congress is lower even than its perception of George W. Bush. That is not something Pelosi, Reid and such should be boastful about.
read the rest here -
http://www2.ljworld.com/news/2008/nov/09/real_work/
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All my posts are just my humble opinions. Please take with a grain of salt.
It doesn't do any good to hate anyone,
they'll end up in your family anyway...
LouiseVargas
Monkey Junky
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Posts: 2524
Re: Surviving A Coming USD Collapse
«
Reply #5 on:
November 09, 2008, 10:36:06 PM »
Quote from: Edward on November 09, 2008, 06:51:18 PM
Purchase Gold.. In raw form and hide it well.
Edward,
How does one go about purchasing gold? What is the minimum investment? How does one sell gold?
Thank you!
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Hope is everything. I see angels everywhere.
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