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Author Topic: U.S. dollar could 'collapse': UN  (Read 3731 times)
liberty
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May 27, 2011, 04:46:42 AM
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Major News!

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UNITED NATIONS – The United Nations warned on Wednesday of a possible crisis of confidence in, and even a “collapse” of, the U.S. dollar if its value against other currencies continued to decline.

http://www.globalnews.ca/world/dollar+could+collapse/4839011/story.html#ixzz1NUSQMMJr
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kjj
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May 27, 2011, 04:53:47 AM
 #2

Yawn.

These stories come out every couple of months, and have for years, and years, and years.

The dollar has some big problems, as does the US in general, but there is simply no viable alternative, and no prospects for an alternative.  Also, nearly every man, woman and child on the face of the planet has a vested interest in preventing a full blown collapse.

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FreeMoney
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May 27, 2011, 05:05:26 AM
 #3

Wow, what a bold prediction. If the value keeps going down it will lose it's value? Holy revelation batman.

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kuba_10
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May 27, 2011, 05:09:13 AM
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I bought some dollars as an investment about a month ago and from that time dollar has been going up steadily. I doubt that it will collapse in close future.

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May 27, 2011, 09:25:28 AM
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Some people say it will be a short period of deflation after QE2, due to credit contraction. Remember that most of the USD supply is created by commercial banks and not directly by the fed.
I guess it all depends in whether there will be QE3 or not.

2 different forms of free-money: Freicoin (free of basic interest because it's perishable), Mutual credit (no interest because it's abundant)
liberty
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May 27, 2011, 09:19:01 PM
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It will be a QE3, after it will continue to 4,5 ... n.

Nobody wants to deal with the boogie man -austerity measures, so they print and print and print...
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May 27, 2011, 09:25:52 PM
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It will be a QE3, after it will continue to 4,5 ... n.

Nobody wants to deal with the boogie man -austerity measures, so they print and print and print...

I bet it won't. I bet they call it something else so they can shout over and over how they stopped QEing and you should hate the market for the prices rising etc.

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liberty
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May 27, 2011, 09:35:36 PM
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I bet it won't. I bet they call it something else so they can shout over and over how they stopped QEing and you should hate the market for the prices rising etc.
Whatever they call it, the end result is the same, the paper value goes to zero.
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May 27, 2011, 10:14:05 PM
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I bet it won't. I bet they call it something else so they can shout over and over how they stopped QEing and you should hate the market for the prices rising etc.
Whatever they call it, the end result is the same, the paper value goes to zero.

Will this make bitcoin value go to infinity?

When I use the word "higher" in a sentence I actually mean lower.
liberty
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May 27, 2011, 10:30:08 PM
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[
Will this make bitcoin value go to infinity?
Grin I see your sarcasm there, but the correct  answer is that when paper value is zero, you value your BTC against other valuable goods, resources for example, or hours of work, etc.
Dobrodav
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May 27, 2011, 11:19:08 PM
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Paper value is not zero. Paper can be used in any buisnes ...

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cypherdoc
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May 27, 2011, 11:34:41 PM
 #12

Yawn.

These stories come out every couple of months, and have for years, and years, and years.

The dollar has some big problems, as does the US in general, but there is simply no viable alternative, and no prospects for an alternative.  Also, nearly every man, woman and child on the face of the planet has a vested interest in preventing a full blown collapse.

ummm, what is bitcoin all about?
liberty
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May 28, 2011, 12:36:37 AM
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Paper value is not zero. Paper can be used in any buisnes ...
Try to use in any business some Zimbabwe dollars.
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May 28, 2011, 12:53:09 AM
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Wow, what a bold prediction. If the value keeps going down it will lose it's value? Holy revelation batman.
Cheesy



I bet it won't. I bet they call it something else so they can shout over and over how they stopped QEing and you should hate the market for the prices rising etc.
Whatever they call it, the end result is the same, the paper value goes to zero.

Will this make bitcoin value go to infinity?
Value against USD, yep!
Basiley
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May 28, 2011, 01:59:28 AM
 #15

we're heard such "news" 100 yrs ago.
but nothing happen Tongue
eturnerx
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May 28, 2011, 05:08:29 AM
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Paper value is not zero. Paper can be used in any buisnes ...
About the only business some fiat notes are worth using for is morning business when perched on the porcelain throne.
byronbb
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May 28, 2011, 07:14:05 AM
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America owes China more than it can repay.
America has land.
China has lots of people.




kjj
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May 28, 2011, 03:18:54 PM
 #18

Yawn.

These stories come out every couple of months, and have for years, and years, and years.

The dollar has some big problems, as does the US in general, but there is simply no viable alternative, and no prospects for an alternative.  Also, nearly every man, woman and child on the face of the planet has a vested interest in preventing a full blown collapse.

ummm, what is bitcoin all about?

Maybe some day.  Not today, not soon.

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ISA
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May 28, 2011, 03:48:42 PM
 #19

This time it could be real.
The US Dollar has a extremely high inflation rate.

Here are my arguments:

1) US Gasoline prices have skyrocket:
http://www.eia.gov/oil_gas/petroleum/data_publications/wrgp/mogas_chart.gif

2) US Food prices are going up and up and up:
http://inflationdata.net/wp-content/uploads/2011/02/Global_Food_Prices_2011.jpg

3) Unemployment rate explodes:
http://www.hendon-group.com/wp-content/uploads/2011/03/2011-01_US-UnemploymentRate-Chart-482w.jpg

4) The Fed (Ben Bernake) recently emphasized in the first press conference ever, that the inflation could be a big problem.
http://www.guardian.co.uk/business/richard-adams-blog/2011/apr/27/ben-bernanke-press-conference-live

5) The US is technically bankrupt:
http://www.bloomberg.com/news/2011-05-26/vtb-ceo-says-u-s-nearly-bankrupt-as-instability-lingers-1-.html

6) The money supply is out of control. The FED even does not longer try to measure the M3 since 2005. It's gone exponential:
http://www.theintelligence.de/images/stories/bilder/us_dollar_money_supply.gif


Conclusion:
The US Dollar will continue to inflate which means a deterioration in actual value (=You can buy less stuff).
This means alternative assets/currencies like Bitcoin and Gold will continue to increase in its value (=You can get more stuff for it).

If you fear the crash of the Dollar you probably should think about what "Change" means to you.
SgtSpike
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May 28, 2011, 05:58:46 PM
 #20

I'd welcome lots of inflation with open arms.  With your net worth is negative, it helps.  Smiley
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