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Author Topic: Let's say the US dollar collapses...  (Read 1386 times)
Immanuel
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November 08, 2010, 05:25:05 PM
 #1

They audit the Federal Reserve and there's no gold but the fillings in the guard's teeth. The US dollar suffers dramatically. What implications would it have on Bitcoin?

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ribuck
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November 08, 2010, 05:40:54 PM
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As the US dollar in your pocket is not currently backed by gold, I don't think the effects would be so dramatic.
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November 08, 2010, 05:46:33 PM
 #3

As the US dollar in your pocket is not currently backed by gold, I don't think the effects would be so dramatic.

Yeah, no matter how much gold they have or don't have you aren't getting your hands on it.

The dollar is going down, not for lack of gold, but for a flood of dollars.

The dollars/BTC will get obscenely large, but so will dollars/Cheerio.

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November 08, 2010, 05:49:21 PM
 #4

The dollars/BTC will get obscenely large, but so will dollars/Cheerio.

This is why I keep stocking up on Cheerios. Unfortunately, just like dollars, the kids eat them as fast as I can acquire them.
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November 08, 2010, 05:50:33 PM
 #5

The dollars/BTC will get obscenely large, but so will dollars/Cheerio.

This is why I keep stocking up on Cheerios. Unfortunately, just like dollars, the kids eat them as fast as I can acquire them.

Lol

People always say "You can't eat gold" like it's a bad thing, maybe it's not.

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November 08, 2010, 06:04:07 PM
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People always say "You can't eat gold"
Sure you can eat gold, it's just too expensive for most people.
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November 08, 2010, 06:10:03 PM
 #7

People always say "You can't eat gold"
Sure you can eat gold, it's just too expensive for most people.

Oh great, now I'm going to have to pan for gold in the sewer system.


In any event, I don't think the USD is going to collapse any time shortly.  They aren't printing it fast enough to keep up with the crash in privately-issued credit, are they?

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November 08, 2010, 06:10:57 PM
 #8

People always say "You can't eat gold"
Sure you can eat gold, it's just too expensive for most people.

Also, You can drink gold as well, if you care/can afford it:
http://www.daylife.com/photo/0deIenr5yA0Zc?q=Dubai
http://nfl.msg.com/photo/0fgz4pV9Mad2M?q=Dubai
http://timesofindia.indiatimes.com/topic/photo/06MB6Gg2EBdFy?q=GOLD

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November 08, 2010, 06:13:05 PM
 #9

People always say "You can't eat gold"
Sure you can eat gold, it's just too expensive for most people.

Oh great, now I'm going to have to pan for gold in the sewer system.


In any event, I don't think the USD is going to collapse any time shortly.  They aren't printing it fast enough to keep up with the crash in privately-issued credit, are they?

Actually, dollar haven't already collapsed because of just one reason: All oil can be only bought for dollars, so every country in the world has to keep some dollars reserves to buy oil.
USA are taxing entire world using inflating dollar this way (but that's another story).

The lower dollar goes, the more taxed rest (non-US) of the world is.

EDIT:
Saddam Hussein wanting to sell oil for EURO instead of dollar is probably the sole reason for Iraq war. Now guess what: Iran wants to sell oil for euro. USA starts talking about war....

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November 08, 2010, 07:52:23 PM
 #10

Saddam Hussein wanting to sell oil for EURO instead of dollar is probably the sole reason for Iraq war. Now guess what: Iran wants to sell oil for euro. USA starts talking about war....
That sounds very interesting. Any internet sources for that (Hussein and Ahmadinedschad) ?

EDIT: forget that, google is my friend Tongue

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November 08, 2010, 08:17:45 PM
 #11

Saddam Hussein wanting to sell oil for EURO instead of dollar is probably the sole reason for Iraq war. Now guess what: Iran wants to sell oil for euro. USA starts talking about war....
That sounds very interesting. Any internet sources for that (Hussein and Ahmadinedschad) ?

Hundreds, probably.  Where have you been the past 8 years, in a cave watching only Fox News.

Hell, I'm pretty sure that Hussein's threat to stop taking $ and accept Euros instead was even covered by Fox.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
SmokeTooMuch
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November 08, 2010, 10:11:16 PM
 #12

Well I live in Germany, and I was only 13 when Iraq-War began, so I guess I'm excused Wink
Only heard things about WOMD and oil back then, nothing about the EURO.

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November 09, 2010, 12:15:11 AM
 #13

Well I live in Germany, and I was only 13 when Iraq-War began, so I guess I'm excused Wink
Only heard things about WOMD and oil back then, nothing about the EURO.

Fair enough.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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