The dollar dives and drowns

[lame54]

http://www.upi.com/NewsTrack/Business/2007/11/19/forecast_us_dollar_could_plunge_90_pct/4876

Forecast: U.S. dollar could plunge 90 pct


Published: Nov. 19, 2007 at 2:16 PM
Print story Email to a friend Font size:RHINEBECK, N.Y., Nov. 19 (UPI) -- A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said.

"We are going to see economic times the likes of which no living person has seen," Trends Research Institute Director Gerald Celente said, forecasting a "Panic of 2008."

"The bigger they are, the harder they'll fall," he said in an interview with New York's Hudson Valley Business Journal.

Celente -- who forecast the subprime mortgage financial crisis and the dollar's decline a year ago and gold's current rise in May -- told the newspaper the subprime mortgage meltdown was just the first "small, high-risk segment of the market" to collapse...
In the meantime...

http://youtube.com/watch?v=qGwvSwOP7Ow

[tesla78]

1. It is all planned

Once the dollar is worthless they can push the NAU(North American Union) and its currency(Amero) on us. Say goodbye to the Constitution.

[Jack Bone]

4. Start a few more wars..re-enact the Draft...

Get "Joe Six-Pack" pissed off at the illegal immigrants..for taking his job away..blah..blah..blah
It's all fairly predicable and very, very scary!!

[soothsayer]

9. indeed. can't wait to hear how they'll make canada go along with it, but

they will.

[formercia]

11. Parity vs the Peso

It makes the math much simpler.

[earth mom]

15. Here comes the Amero-been saying it for months.

:argh:

Bye Bye United States of America!

:cry:

p.s. Canada will go along because TPTB will force them to. They are a small country-population wise.

:nuke:

[Deja Q]

30. Bollocks; it's also been said that even a damaged dollar would still be better than a new Amero.

And if it is chucking America down the toilet, why is the currency called "Amero"? Who not "Nauo", as in North American Union - like how the European Union has a currency called the Euro?

This one-world government jiffypop :tinfoilhat: has as much allowing its debunking as anything else.

[earth mom]

42. Bullsh*t yourself. You obviously haven't connected any of the dots. nt

[Mr_Jefferson_24]

54. Doesn't matter what they call it, once the international community...

...stampedes for the exits on the U.S. dollar, that's gonna be it, it's over -- and that day is not far off.

[Canuckistanian]

50. You underestimate Canadians

I can tell you right now that we'd scream bloody murder at having our currency tied to the losing US economy.

Our economy is doing pretty well right now - low unemployment, budget surpluses and a relatively strong currency compared to the euro.

We ain't about to give that up.

[bdamomma]

52. hang tough you guys.

[treestar]

16. Why would this be?

Europe isn't falling apart since the Euro.

I don't know that the Amero would be a good thing, but why would it mean saying goodbye to the Constitution?

[earth mom]

21. Merging with other nations is NOT in the Constitution.

Doing this is not only treasonous but a way to completely shred the Constitution once and for all.


A North American Union is the removal of sovereignty-independence and self determination-from all 3 countries.


The powers that be-bastards one and all-want a One World Government-it's what they call "Globalization".


http://youtube.com/watch?v=vuBo4E77ZXo&feature=related

BTW-This video has had A HALF MILLION views.

This one has 200K:

http://www.youtube.com/watch?v=d8LzLRU35CY&feature=related

More from CNN:

http://www.youtube.com/watch?v=-vda1KRF75M&feature=related

http://www.youtube.com/watch?v=XdxI0zClV_Y&feature=related

[treestar]

23. It isn't the merging of nations

Any more than it is in the European Union.

http://en.wikipedia.org/wiki/Amero

A little sanity on this subject. It looks as if it will not happen because it is not to the advantage of the U.S. The U.S. debt means it would be a disadvantage to Canada. The U.S. would dominate this union so much that the other ocuntries have no reason to want to do it, either.

Ecuador actually adopted the U.S. dollar as its currency at one point. The dollar has dominated the world.

This is not likely to happen but even if it did, it would not be the end of the world.

[earth mom]

24. So you welcome the merge?

Do you even understand what would happen to all of us-middle class & poor-in this country if the 3 countries merge?

Do you understand that the Constitution will be totally trashed & burned and that they will put in place a government-probably a dictatorTOTship with * at the helm?

I'm talking a government that doesn't give a damn about your individual rights. Tough sh*t if you don't have health care, or that all the jobs in the country now pay ONE buck an hour-if that.


Yeah, I'm talking about those rights that were given to YOU in the Constitution of United States of America by the founding fathers so that YOU could be free and treated fairly by the government.


How in the world can you so cavalierly say a North American Union is "not the end of the world"?! :wtf:


Do you even understand what will happen to jobs, to wages, to our way of life, to everything?


And you say lets have some sanity on this subject? Well, to accept this like it's no big deal is just about the craziest thing I've ever heard.

[treestar]

38. I think the whole thing is illusory and it is crazy to worry about it

It has even been called a "conspiracy theory."

Why isn't the European Union "the end of the world" for the Europeans, then? Each country is still functioning under its own constitution or laws.

Just because I don't think it would be the end of the world in the fantasyland where it would happen doesn't mean I "welcome the merge." What a dishonest way of using a logical fallacy.

If you get this upset over imaginary theoretical North American Unions, I can't imagine how upset you get about what is actually happening in the real world. You're going to have a heart attack if you don't calm down.

[earth mom]

41. If you aren't angry or upset you aren't paying attention. Obviously you aren't paying attention.

Europe isn't the U.S.-Your comparison is ridiculous.

You know, I replied to your post originally because you asked a question.

I can see now that you've made up your mind and your only intention was to stir the pot. :eyes:

[glowing]

19. The constitution is gone anyway... and the paper money is and has

been worthless for sometime.. there is not standard.. Its fake... Does it matter what it looks like? Anyway... If we do get this NAU... we have 3 country forces of pissed off people to demand our rights... maybe we just make a bigger country and we have more places to visit.... There are always ways to erase the negatively intended... What could be better than to begin erasing borders and demanding equal rights for all of earth's children... We need to be forceful--- if they assume to cattle us up and give us less, we push back with 3 nations of liberators.

[earth mom]

25. Don't kid yourself. This is bad for everyone-except the elite rich mo fos. nt

[glowing]

36. Oh, of course.. they switched to Euro some time ago to save their

value in their money.. or they have it sitting in Gold in a Swiss bank... My point is that things don't have to be so gloom and doom... A negative can be made into a positive... You just have to try.

[earth mom]

43. Have you seen what's happened in 7 years? Be in denial though, if it makes you feel better. nt

[glowing]

45. I have and I'm too young and my children are too young to be glooming

and dooming... Baby boomers need to stop bitching and fearing smoke some damn pot or something and use their collective heads and hearts to combat the problems... not just sit by watching their nest eggs falter... Seriously, when they are gone, your children are left... better fight for them because they will be taking care of you... better hope they have jobs to do so.

[earth mom]

46. We are trying to fix things. Now why don't you get busy & start helping instead of expecting us

to do all the work.

p.s What nest egg? That's some heavy duty sh*t you've been smoking. :rofl:

[glowing]

47. I am doing work... and in a few years, I expect to start my political

assent...So, real people are running this country, not a bunch or pre-paid dignataries.... There are some people who do have nest eggs... My mother says she's worth more dead than alive because she hasn't touched the egg and we would inherit... I hope she doesn't... I'd rather enjoy her than her money.

Anyway, I refuse to bundled into this massive heard that reacts. Oh no, there's a wolf in this corner... better run to the other side of the fence, oh no, there's a stream in the way better go around... Instead trample the wolf, and build the bridge so your children can get to greener pastures on the other side...

And sadly, I don't smoke anymore. Became an adult and for now, its illegal, and I don't need anything to be used agaisnt me in a custody hearing.

Life goes on. Realizing that there is danger is fine.. Rehearsing the same scenes and acts over and over again in this country is getting shamelessly tiring.

[earth mom]

49. Well from someone older & wiser than you, I'd say the sh*t is about to hit the fan.

History is repeating itself and you might want to study up.

But then again... your mommy has plenty of money to help you out when the going gets tough, so no worries, eh? :eyes:


U.S. dollar could plunge up to 90% in value. Oh boy!
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x2348005

[gateley]

2. I can't even imagine what's in store for us. nt

[malaise]

3. Just promise me that I'll watch some

of the robber barons jump and I'll take my side of the pain.

[Islander Expat]

5. I've got my farm in the Philippines....

got my chickens, garden and fruit trees and I don't have any debts.

I did something right for a change.

[ORDagnabbit]

6. couple of instructional vids to understand more

www.moneyasdebt.net

and

www.freedomtofascism.com

[gateley]

7. I'll call you when my plane arrives. nt

[Islander Expat]

10. Sure, gimme me a call and I'll meet you at the airport with a cold Guyabano daiquiri ..

ahhhhhhh.

[MzShellG]

8. Question is...

How low will it go? And what will be the fallout. Is there any end in site for this downward spiral?

[TalkingDog]

12. Hi Me_Shell, welcome to DU! An uniformed opinion on the matter:

Your questions are kind of broad, but I think the best anybody can do, even the experts, is offer an opinion. Their informed opinions are most likely better than mine, but they seemingly fall into 2 broad camps:

1: The Optimists- Cheerleaders for our capitalist process and current fiscal methodology. They reportedly think it will be a mild recession at best, lasting only a few months to perhaps a year at best.

2: The Pessimists- Most of these folks, I've seen on the internets and not much in the MSM (go figure.... newspapers run by mega-corporations won't quote folks who implicitly criticize them) Their forecasts range from really bad to incredibly dire.

Dire like.....mass hunger in major cities dire. Dire like the Great Depression except compounded by several factors of 10. No jobs, no fuel for heating or for transporting necessities like food, medicine or emergency supplies.

Think post-Katrina New Orleans, except without the flooding and general destruction and with the rest of the world in exactly the same situation....

Years later N.O. still hasn't recovered and reportedly our government is capable and on solid financial footing.

That's how bad it could get. Is that how bad it will get?
Well, it's like Katrina. We know it's coming. Nobody has yet to deny it. Not one "expert" thinks it will die down or miss us completely. But the timing of the hit and whether there are unforeseen circumstances (think badly engineered levees) that could compound the problem including the human herd and their larger reaction (i.e to the govt. potential for riots and revolutionary acts).

So, knowing what you know now about how Katrina played out, not just in N.O. but in the whole Gulf area, how will you prepare?

The best and most widely suggested preparation is divest yourself of every bit of debt you can. No more charge or credit cards. Cash only. Pay down everything you can. Start selling stuff to do that if you have to.

Then, because inflation will make future money worthless or deflation will "eat" the money supply (which is what happened in the Depression, a lack of money...it's complicated, but just go with it) the best thing to have is a good supply of emergency foods, water, first aid items...just like for a natural disaster, but one lasting years.

Our household has always been down on debt and accordingly have decided to go the route of caution by stocking up as much as we can. Our logic is that even if it is only a mild breeze rather than a full-force gale, we will still need to eat.

So in the choice between Blind Optimist and Defeated Pessimist, the prudent choose the middle way: Prepared Realist.


My Favorite Master Artist: Karen Parker GhostWoman Studios

[Angela Shelley]

18. I agree, Prepared Realism

Thanks for the explanatory comments

[lovuian]

13. this must be a hot topic cause my Amero video has

over 6000 views

http://youtube.com/watch?v=fIEP7jreJ-Y

obviously many people are nervous and aware of the Amero is coming
the Amero and the Euro look like they can merge in a nice neat one unifed currency

[lonestarnot]

14. And I believe this to be the goal post, score.

(don't know much about sports though)

[NorthernSpy]

20. the Euro + the Amero = the Globo...

People will speak of "the almighty Globo".


Another day, another globo.

[bluesmail]

33. It's difficult for me to read the pink wording.

[formercia]

17. Drowning in a Bathtub

That was the plan.


The neighbors laughed at me when I turned my front yard into a garden......

[Deja Q]

31. I'd laugh too, please forgive me.

How many people are you feeding?

What local climate do you live in? Will it spring up them veggies every day?

How about water? Still need to rely on the plumber...

[formercia]

34. Intangible values

like knowing the veggies didn't have any pesticides applied and everyone who tries them agrees the flavor and keeping quality is much better than what comes from the supermarket.

Think of it as an insurance policy.

[bdamomma]

53. keep your garden, and pay no attention to those who are not thinking

ahead.

[gulliver]

22. Was it like this under Clinton?

I don't think so, but maybe it's me.

[wishlist]

27. I remember $.87 per gallon heating oil when Clinton was Pres, not over $3

I remember when the Texas oil people were complaining that oil was so low they were better off not pumping it out. They were the only ones complaining about the Clinton economy though, along with the rabid Clinton haters who were desperate to get back in power for their own selfish reasons.

[unblock]

26. NINETY percent???? sorry, but crap like this makes us all look like idiots

EVEN IF IT WERE TRUE, we come off as idiots being such doomsayers.

and the fact of the matter is, 90% is ridiculous.by the time the USD falls 30% or even 50%, the incentives become HUGE to start correcting things by importing less, exporting more, manufacturing here, etc., all of which puts a floor under the dollar.

[Deja Q]

29. I agree.

I still see plenty of "Made in the USA" products. We could do more with electronics, but recall that Intel built a processor plant in Arizona a few months ago. Arizona. That's in the USA.

It's a wait-and-see venture regardless, but if nothing else, the doomsayers should either go do something unspeakable or ENJOY life. I mean, none of us is immortal - like it or not.

Tell me where I'm wrong.

[unblock]

32. you're wrong, *I* am immortal

at least, i've never died yet. not once!

:P

[earth mom]

44. You're obviously too young to know that not too long ago MOST products were made in the U.S.

Your attitude of it's "no big deal" is why the Nazi 's were able to do what they did.

Give the bastards in charge an inch and they'll take a mile. Which is exactly what they've done.

Connect the dots.

[Danascot]

39. The USDollar has already declined more than 30%

since Bush took office.

[unblock]

40. from a short-lived peak, yes. and it's already having an effect

people are cancelling european vacations, and europeans are spending more in the u.s.

[liberalla]

48. Here's where the dollar is right now

[L0oniX]

28. Most of my savings is in gold. I figured this out about this time last year

[vssmith]

35. Mine too

If inflation is coming and the dollar devalues more gold will really take off. Instead of paying off a house now, why not wait and pay it off with dollars that are worth less.

[enid602]

37. Rhinebeck?

Hmmm . . . Husdson Valley Business Journal, of Rhinebeck, NY. Never heard of it.

I don't think Bush is purposely trying to kill the buck; remember, we attacked Iraq just a few months after Saddam announced he would collect oil proceeds in Euros. Furthermore, Bush is now considering an attack on Iran, who has already nixed the Dollar. Bush fails to see that the Dollar's success will stem not from gunboat diplomacy, but rather fiscal constraint, adequate taxes and a healthy balance of trade.

[Javaman]

51. Is it any wonder why the price of oil is going up when it's based on the dollar?

Yeah, we are at peak but face it, the dollar is exclusively tied to oil.

if the dollar goes down, just like gold, oil goes up.

Once the US buck breaks the 50 cent mark, consider us all in deep shit.

[Uncle Joe]

55. That's what happens when you elevate

corrupt incompetence over visionary leadership, after Bush vs Gore, this was as inevitable as the sun setting in the evening.