Issue: Economic: Dollar Collapse?

[Bluedevil]

What to know what everyone thinks about this. I have been studying monetary policy more, but still dont really understand it. How likely is it that the dollar will collapse? How devestating could it be?

[Delivered4000]

It has been in a decline against other currencies for a while now

[angrydragon]

http://www.lewrockwell.com/north/north-arch.html

Read a few articles by Gary North (supports Ron Paul), who has a PhD in economic history.

There's a few articles posted here, but kind of hard to find.

[buffalokid777]

What to know what everyone thinks about this. I have been studying monetary policy more, but still dont really understand it. How likely is it that the dollar will collapse? How devestating could it be?

In my 38 years....this is the lowest I've ever seen the dollar against the canadien dollar....

5 years ago 1$us = 1.50$cn

yesterday

1$us = 1.06$cn

that bernake is a complete thief.....

when he stopped releasing M3 money supply to hide how much money the fed is printing.....

the dollar has been spiraling downward since......

I think dollar crash is impending at the current rate fed is printing money....

how bad will it be....too many other factors to consider to say for sure....

If the fed keeps printing money like it is and hiding how much is printing by cotinuing not to release M3 money figures.....

could be real bad......

I swear the Bush regime is just following the Nazi playbook......

Hope it doesn't crash like the mark did under hitler....

[kimosabi]

What to know what everyone thinks about this. I have been studying monetary policy more, but still dont really understand it. How likely is it that the dollar will collapse? How devestating could it be?

Bluedevil,

Watch Money Master (http://video.google.com.au/videoplay?docid=-515319560256183936) and America: Freedom to Fascism (http://video.google.com.au/videoplay?docid=-1656880303867390173)

Once you understand the current money system everything else will become much clearer.

[Man from La Mancha]

Buy silver

[LibertyOfOne]

Silver for sure given that the the swiss just dumped a ton of gold back onto the market.

[Bluedevil]

I am thinking about buying some precious metals. You think silver is better than gold? How did you buy it, from a local dealer? Do you just keep it in a safety deposit box?

Thanks for the help.

[Man from La Mancha]

Any local coin shop for cash. In the past the government made gold illegal but not silver. It is needed too much for industry.

[LibertyOfOne]

Don't spend more than two dollars over spot. There are a few sites on the web where you can get silver for a dollar or less over spot. Just do a search for silver bullion on Google.

[buffalokid777]

I seen the gold dump too....

I think silver is a better investment myself.....

Usually you can get silver coin off ebay for less than $2 over spot....

Easy way to pick it up....

Silver coin is usually easy to liquidate too....

[csen]

This deserves a much longer post but ultimately all fiscal/monetary problems are going to be "socialized" onto the dollar. Pension bailouts? Increases the debt/future obligations of the US. Endless wars? Means more borrowing and military spending. Housing bubble crash? Another bailout -- more borrowing to bail out reckless borrowers. It's sad but true that the powers that be believe in "individual profits, but socialized risk."

For gold/silver, I go to www.coloradogold.com . I have dealt with the guy three times and always got my orders delivered in an expedient manner. He also writes columns three times a week which will surely offend you half the time and intrigue you the other half -- really sweet old man on the phone though.

[Mattsa]

I am thinking about buying some precious metals. You think silver is better than gold? How did you buy it, from a local dealer? Do you just keep it in a safety deposit box?

Thanks for the help.


The gold market is rigged by the central banking system

As soon as gold values climb too high, the central banks sell gold to depress the market. Then they buy it back again at the lower price and repeat the process next time. The Swiss central bank was the latest to do this. Gordon Brown sold 1/3 of the UK gold reserves for $250 oz in 1997. Bloody fool.

The central banks HATE gold. It will always pose a threat to their control as long as there is some chance that it might be used as currency again.

Ron Paul will have a very hard time reintroducing the Gold Standard. They'd kill him to prevent it happening, I'm sure of that.

[buffalokid777]

i look at the www.kitco.com site...

theyre good for buying if you want to spend several thousand.

[LibertyOfOne]

Two websites for buying bullion.

http://www.apmex.com
http://www.nwtmintbullion.com/

[Man from La Mancha]

Can't beat your local coin dealer in cash and small amounts at a time, no over the net or visa, check transactions. For now. And hopefully for ever if Ron is elected.

[Delivered4000]

Silver for sure given that the the swiss just dumped a ton of gold back onto the market.
Shouldn't I BUY gold then?

[LibertyOfOne]

Shouldn't I BUY gold then?

Sure you can if you want, but the spot price as of now might not truly reflect the actions done by the banks. There still might be more sell offs to come.

[markpa]

I have most of my savings in Gold and Silver. I bought it through a dealer but had to fill out some kind of paperwork with my social security number etc...I didn't like doing that but the guy said because I was buying a large amount it was required. I do realize now I should have bought smaller amounts without having to give up so much info but I did what I did. I don't plan on using it for any bad purpose or anything ofcourse so I'm not too worried about it.

I bought it at it's high so if I sold now it would be for a loss but I don't believe the banks will be able to keep the price low as the dollar crashes. It will go up relative to the dollar. I fully expect it to reach 1000.00 an oz over the next 2 years.

[Delivered4000]

I have most of my savings in Gold and Silver. I bought it through a dealer but had to fill out some kind of paperwork with my social security number etc...I didn't like doing that but the guy said because I was buying a large amount it was required. I do realize now I should have bought smaller amounts without having to give up so much info but I did what I did. I don't plan on using it for any bad purpose or anything ofcourse so I'm not too worried about it.

I bought it at it's high so if I sold now it would be for a loss but I don't believe the banks will be able to keep the price low as the dollar crashes. It will go up relative to the dollar. I fully expect it to reach 1000.00 an oz over the next 2 years.
http://weblogs.amny.com/news/local/tracker/blog/fdr1-thumb.jpg
SS you say? We're gonna track you down and we're gonna take it

[sunny]

I am thinking about buying some precious metals. You think silver is better than gold? How did you buy it, from a local dealer? Do you just keep it in a safety deposit box?

Thanks for the help.


hi, i would recommend silver. in the long run it out performs gold. you can get alot more of it. you can use it if you need to for buying or barter. and no - do not keep it in a safe deposit box - take phyical posession. that way you are in total control of your money. keep it someplace only you and if need be another person who you trust implicitly. please pm me if you have any questions about these suggestions.

[markpa]

Yeah, I figured they are keeping track so that they could come get if they make it illegal again. When they did that last time they did pay for it though. They didn't just take it. Ofcourse they give you worthless dollars for it but it's still a good buy versus cd's...bonds whatever. I don't think anyone really knows whats going to happen with the collapse of the dollar, everyone is just guesiing based on the past.

[MozoVote]

I'm not quite 40 years old and can remember 15¢ candy bars when I was a child. A gallon of milk was $1.29. Penny gum dispensers still existed. Yes, you could buy something for a penny... Today it costs the US Mint more to make pennies than they are worth. It's almost true of nickels too, since they are heavier and need more material.

Basically, inflation has reduced a dollar today to the value of a nickel in 1970. Did we have paper nickels then? Does it make sense to have them now? We basically do, in the sense of purchasing power!

[RonPaul4President]

I'm not quite 40 years old and can remember 15¢ candy bars when I was a child. A gallon of milk was $1.29. Penny gum dispensers still existed. Yes, you could buy something for a penny... Today it costs the US Mint more to make pennies than they are worth. It's almost true of nickels too, since they are heavier and need more material.

Basically, inflation has reduced a dollar today to the value of a nickel in 1970. Did we have paper nickels then? Does it make sense to have them now? We basically do, in the sense of purchasing power!

I remember when a pop and a bag of chips cost $.10! For both! It was during the early 70s that the price of things like that went from .5 to .10, then up to .25. When I look back now I kind of wonder what the heck was going on. FYI, the exact same thing was happening in Canada at the same time. I wonder what was devaluing the dollar during the 70s.

Hmmm.

[aravoth]

What to know what everyone thinks about this. I have been studying monetary policy more, but still dont really understand it. How likely is it that the dollar will collapse? How devestating could it be?

The dolllar is already collapsing. Canada for example is moving to open more broad trade relations with Japan and the rest of the far east. By brother-in-law, who lives outside of Vancouver BC, Always talks about how canadians more and more are coming down here for vacation, becuase it's "so cheap". It's slowly going to shit right now, but when othewr countries catch on to the fact that we are about to be over 50 trillion dollars in debt once the baby boomers retire, the dollar won't collapse, it will crash.

I'm about to generalize, so don't call the PC police.

We already have to borrow money from the Chinese to pay out our social security checks, and finance the war. In short, the truth of it is, The only legacy the Baby Boomer generation will leave to this nation is the fact that they inherited the greatest, most free, most industrialized and technologicly advanced superpower the world has ever known throughout the entire history of the human race. And they Bankrupted it. Because of thier collective laziness, and the ideas that they were entitled to free everything, no matter how irresponisible they became, they bankrupted us all, you, me, and our kids.

I mean, seriously, what the hell happened to the Baby Boomer generaion? Look at what they came from. When thier parents started elementary school, alot of them still went to it on the horse and buggy. Then They invented the computer, then, they Landed on the moon, and as a result, produced almost every single technological advancement we have. X-rays, MRI, CAT, Velcro, microwaves, you name it, and it most likely originated from the space program. Anyway, in between this technological renisaunce, they still managed to pick up a rifle and go save the planet from Nazi fascism. And just before the Greatest Generation retired, they stared down the soviet union, and won the cold war without firing a shot.

Then the Spoiled shitheaded children they had took control, Entitlments surged, Illegal immmagration ran rampant, the space program was cut, apathy reigned supreme, the National Debt Skyrocketed, we have been in a perpetual state of war ever since, imposing our will on everyone. Without a space program all we have been able to do is make a better TV, or produce an I-pod, which is not advancement, it's just improving old technology. We are going NO WHERE. Gimme a break, if we tried to go to mars can you imagine they technology that would have been devoloped by doing that? They would've had to come up with true, renewable energy becuase it's too far to ship supplies to. Just to name one. Besides, NASA is the ONLY government agency that actually makes money. It holds patents on all it's inventions, and it could fund itself without any taxes at all if the idiots in office would stop diverting the money made through the patents to social programs.

And always, this generation in power today, continuosly looks away at every atrocity we commit. No-one said a god damn thing when Bill Clinton imposed Sanctions on Iraq, literally starving over 1 million people, and over half of them were children. Not to mention the fact that we still bombed them while they were under sanctions. Our cival liberties are becoming non-existent, and they do nothing, they are cowards, they are selfish, and the world will only be a better place when they are all finally taking a dirt nap.

Any baby boomer that is part of this forum is excluded from the above statements, at least you have the ability to give a shit about something larger than yourself.

[Buzz]

Good post.

[Man from La Mancha]

Thats easy to explain aravoth. The CIA mind control and the Tavistock programing technique were and are being perfected. Working pretty good too.

for a funny review see this post

http://www.ronpaulforums.com/showthread.php?t=5004

[BenIsForRon]

You hit the nail on the head aravoth, baby boomers were the first generation where less than 10% of the people lived below the poverty line. Even in the booming 20's 40% of the population was poor.

As for the dollar, you know it's doomed because the Dow Jones is hitting all time highs, while the dollar is hitting all time lows. Many people don't know this, but Dick Cheney has over 25% of his net worth in foreign accounts that make money when the dollar drops. Conflict of interest maybe?

[rockfree33]

Doesn't it make sense that the dollar is dropping? When the United States holds 99% of the world economy, it has no place to go but down. You don't have to invest in gold/silver, just exchange your dollar for foreign currencies.

[Ira Aten]

Doesn't it make sense that the dollar is dropping? When the United States holds 99% of the world economy, it has no place to go but down. You don't have to invest in gold/silver, just exchange your dollar for foreign currencies.


Rockfree:

If you do that, won't you have to pretty much be in that country in order for it to have more value than Gold or Silver?

Wouldn't worldwide currencies take a pretty good hit if the dollar failed, or am I 360 degress off in that thinking?

Do you feel that a guy with a Euro Dollar could use it to pay any mortgage he owed, or purchase food or clothes in the U.S., or would a vendor take silver or gold (in the U.S.) over a Euro?

[Trance Dance Master]

Buy silver

Mega dittos.

[fsk]

I frequently see websites that say "WAAH! Central banks are manipulating the price of gold and silver down by selling and leasing metal."

I don't see why this is cause for complaint. If you know this to be true, BUY GOLD AND SILVER. At some point, the central banks will have exhausted their reserves and the price will rise to its natural free-market level. As long as you are unleveraged, buying with cash, you can buy-and-hold. You may need to be patient for 10-20 more years. Eventually, the banks will have emptied out their vaults.

The market cannot be fooled forever.

[lucius]

Buy silver

I am researching buying sacks, $1000 face value, of Mercury dimes. I think that it is 723.40oz of pure silver per bag, 803.78oz total. The price is around $9100/bag. Any thoughts about collecting silver in this manner and price? Any feedback about Bob Chapman: The International Forecaster?

[fsk]

I was thinking of buying 100 oz silver bars, but I haven't made a purchase yet.

I also was thinking of buying some 1 oz gold bars or coins.

I don't understand why bags of silver coins are worth a discount to their silver value.

If you're buying silver and gold as a hedge against a dollar collapse, you want to minimize your price paid per ounce. That's all that will matter after the dollar collapses.