Page 1 of 2 12 LastLast
Results 1 to 30 of 46

Thread: Dollar on the road of extinction as reserve currency

  1. #1
    Member kety's Avatar
    Join Date
    Nov 2012
    Location
    Novi Sad, Serbia, Europe
    Posts
    16

    Default Dollar on the road of extinction as reserve currency

    As you probably know, China and Russia are doing everything to collapse dollar as world's reserve currency.

    Today, China have a agreements with more than 35 countries that includes direct trade without dollar with Germany, Russia, Japan, Australia, N. & S. Korea, Turkey, Brazil, South Africa, India, Iran, and so on; all countries from BRICS block are doing trade without dollar with each other and for the first time and most important of all - Russia is selling oil in their own currency - ruble and chinese reninmbi and all former Soviet Union block are doing trade in ruble.

    I'm from Serbia, so you probably don't know what's happening outside of US, but in Europe in general, everyone is trying not to use dollar anymore in their trades. From few days ago, even Serbia and Russia have started doing trade without dollar as reserve currency.

    Therefore, I would like to know your opinion about future of the dollar and his geopolitical influence? Will US be able to succeed to save their currency in present form, precisely, will be able to regain its former glory or the dollar will continue to fall down?


    Best wishes,
    Ivana.
    Last edited by kety; 12-14-2012 at 11:17 AM.



  2. Remove this section of ads by registering.
  3. #2

    Default

    Quote Originally Posted by kety View Post
    Therefore, I would like to know your opinion about future of the dollar and his geopolitical influence? Will US be able to succeed to save their currency in present form, precisely, will be able to regain its former glory or the dollar will continue to fall down?
    It's anyone's guess, but taking history into account as well as the current monetary policy of the US, it is very hard to imagine a scenario where the US dollar will go back to its former glory and status. But, one never knows...
    +
    'These things I command you, that you love one another.' - Jesus Christ

  4. #3
    Member bxm042's Avatar
    Join Date
    Sep 2011
    Location
    the Independent Republic of Texas
    Posts
    6,219

    Default

    Quote Originally Posted by TER View Post
    It's anyone's guess, but taking history into account as well as the current monetary policy of the US, it is very hard to imagine a scenario where the US dollar will go back to its former glory and status. But, one never knows...
    The only way I can see that happening is if the US starts and wins World War III
    The Matrix is a system, Neo. That system is our enemy. But when you're inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save. But until we do, these people are still a part of that system and that makes them our enemy. You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it.

  5. #4
    Member
    Join Date
    Jul 2010
    Location
    Land of Indians
    Posts
    24,898

    Default

    There is no hope for the paper dollar, but that is just my opinion, based on math.Thankfully , I have dollars that are not paper. My goal is to be in a position where I do not even need those ( no need to buy anything ) .

  6. #5
    Member
    Join Date
    Apr 2010
    Location
    Wallingford, CT & Eastern Shore, VA
    Posts
    1,625

    Default

    Quote Originally Posted by kety View Post
    China and Russia are doing everything to collapse dollar as world's reserve currency.
    I think you mean the Federal Reserve and US Government. Other countries want out of the dollar because of what those two are doing.

    I don't believe the destruction of the dollar is reversible. I also don't believe a complete rejection of the dollar as the world's reserve currency is going to occur in the immediate future, but it will probably happen before the end of this decade.

    Part of the problem is that the world will need to agree on a replacement as a reserve currency, and right now, there aren't any good options. Chinese Renminmbi is to restricted, Yen as the reserve currency would drive up the price of Yen to the point that it would ruin Japan's export based economy without such massive intervention that it would render pointless the purpose of holding Yen as a reserve, and the Euro is fracturing from within. There isn't anything else. Gold could fill the role, but the world isn't ready, yet, and that means the dollar still has a little time left.

  7. #6
    Member
    Join Date
    Jul 2010
    Location
    Land of Indians
    Posts
    24,898

    Default

    The fact that there are no options is the only thing keeping it alive now, once there is , toast.

  8. #7
    Member kety's Avatar
    Join Date
    Nov 2012
    Location
    Novi Sad, Serbia, Europe
    Posts
    16

    Default

    I think you mean the Federal Reserve and US Government. Other countries want out of the dollar because of what those two are doing.
    It could be said that way.

    But don't forget just one thing, Russia in the 90's has tried to replace dollar as reserve currency too, so I think she specifically waited for the opportunity given by your government and the Federal Reserve to destroy American economic hegemony.

    Basically, I have nothing against the U.S. however, I'm not glad that countries like Russia and former Soviet Union states are rising again.

    My state is her only alliance in Europe and believe me, their principles are still extremely racist and fascistic. Same in my country unfortunately.

    Eastern world leaded by China as communist country and Russia as fascist one, it scares me a little bit, so I'm not feeling a lot save for the future.

    I don't believe the destruction of the dollar is reversible.
    If it happens that scenario, what will be the consequences for the United States?

    Will the standard of living of American citizens drop drastically once the dollar loses his reserve currency status?

    Will that lead to dramatic budget cuts?

    The fact that there are no options is the only thing keeping it alive now, once there is , toast.
    As I can see, you all agree that a bad future of US dollar is inevitable...

    I have dollars that are not paper.
    What do you mean by that?
    (if it's not a secret of course)

    It's anyone's guess, but taking history into account as well as the current monetary policy of the US, it is very hard to imagine a scenario where the US dollar will go back to its former glory and status. But, one never knows...
    So, you think that US will become a new fallen empire, like UK?

    Ivana.
    Last edited by kety; 12-14-2012 at 01:43 PM.

  9. #8

    Default

    Quote Originally Posted by kety View Post
    What do you mean by that?
    (if it's not a secret of course)
    It means he has physical assets that are actually worth something in some way (gold, silver, land, etc).

  10. #9
    Member kety's Avatar
    Join Date
    Nov 2012
    Location
    Novi Sad, Serbia, Europe
    Posts
    16

    Default

    It means he has physical assets that are actually worth something in some way (gold, silver, land, etc).
    Thanks.

    I assumed, yet I asked, just in case.

    Ivana.

  11. #10
    Member
    Join Date
    Jul 2010
    Location
    Land of Indians
    Posts
    24,898

    Default

    Quote Originally Posted by VBRonPaulFan View Post
    It means he has physical assets that are actually worth something in some way (gold, silver, land, etc).
    Correct , land , timber, tillable that is pd for( as long as I keep paying the property tax in dubious FRN's ) I will need to do that until I am sure the Sherriff will no longer show up to auction it, honestly, I will not mind that particular part of a collapse , I have copper , silver , silver dollars ( real dollars ), some old 1850's gold dollars , California Territory gold 1/2 and 1/4 dollars from the same time period, scrap , Weapons , ammo , water ,ability to feed myself ( food stores , onions, potatoes , deer, rabbits, chickens, turkeys , fish , squirrels etc ),seeds , access to panning gold dust if needed, heat and some light without electric. Things of real value, not paper.

  12. #11
    Member
    Join Date
    Jul 2010
    Location
    Land of Indians
    Posts
    24,898

    Default

    Oh , I have other things , the usual crap , stocks, bonds , in the end , it is only paper , ask me what my pre Govt GM stock is worth , lol.

  13. #12
    Member
    Join Date
    Jul 2010
    Location
    Land of Indians
    Posts
    24,898

    Default

    Quote Originally Posted by kety View Post
    It could be said that way.

    But don't forget just one thing, Russia in the 90's has tried to replace dollar as reserve currency too, so I think she specifically waited for the opportunity given by your government and the Federal Reserve to destroy American economic hegemony.

    Basically, I have nothing against the U.S. however, I'm not glad that countries like Russia and former Soviet Union states are rising again.
    My state is her only alliance in Europe and believe me, their principles are still extremely racist and fascistic. Same in my country unfortunately.

    Eastern world leaded by China as communist country and Russia as fascist one, it scares me a little bit, so I'm not feeling a lot save for the future.



    If it happens that scenario, what will be the consequences for the United States?

    Will the standard of living of American citizens drop drastically once the dollar loses his reserve currency status?

    Will that lead to dramatic budget cuts?



    As I can see, you all agree that a bad future of US dollar is inevitable...



    What do you mean by that?
    (if it's not a secret of course)



    So, you think that US will become a new fallen empire, like UK?

    Ivana.
    I only keep secrets from my wife , she has no real idea we are not poor. Where she grew up , if you had shoes, went to school , all the acreage was plowed in the spring, life was good , LOL , for real.

  14. #13

    Default

    Quote Originally Posted by oyarde View Post
    I only keep secrets from my wife , she has no real idea we are not poor. Where she grew up , if you had shoes, went to school , all the acreage was plowed in the spring, life was good , LOL , for real.
    So you haven't told the wifey about your Great Kingdom?
    Quote Originally Posted by Ron Paul
    The government is incapable of doing what it's supposed to do. A job like the provision of security is something best left to private institutions.
    My music/art page is here"government is the enemy of liberty"-RP
    That which doesn't kill me has made a grave tactical error
    Quote Originally Posted by Anti Federalist View Post
    This whole board is a thoughtcrime in progress.
    Quote Originally Posted by danke View Post
    I carry my man purse for fashion, not function.

  15. #14
    Member
    Join Date
    Jul 2010
    Location
    Land of Indians
    Posts
    24,898

    Default

    Quote Originally Posted by heavenlyboy34 View Post
    So you haven't told the wifey about your Great Kingdom?
    She sees it , probably thinks we owe more on it, you know, those 30 year loans & such

  16. #15
    Member
    Join Date
    Jul 2010
    Location
    Land of Indians
    Posts
    24,898

    Default

    She will out live me, figured I should make sure I leave her something

  17. #16
    Member
    Join Date
    Apr 2010
    Location
    Wallingford, CT & Eastern Shore, VA
    Posts
    1,625

    Default

    Quote Originally Posted by kety View Post
    If it happens that scenario, what will be the consequences for the United States?

    Will the standard of living of American citizens drop drastically once the dollar loses his reserve currency status?
    When the world tries to dump dollars, they have to do it by purchasing US goods and assets and refusing to sell us stuff which they produce. The US trade deficit will vanish and the US will become a net exporter, which many Americans will foolishly celebrate. But all that buying of US goods and the inability to buy foreign goods will drive domestic prices sky high. American's standard of living will certainly drop. The rest of the world may see rising unemployment as US consumption falls, at least until resources are reallocated, and prices outside the US will be volatile, but should not sky rocket like they will here.

    Quote Originally Posted by kety View Post
    Will that lead to dramatic budget cuts?
    Eventually, yes, but after the rest of the world rejects the dollar, the Federal Reserve will just print money to cover the deficit, which will further fuel price increases. Americans will continue to have faith in dollars for a time after the rest of the world ceases to do so, and the habit of issuing debt and printing money to fund deficits will not be broken so easily. Serious budget cuts won't happen until the dollar dies in America.

    Quote Originally Posted by kety View Post
    So, you think that US will become a new fallen empire, like UK?
    Not unless states begin seceding and America breaks into several different countries. As a whole the US has to many resources, to much infrastructure, and to much military hardware to fall to far permanently. The crash will be very hard, but the US will likely recover with shocking speed. Hopefully we'll have a better government on the other side or we'll just end up doing it all over.
    Last edited by enoch150; 12-14-2012 at 04:36 PM.

  18. #17

    Default

    I think the true enemy of the dollar is the dollar itself.

    Whenever they print some up out of thin air it is counterfeiting the money supply. They don't create anything that adds to the wealth of world, it just shifts the property lines of the worlds wealth over to them.

    All of the games with printing cash and then printing up bonds can't change the fact they are ripping everyone off off, not only of our savings for the future, but it is stealing our present.

    People are starting to catch on. It is pretty obvious. Then when you start to pull out of the haze things become really clear. We are an deep trouble.

    No matter how much honest hard earned money we can come up with to build our world the way we want, others can fire up the fake money presses for what ever it takes to dictate their will!

    "others can fire up the fake money presses for what ever it takes to dictate their will!"



  19. #18
    Member kety's Avatar
    Join Date
    Nov 2012
    Location
    Novi Sad, Serbia, Europe
    Posts
    16

    Default

    From today, Serbia and China are doing trade without dollar.

  20. #19

    Default

    Quote Originally Posted by kety View Post
    Therefore, I would like to know your opinion about future of the dollar and his geopolitical influence? Will US be able to succeed to save their currency in present form, precisely, will be able to regain its former glory or the dollar will continue to fall down?

    Best wishes,
    Ivana.
    The Fed has already failed trying to transition to Special Drawing Rights using the IMF. Now that B.R.I.C.S. block is aware of the value of gold the geo-political influence of the US will wane and will only be held up by US forces for a time. I want to see what 2015-16 brings, once the BRICS block trade agreements are finalized we may see how investors react. Will a flight happen in that time frame or just before is what I'm interested in.
    For the Republic! For the Cause!
    The Truth About Central Banking and Business Cycles
    http://www.youtube.com/watch?v=YaxIPPMR3fI#t=186

  21. #20
    Member
    Join Date
    Jul 2010
    Location
    Land of Indians
    Posts
    24,898

    Default

    Quote Originally Posted by Athan View Post
    The Fed has already failed trying to transition to Special Drawing Rights using the IMF. Now that B.R.I.C.S. block is aware of the value of gold the geo-political influence of the US will wane and will only be held up by US forces for a time. I want to see what 2015-16 brings, once the BRICS block trade agreements are finalized we may see how investors react. Will a flight happen in that time frame or just before is what I'm interested in.
    I can only surmise, 2016 - 2018 , dollar is toast .

  22. #21

    Default

    Still the best-worst currency in the world. I'm still accepting dollars.

  23. #22

    Default

    I love how people become so enamored with fiat. Every currency on the planet is just a bunch of 1's and 0's on a server somewhere. It really is going to be sad when this whole system blows up. People who have saved for lifetimes will see huge portions of their hard work evaporate over night. Best advice would be to hold gold&silver/essential commodities/real estate/nuclear meltdown consumer staple stocks.

  24. #23
    Member kety's Avatar
    Join Date
    Nov 2012
    Location
    Novi Sad, Serbia, Europe
    Posts
    16

    Default

    I want to see what 2015-16 brings, once the BRICS block trade agreements are finalized we may see how investors react. Will a flight happen in that time frame or just before is what I'm interested in.
    You mean their trade agreements will be finalized as todays agreements cease to exist or they'll sign a new agreements within the block?

    Ivana.

  25. #24

    Default

    Anybody who's dissatisfied with dollars, please, give them to me!

  26. #25
    Member Zippyjuan's Avatar
    Join Date
    Feb 2008
    Location
    Hosting FEMA Party
    Posts
    19,579

    Default

    Quote Originally Posted by DFF View Post
    Anybody who's dissatisfied with dollars, please, give them to me!
    Or me. If you think they are worth nothing- that is what I am willing to offer you for them.
    I am Zippy and I approve of this message. But you don't have to.

  27. #26

    Default

    I had a pretty long running thread on this going a few years ago.

    Destruction of the US dollar
    http://www.ronpaulforums.com/showthr...ht=destruction
    "Let it not be said that we did nothing." - Ron Paul

    Internet shills exposed: (Yes, there are plenty on RPF)
    http://the-tap.blogspot.com/2012/10/...eyre-real.html

    Why most RPF members are against the US involvement with Israel explained by Mini-Me:
    http://www.ronpaulforums.com/showthread.php?t=218093
    No anti-semitism, just logic.

    Visiting the Outer Banks of NC?
    Outer Banks Fishing Boat Rentals

  28. #27
    Member kety's Avatar
    Join Date
    Nov 2012
    Location
    Novi Sad, Serbia, Europe
    Posts
    16

    Default

    From today, Bosnia and Herzegovina are doing direct trade with China.

  29. #28

    Default

    Quote Originally Posted by kety View Post
    From today, Bosnia and Herzegovina are doing direct trade with China.
    What is the significance of this? Did they cease using dollars for trade recently? Elaborate please.
    "Let it not be said that we did nothing." - Ron Paul

    Internet shills exposed: (Yes, there are plenty on RPF)
    http://the-tap.blogspot.com/2012/10/...eyre-real.html

    Why most RPF members are against the US involvement with Israel explained by Mini-Me:
    http://www.ronpaulforums.com/showthread.php?t=218093
    No anti-semitism, just logic.

    Visiting the Outer Banks of NC?
    Outer Banks Fishing Boat Rentals

  30. #29

    Default

    Quote Originally Posted by Jordan View Post
    Still the best-worst currency in the world. I'm still accepting dollars.
    People were accepting hyper-inflating Weimar Deutschmarks too - getting paid three times a day so they could run to the store and spend them before they lost too much value. Even during the obvious freefall in value people were still accepting them. So the fact that a currency is still being accepted says very little about whether or not it is a good place to store wealth or whether or not it will still be accepted a year from now. At this point it says more about the tremendous power of habit and the economic momentum of the nation that was once the home of liberty.
    The proper concern of society is the preservation of individual freedom; the proper concern of the individual is the harmony of society.

    "Who would be free, themselves must strike the blow." - Byron

    "Who overcomes by force, hath overcome but half his foe." - Milton

  31. #30
    Member kety's Avatar
    Join Date
    Nov 2012
    Location
    Novi Sad, Serbia, Europe
    Posts
    16

    Default

    Quote Originally Posted by devil21 View Post
    What is the significance of this? Did they cease using dollars for trade recently? Elaborate please.
    Yes, they are using now their own currencies for trade and invesments.

Page 1 of 2 12 LastLast




« Previous Thread | Next Thread »


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •