It's gonna be awesome when the dollar collapses in 10-20 years

Discussion in 'Politics' started by LibertyLemming, Jan 11, 2013.

  1. LibertyLemming
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    LibertyLemming VIP Member

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    unless they do a global currency, then it'll suck.


    Looking forward to watching the topics change on USMB tho
     
  2. Nova78
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    Nova78 Silver Member

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    Government borrows 4 billion a day just to keep the lights on - generational welfare . We have a dysfunctional government, yet they walk around like they are skipping through the tulips.:cuckoo::cuckoo::cuckoo:
     
  3. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    What's gonna collapse it?
     
  4. LibertyLemming
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    LibertyLemming VIP Member

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    Where to start? Printing money? Massive debt? When our trading partners figure out that we’re no longer solvent, they’ll stop lending us money (that is, they’ll use their dollars to buy euros or yen or gold rather than U.S. bonds), and the value of the dollar will plunge. The process has already begun, with decreasing demand for dollars sending the value of the dollar down by more than a third in this decade. But this is just the beginning. Our currency isn't backed up by shit. Inflation is whats really going to kill it though.
     
  5. nodoginnafight
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    nodoginnafight No Party Affiliation

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    I'm guessing he will say, "Obama." (or a cutsey nickname for Obama)

    I'm late - and I stand corrected. My back - and apologies.
     
  6. LibertyLemming
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    LibertyLemming VIP Member

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    Obama isn't helping anything and is just next in a long line of Presidents who will have some fault in it happening.
     
  7. LordBrownTrout
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    LordBrownTrout Gold Member

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    Inflation leading to devaluing. Pretty simple.
     
  8. 007
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    007 Charter Member Supporting Member

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  9. nodoginnafight
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    nodoginnafight No Party Affiliation

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    Yeah I've heard the "hyper-inflation is immenent" war cry on these boards for many years now. I have yet to actually see it.

    Maybe it IS right around the corner, but you'll pardon my "little boy who cried wolf" lack of concern.
     
  10. LibertyLemming
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    LibertyLemming VIP Member

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    Yeah, I know I trust Government figures that inflation is around 2% despite the price of everything going up nonstop for decades in a row. I mean, why would they lie about it? It's not like it would cause the collapsing process to accelerate when everyone realized how worthless the dollar really is.

    "CBS News recently reported that the rate of inflation, as calculated by the American Institute for Economic Research (AIER), clocked in at a whopping 8% over the past year. This number is in stark contrast to the relatively modest inflation rate of 3.1% being reported by the government’s Bureau of Labor Statistics."

    I'd guess closer to 14%.
     

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