People around the world get rid of the dollar due to a default in the U.S.

[Vlad_Russian]

People around the world get rid of the dollar due to a default in the U.S.

The dollar is a big pyramid scheme that has existed for many years due to the inclusion of new members - the poor countries where America is planted his capitalist "democracy." Any pyramid scheme collapses when the end members. The dollar is just paper.

 

[Douger]

They're six years late.

 

[Vlad_Russian]

They're six years late.

Why?

 

[BoycottTheday]

They're six years late.

Why?

Huh what? Old news Dude.

 

[CrusaderFrank]

The dollar is the world currency no matter how much the Macaca in the White House wants to destroy it

 

[Douger]

They're six years late.

Why?

Simple math.

 

[BoycottTheday]

I think its the next bubble to burst imho.

 

[Iridescence]

I think its the next bubble to burst imho.

You mean there's more?

 

[editec]

That is an excellent representation of what is going on.

Thanks!

 

[LordBrownTrout]

People around the world get rid of the dollar due to a default in the U.S.

The dollar is a big pyramid scheme that has existed for many years due to the inclusion of new members - the poor countries where America is planted his capitalist "democracy." Any pyramid scheme collapses when the end members. The dollar is just paper.

So you're cheering away huh. I bet you're also sympathetic to these socialist leeches who are looting, stealing, killing, around the world.

 

[waltky]

Dollar takin' a beatin' - gas, gold prices goin' up...

Oil Prices Climb for Sixth Day on Weaker Dollar, Progress in Europe
10/12/11 - Oil prices were rallying for a sixth consecutive day on signs that the eurozone was coming closer to agreeing on a solution for its massive debt woes and a weaker dollar.

The December Brent crude oil contract was gaining $1.15 to $109.20 a barrel and West Texas Intermediate (WTI) light sweet crude oil for November delivery was rising 29 cents to $86.10. The Dow was up more than 150 points and the U.S. dollar index was slumping by 0.9%. In another sign that Europe is nearing a resolution to its debt crisis, political parties in Slovakia agreed to let the country's parliament approve an expansion of the European Financial Stability Facility by Friday at the latest. The announcement came a day after Slovakia voted against the measure, making it the only eurozone country to oppose the July 21 agreement to increase the fund.

Also, the European Commission has recommended that Greece receive another round of bailout funding and that a permanent eurozone rescue fund be launched by the middle of next year. Crude oil prices "are now well above the median, green Bollinger band [technical analytic tool]. While this gives them a certain amount of bullish credit on the charts, it also takes us to that point where prices may now have a limited upside. Prices are starting to get overbought," warn Cameron Hanover analysts. "That does not mean that they have to sell off here soon, but it does suggest that the upside is going to be more difficult to sustain from here," they added.

As oil prices remain at relatively high levels, and with oil continuing to be the most striking and profitable piece of their earnings profiles, big oil companies such as Chevron, Exxon Mobil and ConocoPhillips are expected to handily beat expectations in this quarter, according to energy trader Dan Dicker. The latest MasterCard SpendingPulse gasoline demand report shows that gasoline consumption continued to decrease as prices at the pump are still more than 23.2% higher than a year ago for the week ended Oct. 7. This, even though prices have posted a noticeable decline in the last four weeks.

The report says U.S. motor gasoline demand decreased by 2.5% for the week ended Oct. 7 compared with the same time a year ago, while the four-week moving average posted its twenty-ninth consecutive year-over-year decline, down 2.3% compared to a similar period last year. A macro-economic indicator, SpendingPulse reports on national retail sales and is based on aggregate sales and services activity in the MasterCard payments network. Carrizo Oil & Gas was gaining 3% to $23.09; Gulfport Energy was adding 4.4% to $27.83; China North East Petroleum was advancing 4.3% to $2.18; and PetroChina was rising 3.8% to $120.99.

Source

See also:

Weak Dollar Pushes Gold Prices Higher
10/12/11 - Gold prices catapulted towards $1,700 an ounce on a weaker U.S. dollar and momentum buying.

Gold for December delivery added $21.60 to settle at $1,682.60 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,693.90 and as low as $1,662 an ounce while the spot gold price was up $16, according to Kitco's gold index. Silver prices added 79 cents to settle at $32.78 an ounce while the U.S. dollar index was losing 0.92% at $76.90. Gold prices rallied as a weaker U.S. dollar made the metal cheaper to buy in other currencies and as traders jumped into the market on a technical breakout.

"We believed a higher trading range [was] imminent after $1,675," says George Gero, senior vice president for RBC Capital Markets, as "better momentum, higher volume, higher moving averages and higher open interest came into play." Gero says gold could find more support as a continued rally in stocks is giving money managers more cash to add to gold positions. Bob Haber, CEO of Haber Trilix, also pointed out that sentiment had gotten very pessimistic surrounding gold after its 10% September correction. "[We are seeing a] record change in pessimism from a few weeks ago ... creating a base here short term that will set [gold] up for a big rally."

Haber is long term bullish but thinks gold prices will be choppy in the near term as they shake out that pessimism as well as the metal's recent positive correlation to stocks. One belief emerging is that both stocks and gold are moving higher on hopes that Eurozone leaders will come up with a plan to recapitalize banks. Stocks are reacting to the possibility of decisive action from Europe to contain its sovereign debt crisis while gold is moving higher on the assumption that the European Central Bank will be forced to pump more money into the system.

"We feel like we're one announcement away from reigniting a gold rally," says Haber that "somehow through some kind of TARP-type thing ... [the ECB] will print money out of thin air." If China or Brazil lowers interest rates or if the Federal Reserve announces another stimulus, both could serve to be a catalyst for gold prices. "That is the last barrier for gold to come out of this holding pattern." The release of minutes from the Fed's Federal Open Market Committee September shed little light on the question of further monetary easing in the U.S. Another round of stimulus was definitely on the table but many presidents felt that a big asset purchase program might just raise inflation and not jump-start the economy. If deflation was triggered -- lower prices -- then more easing could be in the cards. Gold prices held steady after the release.

Source

 

[Avatar4321]

You're wrong. The dollar isn't just paper.

Technically it's cloth.