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When and how fast will the dollar collapse?

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yardburd
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When and how fast will the dollar collapse?  Reply with quote  

Anyone who visits the usdebtclock.org website should be able to figure out that the amount of U.S. debt and the rate at which it is increasing is unsustainable. This fact (?) leads me to ask this question:
When will the rest of the world (Chinese) finally tire of financing our runaway spending, decide to cut their loses and dump the dollar?
When they do (not if), how fast will the dollar collapse? One day, one week,
one month or one year?
My uneducated guess is that when it comes, the collapse will be well under way in two days. The Government will, in an effort to stem the panic, impose wage and price controls, shut down the banks to stem the out-going flood of deposits and declare Martial Law to control the civil unrest which follows when sellers are reluctant to part with their goods for worthless Federal Reserve Notes. What follows is anyone's guess.
I will welcome anyone who can provide evidence that this scenario is the product of an over-active imagination.
Post Wed Nov 25, 2009 9:59 pm
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coaster
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Yes, it's the product of an over-active imagination, fueled by doomsters, gloomsters, and newsletter-writers. Because I've got news for you:

the US Dollar has BEEN collapsing for almost 100 years already ever since the creation of the Federal Reserve in 1913.

And has what you're worried about occurred?

Now, I've got some more news for you: the Chinese are locked into this arrangement just as much as we are, and it's just as much in their best interest to keep things muddling along as they are.

If you want the long story, I've posted at length on both the above previously.

~Tim~
Post Thu Nov 26, 2009 6:15 am
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yardburd
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Dollar collapse  Reply with quote  

Whew! I'm glad that you straightened me out on that one. Now all I have to do is convince Mastercard that we are in an endless symbiotic relationship where my debt limit is infinite and there is no reason for them to expect repayment.
Post Sun Nov 29, 2009 11:41 pm
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coaster
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Laughing Laughing Laughing
Just convince them that if they'll just wait they'll get their money. Of course, you'll be paying off today's debts with tomorrow's cheaper dollars. So.....

CHARGE!! CHARGE!! CHARGE!!

The government's not stupid -- pretty much all governments since money was created know this and have been taking full advantage of it.

~Tim~
Post Mon Nov 30, 2009 12:13 am
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