US recession over! (1 Viewer)

[Bjerknes]

Marc Faber On The Death Of Fiat Money - "Dollar Will Go To A Value Of Exactly Zero"

http://www.zerohedge.com/article/marc-faber-death-fiat-money-dollar-will-go-value-exactly-zero

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Faber has been correct more times than not, but has been wrong in the past. The deflation/inflation argument is one of the most rigorous debates, with people taking both sides of the issue. It's clear our central bank wants inflation, but others don't because they hold dollar reserves. If they take the currency debasement too far things will spiral out of control, and Faber will be right because of global perception.

Why Ben Bernanke would want to kill the dollar is beyond me. They kill it, they kill themselves.

 

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[ßöмßäяðîëя]

 

[IrishZebra]

Do you know what would have been a good idea for some governments?

getting rid of specualtive budgets, make the budget for what you got not what you hope to get

 

[Bjerknes]

What's so funny, Mikey?

 

[ßöмßäяðîëя]

What's so funny, Mikey?

"Dollar Will Go To A Value Of Exactly Zero"

Fucking hilarious.

 

[IrishZebra]

"Dollar Will Go To A Value Of Exactly Zero"

Fucking hilarious.

The Dollar is safe for at least another 100years

 

[Bjerknes]

The Dollar is safe for at least another 100years

That's not what the market is telling us, nor do the policy makers seem to care about the dollar. That's why the Fed keeps buying our own treasuries and purposely buying SDR's to debase it. Problem is the forex market is the largest market in the world and probably too big to control in the long run.

 

[ßöмßäяðîëя]

Even if it wasn't, the fact that people in this country would continue to use it as a form of exchange in private transactions by definition means it is a good monetary unit.

 

[ßöмßäяðîëя]

That's not what the market is telling us, nor do the policy makers seem to care about the dollar. That's why the Fed keeps buying our own treasuries and purposely buying SDR's to debase it. Problem is the forex market is the largest market in the world and probably too big to control.

Stop looking at "markets" like they are infallible and these guys like they are messiahs.

 

[IrishZebra]

That's not what the market is telling us, nor do the policy makers seem to care about the dollar. That's why the Fed keeps buying our own treasuries and purposely buying SDR's to debase it. Problem is the forex market is the largest market in the world and probably too big to control.

The only thing that could force the Dollar to zero Imo is if china followed Russia and switch the majority of its reserves to the Euro to the tune of about 200 Billion flooding the market, uless that happens it'll still be viable due to its huge domestic/regional base.

 

[Bjerknes]

People may continue to use it between each other if they're stupid, but institutions might not.

 

[IrishZebra]

People may continue to use it between each other if they're stupid, but institutions might not.

I suppose, whatever the BRIC goes for is the winner, if it's not the Dollar, the U.S. could well fall by the wayside.

 

[ßöмßäяðîëя]

The only thing that could force the Dollar to zero Imo is if china followed Russia and switch the majority of its reserves to the Euro to the tune of about 200 Billion flooding the market, uless that happens it'll still be viable due to its huge domestic/regional base.

Exactly.

People may continue to use it between each other if they're stupid, but institutions might not.

What else are people here going to use in private transactions? Euros? Yea, and get arrested, or teeth, but those are extremely limited and would be difficult to produce.

 

[IrishZebra]

Exactly.


What else are people here going to use in private transactions? Euros? Yea, and get arrested, or teeth, but those are extremely limited and would be difficult to produce.

why would people get arrested for using the euro??

 

[Bjerknes]

Stop looking at "markets" like they are infallible and these guys like they are messiahs.

The market is the market, dude. It is what it is. Sometimes it is irrational, but if people around the globe are rushing to get out of the dollar, it would be foolish to disregard it. Again, if you followed Ben Bernanke's advice, you'd be bankrupt through flipping houses you've been stuck with since 2007. This guy has been wrong 95% of the time, at least by his own words/lies to the public. Market > Bernanke.

The only thing that could force the Dollar to zero Imo is if china followed Russia and switch the majority of its reserves to the Euro to the tune of about 200 Billion flooding the market, uless that happens it'll still be viable due to its huge domestic/regional base.

When Tim Geithner goes to in front of Chinese econ students and gets literally laughed at when he says he wants a strong dollar, you know China is trying to hedge against its implosion. They even told their own citizens to buy gold and silver. It's certainly a possibility they'll say the hell with it.

 

[IrishZebra]

When Tim Geithner goes to in front of Chinese econ students and gets literally laughed at when he says he wants a strong dollar, you know China is trying to hedge against its implosion. They even told their own citizens to buy gold and silver. It's certainly a possibility they'll say the hell with it.

China doesn't want to los emoney, if they start selling over their dollar reserves bit by bit, I'd panic, well I wouldn't panic but you get my drift.


My EU thread isn't so ridiculous now

 

[ßöмßäяðîëя]

why would people get arrested for using the euro??

In the US?

It's not legal tended, so it can't be accepted, if you tried to pay in the Euro as legal tender it would be against the law, just as it would be against the law to NOT accept the dollar.

The market is the market, dude. It is what it is. Sometimes it is irrational, but if people around the globe are rushing to get out of the dollar, it would be foolish to disregard it. Again, if you followed Ben Bernanke's advice, you'd be bankrupt through flipping houses you've been stuck with since 2007. This guy has been wrong 95% of the time, at least by his own words/lies to the public. Market > Bernanke.



When Tim Geithner goes to in front of Chinese econ students and gets literally laughed at when he says he wants a strong dollar, you know China is trying to hedge against its implosion. They even told their own citizens to buy gold and silver. It's certainly a possibility they'll say the hell with it.

It isn't what it isn't.

 

[IrishZebra]

In the US?

It's not legal tended, so it can't be accepted, if you tried to pay in the Euro as legal tender it would be against the law, just as it would be against the law to NOT accept the dollar.

I thought you mean commerce-wise

 

[Bjerknes]

Exactly.


What else are people here going to use in private transactions? Euros? Yea, and get arrested, or teeth, but those are extremely limited and would be difficult to produce.

If people still use US dollars under that scenario, they'd have to pay astronomical prices for all goods, so I have no idea what they would do. Perhaps they would propose a new currency or use the new world currency/sdr system that is being proposed. But either way, there would be no middle class anymore as decades of wealth will have been inflated into oblivion, and I'm not talking a good O-game.

 

[ßöмßäяðîëя]