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Hate to sound like an alarmist....

percybpercyb Posts: 3,324 ✭✭✭✭
in Precious Metals
I keep hearing people talk about the eventual collapse of the US dollar and that gold and silver should be bought. I agree that people should buy gold and silver. But also I think the dollar is collapsing now and that it's no longer "when it will collapse."
"Poets are the unacknowledged legislators of the world." PBShelley

Comments

  • guitarwesguitarwes Posts: 9,266 ✭✭✭

    need to to have both on hand IMO.

    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
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  • derrybderryb Posts: 36,795 ✭✭✭✭✭
    you sound like an alarmist. It's ok, I'm one too!

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • PreTurbPreTurb Posts: 1,193 ✭✭✭
    watch out, your post is really going to irritate the "everything is fine" crowd

  • PreTurbPreTurb Posts: 1,193 ✭✭✭
    (the three of you know who you are) image
  • rpwrpw Posts: 235 ✭✭
    C'mon Percy, buck up!
    imageimage Small Size National Bank Note Type Set $5-$100
  • greatnortherncoingreatnortherncoin Posts: 412
    the usd has been dropping like a rock, why so much drop ?
    dont send sheep to kill a wolf...
  • Wolf359Wolf359 Posts: 7,656 ✭✭✭


    << <i>the usd has been dropping like a rock, why so much drop ? >>



    Desperation. No growth, and more debt. Central Banks all fighting each other. The Yen (Japan), Euro, Renminbi (China) all want to be lower than the other. A low currency makes your exports attractive and re-vitalizes your economy to put it in growth mode (in theory). So, after decades of a strong dollar policy, Bernanke is letting the dollar go. Our central bank will "win" because we can out-buy them all. So when they buy dollars to increase the dollar, we buy more of theirs...

    Suicide in other words is being played out. The US Treasury (Central Bank) will eventually default, but only after the other Central Banks default. That's where I think everything is heading. I think this is the end game.
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  • BearBear Posts: 18,953 ✭✭✭
    The Bear is with Mr Wolf on his description. We are approaching a crises point within the next 6-8 months.

    A little cash, a little gold, a little silver and a lot of Kaopectate and Pepto Bismol, when the run on the banks start.

    Panic is a funny thing to observe. It is 100% a state of mind, combined with a lemming trait. It will occur with a sudden

    lurch that will astound . Certainly, it will amaze our Government officials, that their BS is no longer working. A pox on all

    political parties, bring back the King and Queen. If necessary, I will even vote for the Jack.
    There once was a place called
    Camelotimage
  • derrybderryb Posts: 36,795 ✭✭✭✭✭


    << <i>the usd has been dropping like a rock, why so much drop ? >>


    Intentional devaluation to keep up with devaluation purposely taking place across the globe.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    My fiat currencies of choice continues to be the currency of choiceimage (besides gold)...................MJ

    The new reserve safe haven fiat currency.

    Dynamic duo Swiss

    Low unemployement, natural resourses deluxe and a surging economy. This currency also pays interest. Go figure.

    Dynamic duo Aussie
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    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • percybpercyb Posts: 3,324 ✭✭✭✭


    << <i>My fiat currencies of choice continues to be the currency of choiceimage (besides gold)...................MJ

    The new reserve safe haven fiat currency.

    Dynamic duo Swiss

    Low unemployement, natural resourses deluxe and a surging economy. This currency also pays interest. Go figure.

    Dynamic duo Aussie >>



    Certainly the Aussie dollar is backed by natural resources, although the Aussie Government would like to raise taxes on its mining companies.

    I was holding Canadian dollars until I sold them to buy stock in MOS.

    Edited to add that I fear the USA will default on it's debt. I can't see anyway out of this economic malaise.
    "Poets are the unacknowledged legislators of the world." PBShelley
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    The Canandian dollar is my largest physical holding of fiat currency. People, start buying more back bacon!!!! It's doing ok but it needs a nudge. Natural resources, job growth and the safest banks in the world.

    fiat holdings in order

    Cando
    Aussie
    Swiss
    Yen
    Swedish Krona
    NZ

    5% in dollars as I'm a USA citizen. Zero Euros and I mean zero. I'm in Spain right now and my ATM card doesn't work hereimage

    MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>I keep hearing people talk about the eventual collapse of the US dollar and that gold and silver should be bought. I agree that people should buy gold and silver. But also I think the dollar is collapsing now and that it's no longer "when it will collapse." >>



    The US $ is at about the same value as it was last year about this time, so what's so different this time around? The big money players will once again play their games & strengthen the $. It's been going on for years..... up & down, just like a roller coaster. Don't bet against the Greenback at these levels, you're going to get eaten alive.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭


    << <i>

    << <i>I keep hearing people talk about the eventual collapse of the US dollar and that gold and silver should be bought. I agree that people should buy gold and silver. But also I think the dollar is collapsing now and that it's no longer "when it will collapse." >>



    The US $ is at about the same value as it was last year about this time, so what's so different this time around? The big money players will once again play their games & strengthen the $. It's been going on for years..... up & down, just like a roller coaster. Don't bet against the Greenback at these levels, you're going to get eaten alive. >>



    What was the Euro a year ago? A lot has happened since then.
    Avid collector of GSA's.
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭


    << <i>

    << <i>I keep hearing people talk about the eventual collapse of the US dollar and that gold and silver should be bought. I agree that people should buy gold and silver. But also I think the dollar is collapsing now and that it's no longer "when it will collapse." >>



    The US $ is at about the same value as it was last year about this time, so what's so different this time around? The big money players will once again play their games & strengthen the $. It's been going on for years..... up & down, just like a roller coaster. Don't bet against the Greenback at these levels, you're going to get eaten alive. >>



    <so what's so different this time around?> Folks are wiser? I made my bets against the dollar a long time ago. ( I do hedge from time to time ). I've been rewarded and I sleep better at night. Except for tonight. Too much coffee. MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • goingbrokegoingbroke Posts: 1,410
    CHANGE: What you'll have left in your pocket after 4 years of this crew in DC
    Many successful BST transactions ajia
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  • CaptHenwayCaptHenway Posts: 32,123 ✭✭✭✭✭


    << <i>CHANGE: What you'll have left in your pocket after 4 years of this crew in DC >>



    The U.S. economy collapsed more than 20 months ago........
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • yellowkidyellowkid Posts: 5,486 ✭


    << <i>

    << <i>CHANGE: What you'll have left in your pocket after 4 years of this crew in DC >>



    The U.S. economy collapsed more than 20 months ago........ >>

    image

    Yes, the previous administration was doing such a fine job.image
  • yellowkidyellowkid Posts: 5,486 ✭


    << <i>

    << <i>I keep hearing people talk about the eventual collapse of the US dollar and that gold and silver should be bought. I agree that people should buy gold and silver. But also I think the dollar is collapsing now and that it's no longer "when it will collapse." >>



    The US $ is at about the same value as it was last year about this time, so what's so different this time around? The big money players will once again play their games & strengthen the $. It's been going on for years..... up & down, just like a roller coaster. Don't bet against the Greenback at these levels, you're going to get eaten alive. >>

    image

    Here's a place I agree with you, don't stick a fork in the dollar yet.image
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    What was the debt a year ago? More or less? What's the trajectory of spending going on look like?

    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>What was the Euro a year ago? >>



    $1.40 to one Euro ..... today it's $1.35 to one Euro ... still has way to go just to reach 2009 levels.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • ChrisRxChrisRx Posts: 5,619 ✭✭✭✭
    What are you going to buy a burger with?
    image
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>What are you going to buy a burger with? >>



    $$$$$
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    I post these from time to time before and after proposed moves.

    Hard to find any love on this chart for the dollar.
    Dollar three month daily

    Some slim support at 78, better support at 76 and major support at 72. There is no doubt that the dollar will rally from time to time before testing these support levels. A break through 72 is dangerous.
    Dollar three year weekly

    This index is weighted over 50% in the Euro so take it for what it's worth but it is the "official" index of the media. So in order for the $USD index to fall further the Euro will have to continue it's rally. The Euro is just as flawed as the dollar so it should be a wild ride. Check out FXA, FXC, FXE, FXY, FXF, FXB for individual currencies to drill down to see the real picture. It's pretty interesting. FWIW. MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    Did I hear it correctly that the Yen was at 79 to the dollar in 1945 ?

    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

  • percybpercyb Posts: 3,324 ✭✭✭✭


    << <i>
    fiat holdings in order

    Cando
    ---
    NZ

    5% in dollars as I'm a USA citizen. Zero Euros and I mean zero. I'm in Spain right now and my ATM card doesn't work hereimage

    MJ >>



    What is NZ??

    Also, is your ATM card in English?? Maybe those darn ATMs require cards in Spanish there in Madrid? image
    "Poets are the unacknowledged legislators of the world." PBShelley
  • MacCrimmonMacCrimmon Posts: 7,058 ✭✭✭


    << <i>

    << <i>
    fiat holdings in order

    Cando
    ---
    NZ

    5% in dollars as I'm a USA citizen. Zero Euros and I mean zero. I'm in Spain right now and my ATM card doesn't work hereimage

    MJ >>



    What is NZ??

    Also, is your ATM card in English?? Maybe those darn ATMs require cards in Spanish there in Madrid? image >>




    NZ = New Zealand Dollar, aka Kiwi

  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭


    << <i>Did I hear it correctly that the Yen was at 79 to the dollar in 1945 ? >>



    Interesting. Before or after the surrender? I've been traveling to Japan for several years now. It's been basically range bound between 120 to 100 during this time. It's super strong now in the low to mid 80's which sucks for me. I liked it when it was at 100. Easy to do the mathimage

    MJ

    edited for crappy sentence structure, poor spelling and a fat finger
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
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