collapse of the dollar

[benevolance]

the fed has stopped publishing how much money they are printing and pumping into the economy... Meaning they do not want you to know how worthless your greenbacks are

They want to destroy the us greenback to pave the way for the amero

http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=53350

[glenn-k]

Not much of a surprise there. :-/

[benevolance]

sad thing is that the average american joe with money in the bank or tied up in greenbacks will get screwed as the dollar deflates like the Peso

I suspect that the rich elite will dump their currency well ahead of any collapse of the dollar...

the stockmarket and economy will crumble for a while though...as our money will buy nothing people will struggle...I am a little scared.. average people will have to start paying twice as much for gasoline and groceries...it will cripple the economy

My wife and I save a couple hundred every month...that would vanish quickly if the dollar crumbles and we have to spend twice as much to buy food and gas etc...

[glenn-k]

Hard to do in some of the country but that is also a place where the home garden can increase the amount of money available for other things.  In the winter around here one pepper can cost a dollar.  We have a bunch in the freezer as well as multi-pounds of tomatoes and winter squash to be harvested.  Inflation doesn't affect your homegrown food supply as much.

[jraabe]

Dollar deflation is the hidden tax - a way of paying off the years and years of deficit spending with cheaper "new" dollars.

Stay tuned folks, much more to come...

When the Chinese start floating their currency (after the Olympics?) we will really start to see the cost of living go up. Food prices in particular, will most likely never again be as low as we have grown to expect.

[benevolance]

My wife and I have talked about the possibility of having to scrape by with our savings while the market corrects itself following a collapse of the dollar

we are trying to prepare as much as one can prepare for something this catastrophic

[sparks]

The US dollar might be shrinking internationally, but the folks at my mortage company (not a ARM) and the local coffee shop seem to have no problem with taking my money. Sparks.

[glenn-k]

You got it -- soon they will have to raise prices to keep up.

[benevolance]

when the price spike starts to hit we are all F- You- C K'ed

That is when it all falls apart...Good cost twice as much because the dollar is worth half...And we in turn have 1/4 the buying power with our dollars because our dollars are worth half and goods just doubled in price

The only santuary if you can call it that is our debts are in US dollars so they cannot say we owe more or change the amounts... even if the dollar becomes worthless that is the currency of a debt.

Actually anyone with a huge mortage or something could make out okay...Cash in for ameros now.... and when they when the dollar collapses and the euro is worth twice as much as the dollar they can use their  euros to buy twice as many dollars and easily pay off mortages and such

Gee another way for the rich elite to have it over the rest of us...They will get a free land grab house grab opportunity just like when they crashed the stock market on purpose back in the 20's :-/

[glenn-k]

So you are implying that this one is not on purpose? :-?

[MountainDon]

I guess this is why I kept some of my Canadian holdings back home. Plus my CPP (Canada Pension Plan, the Canadian equivalent of Social Security) amounts (in US $) having been going up.

[glenn-k]

Great bonus, Don -- if you can only buy more with the dollars while you are getting more, eh?

[benevolance]

glenn I am not implying anything...My wife already thinks I am going nuts with all this conspiracy stuff

nothing in life is co-incidental though

[glenn-k]

[highlight][size=20]

[size=22]"The individual is handicapped by coming face to face with a conspiracy so monstrous he cannot believe it exists."[/size]
- J. Edgar Hoover

[/size][/highlight]

[jraabe]

On the topic of rising food prices...

"Food prices are rising fast. They're moving up at a 12% rate in the United States. In China, they're soaring at an 18% rate. The Chinese are poorer than Americans. So food is a bigger part of family expenses. According to the people who figure out the inflation rate in China, food is 37% of the total.

This puts the official inflation rate in China at 6.5%...alarmingly high. Naturally, the government is swinging into action and is almost sure to make the situation worse.

In the United States, meanwhile, people spend less of their income on food...so the inflation rate is less responsive to increases in the price of milk and wheat – both rising at spectacular rates. What's more, the feds take major cost items – notably food and energy – out of their 'core rate' calculations, on the grounds that...well...the rate will look a lot better without things that are moving up fast."

From: The Daily Reckoning


OK, just this little bit more... "The goal of late, degenerate managed-capitalism is to make it feel good for as long as possible...while disguising the pain. The costs - inflation, the fall of the dollar - are socialized, spread out among people who don't deserve them...and mostly don't understand what is going on. It won't be the debtors who pay their bills, in other words...instead, it will be consumers and wage earners. Central banks will bail out speculators and big banks, while also trying to make sure that the currency of record keeps going down. This will be good for those who borrowed and bad for those who saved. It will also be bad for anyone who has to buy gas or breakfast...or earn his money in dollars. That is, it will be bad for almost everyone."

[benevolance]

problem is that we cannot just walk into the bank today and buy ameros.. maybe we should be selling off everything we own and buying euros?

we will have them to spend when the dollar totally collapses