# The day the dollar died



## professor_frink (26 November 2010)

Found this one this morning on zerohedge



A glimpse into the future?

Or blatant scaremongering?


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## MissMoneyPenny (26 November 2010)

Interesting.

How would this effect Australia?


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## satanoperca (26 November 2010)

Cheers, 

A glimpse into the future.


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## Whiskers (26 November 2010)

professor_frink said:


> Found this one this morning on zerohedge
> 
> 
> A glimpse into the future?
> ...




Both eh!!!

Fits with my super sized crystal ball as indicated with my projections for the USDX. 




MissMoneyPenny said:


> Interesting.
> 
> How would this effect Australia?




Rather favouribly, I would think... so long as we don't sell of the farm entirely by then.


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## FxTrader (26 November 2010)

professor_frink said:


> A glimpse into the future?
> 
> Or blatant scaremongering?




Blatant scaremongering. Such a doomsday scenario is so improbable as to not be worthy of consideration. QE2 has been poorly received with other Fed members starting to show dissent so predicting QE4 is a joke. Having said this, if by some miracle QE3 even gets a mention I will start taking more defensive action.


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## c-unit (26 November 2010)

So long as economic illiterates occupy all key posts in the US, this day is inevitable


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## Sirloin Steak (26 November 2010)

professor_frink said:


> A glimpse into the future?
> 
> Or blatant scaremongering?




I like it, I wonder how much gold the guys who made that video have. If its supposed go be tea party propaganda its bloody impressive, almost like an economic horror movie. 

While there might be a great depression on the way I cant see how it would happen like that.

Dont know moneypenny but I would be interested to find out.


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## skc (26 November 2010)

Gold at US$4000 by that time would be about the same in $AUD today...

Personally I would long machine guns and bullets.


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## Sean K (27 November 2010)

skc said:


> Gold at US$4000 by that time would be about the same in $AUD today...



Yeah, I'm a bit confused.

Isn't POG meaningless while quoted in USD if USD is really dead.

For eg, If $1 AUD = $1000 USD then gold at $10000 USD isn't actually that much is it?  

Maybe I have that concept wrong.


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## Sean K (27 November 2010)

kennas said:


> Yeah, I'm a bit confused.
> 
> Isn't POG meaningless while quoted in USD if USD is really dead.
> 
> ...



I think I have the AUD / USD equation about face.


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## tinhat (12 December 2010)

I particularly liked the cameo appearance by our prime minister at about 50 secs - that was a nice touch. I bet that Kevin Rudd is pissed off about missing out on a role. Also, that Anton Enus broke the China boycott of QE4 story on SBS.


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## Smurf1976 (12 December 2010)

Given that fiat currencies have historically tended to end up dead, predicting the demise of another one seems a fairly safe bet subject to one condition:

WHEN?

The USD has already lost somewhere around 97% of its value since it was introduced, so it's well down the death pathway already...


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## Vicki (19 December 2010)

> Given that fiat currencies have historically tended to end up dead, predicting the demise of another one seems a fairly safe bet subject to one condition:
> 
> WHEN?
> 
> The USD has already lost somewhere around 97% of its value since it was introduced, so it's well down the death pathway already...




Hi Smurf,
I'm currently reading a book by Harry S Dent, 'the great depression ahead'.
It touches on the point that the Nixon govmnt. went off the gold standard in '71, but as yet, I haven't read why?

What benefits [if any] would they have percieved there to be in doing this?

Thanks in advance,
                          Vicki


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## It's Snake Pliskin (20 December 2010)

kennas said:


> Yeah, I'm a bit confused.
> 
> Isn't POG meaningless while quoted in USD if USD is really dead.
> 
> ...




Kennas, it most probably will be what you can do with the gold, not the dollar value of it. 
Tulip bulbs allowed people to get into property. It's a shift out of dollar thinking by preserving some wealth. 

Cheers...


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## Smurf1976 (20 December 2010)

Vicki said:


> Hi Smurf,
> I'm currently reading a book by Harry S Dent, 'the great depression ahead'.
> It touches on the point that the Nixon govmnt. went off the gold standard in '71, but as yet, I haven't read why?
> 
> ...



In short, going off the gold standard enabled them to effectively print and spend as much money as they wanted. Now, if you're a politician then the idea of having seemingly unlimited money is attractive for obvious reasons (until the consequences manifest - but someone else will be running the country by that time).

It was effectively a classic case of focusing on the short term and not worrying about tomorrow.


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## GumbyLearner (20 December 2010)

Smurf1976 said:


> not worrying about tomorrow.




Or worrying about today.  

http://www.youtube.com/watch?v=woHrtGxy5UQ&feature=channel


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## ZSlaveski (20 December 2010)

Gold has been a great store of wealth since the earliest days of civilisation. Nothing has changed. As western governments devalue their currencies and rack up mountains of debt, gold will remain the safest of safe havens.


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