professor_frink
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The day the dollar died
- Thread starter professor_frink
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Interesting.
How would this effect Australia?
How would this effect Australia?
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Cheers,
A glimpse into the future.
A glimpse into the future.
Whiskers
It's a small world
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Both eh!!!
Fits with my super sized crystal ball as indicated with my projections for the USDX.
Rather favouribly, I would think... so long as we don't sell of the farm entirely by then.
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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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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.
skc
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Gold at US$4000 by that time would be about the same in $AUD today...
Personally I would long machine guns and bullets.
Personally I would long machine guns and bullets.
Sean K
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I think I have the AUD / USD equation about face.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.
tinhat
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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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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...
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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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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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.
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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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).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
It was effectively a classic case of focusing on the short term and not worrying about tomorrow.
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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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