Sunday, June 21, 2009

Death of the Dollar or Life Support a Bit Longer?

Sorry I have been so lazy lately. I really hate the summertime here in Arizona-I wish I could hibernate from May through September! I found this article and thought it was interesting, as the topic it talks about could have severe ramifications for not only people in the United States but around the world. I know if I was a foreign nation holding a bunch of bucks I would be feeling really uneasy right now. I think it is great that those Chinese folk laughed in our Treasury Secretary's face when he said he believed in a strong dollar-cool stuff Chinese folk-I might even try that Feng Shui crap out and see if it makes my life any better! I do think that for a while-who knows how long-it will be hard to find a replacement for the dollar as the world's reserve currency. I look at the news sometimes and all I can think is god we are so fucked! Like the article states with a degree of humor-or humour to my overseas friends:)-the dollar has been presumed dead more times than the lead singer of The Pogues so handle this information with care. But no one-as Timothy Geithner learned-can say with a straight (or gay-haha-sorry lame humor again) face that the dollar doesn't have its problems. The buck has lost more than a quarter of its value when weighed against a basket of foreign currencies just since 2002. Love you all and hope have had -or a finishing up having a great weekend! Article Here
Another article about Japan abolishing cash to fight deflation-I think throwing cash into "the garbage bin of history" (god I hate to quote the bozo who said that-haha!) has long been a goal of the People That Really Run The World or the PTRRTW as I call them:) all the better to track the movements and desires of The People That Don't Run The World or TPTDRTW as I call them-article Here It is coming quickly-the future-unlike me-I take awhile-sorry more lame humor-what the hell is wrong with me today? All the best!


X. Dell said...

Interesting. From what I understand, the dollar's value results from two things: the necessity of foreign governments to have it on hand, thus driving the value up because of supply and demand; and international goodwill.

When Saddam Hussein proposed pricing Iraqi oil in Euros (shortly before the war), this would have had a dramatic effect on the dollar. The lending of money from a number of governments (among thm China) and the spending on wars that don't feed money back into the US economy had a dramatic enough effect.

It would seem that we are screwed, huh?

Maybe. It depends on what we do here and now.

Devin said...

Hiya Xdell! thanks so much for your comment-great as always and very thoughtful in regards to this article -how could I have forgot Saddam Hussein and the Euro thing? for that alone i thank you! I agree that on the face of it we would seem to be just out and out screwed -but like the article points out and things I have seen myself -the dollar's demise has been predicted for a very long time-I remember seeing the first "agitated" reports in early 2005 -but it seems to me that the way money is created and controlled in this country cannot go on forever without some huge corrections. I think we are also helped now somewhat by the weakness in certain other foreign economies -it seems that the Euro bloc-the BRIC nations and so on have huge internal problems in one area or another as we do. This will be one of the most interesting stories to me to see how it plays out-and the geopolitics along with it. I think the era we are about to enter will test certain theories and conspiracy theories about the way the world is run and maybe we can give a thumbs up to some of them and throw some of them in the garbage. I used to think I knew a bit about (just a tiny little bit) about how the worlds cogs and gears turn-but find I am more mystified than ever now. best to you as always Xdell and I hope you are having a beautiful weekend!

Michael said...

Hi Devin. I ran across this article at Global Research that goes into a bit of detail about a recent conference in Russia (with China attending) that goes into some of the motivations behind other country's desires for a non-dollar vehicle of exchange, can't much say I blame them.

Apparently, eight years of war financed by coerced investment in the dollar has been enough. I'll always remember Cheney's famous line: "We did what we came here to do" or something to that effect, and I always wondered what he meant by that. Was it to ruin the dollar?

Anyway, been feeling kind of odd today also. Can't seem to concentrate. I guess I can't blame it on the heat, though! :-)

Cheers, Michael

Aggie said...

Well, it hasn't been the first currency to die a horrible death and it won't be the last given human history. It is what results from it's imminent demise thats interesting. Watch this space.

Sub Specie Aeternitatis said...

I think we are moving towards the cashless society as The Times article details as a possibility for Japan. Star Trek communitarian reality here we come! You won't mean owt unless you're Star Fleet!

Seriously I think that a transition to a cashless society will be the gateway to the abolition of the idea of currency as we know it. I think we're all on our way to it in the era of true globalization. It'll take a while though.

Autumnforest said...

You know, the only way it could go is electronic--horrifying! You know, in those futurist Sci-Fi movies the folks always have "credits" and everything is passed electronically. The ironic thing is that money may actually be more safe that way. Oh, and wash your hands after handling that dollar bill--it was handled by border drug traders.

Middle Ditch said...

I'm with X.Dell even though I don't always understand what's going on being a political nincompoop. X

Mike-Julie said...

Scary, especially being out of work for over 17 months and struggling to get by. I have put my application and resume in so many places and have not receive one call. I'm trying not to let it get me down, but watching the news is so depressing. BTW, I'm would love to get away from AZ for the summer too. It is so blazing hot!

Michael Skaggs said...

Have not paid much attention to the Medes lately, but did notice when I did a currency calculator the other day wit British Pounds v.s. American Dollars.

The "Amerro" is it? Will that be our new currency for North America? North America = Canada/U.S./Mexico, or NAU.

Funnily enough, I hate everything being Zeros and Ones, but if the Power to control those Zeros/Ones were more widespread rather than the hands of the PTBs, maybe it won't be so bad? Let's hope more are awakening and seeing that things can be done to make it harder for the PTBs to consolidate power.

Be well bro!

WV = irifying

eerie-fying? LOL

Devin said...

Michael thanks so very much for your comment and the link -really appreciate it-I will ask it here and then try to ask it at your site-puter connect is funny-are the probs concentrating sleep/worry? the sleep fairy:) didnt visit me again last night and i am beyond tired-thanks also for the Ole Whirl N Shoot (Cheney) reference! best to you as always!!
I think the link you so kindly provided is about a summit type thing that the US aksed to attend and was told no-I will look it up!

I am right with you there Aggie-very interesting times ahead with just this one issue! and you are very correct-many currencies have come to a bad end before and ours certainly wont be the last (I should say I hope it doesnt happen in NZ like I am afraid of here)best to you as always!!

Thanks for stopping by Sub Specie! I wish I could get some sort of feel for a better timetable -I agree that it wont be overnight-and perhaps not even the dumping of the dollar as the reserve currency-but somethings gotta give sometime-all the best!!

Autumnforest-I think that is one of the plusses that they will give cashless society when and if it happens-cause filthy lucre is really filthy (germy haha) what I am afraid of is the uses of yet more tracking and spying essentially on every kind of conceivable purchase-I can even envision something where it is noted a man or woman buys a lot of ice cream and cookies on their electronic card and causes their health insurance (providing they have any in this country! to go up)best as always!!

Middle Ditch-no worries there-I am still learning and then re-learning everyday -issues that I thought I had somewhat settled in my mind-thanks so much for stopping by and can't wait for the next episode of MD!!

Julie-I totally hear you there! I knew you were out of work but didn't realize you have been out almost as long as I have-would they have any openings for us in a colder climate I wonder-like Hell perhaps:)best as always and thanks for stopping by!!

Michael thanks so much for your comment! I am with you in hoping more and more people will wake up and not want this-but in a Natl emergency or a dollar crash I just dont know since that would be a terrifying thing for most people-Cool about the WV and best to you as always!!

to all of you thanks so very much for your thoughtful and intelligent comments! sorry i could not be more coherent-this insomnia is driving me up a wall-or perhaps tree:)-i dunno-There is a correlation that happens almost every time between the Dow Jones and the dollar-an inverse relationship -when one is down-other up a bit-and this relationship was explained very well at a site and I will try to find a link-the reason i mentioned it -it happened today to a degree-the DJ fell over two percent and the dollar up over 50 basis points-at least when i got online-thanks again all of you!!

Michael said...

Hi Devin, my sleep has been OK, so can't blame that either. But I HAVE had bouts of sleep deprivation and things can get pretty strange. Try to pay attention, and remember what seeped through when the layer between consciousness and the Id is so thin. Sometimes you find gold there.

Hope you get some sleep soon,


Nina said...

i read about japan's little lopsided idea. i think it's one we need to be paying close attention to as from what i've read, a cashless society is what the globalists eventually want. baaaaaaad idea for the people as it will mean everything we buy will be tracked. i like having something tangible in which to purchase something. and how on earth would people pay for things from private owners? i.e. garage sales, buying cars from private owners.

local currencies are springing up and are, i believe, an excellent alternative. we have one in our community, although maybe .0001% of local businesses take them. if such an idea is to grow, biz will have to climb onboard.

III am ready to hibernate to the coast during the summer--not for the heat but for the pollen. GAWD (ACHOOO)!!! we have one of the highest levels in the nation at the moment.

Alex Robinson said...

So Devin what's your opinion of the fiscal situation in regards... just kidding I don't speaka dat language, just thought I'd drop by anyway & wish you a 'cool' day - loved the humour by the way.
ATB :)

Devin said...

Michael I am so glad you are not struggling with it now-I wish I wasn't so obtuse and could get more information from my unconcious or that twilight time before you fall asleep-I had been asleep for a whole two hours this morn when loud talking outside woke my up at 4 am-so for whatever reason sleeping has been tough lately! thanks so much for stopping by and commenting-best as always!!

Nina I am there with you a hundred percent=with the electronic currency it is just the thought that say if you bought a book that disagreed with the govts version of sept 11 or things like that-THEY know!! and I also think the local currencies are a great idea-I first read about them what-3?? years ago and thought can this really work?? and apparently it does:)i hope the pollen situation gets better very soon there so you can enjoy summer -best as always!!

Alex thanks so much for stopping by!! and the cool day:) it may be a while for that but I will take anything now! I am not good at understanding financials either -like you said not my language-the only reason I ever tried to start to understand some of it is that when you study conspiracies etc-follow the money (or money trail) is a very useful idea-I also do not know why the USA has been intentionally gutted the last years-and have a terrible feeling we are about to find out! I am also glad about the humor-if things get any worse i may have to try stand up haha! hey they need someone to throw rotten veggies-or in my case fruits (yuck yuck:) and hurl insults at dont they? love ya!!:)

Michael said...

Hi Devin, haven't heard from you in a while, just checking in?


David Stewart said...

Hi Devin
Here in Canada whenever the value of the US dollar drops, the Canadian Dollar "appears" to rise in value. And of course that is the way the News and all it's commentators report it as well . . .no mention that the US$ has fallen; only that the $Cdn is raising . . . why our economy must be booming and our dollar in demand!! It's because they value of the Cdn$ is always given in $US - and most folks I know don't ever see that it is your dollar that has tanked and not that we have increased our value.
This is interesting in light of the reports and rumours of the Amero . . .If the plan is to introduce it when yours finally tanks, they will have a bit of trouble selling the idea up here if we have all been convinced of the illusion that our dollar has become stronger.
You have a great day down there is AZ sir - hope it has cooled some.

Ricardo said...

I hate the fact that the dollar has deflated. I used to love going up to Canada and spending freely.

I hate cash. I use my debit card.

Really all other countries have to do is call us on our debt and the greenback is history. China has us by the balls.

Devin said...

Michael thanks so much for stopping by-i have been having health probs lately but hope to be better soon! best to you as always!!

David thanks so much for your ideas views on this-I couldnt agree more! I am also sorry it took so long to publish your comment-i am a bit under the weather (strange saying:) lately-I hope you are having a splendid day in Canada also-best as always!!

Ricardo you have hit that nail on the head-if that happens we are truly fukt-probably the only reason it hasnt already is that with globalization so many nations are tied together-but I think China and others are losing patience with out insane economic policies-best to you as always!!