What does this image tell you?

[garybeck]

Dollar about to crash?
... me thinks it's been crashing.

me thinks we in deep doo doo.

[Richard Steele]

1. It's currently worth LESS than the Canadian dollar. There's no "about to" about it.

"It's dead, Jim."

[garybeck]

3. are we f-ked or what? n/t

[Richard Steele]

7. Well, when was the last time Canadian Dollars were worth more than ours? nm

[Zywiec]

13. The Canadian currency last closed above $1 on Nov. 25, 1976

and somehow, amazingly our country is still here.

[Toots]

14. That was also during an energy crisis but people around the world still

liked and respected America and Americans. That is no longer the case. When the entire world turns against us we are in more trouble than we would care to admit..The dollar will continue to slide and if you are smart you will invest in Euros or some other foreign currency.

[garybeck]

16. and when people start doing that, the dollar will slide even faster

into a tailspin and then we are really in for it.

still, it is a good idea to do it sooner than later - if you have any savings, converting some of it it to foreign currency seems like a good idea.

[garybeck]

5. I go to canada every month. I went to my american bank the other day

and bought a few month's spending money for canada. the sooner I buy it, the less I lose.

when do people start running to the bank to ask for their gold backup?

[wake.up.america]

2. I once did free lance work for the Americans and received dollars...

I do not bother any more.

[Kiouni]

4. How long before we start paying for things in Euros?

[garybeck]

6. that comes about 10 years after

the lines start growing at the soup kitchens

[MADem]

8. Buy low, sell high. NT

[WizardTN]

9. Free advice

1: Get out of the market....NOW
2: Buy silver bullion ... NOW
3: Get rid of the Fed.

btw garybeck ... There is NO gold backup

[garybeck]

15. Right, I realize there is no gold backup, but

what I'm saying is that people could run to the banks for a variety of reasons. For example just watching the value of the dollar go down so fast, people might want to cash out their dollars, to buy gold or foreign currency. Even if just say 10 percent of the people started cashing out their dollars things, it would make the dollar fall even faster and then we're in trouble.

[TreasonousBastard]

10. It tells me I shoulda bought gold. n/t

[quispquake]

11. So excuse my ignorance here...

I'm NOT an economic genius by any means...

But, if the dollar does crash, I have a couple of questions:

a) If I have a locked in mortgage rate, what will this mean?
b) I understand we will not be able to afford foreign goods...what does this mean for us buying food & our own goods here in the US?
c) Won't our 'outsourcing' suddenly stop if our buying power is gone?

I'm really curious about this...I've been expecting a crash, but I don't know if anyone really knows HOW BAD that could be...any info and I'd greatly appreciate it...As a family of five living week to week, I'd like to know what I can do to anticipate something like this...

[mainegreen]

12. Outsourcing is slowing down in IT/Tech for just that reason. n/t

[WizardTN]

18. You are better off than many

If you truly have a fixed mortgage rate, one that is not subject to any "adjustment" , then you will wind up paying later in dollars that are worth less. In the mortgage case, this is a good thing.

However, Your day to day purchases will most likely go up in paper dollar cost.
I note that everyone here is talking about buying gold. I said to buy silver.

1: It has a much lower price to get started. 750.00/oz for gold vs. 13.50/oz for silver.
2: If you really study the charts over the last 5 years, silver has outpaced gold on a percentage of increase basis by a remarkable number.
3: If the dollar really does tank drastically and we go into a deep recession or depression, the silver will be more readilly accepted due to it's low value vs. gold.

There are still a good number of what is called "junk" silver coins by the bag. These are pre 1965 coins that are not of a collectible quality but still contain 90% silver. You use them for their silver content, not their face value.
Check out the Northwest Mint. And study it till you understand it before buying anything.

[WizardTN]

19. Watch this type of thing also

Copper and nickel are increasing also:
Description Denomination Metal Value Metal % of Denomination
1909-1982 Cent (95% copper) * $0.01 $0.0248070 248.07%
1946-2007 Nickel $0.05 $0.0684049 136.80%


http://www.coinflation.com/

Unfortunatley, it increases the storage problem.
If you have a secure storage space though, it may be worthwhile.




Every day, I empty my pockets of all change and start with bills the next day.
About once a month I sort through the coins and keep anything that falls in the over 100% melt value.

Granted, it's a small thing by itself. But it adds up over time and can surprise you.
Think of what it means in respect to "survivalist" value.

[madokie]

17. Oh we are and its already starting to smell the place up

[alfredo]

20. If bush bankrupts us, they won't be able to pay Soc Security, for education,

or any other social program, environmental regulation,health, and law enforcement. We'd have to start all over again to build a civil society from the ground up.

They wouldn't do something like that on purpose? Would they?

[WizardTN]

21. Forget Bush

This is a "government" thing, brought on by the Federal Reserve system.

Do not delude yourself that it is in any way a party politics thing.

There is nothing "federal" about the Federal Reserve. It is a private corporation run by the bankers.

[alfredo]

22. But who ran up the debt? Who has been spending like

a drunken sailor? Who started a war then cut taxes?

One party controlled the purse strings all these years. The Fed had no control over bush invading Iraq or urged them to give no bid contracts to friendlies.