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The Dollar is Under Global Attack.
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President Obama was not full of his usual happy demeanor, after this weekend G-7 meeting. The G-7 refused to admit to the public they had discussed the dollar and proposals to rescue the dollar. Since the meeting, the dollar has lost value in major currencies markets around the world. The slide is on, and the bottom is unknown.
As the dollar falls citizens in our area and across America will see prices of imports climb. Electronic prices that have been falling over the last few years will start moving back up. Price increases in Imported clothing and food will also hit our already suffering citizens.
A falling dollar is not all bad; United States exports will be cheaper for most countries. The problem is America no longer has products from numerous industrial-manufacturing complexes to export. South American countries and some European countries are even challenging our farm and ranch markets around the world.
Another positive to a weak dollar, we will see an increase in foreign tourist. Their currency will buy them more. Hopefully, it will increase employment. They may even start buying more of America. But, I believe, China and Japan will be reluctant to invest in America real estate anytime soon and the current housing burst.
A falling dollar hurts countries that hold our debt, it is becoming worth less each month. Global governments, central banks, companies and investors continue to slash their dollar holdings. The Euro appears at the moment to be leading favorite currency of exchange.
More countries are calling for the World Bank and the International Monetary Fund to find alternatives to the United States dollar as the global standard of financial trading. Russia, China, and the OPEC countries are pushing for a single Global Currency.
The World Bank and IMF are holding meetings in Istanbul next week; discussions will be centered on proposals to replace the American dollar.
We can only guess and speculate if a Global currency becomes reality, how life in America will change, and when the attack on the dollar ends.
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Idiots!
They know who they are, The worlds record holders should put congress down as the largest gathering of "Stupid people".
If they do, I want a caption "John Lara pointed out, after the greatest world economic crisis since the Great Depression, that the United States Congress has officially become deserving of the title; largest regular gathering of the stupidest people in the world"
= p
October 8, 2009 at 4:32 p.m.ooops, it's "reshaping LEARNING from the ground up." Those are two words I'm ashamed to get confused. ;)
October 8, 2009 at 3:15 p.m.Ex,
I like Alvin Toffler's ideas on school reform: "Reshaping education from the ground up."
October 8, 2009 at 2:07 p.m.Why don't we just keep monetizing our debt and driving the value of the dollar down? After all, look how well that worked for Argentina.
October 7, 2009 at 4:53 p.m.The fractional-reserve banking Ponzi scheme is always a downward force on the dollar, as well.
October 7, 2009 at 10:47 a.m.The twin wars in Iraq and Afghanistan have been and are currently being financed on credit. That is the main reason for the decline in the dollar. The drain on the real economy by overextending our military all over the world is the principal cause. The second reason, and almost as important as the unfunded wars was the financial catastrophe that Wall St. created with the collateralized debt obligations and the credit default swaps. The trillions of dollars of necessary intervention to save the banks is borrowed money too. The dollar has a long way to fall and it may very well be replaced as the currency for international trade. There is already rumblings among OPEC members to seek a new way to value their production.
October 7, 2009 at 10:26 a.m.The dollar is toast!! The super-national institutions (IMF, WTO, World Bank) we've propped up with counterfeit dollars will likely issue another counterfeit currency to compete with the counterfeit dollar. Just another step toward global governance. Global money = global government.
Speaking of global government:
http://www.victoriaadvocate.com/weblo...
Never forget what the infamous central-banker Mayer Rothschild said:
“Give me control of a nation's money and I care not who makes its laws."
Dollar news:
October 7, 2009 at 9:21 a.m.http://www.independent.co.uk/news/bus...
http://www.washingtontimes.com/news/2...
http://news.yahoo.com/s/afp/financeec...
http://www.arabianbusiness.com/568241...
.
Alton
October 7, 2009 at 8:55 a.m.I am not as optimistic as you are with the regard to the upside of the things that happened to the dollar yesterday. I see the beginning of hyperinflation with our government's action to attempt to spend our way out of debt. This is not good news for us folks who live on fixed income.
Amazing isn't it, how it all boils down to money. The Euro concept has been around for about 10 years now. The bait and switch has been successful for the world powers. Offer lower wages for our products, start devaluation of the dollar, force companies to outsource their products. Devaluate the dollar more. I am almost ready to the get a bumper sticker that says let them walk, huddle closer for heat, and eat sand. Back to my 70's mentality.
October 7, 2009 at 7:44 a.m.