Are you ready for this? A $ now is going to be 15 Cents by 2011. Read on

[Beemar]

I am sure Lehman did all its speculative trading based on such forecasts.

One thing I have learned about all financial forecasts (stock prices, currency rates, housing prices etc etc), that it always goes wrong by wildest margins.

Originally Posted by minimalist

a $ to be 35Rs by 2009. See where the $ is at now and where Lehman bros is.

[sledge_hammer]

Hahaha! I can't believe I actually wasted 10 minutes of my time reading the whole article (instead I could have spent that time reading fox and cnn )

This guy Mike Adams, is nothing but a doomsday prophet! I mean -

One day, Americans will wake up and discover that all banks are on "bank holidays" (which means that someone in Washington is taking a holiday with your money while YOU can't access it).

Within hours, the National Guard will roll into the cities of the United States, and Americans will find themselves penniless prisoners in their own country. Anyone who protests will be arrested or shot. Law will be dispensed at the end of military rifles, and the President will get on television and explain how this is all being done for YOUR benefit! It's for your own safety and protection, didn't you know?

Is he for real? He must be spending too much time watching hollywood movies.

Originally Posted by gapala

http://www.counterthink.com/025688.html

[snathan]

Originally Posted by gapala

Have you read their latest 5 year plan? I will try to post the link to bullet points.. you will then be able to relate to this article. They have already realized the risk of USD dependency and reserve.. they will soon try to mitigate this risk along with other countries who are in line with their interest including Japan, middle eastern countries and India. See what is happening in G20 now.

On the other note, I can't imagine why people spit nasty words with "Red" even when you share an article. I respect the disagreement with the writer.. this is Rediculously Unbelievable, so called "highly skilled" workers I rest.

OK...let me believe that dollar is going to be 15 cents in 2011...so can you transfer all the money to IV account and I will give you 30 cents a dollar in 2011. Its 100% return for your money...

The truth is dont fall victim to this experts...here is what they said.

1. The rupee is going to be Rs.30 and now its in Rs.50+
2. When the crude was at its peek $147, Goldman sachs said its going to reach $200. The same idiot said its going to touch $25 when it fall back. But neither happened.

Yes, China and OPEC wants alternate for $$$....but whats the alternte.?

Pound, Yen, Euro all have their own problems....the only alternate is gold which is very limited. So far only 145K ton is mined and its total value is only 4.8 trillion.

Everyone wants alternate to $$$ but nothing is there. So no one wants the dollar to lose value. Because all those countries holding their biggest reserve in dollar.

[sanju]

Look gapala, excess of anything is bad. You cannot compare US economy with Zimbabwean economy. That's a far fetched exaggeration. Things are bad, and historical fatcs about Zimbabwean economy can be used effectively to scare people to prove a point about "Zimbabwean economy" NOT about what's going to happen to "US economy". To make sense of all the information floating out there, one needs to use a good filter to measure what is relevant and what is not. Things were bad in Oct-08 and it would have been bad if US government would not have intervened. However, things are getting better. It doesn't mean that US economy is out of the gutter, but things are getting better. And then you see these articles by folks like Eric and Cramer, which are an year late in telling about the hidden dangers.

To come out of the mess, government had to pump in resources. That was the only other way out. Its like taking a long term medicine to cure a terminal disease. But then you could exaggerate the side effects of the medicine arguing not to take the medicine. But again, you will die for sure for you won't take medicine. So what will you do? Will you take the medicine and see your health improve or will you worry about the side effects, and most likly, in time, those side effects will also have cures when you actually reach at that stage? So what will you do?

Human brain works on the principle of very simplictic logic. And for people living in a stable society, fear guides human behavior more than anything else. Some of that fear was exploted by Bush-Cheney after 9/11. And some of that fear is now being exploited by some of the so called gurus of economy.

There is always a chance that something terribly bad will happen in next 6 months. Who knows? I am not a fatallist and I reject any form of fear thrown at me to make me afraid of the future so that my behavior could be influenced. I filter such information out knowing that if things will go bad, it will happen to everyone and not just me. So we are all in this together. And because we are all in this together, every man, woman and child, I don't think it will turn out the way Eric described in this article. That's where I am. You can choose to be wherever you want to be.

[gapala]

Originally Posted by snathan

OK...let me believe that dollar is going to be 15 cents in 2011...so can you transfer all the money to IV account and I will give you 30 cents a dollar in 2011. Its 100% return for your money...
.

. giving you a tumbs up for that. If not IV, may be banks will do that to all of us.. if these folks are true in their predictions.

[sanju]

Originally Posted by sledge_hammer

Hahaha! I can't believe I actually wasted 10 minutes of my time reading the whole article (instead I could have spent that time reading fox and cnn )

This guy Mike Adams, is nothing but a doomsday prophet! I mean -

One day, Americans will wake up and discover that all banks are on "bank holidays" (which means that someone in Washington is taking a holiday with your money while YOU can't access it).

Within hours, the National Guard will roll into the cities of the United States, and Americans will find themselves penniless prisoners in their own country. Anyone who protests will be arrested or shot. Law will be dispensed at the end of military rifles, and the President will get on television and explain how this is all being done for YOUR benefit! It's for your own safety and protection, didn't you know?

Is he for real? He must be spending too much time watching hollywood movies.

Ya, looks like campagin commercial for National Riffle association. That's why we all need guns to protect us from the government. oh, and did someone say Jesus, oh we all need to adopt jesus our lord and savior so that he will protect us all from the sinners and satan. Please stop this.

I think Obama was right when he said in a fund raiser in San Franciso before his election that illitrate and ignorant people hang on to guns and god. The enemy number 1 of humanity is not some religion, or a nuclear device or some terrorist or some unknown star about to collide with earth, our enemy number 1 is our fear that is used by a few so that they can control how we will behave.




.

[gapala]

Originally Posted by sanju

There is always a chance that something terribly bad will happen in next 6 months. Who knows? I am not a fatallist and I reject any form of fear thrown at me to make me afraid of the future so that my behavior could be influenced. I filter such information out knowing that if things will go bad, it will happen to everyone and not just me. So we are all in this together. And because we are all in this together, every man, woman and child, I don't think it will turn out the way Eric described in this article. That's where I am. You can choose to be wherever you want to be.

Sanju, good to see your moralistic views on this. Now, I cannot speak on what is the objective of writers of article. I personally would like to stay optimistic on our future.

My intention of post is to discuss and gather the views/ideas from finance /economic savy members. This should not in any way fear people away and I apologize, if the post comes across that way. I would urge to keep this in perspective and counter the article with facts.. I am trying to collect facts on other side as well.. but I couldn;t find any other than just personal opinions by our members, in other news statements from Bernankie and treasury secratery and other folks.. and no statistics... unfortunately, they are the same folks who came up with this projections of 4500 Bn . I did not post any of those here (as no statistics). .to avoid nasty comments with reds

[sanju]

No apologies necessary gapala, you did good. We are all discussing here. You brought many good points of different possibilities and different people are discussing why or why not those possiblities are real threats, that's all. Its all good.

I seldom give red/green to anyone. But just gave you green. We are all dicussing here without the FEAR of green or red.

Originally Posted by gapala

Sanju, good to see your moralistic views on this. Now, I cannot speak on what is the objective of writers of article. I personally would like to stay optimistic on our future.

My intention of post is to discuss and gather the views/ideas from finance /economic savy members. This should not in any way fear people away and I apologize, if the post comes across that way. I would urge to keep this in perspective and counter the article with facts.. I am trying to collect facts on other side as well.. but I couldn;t find any other than just personal opinions by our members, in other news statements from Bernankie and treasury secratery and other folks.. and no statistics... unfortunately, they are the same folks who came up with this projections of 4500 Bn . I did not post any of those here (as no statistics). .to avoid nasty comments with reds

[vkannan]

Dudes, watch this wonderful presentation by one MR venkatesh on Gloabl Imbalance and $ crisis. Its about an hour presentation but worth a watch....


http://video.google.com/videoplay?do...98391323537541

[gapala]

Originally Posted by vkannan

Dudes, watch this wonderful presentation by one MR venkatesh on Gloabl Imbalance and $ crisis. Its about an hour presentation but worth a watch....
http://video.google.com/videoplay?do...98391323537541

There was a thread recently on this guy.. Not sure if its you who posted it, I have quoted his speach on page 1

Originally Posted by gapala

Many of us have seen the video posted recently by other member on the forum "speach by Mr. Venkatesh a year back" an economist in India. This is perfectly in line with his predictions.. See below.

Thanks for posting the link though.

[gapala]

http://immigrationvoice.org/forum/sh...803#post330803
This is amother post related to what we discuss here...
Diversification of foreign currency holdings to reduce risk of USD collapse?

[pointlesswait]

so what can china do..with all the treasury bonds..it holds.. Ghata..

u come across so many dooms day scenarios..its getting funny.

The world cant afford to devalue USD...
today China suggested that USD should not be the global reserve currency..so what soln does Mr.Ming have..will he let Yuan be the reserve.. then he can kiss his exports to US good bye..


for lack of a better alternative.. USD will remain strong...or rather they will keep it strong..

The recovery will be long and painful.. but i dont agree the the world will implode..;-)

Originally Posted by dummgelauft

Thanks Gapala, Dude you are a breath of fresh air on this forum. I have been saying this after doing exhaustive reading and research. This is going to happen, eve without the Fed doing anything to the monetary base.
Imagine the following two scenarios:
(1) China dumps al lor a big portion of the $4.0 TRILLION that they hold.
(2) OPEC unpegs itself from the dollar and starts trading in Euro or some other currency.

Any one of these will reduce the dollar to the status of Zim Dollar (google Zim dollar), but I sure you know what I am talking about. It is unwise to hold your savings in US dollars right now. Buy your wife al lthe gold she wants. You will be thankful you did.

Buckle down dude, it is gouing to be a bumby ride and a rough landing.

[gapala]

Originally Posted by pointlesswait

so what can china do..with all the treasury bonds..it holds.. Ghata..
u come across so many dooms day scenarios..its getting funny.

The world cant afford to devalue USD...
today China suggested that USD should not be the global reserve currency..so what soln does Mr.Ming have..will he let Yuan be the reserve.. then he can kiss his exports to US good bye..

for lack of a better alternative.. USD will remain strong...or rather they will keep it strong..

The recovery will be long and painful.. but i dont agree the the world will implode..;-)

Piece of "tissue" paper is their worry and risk.

I wish you were right and there was no alternative to USD for international trade.. But People's Bank of China Governor Zhou Xiaochuan is not talking just "empty gas". IMF uses something called "special drawing right" SDR Currency, now used mainly for accounting purposes only. He says this can be a viable alternative.... possibly can be!

Business week article link is above for reference on this one.

Lets see what happens in G20 summit.

[gcisadawg]

Originally Posted by dummgelauft

Thanks Gapala, Dude you are a breath of fresh air on this forum. I have been saying this after doing exhaustive reading and research. This is going to happen, eve without the Fed doing anything to the monetary base.
Imagine the following two scenarios:
(1) China dumps al lor a big portion of the $4.0 TRILLION that they hold.
(2) OPEC unpegs itself from the dollar and starts trading in Euro or some other currency.

Any one of these will reduce the dollar to the status of Zim Dollar (google Zim dollar), but I sure you know what I am talking about. It is unwise to hold your savings in US dollars right now. Buy your wife al lthe gold she wants. You will be thankful you did.

Buckle down dude, it is gouing to be a bumby ride and a rough landing.

China's reserves are only 2T and not 4T. More than US, China is worried about USD.
It will not do anything to jeopardize its reserves. China knows it has an upper hand and US is in trouble and it also knows US expects it to buy t-bills going forward. China will keep doing it as it helps to build its reserves and keep its factories up and running.

Imagine all the factories being shut down and people's revolution breaking out in people's republic. The people's party has to either use Military or bow to the power of people.

All the posturing by China like "make SDR as global super currency" is just to pressure US to get more voting rights for it in IMF. China wants a say in global financial management and rightly so.

Sure, there would be fluctuations. But this doomsday prediction is pure hogwash!

Once China starts dumping dollars, we would see another jolt like the one we saw when DOW was sliced in half! Will China take that step knowing that it is extremely detrimental to its well being?

-GCisadawg

[like_watching_paint_dry]

There's an old saying in Hindi - "Jiski laathi, uski bhains".

Bhains gives you milk, help pull your plow and reap grain, makes you self-sufficient. US has laathi - self sufficiency & military might. China does have a laathi too - a smaller one. It wants a bigger laathi - and this is a game about getting a bigger stick. That is just my guess. I dont think USD will melt overnight as long as it maintains self sufficiency, carries that big stick, and does not do something stoopid. That said, be smart - diversify.