"You know, I'd actually like to see that." ---> Ok, then just open your history book to the chapter on how Tsarist Russia was transformed into the Soviet Union. More tragic than funny, actually.
here's the answer, a currency with an expiration date... like a can of soup... sounds like a plan there Benny..
I don't know what his knowledge of other markets is like but when it comes to forex the guy is a total doofus!
Let's not forget that weak USD is pretty bad news for counter currencies that become stronger as their produce becomes less & less competitive on international markets whereas it is the opposite for the USA. So when majority here take a stance that USD is getting more & more worthless ought to consider the following: 1. This world does not exactly work as we think it does; 2. You (American citizens) live in a developed country with an economy that actually produces 'stuff' that at times of a national credit crises HAS to find an increase in international buyers ie export HAS to increase; People, like Ivanovich (now a moderator) who I consider an intellectual person, have me on ignore simply because they don't like me saying things that might come out as unpatriotic, unpatriotic because I happen to have a point of view that is purely theoretical? I can say this, I consider myself a good trader, what I have learnt over time observing the p/a is that a lot of the time it is pretty deceiving especially the shorter the time frame. So you have to learn to decipher truth from BS. What helps is consider the opposite of what you are looking at & obviously looking at a broader picture. Don't just follow the lead, when you read a newspaper article do you analyse what you've read or do you take on an opinion of a person who's written an article? Low USD is not all that bad for USA. Don't you realise that? It's bad for businesses in other countries whose national currency grows against the USD.
That's just another BIG FAT LIE the politicos feed us. While a low dollar seems to be beneficial in the narrowest view and short run, in the big picture and long run, it's very, VERY bad for American citizens.
For anyone. Low dollar destroys savings, eats into purchasing power and spikes inflation. How is any of that good for the average American?
For that you have to define the status of an average American, from a statistical point. I thought an average American is with income of around $60k, mortgaged and doesn't travel that much outside US borders. Because this is such a broad subject we will not be able to tackle the question of whether "USD has no value" in a manner that will resolve anything. On the other hand if you are a high Net worth individual & do believe that USD will continue declining then surely you ought to consider switching your cash to another currency, or partly at least. Nothing wrong with that, I met an analyst from UBS once many moons ago & he told me that he keeps all his cash in CHF.