. December 17, 2008 SouthAmerica: The person who moved this thread from the âEconomicsâ to the âPolitics & Religionâ Forum, most likely confused me with Nostradamus. Believe it or not â the foreign exchange rate affects the economics of a country such as the United States or any country for that matter. There is one meltdown that still is on the pipeline, it is on its way, and it will materialize in the future â the âMeltdown of the US dollar.â And you can read about it at: PANIC and the US Dollar. http://www.elitetrader.com/vb/showthread.php?s=&postid=2224990#post2224990 .
. December 17, 2008 SouthAmerica: Today, Wall Street and the Fed act as if it will be business as usual in the coming years. You have to be a complete idiot if you donât realize that in the coming years we are not going to have a major overreaction against the US financial ideology and its financial system â and a complete restructuring of the international monetary system â the system based on the US dollar â for all practical purposes is history. In the last 12 months ending October 31, 2008 the global stock markets lost $ 30 trillion dollars in value â about 40 percent of total value. Many countries that had sound economic and financial systems and had been following sound economic policies for many years saw their stock market melt overnight and their economic system being severely damaged as a result of a completely reckless economic and financial policies that have been followed in the United States in the last 8 years. The world is going to react not only to the US reckless economic and financial system, but also will react to the lost of credibility around the world regarding scandals, massive bailouts, and the demise of the US economic and capitalist system. You can bet on that! .
This will be the biggest headliner for much of 2009, which will naturally be eclipsed by a monster inflation. Will this be the end of U.S. hegemony? (no that ain't hedge money, stupid!)
What seems to be rather incredulous is that the very people that are the supposed overseers.... Are the very ones that just do not get it..... Everything has changed.... .......................................................... One real question that remains however is the question that comes up regarding all of the other fiat currencies..... Are these other currencies going to react on a one to one basis ? ......................................................... Another question is regarding structural change. One should question "Real Change".... Meaning that the idea that the incredible levels of debt can be maintained is rediculous..... The bottom line.....The US is a lot like a giant GM...... ................................................................................. Calamity forces change.....and the eradication of most of the deposits that the US had is a calamity by definition..... ............................................................................... Impose a 10% consumption tax.......no other taxes.... And let the chips fall where they may..... Who wants to flounder for the next 100 years......????? This is not a drill........ More directly.....blow it up...and start over again......from the ground up......who wants to live with the odor of a massive dead carcus every day......