The New United States Currency - The New US Dollar.

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Qnome: To even suggest such a thing, you have to be totally ignorant of financial history.


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February 12, 2007

SouthAmerica: We live on the world of illusion today.

And the people in charge of the US government believe that “Debt does not matter.”

The idea of creating the “New US dollar” it is just a suggestion to help keep the illusion moving forward.

Many countries around the world have played that game even European countries – why not the United States and the US dollar?

You are going to tell me that the US dollar is a reserve currency and that separates the US dollar from the rest of the other currencies.

Really?

In my above example of the same house here in Ridgewood, NJ that had a market value of US$ 4,000 in the early 1950’s – then that same house had a market value of US$ 40,000 by the early 1970’s – and today that same house has a market value in the range of US$ 450,000 to US$ 500,000.

The only difference is that the house in 1950 was a new house and was in better shape, and today that house is over 50 years old.

I am using the example of a house - an actual house and not some make believe fantasy – to illustrate a point because the net worth of most Americans are associated with the market value of their houses.

What I have described here with my house example it is called: “Inflation.”

How you deflate a currency?

Doing what I described above – by creating the "NEW US dollar" – and to be able to do that the system works in a similar fashion as a “reverse split” of a common stock.


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southamerica.

re the brazil vs us:

first, brazil is sunk in a situation that reflects its social principles and the underlying values that were exported by the colonizing power a couple of centuries ago. this model is based on religious principles that enforce strong family values and therefore less trust outside that circle. These principles are extended to business and government are in the form of nepotism. in such a society, they see the world as zero sum game, and thus their objective will be to get their slice of the pie. they will always view someone else's gain as their loss, and their proclivity to cooperate will be low. rather than searching for new cooperating activities, people will invest their energies in finding ways to capture a greater share of existing wealth. this explain why brazil lags so much behind other super powers like the us when in fact has all the ingredients to become one. this moral framework has undermined the growth of southamerican countries for the last centuries and is the root of the actual social imbalance that you describe in your previous post.

in the us it is not the same situation even though the melting pot has absorbed influences from several spheres, including the southamerican one. the us is still a place where immigrants can apply for a visa and become successful citizens with hard work and a bit of luck. there is a huge middle class and any hard working kid might eventually grab a seat at a top university and become a successful educated professional. i agree that are some signals that the us is becoming less cooperative and increasingly autistic regarding its own social problems, but it is still far from a nepotist society.

 

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February 15, 2007

SouthAmerica: Today, The Federal Reserve, the Mint's distribution agent is making a big deal about the launching of this new US dollar coin. But in reality today the value of that US$ 1.00 coin or paper dollar for that matter – it is nothing to write home about.

Since the US dollar became an international reserve currency in 1946/1947 that US$ 1.00
today it is worth only a “DIME”.

Since the US government has inflated so much its currency since 1946/1947 – it is time for the US government to adopt a “reverse split” of its currency using a ratio of 10 to 1 – and they can name its new currency “The New US dollar”.

And after they do that everything would be adjusted in the US economy accordingly to the new value of the US currency - and everything would be priced in “New US Dollars.”


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The over time declining value of an US$ 1.00 dollar.


For you to be able to buy the same amount of goods and services that US$ 1.00 could buy in 1972 when the US dollar ended its relationship to the gold standard – today you need US$ 5.00

For you to be able to buy the same amount of goods and services that US$ 1.00 could buy in 1946/1947 when the US dollar became an international reserve currency – today you need the equivalent of US$ 10.00



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AP – Associated Press
U.S. Mint Rolls Out New Dollar Coin
Thursday February 15, 2007
By Nahal Toosi, Associated Press Writer
U.S. Mint Rolls Out New Dollar Coin Bearing the Likeness of First President George Washington

NEW YORK (AP) -- The newest $1 coin, bearing the likeness of George Washington, was rolled out Thursday, with the U.S. Mint hoping Americans will want to buy George.

Commuters bustled past the unveiling at a Grand Central Terminal event replete with marching music and a George Washington re-enactor. Crowds of collectors and the curious lined up in the station's cavernous, chandelier-adorned Vanderbilt Hall to exchange their paper Georges for metallic ones.

"I think it's cool because we get to see a coin with the first president on it," said 7-year-old Jack Garbus, an avid coin collector and second-grader from Valhalla, N.Y., who was taking advantage of a school snow delay to be at the event.

The new coin is going into circulation around the country just in time for next week's celebration of the first president's birthday.

"This is quite interesting because currency was not standardized before the Constitution," said the white-pony-tailed re-enactor at Grand Central, who insisted on identifying himself only as George Washington and wore a black 18th-century business suit with long coat, short pants and black stockings.

"George" -- or should that be "Mister President"? -- wondered aloud whether he should be pictured on money at all, since that was a practice of the king of England.

The Mint is making sure the coins, which are golden in color and slightly larger and thicker than a quarter, will be widely available.

The Federal Reserve, the Mint's distribution agent, has placed orders for 300 million of the Washington coins. Many have already been delivered to commercial banks under orders not to begin circulating them until Thursday.

The design on the coin will change every three months, featuring a new president in the order in which they served. In that way, the Mint hopes to attract a following similar to the more than 125 million collectors who are participating in the 50-state quarter program.

Coin experts, however, questioned whether the rotating designs will be enough to allow the new presidential $1 coin to succeed where the Susan B. Anthony dollar, introduced in 1979, and the Sacagawea dollar, introduced in 2000, failed.

"I don't know of any country that has successfully introduced the equivalent of a dollar coin without getting rid of the corresponding paper unit," said Douglas Mudd, author of a new book on the history of money, "All the Money in the World."

Mint Director Edmund C. Moy said Congress made the decision to keep the dollar bill as part of new dollar coin legislation in 2005.

After Washington, the presidents honored this year will be John Adams, Thomas Jefferson and James Madison. The program is scheduled to run into 2016. A president must have been dead at least two years to appear on a coin.

AP Economics Writer Martin Crutsinger in Washington contributed to this report.

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November 21, 2007

SouthAmerica: The US dollar will continue to decline in value against other currencies and inflation will take off since the Federal Reserve are going to cut the Fed Funds rate one more time – just for the hell of it….

The way things are moving along right now very soon the US dollar it will start losing its value even against Zimbabwe's currency – when that happens even the Chinese and Japanese are going to realize that there is a problem with the value of the US dollar.

I wonder if Ben Bernanke has already started considering the creation of the New US dollar.

If he uses the ratio of 10 to 1 to establish the value of the New US dollar – then the barrel of oil would cost only about N$ 10 dollars per barrel and the US government outstanding cumulative debt would not look so bad at N$ 1 trillion dollars.

China and Japan would have only N$ 100 billion dollars each in foreign exchange reserves.

The US GDP would be around N$ 1.2 trillion dollars.

Ben Bernanke should have some of his staff looking at some of these alternatives before he has to think about a ratio of 100 to 1 instead of 10 to 1 to make the conversion to the New US dollar.


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November 21, 2007

SouthAmerica: The $ 100 dollar barrel of oil is finally here.

And the value of US dollar is becoming a new Hollywood production – just an illusion.



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Oil spikes to record above $99 on dollar, U.S. chill
Reuters - Wed 21 Nov 2007, 2:39 GMT
By Angela Moon

SEOUL, Nov 21 (Reuters) - Oil shot above $99 a barrel for the first time on Wednesday, drawing within a hair of the $100 milestone as the U.S. dollar plumbed new lows and the onset of cold U.S. weather stirred anxiety over winter supplies.

U.S. light crude for January delivery rose by more than $1 to set a new all-time high of $99.29 a barrel, adding to Tuesday's 4 percent surge and blowing past the previous record $98.62 a barrel first touched on Nov. 7.

By 0223 GMT the contract was $1 higher at $99.03 a barrel, up more than 60 percent since the start of the year and over 40 percent since mid-August, the beginning of a fund-led rally built on the weakening U.S. dollar and concerns that limited OPEC supplies may leave the market short this winter….

Source: http://africa.reuters.com/wire/news/usnSP107079.html



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America and the Dollar Illusion
By Gabor Steingart
Spiegel - Germany

The dollar is still the world's reserve currency, even though it hasn't deserved this status for a long time. The devaluation of the dollar can't be stopped -- it can only be deferred. The result could be a world economic crisis.

The crash can be deferred, but not stopped

The dependence of foreign central banks on the dollar will defer its crash, but it won't prevent it. Today's snowdrift will become tomorrow's avalanche. The masses of snow are already accumulating at breathtaking speed. The avalanche could happen tomorrow, in a few months or years from now. Much of what people today think is immortal will be buried by the global currency crisis -- perhaps even the leadership role of the United States.

Source: http://www.spiegel.de/international/0,1518,440054,00.html


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November 21, 2007

SouthAmerica: I just found this cheerful article that was published today.



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THE COLLAPSE OF THE US DOLLAR

Imagine being sent forward in time from 1967 to 2007. Instead of gas costing 25 cents a gallon, it's $2.50. A decent home, instead of costing $15,000, costs $250,000 or more. Imagine your shock that the average American family owes $9000 on their credit cards. Imagine entering a society where less than 2% of the cars on the road are owned by those that drive them, and less than 1% of the homes are owned by the people who live in them. Welcome to the debt based slave state of America in 2007. It is all symbolic of how the globalists have America right where they want it, and are eager to finish it off. As the dollar continues losing strength, what will this mean to the world? Many will be deceived into believing that the economy is recovering; and then they will suddenly wake up to find their money worthless. As with the Argentina currency collapse a few years ago, so will the American dollar collapse likewise. However, the collapse of the US dollar is going to have much greater impact on the global economy and international political landscape than the collapse of the Argentinean peso ever did. The collapse of the dollar will reduce America to third world status, and it's people to a chaos they are woefully unprepared to face. It will be a period of tremendous hardship and economic deprivation. It will be a time of great tribulation.

With our money being worthless, there will no longer be the ability to import fossil fuels. The gas lines of the 70's will seem like a pleasant dream compared to what this would be like. Also, this will have a devastating effect upon the agriculture and transportation sectors. The transportation system will not be able to distribute food without gas or diesel. Industry will largely grind to a halt. No longer will the economy be able to function. It will be the end of the American global empire. As with the fall of the Roman Empire, America would be forced out of economic necessity to close its military bases around the world. There would be no money for government services, education, pensions, health care, security, etc. Society would quickly slip into lawless anarchy. The Homeland Security people would have their hands full, to say the least.

Yet even as the dollar slides downwards towards collapse, many refuse to believe that it is possible for something like this to happen today. After all, we live in an age when Governments and their Reserve Banks can support the value of currencies through intervention right? Various economists, speaking on behalf of the Federal Reserve, make soothing noises that there is nothing to worry about the dollar falling. They claim that this is going to assist American exporters, ignoring that the costs of imports will rise even more; and that the trade and current account deficits will continue to deteriorate. Some claim that while there have been collapses in the past surely this would not happen today.

Sadly, the reality is that not only could this happen today, but it will happen much faster than at anytime in history. Modern communications enable billions of dollars can be switched from one currency to another at a click of a mouse today, when in the past it took weeks for speculators to switch from one currency to another. Never has been a time when currencies have been more vulnerable for speculation on their values.

The US Government is in a bind. If they lift interest rates to try and support the dollar, it will increase the size of the US budget deficit, plus the likelihood that the economy would go into a tailspin. The level of personal and corporate debt in the USA is now so high, that a sudden increase in interest rates would likely bring about an economic collapse. Either way, America is in deep trouble. What we could experience is a run on the US dollar, until it becomes completely worthless. There have been collapses of currencies throughout history. A recent example has been the collapse of the German Mark in 1923. At that time, the German economy was saddled in massive external debts, plus was being forced to repay war reparations. America is in a similar position today, as the world’s largest debtor nation. Let’s have a look to what happened to the German currency in the 1920’s. At the outbreak of WWI, the German Mark was going for 4.20 to the dollar, at the end of the war, the mark was 4.80 to one US dollar, at the end of 1919, it was 42 marks to the dollar. By Dec 1923 it had fallen to 4.2 trillion marks to one dollar.

The German people suffered severely during this time, and it set the stage for the rise of Hitler to power. What took 3 years to lead up to the collapse of the German economy would only take 3 weeks today, with the speed money is able to be transferred from one country to another. The collapse of the US dollar would remove America as a global power. There is now a shift of the balance of power from North America to Europe. The international bankers who control the US and global economy want America to collapse, in order to get the American people to accept a global currency. The Asian economies will also be severely affected by the collapse of the American dollar. Not only do these economies depend upon the US market for revenue from much of their exports, but they also hold substantial reserves in US dollars. The Chinese and Japanese banking systems would collapse, their dollar holding evaporating, and the high debt levels of Chinese corporations will cause a massive wave of bankruptcies.

The Euro will become the preferred currency of choice around the world, providing the Europeans with even greater political influence than the US has today. Behind all of this, the European based international bankers will further consolidate their power by creating a United States of Europe. The crises of the collapse of the US dollar will help speed up the creation of a United States of Europe defense force. Europe will emerge from the economic chaos that will erupt across the world as the dominating economic power bloc. Germany, as the engine economy in Europe, and the largest nation, will be in the drivers seat for the direction this new Europe goes in. Meanwhile, the nations of North America will be asked to repay their massive external debts. Having sold off much of their silver and gold, the creditors will look at other means of recovering the money they have advanced. America would be held in economic bondage to these international money lenders, even more than they are now. They are going to demand total control of our economy, reducing our people to slaves, where we will be held in economic bondage.

Already, America is despised around the world not only because of the Iraq situation, but also because America is generally seen as an incredibly arrogant, and undeserving superpower. This has left America with few friends that would come to it's financial rescue when the chips are down. Our leaders have for the most part rejected the Constitution, and have allowed this once great nation to be ruined by enslaving us to a group of international bankers, in direct opposition to what the Constitution states.

We are apparently now in the final countdown towards the greatest economic meltdown in history. Yet few appear to be aware of what lies ahead. We are about to witness the end of the America that we were blessed with, and enter a worldwide age of tribulation and chaos that no one has experienced in living memory.


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SA, your nuts, to have posted this article.

You have officially lost it, germany was no more the driver of any economy than southern georgia is the polar bear capital of the world, its RUSSIA who holds ALL the major gas lines, ALL the major petrodollars that are relevant to europe, Or china.

Or america.........................something conveniently ignored in that bollocks article.
You do seem to be clutching at straws.

 

not defending brazil and would never want to live there

but prostitution and drugs are not what bring an end to a country

through a fraction of the cost and expense of fighting illegal drugs and drug dealers, with proper management even a country with majority being on drugs and prostitutes, can be run normally

drug fighting cops are something like the TSA, a job creation by the government, and by making things illegal to bring more profit to the government via creating a black market

what brings suffering to the people of a country is either ridiculously stupid leaders, or leaders who have no respect for that country and are willing to sell it

 

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Reply to Acronym

I did not write that article - I just came across it today on the internet and the person who wrote that article thinks that the current US economic situation can be compared with Germany when they had hyperinflation. (The author of that article was an American and not a foreigner.)

That kind of information reminded me that a 1946 US$ 1 dollar bill very soon it will be worth only a penny here in the US.

As the US dollar is becoming worthless the average American think that he is becoming wealthy because of the illusion of inflation.

I posted that article because I understand what the author was trying to say regarding the disappearing value of the US currency.

I went back to look the name of the author and turned out the article was posted by a Northstar Foundation.

Then I checked who these people were and you are right - it is some ridiculous religious group.

Sorry, I didn't know who these people were.


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This entire post is extremely naive. The US announces a different coin, and you spin a whole alternate world "what-if" reality. Whatever.