Will the collapse of the dollar empty your trading account?

Discussion in 'Economics' started by peilthetraveler, Jun 12, 2009.

  1. Or maybe just your bank account.

    In Argentina when the collapse was just starting to happen and people were taking their money out of the country, the government, to stop that, closed all the banks. I dont know if they closed peoples brokerage accounts or not(but im assuming they did if funds could not clear) So im thinking thats what will happen in the US, should it get like that. People are already starting to get their money out of the country and if enough people do this, i think the government (who will say they are working in our best interest) will close all the banks and close all our trading accounts.

    So it seems that if funds do get frozen one day, that silver or gold ETF is not going to help you and you will not get the benefits of being hedged as im sure they wont unfreeze the accounts until the crisis is over which could take years.

    If you dont have physical silver/gold, you are going to go scavenge all day for cardboard or aluminum to recycle like they did in argentina and hope its enough for 1 meal that you will have to share with your family.

    I think that if you dont buy at least 100 oz of silver to store in your house as an insurance policy against a worst case scenario you are just asking for trouble.
  2. the dollar will not collapse at once, it will just lose it's value at a faster rate than previous years, maybe twice the rate

    but americans don't really have savings accounts, do they? maybe 401Ks and the rest of their supposed savings in their house

    the only thing most seem to have now is their income, which even if they don't lose is eroding when compared to the sharp and constant increase in the cost of living

    things are really nasty, i don't even get how Obama can keep that fake smile on his face


    save this beautiful planet, go green now, paint your dog green, and your balls, it will make making love better, and help this planet survive, donate to non profit organizations that fund corporates looking for a cure for cancer


    hug a tree today and tomorrow
  3. ashatet


    You really think that the rest of the world is all that great. Europe has as many problems as US. Some of the European countries have even more debt as % of GDP than US.

    India seems like a great economy, but few know that there is a real estate bubble there for decades, that never really deflates. The whole economy is built on IT exports, and the internal consumption will fade in no time.

    China knows only 1 thing, which is to export stuff to US.

    What does that tell you??

    We have very serious issues in US, but we will not be alone.

  4. when did I say anything about the rest of the world, they are all shit but america is no better either


    help the poor, save the planet, and love thy neighbor
  5. it's called globalization, where you make sure everyone understands that they are nothing but worthless replaceable scums, that their life is meaningless by all means, that they should be grateful that they have a job, and that is the only thing they have, and that if they lose that job they will most likely end up in prison
  6. How many people saw their trading accounts empties as they bet on dollar collapses that never came -- predicted by golf bugs and talking heads (1980, 1990, 2008)?

    Is this time different and the dollar index drops another 75% over the next 5 years? Or did we simply go from an overvalued/EUR grossly undervalued (in PPP terms) condition (120 DX, 2002) to undervalued (70 DX, 2008).
  7. Occam


    Without denying that there are indeed many negative aspects of globalization, I've got to say that the absurdity of this post's pessimism gave me the best laugh I've had all day :D :D :D
  8. kxvid


    By 2029 10 usd won't be worth 1usd of today. Gold will be about 9k or more per ounce by then.

    I will be proven right.
  9. Funny how things that tend to be this obvious rarely play-out in reality.
  10. Lately, I have overweight FDAX, CAC40, FTSE100, Mibtel, Eurostoxx , SMI etc. holdings. ES, YM, T Bonds, T Notes only toilet paper...:)
    #10     Jun 12, 2009