U.S. Economic Collapse

[Economist 0]

I dont normally post in VJ, but my wife (a filipina) spends alot of time in here. This will be very hard for alot of you to grasp, but I believe that the US dollar is on its way out the door as the worlds reserve currency. We are 11+ trillion dollars in debt. There is no way we can pay that off unless we hyperinflate the dollar. Other countries like China which have been pouring money into the US to keep the dollar propped up the last few months are getting tired of doing that. I'm going to assume some of you do not know what hyperinflation is, since my wife also didnt seem to understand it that well. Hyperinflation is when the money gets devalued so much that it litterally becomes worthless. Zimbabwe is a country right now that is experiencing hyperinflation. Right now merchants will not even take zim dollars. They want to be paid in gold. If you youtube "gold for bread" you can see a nice example of what is happening there now.

Also if you understand economics just a little bit here is a good article to help you understand a little of what is going on.

http://www.inflation.us/recovery.html

If you dont understand economics at all and you need some thing very easy to understand, here is a good youtube video to help you understand where america's place is in the world. The voice is Peter Schiff in a speech he gave some time ago, but i dont know who did the animations for this video.

Edited May 31, 2009 by Economist

[w¡n9Nµ7 §£@¥€r 123]

One more economist speaks up, adds to the cacophony of economist voices. Thanks.

[Niels Bohr 72]

Economist, that youtube video made me laugh so much. You're right about hyperinflation though.

[^KK^ 3]

OH my!! somebody fix it please...lol

[Economist 0]

Unfortunately there is not nearly enough people speaking about what is happening right now. Your money is actually being stolen from faster and faster. Silver went up 27% last month, the biggest month in 23 years, The Euro went from 1.32 to 1.415, British pound went from 1.46 to 1.61, Japanese yen from 99 to 95. This is in 1 month. The peso didnt do as good against the dollar, but it still went down. from 48.5 to 47.5 I expect the peso to play catch up in the next month or two though and we are going to at least 40 pesos to the dollar again like last year very shortly. Its after that that things are going to really start to get bad. You can protect your assets by buying real assets like gold/silver, or even real estate, although i recommend buying real estate outside the US, like philippines. My wife and I are planning to buy a farm there shortly as when commodity prices rise again like last year we want to be safe.

If you go to youtube and search for "dollar collapse" you will see 21,000+ videos pop up.

So please everyone...keep your eyes on currencies, the dollar index, and gold/silver prices so you know its real. Alot of people are going to be blindsided by this

[alienlovechild 75]

How old was Ron Paul in that clip?

You can protect your assets by buying real assets like gold/silver, or even real estate, although i recommend buying real estate outside the US, like philippines.

A lot of people got burned with real estate but there some better bargains now.

Edited June 1, 2009 by alienlovechild

[mawilson 2,133]

You can protect your assets by buying real assets like gold/silver, or even real estate, although i recommend buying real estate outside the US, like philippines. My wife and I are planning to buy a farm there shortly as when commodity prices rise again like last year we want to be safe.

If you're worried about commodity prices, why don't you invest in commodities?

Gold/silver is near all-time highs, probably going higher, but I wouldn't put all my eggs in a gold or silver basket.

Diversify!

[Economist 0]

You can protect your assets by buying real assets like gold/silver, or even real estate, although i recommend buying real estate outside the US, like philippines. My wife and I are planning to buy a farm there shortly as when commodity prices rise again like last year we want to be safe.

If you're worried about commodity prices, why don't you invest in commodities?

Gold/silver is near all-time highs, probably going higher, but I wouldn't put all my eggs in a gold or silver basket.

Diversify!

I have! Just ordered some gold krugerands and about 100 silver rounds. I'm going to watch the markets very close next week. Then I may buy 500 more oz of silver...then I will see where we go from there. I also own energy options and mining stocks and some other stuff. I still have alot of US dollars though which i am quickly trying to exchange. Hopefully by 2nd week of june i will be fully protected and out of US dollars.

Edited June 1, 2009 by Economist

[scandal 951]

If you go to youtube and search for "dollar collapse" you will see 21,000+ videos pop up.

Oh, well then it must be true!

I can't imagine a more reliable indicator of future market movements than the number of Youtube videos about a subject. Thanks for pointing this out, I'll have to bring it up at our daily premarket meeting in the AM

[dalegg 143]

You aint seen nothin' yet. Wait until California goes bankrupt and the U.S prints some money to bail us out! Damn North Korea is picking the right time for this, aren't they?

[웃 910]

If you go to youtube and search for "dollar collapse" you will see 21,000+ videos pop up.

Oh, well then it must be true!

I can't imagine a more reliable indicator of future market movements than the number of Youtube videos about a subject. Thanks for pointing this out, I'll have to bring it up at our daily premarket meeting in the AM

uscandual: Do you trade stocks on a regular basis? If so, what are a couple of your holdings and where do you think market is headed short-term?

[Economist 0]

If you go to youtube and search for "dollar collapse" you will see 21,000+ videos pop up.

Oh, well then it must be true!

I can't imagine a more reliable indicator of future market movements than the number of Youtube videos about a subject. Thanks for pointing this out, I'll have to bring it up at our daily premarket meeting in the AM

Hey...you dont have to believe it. Im not going to force it down your throat. But im sure you were one of those people in 2006 that said "real estate prices never go down" and probably bought a house then.

They laughed at this guy in 2006 too on CNBC when he told them real estate prices were going to crash and in 2007 when he said financials were going to collapse.

Edited June 1, 2009 by Economist

[one...two...tree 2,762]

You gotta watch this...

[spookyturtle 9,465]

You gotta watch this...

Where's Marc when you need him?

[w¡n9Nµ7 §£@¥€r 123]

... im sure you were one of those people in 2006 that said "real estate prices never go down"

He's "sure". Isn't he just precious.