Why hasn't the dollar collapsed yet?

79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭


Now I don't know who to believe :'(

Comments

  • GoldmattersGoldmatters Posts: 4,068 Admin
    @79Au197 Guess we will find out soon, my bet is on no collapse tomorrow.
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    @ArtMatters

    But, but … it was Peter Schiff's "Last warning to America"
  • GrandpaBrianGrandpaBrian Posts: 679 Silver ✭✭✭✭
    I watched a very good documentary about The Last Days of Saigon. The american ambassador there was in denial right up to the helicopter rescue that pulled him off the roof of the embassy. His aides urged him for weeks to prepare an evacuation plan but he wouldn't allow it because he didn't want any negative thinking on his watch.

    If you can predict the end of something down to a certain date, it almost certainly will not happen on that date. The worst stuff happens on a Tuesday morning some week when nobody expects it.

    One prediction that I am certain of: Peter Schiff will never run out of "Last warnings".
  • NomidasNomidas Posts: 92 Copper ✭✭
    edited May 2016
    @79Au197

    The Dollar will not collapse any time soon! Each and any of the very many predictions of an imminent collapse of the Dollar in the last 30 + years had at best been a hoax or simple desinformation.
    Like all other fiat money currencies the Dollar is already debased, but the Dollar is still THE global Reserve currency. As a consequence of that a collapse of the Dollar would necessarily entail an immediate collapse of the entire World Financial System and there is no indication or probability that this will happen any time soon. There also is no great power which could challenge the USA and for this reason try to bring down the Dollar.
    Russia is of no economical significance, and the potentially only relevant political and economical adversary of the USA, namely China, would lose far more than gain from a Dollar collapse any time soon! Furthermore the Chinese Yüan (Renminbi) is a far weaker fiat Money currency than the Dollar with a much higher leveraged collateral ( ca. 35 trillion $ internal debt vs less than 20 trillion total debt in the US) where the collateral in China is of a much lesser quality than in the USA.
    That isn't to say that China doesn't energetically work to weaken the Dollar and in particular strengthening the Yuan. They certainly will not succeed with the latter, but may have more success with contributing to an INCREMENTAL decline of the Dollar, and they know how:

    http://m.scmp.com/business/commodities/article/1937196/shanghai-gold-fix-aims-china-towards-global-pricing-power


    http://uncyclopedia.wikia.com/wiki/UnNews:Shanghai_Gold_Exchange_quintuples_gold_price


    http://goldstockbull.com/articles/china-launches-yuan-denominated-gold-price-shanghai/


    ---
    The idea behind that is at some day to launch a NEW Gold backed SUPER Yuan or what the name of such currency then ever may be.
    Such SUPER Yuan will NOT be the same as the current Yuan, but will be the Chinese candidate for a new World Reserve currency. It will be extremely difficult to corner the COMEX and her patron the FED but the PBoC and the SGE may have a chance.

    However the most effective adversary of the FED will be --- the FED herself, and many millions of prudent people, who steadily will increase their purchase of Gold !

    Finally then the Dollar will still not collapse, but together with the Euro, the £, the ¥, the Yuan and all other fiat Money based currencies just become insignificant and - fade away!!
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    @Nomidas

    Ever the fan of "autocorrection" what was "the Dollar is Erbe still THE global Reserve currency"???

  • GoldmattersGoldmatters Posts: 4,068 Admin
    @79Au197 What is it that they say? Don't go around predicting the end of the world because you are only right once....
  • NomidasNomidas Posts: 92 Copper ✭✭
    edited May 2016
    @79Au197

    Lol I would like to know myself ;) but it makes the intended sense anyway if you just ignore the "Erbe" so the comment may have been somewhat redundant then :#
    "Erbe" btw means "Heir" in my native German, but that was NOT intended :)
  • GoldmattersGoldmatters Posts: 4,068 Admin
    @Nomidas in that case, maybe Erbe does work? It hasn't been the worlds reserve currency forever. Was it the Erbe of the last world reserve currency then?
  • NomidasNomidas Posts: 92 Copper ✭✭
    @ArtMatters

    Lol you know yourself ! A multitude of Gold backed cryptocurrencies!

    SORRY I still won't say Gold, but what I say comes close! Just imagine a BitGold Account with BitCoin, Ether etc. Accounts attached! The various cryptocurrencies may have different functionalities but they all become commensurable by their common collateral: Gold!!
  • GoldmattersGoldmatters Posts: 4,068 Admin
    I'm imagining1
  • NomidasNomidas Posts: 92 Copper ✭✭
    edited May 2016
    @ArtMatters

    Thought so!
    What's interesting with that is the fact that it's NOT any respective (crypto)currency that must or will be backed by Gold as collateral but it is just the monetary asset of any particular holder that is collateralized by the (amount of) Gold HE or SHE has stored!
  • GoldmattersGoldmatters Posts: 4,068 Admin
    @Nomidas yes, an interesting concept
  • NomidasNomidas Posts: 92 Copper ✭✭
    @ArtMatters

    Lol - I've heard it already exists!! And goes by the name BitGold - or so ;)
  • GoldmattersGoldmatters Posts: 4,068 Admin
    @Nomidas the passion for bitgold runs deep here :)
  • rohanibuang61rohanibuang61 Posts: 2,379 Gold ✭✭✭✭✭
    @79Au197 My simple formula that this will provide us with ample time to stack more gold and silver :)
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    I will never be able to trust Peter Schiff again :'(
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    edited May 2016
    PS - just in case there was any doubt, this thread was satire/sarcasm/humor.

    My list was only a screen-shot of what would fit on my iPad. The list of dollar collapse on 28 May 2016 went on and on. I have to laugh at people picking specific dates for The End Of The World As We Know It and then somehow waking up the next day (today) and going about business as if nobody had mentioned anything.

    I specifically pick on Peter Shill (did I say Shill, I meant Schiff) because to me at least he is one of the biggest fear-mongers out there. I am so tired of people using fear to sell gold at their own overpriced rates. What appealed to me most from the beginning was how calm @Roy Sebag and @Josh Crumb have been and their arguments that anyone can adopt their own personal gold standard at any time. BitGold just made it much easier and more cost effective. Gold bullion bars, coins, rounds, and cubes just aren't that useful as money (no matter what we want to think) because no* merchants will accept them. BitGold on the the other hand if highly useful with multiple ways of cheaply converting it back to fiat for ordinary purchases while retaining the option of paying people directly in gold.

    * no merchants and apparently no one else either

    and be sure to check out other Mark Dice videos on YouTube
  • GoldIsCurrencyGoldIsCurrency Posts: 1,818 Gold ✭✭✭✭✭
    @79Au197 I love Mark Dice. He shows how out of touch people are with real money.
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    @BigD

    Wonder if we could get him to do it with a GoldCube
  • GoldIsCurrencyGoldIsCurrency Posts: 1,818 Gold ✭✭✭✭✭
  • jmr5djmr5d Posts: 218 Bronze ✭✭✭
    I love these videos ... they're such a great example of how clueless most people are about value and priorities.
  • jmr5djmr5d Posts: 218 Bronze ✭✭✭
    I specifically pick on Peter Shill (did I say Shill, I meant Schiff) because to me at least he is one of the biggest fear-mongers out there. I am so tired of people using fear to sell gold at their own overpriced rates.
    I completely agree @79Au197 ... that's the main thing that puts me off about Schiff and a lot of the other well known proponents of gold ... too much of the fear-based argument.
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