How long until we see the collapse of The mighty United States Dollar?

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
05/10/2008 13:57

Hi all, I was just wondering, with all the additional borrowing America is taking out to rescue

its failing banks, Insurance Companies etc, how long it will be before the dollar collapses, and

The Euro becomes the currency for International trading, in particular Oil.



It was rumoured that one of the reasons Saddam Hussein was removed, was because he was about to start demanding payments for oil in Euros, and the Saudis were considering doing the same.



I would welcome members views!





wyn

rosie123


Joined: 26/05/2008
Posts: 70

Message Posted:
05/10/2008 14:05

Hi Wyn,

I was reading a article saying that because the way things are the Euro will tumble,i will try and find the old newspaper and report back to you with the details,it was last saturdays Mail

Rosie

Oilman


Joined: 19/09/2008
Posts: 225

Message Posted:
05/10/2008 14:16

How long before the USA collapses is snother relevant point? If history yeaches us anything it is that every Empire has it's day. After all who ever thought 100 years ago we would see the sun set on the Glorious British Empire?

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
05/10/2008 14:18

Hi Wyn, Glad the rain held off for you in Cyprus! You called be that awfull nunu character!......Im off to Cyprus tomorrow...you watch the weather turn!



I too heard that about the Euro and the Arabs wanting to trade oil will Euros. Hence I think there has been an underlying "CONSPIRICY" (Fogive my spelling brains not working fully today) with the Banks and trade somebody or body have been trying their best the break to US economy and the $ollar get what Im saying!?



I think the Euro is a piece of toilet paper...it does not even look like real money!

I think the £ound if the truth be known is the most strongest of world currencies....but I think that will be the next big CON and scam Gordon Brown will panic.....coz he has had his hand in the till,,,get found out ....De value the pound and hey presto we will be forced to go over to the Euro....and it will be like the decimilisation abd once again, WE WILL LOSE OUT!!!!!



nunu

DutchCrusader



Joined: 19/05/2008
Posts: 11281

Message Posted:
05/10/2008 14:36

RE Nunu1 : (...) I think the Euro is a piece of toilet paper...it does not even look like real money! I think the £ound if the truth be known is the most strongest of world currencies.... (...)



===> Hmmm. Four years ago it was 1,50 Euros to 1 GBP. Now it's 1,22 Euros to 1 GBP. So far for the "toilet paper" and the "strong Pound".

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
05/10/2008 14:39

I believe that the Euro is strictly under the control of the Germans. They are not known for flexibility.



The crises is growing and it will hit some of the Euro zone countries like Italy for instance. They will not be able to control it because they cannot adjust the currency to suit their own needs. The only cure will be for other Euro countries to lend them huge sums. It hey don't Italy and similar countries in trouble will have to severe their links with the Euro. Not an easy task. If oyter countries try to help them out, they may be dragged down the drain too. So its rally very risky these days.



As one asked, "Should we keep our money under the mattress to save them from the banks and run the risk of wife spending it all?"

ismet

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
05/10/2008 14:42

Dutch Crusader....You honestly think the Euro'S look smart/attractive? Come on get real....I could not believe it when I first got them! I thought it was the new monopoly money!



The reason why its a little stronger now than the pound is because of read my above comments again!!!!!



nunu

rocky


Joined: 17/10/2007
Posts: 1749

Message Posted:
05/10/2008 14:54

It is only a matter of time before both China and India become more dominant financially than the USA. It is defeinatey though that these populations will want an increase instandards of living and in particular the chinese government will eventually have to give in to its masses if it does not kill them off. I am sure there will be much blood spilled. These populations will want to see their own standards of living increase and will not continue to work for nothing. If the US dollar weakens more it is likely that the OPEC countries will not want oil priced in dollars they will protect against this by switching to pricing over a basket of currencies. Yes the dollar will then weaken. JUst my luck having recently bought some dollars I had better spend them before this happens.

DutchCrusader



Joined: 19/05/2008
Posts: 11281

Message Posted:
05/10/2008 14:58

Nunu1, I really couldn't care less how money looks and I'm not interested in the reason for the weak Pound either. The facts count (at least for me): 1 : 1,50 and now 1 : 1,22 - 1,27. And - with or without Mr. Brown or Mr. Cameron - not a sign of recovery of the Pound in sight. On the contrary.

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
05/10/2008 15:11

DutchCrusader.....I hear Ya...and I wish I was not so negative.....But we in the UK always lose out!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!



When USA get a cold...We catch Pneumonia!



When Europe get the collywobbles.....Remember the Bundesbank (Deutchland) years ago.....WE the UK suffered!



The next thing will be Bleedin Chinese Dollar, or the Yen or the Rupee......AND for some strange bizzare reason UK will get dragged in on it and once again we all lose! Im sick and tired of us always being the fall guys/scape goats!



If we had a great leader and party we could could start putting the Great back into Britain again and rally to get the pound really strong and $tuff the yankee dollar and SPuros!



nunu

mickey rourke


Joined: 27/08/2008
Posts: 157

Message Posted:
05/10/2008 15:23

OH DEAR is that a "GERMAN BANK" going bust in the news today Euro strong EH !!!!

no1doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
05/10/2008 15:26

I'm optimistic that the pound will regain it's strength aginst both the $ and the €.

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
05/10/2008 15:56

I will be positive,,,........I feel the pound will regain strength again.



But wobetide if Gordon Brown and the new Labour (Controlled state Government) meddle with the pound and try to ditch it for the Euro!!!



nunu

MUSIN M


Joined: 26/06/2008
Posts: 1352

Message Posted:
05/10/2008 16:06

hi guys



how many of you believe the eurodollar will last and who thinks it will eventually burn out .

personally i give it ten more years.,



musin

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
05/10/2008 16:16

A good point Musin M.......Yes maybe 10 years then what? Go back to individual country currencies?



The Uk have got a good chance to bounce back if they (Government) keep their noses out of other countries business and start looking after number 1 !!!!



Forget whats going on in the rest of the World for once and focus on our economy.



I ve been to many European countries and all the people say the cost of everthing has gone up since they went over to the Euro!



nunu

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
05/10/2008 17:06

Hi All,



Thanks for all the contributions.



My view,.....I think the USD and £Sterling are doomed to the dustbin. We will need to borrow so much money, to ride out this crisis, that it will eventually bankrupt both currencies.



The sign to look for, is when the Oil producing nations start to demand payments for their oil based products in Euros. At that point start saving in Yuan/ Remimby ,and keep it under the bed.



Prudent....my backside. I would call it incompetence!



Of all the things that I will never forgive Supreme Leader Brown, is when he told us all that we had to save for our pensions, and then slapped a £5 billion pound annual tax demand on Pension Funds dividend receipts.



Flog the man publically, and dispossess the bankers and dealers of their il gotten gains



wyn



I would say buy gold but our Supreme Leader Brown, sold it all at knockdown prices

Nunu1


Joined: 31/03/2008
Posts: 536

Message Posted:
05/10/2008 18:09

Well said Wyn!!!

Regarding Pensions...People forget the skullduggery that went on there! As I understand it, if I am not mistaken Brown when He was the Chancellor at number 11 (Its a pity no 9 Downing st isnt the electric chair chamber!) Had his hand in the Pension funds!?



I call that theft on a Grand scale Which he should do life behind bars for!



Now get this......According to Nostradamus He predicted this crash in the monetry system and that money would be worthless and gold would be the new money!



nunu

steelman550


Joined: 06/01/2008
Posts: 41

Message Posted:
05/10/2008 19:39

WYN,



If the American dollar disappears into history?



America slides into recession god help the rest of us.

It won't matter what country you come from or what money you use.

This isn't just an American problem,is a worldwide problem.



Regards Sam

DutchCrusader



Joined: 19/05/2008
Posts: 11281

Message Posted:
05/10/2008 20:09

RE Mickey Rourke : (...) OH DEAR is that a "GERMAN BANK" going bust in the news today Euro strong EH !!!! (...)



===> Oh? And how many UK banks and other financial institutions went down (or still are in grave danger)?!



Another question: would you like to receive your pension in Pounds (losing 20% or so of its international value in the past four years) or in Euros?



Come on, Brits, give up. Let Mr. Brown ask very politely if the UK may enter the Euro zone...

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
05/10/2008 21:18

steelman550





"Regards Sam"...........is that uncle Sam?



wyn

roachie


Joined: 25/04/2008
Posts: 31

Message Posted:
05/10/2008 21:38

I think that it is already happening as Oil producing countries now trade oil in Euro's as well as $'s. As a consequence countries which used to hold $ as a sort of reserve currency now don't need to. It is slow of course because some countries will continue to hold onto $ for historical reasons. Over the next decade though expect this to continue. In this case the US will either have to accept this new reality and reduce the supply of $ on world markets or we could see a fall of around 50 % (as was the case in 1968 when $ replaced the £ as the worlds reserve currency)

Aussie


Joined: 17/06/2007
Posts: 657

Message Posted:
05/10/2008 23:01

The problem with guessing how the US dollar and euro etc will perform in the short to medium term is the syncronised economic problems confronting most of the world right now. If you think about it all of the major economies are facing huge problems USA UK, Europe and later China and Asia. In isolation all of the major currencies should be weakening/ falling but of course this is impossible as for every devaluation in aggregate another currency(s) must appreciate.



With commodity prices now under pressure as well its hard to pick which currencies are now safer/ stronger. Even Japan and China will suffer as global demand falls.



Its really a case of who has the biggest problems and the market is likely to have some wild swings as markets bet on which economies are doing relatively better in probably our most syncronised global recession. Even the effects of the Great Depression lagged for some months or even years as it worked its way around the world as economies were less connected than now.





Aussie

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
05/10/2008 23:07

Aussie,



As usual an excellent posting.



Sorry we did not get to meet this last visit. Next time, without fail. The Efes are on me!



wyn

Aussie


Joined: 17/06/2007
Posts: 657

Message Posted:
05/10/2008 23:22

Thanks Wyn



Look forward to it now I am drinking again (after recovering from the worst the sandflys could do)



Aussie

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
05/10/2008 23:26

Aussie,



Sorry to hear that mate. If they sucked your blood, they were very brave!



Cheers,



wyn

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
06/10/2008 12:11

Dutch. I think we will have to join the Euro at some point in the not so distant future.

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
06/10/2008 22:29

Hi All,



DOW falls to 9793 down 531.. That is despite Mr Bush pumping what is now accepted as

USD 800 Billion Plus into the system.



Ex chairman of Lehman Bros admits to trousering almost Half a Billion Dollars over the last 5 years.



Sounds pretty terminal to me!!



Any comments anyone!



wyn

rocky


Joined: 17/10/2007
Posts: 1749

Message Posted:
06/10/2008 22:38

wyman I think this a good time to invest in stocks and shares for medium to long term growth. I think it is the market has fallen from a peak of 6600 (including my pension funds) and many amatuers are getting out of the market, wrong coz the professionals will be buying in......you watch the market will reach 6600 again but will probably take a few years

no1doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
06/10/2008 23:28

I'd stick my neck out and say that the FTSE will be over 6000 within 2 years

rocky


Joined: 17/10/2007
Posts: 1749

Message Posted:
06/10/2008 23:45

I dont think you will be far out I say 6000 will be reached January 2011 by then also some of the build projects in NC will be near completion!!!!

phylray



Joined: 21/09/2007
Posts: 1727

Message Posted:
07/10/2008 00:33

mmmmmm.... am hanging on to my Indian gold.

witchfinder



Joined: 10/04/2008
Posts: 155

Message Posted:
07/10/2008 03:17

I bet Monarch site in Alsancak will be still waiting for electric in 2011....... lol, still it won't matter as we will not be able to afford the airfares by then....

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
07/10/2008 09:55

There is a positive to all this and that is we are not in a Depression.

steelman550


Joined: 06/01/2008
Posts: 41

Message Posted:
07/10/2008 14:56

Hi Wyn,



Money markets are still dropping.

One piece of good news is that they predict that oil will be back down to 75p a litre by early next year.



Regards Sam.



Ps. Wyn, not Uncle Sam OR are you Tommy LOL

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
07/10/2008 15:29

...One piece of good news is that they predict that oil will be back down to 75p a litre by early next year....



That means Petrol prices will be going up then!

steelman550


Joined: 06/01/2008
Posts: 41

Message Posted:
07/10/2008 15:43

HI Doven

Can't see it going up everyone is cutting back.

The only way it would go back up is for the oil producing countries to cut production.

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
07/10/2008 15:57

'There is a positive to all this and that is we are not in a Depression.'

Not yet! First of all there is recession (the UK's next quarters figures will confirm that the UK is officially in recession) and my guess is looking at the info available that unemployment will increase significantly in all countries that are at present affect by the 'credit crunch'. And it is going to get worse before it gets better.

AJ

steelman550


Joined: 06/01/2008
Posts: 41

Message Posted:
07/10/2008 19:10

Sorry message 35.



Should be petrol is coming down to 75p a litre.



Regards Sam

Harlequin


Joined: 02/10/2008
Posts: 346

Message Posted:
06/10/2008 11:54

For the forseeable future there will be only one safe currency - Gold!

rocky


Joined: 17/10/2007
Posts: 1749

Message Posted:
07/10/2008 22:55

Hquin its expensive though probably not the time to buy the stiockmarket looks good value medium to long but hold your nerve

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
07/10/2008 23:03

No1Doyen.



msg 35 Petrol down to .75 per litre (cheques in the post)



With this lot car tax up to £1000.



Do me a favour....and I thought that you were the joker!



wyn

Lemtich



Joined: 15/02/2007
Posts: 1487

Message Posted:
07/10/2008 23:24

Can I borrow a fiver?



No? Oh well, the beauty about not having any money, is that when it all goes tits up, you haven't lost anything!



Bugger, just remembered that last half million I stashed in Northern Rock. More like Chiggy Rock!!!



Lem

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
07/10/2008 23:30

Lem,



Any day you wish, I am happy to join our assets and divide equally!



That my friend, is true democracy!



wyn

Lemtich



Joined: 15/02/2007
Posts: 1487

Message Posted:
08/10/2008 00:02

Wyn



When I got a call from the Bank, I asked what was wrong.



The chap said, "We're a bit worried about 3 accounts........"



"Oh yes", I said.



"Erhmm, yes, Iceland's, Argentina's, and



erhh,...................yours!"



You could have knocked me down with a feather!



Lem

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
08/10/2008 00:06

Liked it Lem,



I will still take my chances. I still have a few shekels in The Northern Wreck...................



so it could be a fair bet for you. trust me,......I used to be a salesman!



wyn

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
08/10/2008 13:11

A busload of politicians were driving down a country road when, all of a sudden, the bus ran off the road and crashed into a tree in an old farmer's field. The old farmer, after seeing what had happened, went over to investigate. He then proceeded to dig a hole to bury the politicians.



A few days later the local police inspector came out, saw the crashed bus, and asked the old farmer where all the politicians had gone.



The old farmer said he had buried them.



The inspector asked the old farmer, "Were they all dead?"



The old farmer replied, "Well, some of them said they weren't, but you know how those politicians lie."

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
08/10/2008 13:28

No1



Nice to see you are on form this lovely morning.



wyn

Turbo


Joined: 24/12/2006
Posts: 833

Message Posted:
08/10/2008 21:55

God Bless America....

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
08/10/2008 22:02

Turbo,



I hope so! They sure need it!!



wyn

Turbo


Joined: 24/12/2006
Posts: 833

Message Posted:
08/10/2008 23:30

Guess who will end up paying back that 700 Bil. ? me for one...

I have a bad bad feeling about this one...

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
09/10/2008 14:12

Turbo,



You couldn'nt let me have just a couple of little old billions, could you?



Old Bush baby wouldn't miss it!



wyn