The inevitable collapse of the dollar

The current account deficit:
http://en.wikipedia.org/wiki/List_of_countries_by_current_account_balance

Summary:
Americans are living beyond their means and Asia is currently financing that. But eventually the Asians/Europeans will stop financing the USA and then the bubble will burst. Also check out the 1-minute video which I'm responding to for a quick explanation

Category:

News & Politics

Tags:

• US
• Dollar
• Collapse
• Crash
• Crisis
• Recession
• Economic
• Economy
• Currency
• Euro
• Financial
• Market

[mjh62889]

@scidhumouse100 They are buying time until they can get a gold backed Juan. You seem to know Peter so I assume you know he is a huge gold bug AND advocates a gold standard? He doesn't get into it here but he knows the writing is on the wall. Make no mistake the Chinese are growing some form of a middle class with purchasing power and they are quite active as a nation in acquiring gold. You can create a run on Treasuries if you have a gold backed plan afterwards.

[scidhumouse100]

@gregsees the reason America is living beyond its means is because the Chinese inflate their currency to keep jobs and exports from leaving their country. That makes it easy for us to buy their cheap goods. Why do they do they print money when their economy is sooo good and ours is sooo bad? If you and Peter are so right then answer that question.Why do the Chinese need to devalue their fiat currency? Please answer. Yeah, the dollar will collapse.... lmao.... go follow Peter and the herd.

[gregsees]

this isn't a case of the boy who cried wolf. America is living beyond its means and russia and china have already stopped trading in the USD. other countries will diversify and the world is pushing for the end of Americas reign and irresponsible spending. Believe it or not. highly respected economists will agree. Fear mongering my ass.

[UShouldStopLosing]

@scidhumouse100 The U.S. dollar has been failing for years. Only idiots refuse to believe it.

But then again, america was born of idiots who were so sick and tired of being stupid that they tried to tell the rest of Earth how to live.

And then america went fucking bankrupt.

Holy fucking shit, the stupid are even stupider than they thought. Next?

[UShouldStopLosing]

@scidhumouse100 You, my friend, are a complete fucking idiot.

The U.S. is bankrupt for a reason. The sooner you accept that, the better. You have zero money. The only "money" you have is the toilet paper you print, thinking you are gods.

You are, in fact, a piece of fucking sewer shit. Get fucking used to it, kid.

[scidhumouse100]

@scidhumouse100 continued.... to the public.

[scidhumouse100]

@scidhumouse100 Continued... Peter knows this and yet professes that the dollar will fail. I consider that fear mongering. The only currency that could make ANY fiat currency fail would be one that's backed by silver or gold and the central banks of the world won't let that happen. I agree a lot with what Peter says, but there comes a time when his logic doesn't add up. I would glad to debate Peter any time over this Prophecy that he and other financiers love to sell to ...

[scidhumouse100]

@scidhumouse100 continued... The US is the one country in the world that has the capacity to OUTPRODUCE the Chinese. They KNOW this and fear this the most. They print every time we print to keep their currency cheaper than ours. If they cut our ability to buy their cheap goods, our country would be forced to rev up the manufacturing sector and THAT we would do! They know this and so does Peter. The dollar will NEVER collapse because their is no competitor to replace it. Peter...

[scidhumouse100]

@VictoryCough Europe consume China's production? The Europeans currency isn't gonna buy them much now is it? The US dollar, not the Chinese Juan is considered the safe haven for now. As I stated before, if China let's their FIAT currency rise or were to cut off the US by liquidating debt while refusing to buy more debt, we as a nation would be forced to manufacture things which would bring back jobs the Chinese steal with their cheap FIAT currency. The US's capacity to produce is..

[VictoryCough]

@scidhumouse100 They will go bank because they decide to stop buying financial instruments that are losing value?

China has been saving for 30 years! Of course they are going to want to liquidate bad debt! They spend on infrastructure because they have the capital goods that need transporting! They are selling to the world! Do you think that China or Europe can't consume China's production?