The Day the dollar falls (Must see documentary) 4/6

Do we live on a bubble? Is it possible for the heavily indebted American economy to collapse and take all of us down in a free fall with it? Have the days of the dollar been counted? Is it really unimaginable that we will see the time of the Great Depression repeating itself?
VPRO Backlight and Dutch national newspaper NRC Handelsblad present this 'what if' scenario. What if the dollar collapses? Fiction meets facts in this 24 hour scenario. At 9AM a Singapore trader is ordered to sell a large amount of dollars, which sends off the enormous downfall of the dollar. This film shows the results for the world economy every following hour. It ends in Amsterdam, where the only currency accepted by a taxi driver is sigarettes...
History seems to have caught up with this 2005 film, though in slow-motion...
Includes interview with analist Stephen Roach, Andy Xie, Maarten Schinkel, Cees Maas, Rob de Wijk and Kees Vendrik.


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• 2010

[mortalisk]

That Cees Maas is a bit disillusioned about the banking system. He says people will not be able to get their money, but it will still be there. Does he not know that even today the money is not there? There is no money in your bank account. The banks are lending it out to risky business.

[Denizzz123]

@mortalisk But what is money? ;)

[dekomondo]

@1388mark mars has explosions on its surface...i dont remember how they were called :D

[SpazChat]

Yes, but we have online banking now

[mortalisk]

@Denizzz123 That is indeed a good question :) I would say it is nothing more complicated than the most easily exchangeable thing in the market.

Today of course governments have practically outlawed all other money with gains tax and VAT and legal tender laws, so everyone uses their fiat currencies. Central banks, government bank guarantees and bailouts have ensured that this means that money is mostly debt today.

[1388mark]

@realkingkado think mars is more affordable than neptune...

[boggywoman]

foreign investors are also affected by the US toxic assets THEY invested in. Greed is a worldwide phenomena. Also, this particular installment of the docudrama shows a European woman in hysterics that she has lost everything. Only a fool puts all thier financial eggs in one basket, especially one foreign investment. So situations like that would be the exception and not the rule. The dollar could collapse, but it would take alot more than one Singapore trader with a bad feeling to trigger.

[boggywoman]

Well, this scenario (dollar collapse) is unlikely, because it fails to take into account one critical factor - all markets are linked. The documentary takes a very euro-centric view, that somehow, European economies are operating with immunity to worldwide economic perturbations. This docu-drama was filmed in 2005, before the economic collapse we just experienced. The value of the euro has fallen along with the dollar, because....

[realkingkado]

@duntaalik The Moon is not safe because remember NASA bombed it lookin for water! So may i suggest Neptune

[realkingkado]

Move to India/China.Malaysia, western civilization is over