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Thread: Dollar loses reserve status to yen & euro

  1. #11
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    Re: Dollar loses reserve status to yen & euro

    Quote Originally Posted by chevydriver1123 View Post
    Currency collapse coming soon and of course the chaos, destruction, anarchy, death and possibly civil war 2 right behind it.
    Or everyone could just stop paying all taxes and have national non compliance day. Once the gears stop it's hard for the machine to work.
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    Re: Dollar loses reserve status to yen & euro

    Quote Originally Posted by dirtpoorchris View Post
    Or everyone could just stop paying all taxes and have national non compliance day. Once the gears stop it's hard for the machine to work.
    The government still has its jackboots called Police.
    Jackboots always come in matched pairs, a left boot and a right boot.

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    Re: Dollar loses reserve status to yen & euro

    Quote Originally Posted by Harshaw View Post
    But hey, at least all that Monopoly money printed for the stimulus kept unemployment below 8%.
    Slight typo there.... you missed the 1

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    Re: Dollar loses reserve status to yen & euro

    Quote Originally Posted by chevydriver1123 View Post
    The government still has its jackboots called Police.
    We have a lot of cops in our area.... I think the ratio is around 1 cop for every 12,000 citizens.

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    Re: Dollar loses reserve status to yen & euro

    Quote Originally Posted by Goobieman View Post
    Uhh how in the **** hell are you blaming Obama for THIS? The dollar has been declining for years.
    God, some people will use ANYTHING as an excuse to be a partisan hack...
    Last edited by Kandahar; 10-13-09 at 07:37 PM.
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    Re: Dollar loses reserve status to yen & euro

    Quote Originally Posted by Kandahar View Post
    Uhh how in the **** hell are you blaming Obama for THIS? The dollar has been declining for years.
    God, some people will use ANYTHING as an excuse to be a partisan hack...
    While true but his policies are just speeding up the process.
    Jackboots always come in matched pairs, a left boot and a right boot.

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    Re: Dollar loses reserve status to yen & euro

    Quote Originally Posted by Kandahar View Post
    Uhh how in the **** hell are you blaming Obama for THIS? The dollar has been declining for years.
    God, some people will use ANYTHING as an excuse to be a partisan hack...
    Of course this has nothing to do with it....

    Fed Plans to Inject Another $1 Trillion to Aid the Economy

    By EDMUND L. ANDREWS
    Published: March 18, 2009
    WASHINGTON ó The Federal Reserve sharply stepped up its efforts to bolster the economy on Wednesday, announcing that it would pump an extra $1 trillion into the financial system by purchasing Treasury bonds and mortgage securities.

    Having already reduced the key interest rate it controls nearly to zero, the central bank has increasingly turned to alternatives like buying securities as a way of getting more dollars into the economy, a tactic that amounts to creating vast new sums of money out of thin air. But the moves on Wednesday were its biggest yet, almost doubling all of the Fedís measures in the last year.

    The action makes the Fed a buyer of long-term government bonds rather than the short-term debt that it typically buys and sells to help control the money supply.

    The idea was to encourage more economic activity by lowering interest rates, including those on home loans, and to help the financial system as it struggles under the crushing weight of bad loans and poor investments.

    Investors responded with surprise and enthusiasm. The Dow Jones industrial average, which had been down about 50 points just before the announcement, jumped immediately and ended the day up almost 91 points at 7,486.58. Yields on long-term Treasury bonds dropped markedly, and analysts predicted that interest rates on fixed-rate mortgages would soon drop below 5 percent.

    But there were also clear indications that the Fed was taking risks that could dilute the value of the dollar and set the stage for future inflation. Gold prices rose $26.60 an ounce, hitting $942, a sign of declining confidence in the dollar. The dollar, which had been losing value in recent weeks to the euro and the yen, dropped sharply again on Wednesday.

    In its announcement, the central bank said that the United States remained in a severe recession and listed its continuing woes, from job losses and lost housing wealth to falling exports as a result of the worldwide economic slowdown.
    Of course it's all Bush's fault.
    Last edited by Crunch; 10-13-09 at 07:43 PM.

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    Re: Dollar loses reserve status to yen & euro

    The dollar was already caving when Obama took office.

    And it's nice to see that the central banks around the world aren't learning the consequences of what it means to have one reserve currency.

    The U.S. dollar gained popularity because of Cold War politics. It has never been the strongest currency.

  9. #19
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    Re: Dollar loses reserve status to yen & euro

    You Bunch Of Partisan Hacks

    Did you say a g0d**** thing back in 2003 and 2005?

    Bush's Worrisome Weak-Dollar Policy
    Bruce Bartlett on the Weak Dollar and Bush on NRO Financial

    Only a mindless, brainless partisan hack blames only the opposition party for things caused by both parties.

    Thanks for putting a "I'm a Mindless Partisan Hack" sticker on your forehead.

    Why is it so damn hard for you people to understand the concept of "consistency?"
    Last edited by obvious Child; 10-14-09 at 02:32 AM.
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  10. #20
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    Re: Dollar loses reserve status to yen & euro

    Quote Originally Posted by Orius View Post
    The dollar was already caving when Obama took office.
    Correction. The dollar was deliberately weakened under the past administration to boost exports. Notice not a single person blaming Obama for this has mentioned that.

    What is interesting is that the dollar's value is highly artificial. Without the use of dollars as a reserve and as petrocurrency, the dollar's value would be significantly lower. For those here who have come out against artificial constructs in the market, they sure don't seem to have a problem with the artificial constructs keeping the dollar where it is. But people are walking contradictions. I see many of them here. Hypocrisy is likely the most abundant resource on the planet.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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