US dollar to lose its reserve currency standings? Are you dumping the dollar?

p0ck3taces

p0ck3taces

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Nov 3, 2009
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So the US is hurting. Printing money to pay for it's debts, but it can only keep printing money to pay for its debts as long as the US dollar stays the reserve currency. So when's this game going to end?

[ame="http://www.youtube.com/watch?v=2N8gJSMoOJc&feature=player_embedded"]YouTube - The Day the Dollar Died[/ame]

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What do you think? Will the US dollar lose standings as the reserve currency?

What are you doing? Are you dumping the dollar and buying gold, silver and other commodities?

All a bunch of "the sky is falling" BS?

The US dollar being worthless would obviously effect all of us doing business online. Even if you don't earn money in US dollars or have substantial holdings in commodities, the biggest consumer market would be gone. So just BS or a real possibility?
 


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As long as I get paid in U.S. Dollars, and I can go to the store and buy shit with U.S. Dollars, I'll continue to use U.S. Dollars. Last time I checked, the local Wal Mart didn't accept gold bullion at the register.
 
When I moved to Thailand and moved a lot of my cash here I didn't expect that to be a stellar investment, just a means to live comfortably here. But after a 30% rise in the Thai baht versus the US dollar, a 40% gain in the Thai stock market, and a 1,000% gain in the value of my home, at the same time the U.S. housing market and overall economy have headed steadily down, I'm looking like an accidental f'ing guru.

The direction of the dollar is pretty obvious so I'm accelerating moving out what I have left in dollar denominated investments. Problem I have is the retirement accounts. I'd take a big hit if I cashed them out now, but maybe that's a smaller hit than waiting until retirement age when the dollar will be worthless. I'm thinking I might max out SEPP to try to get some of that out sooner rather than later,

Short answer: Yes, dumping the dollar.
 
I turned a lot of mine in to dirt, but have no real plans to dump anything.. 24% overall return on investments last year has us sitting fairly decent..
 
The dollar is not going to lose it's status as an international reserve currency anytime soon. Even those who say it's going to happen know it's not going to be in the near future.
 
efeezy said:
As long as I get paid in U.S. Dollars, and I can go to the store and buy shit with U.S. Dollars, I'll continue to use U.S. Dollars. Last time I checked, the local Wal Mart didn't accept gold bullion at the register.
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Normalcy bias - Wikipedia, the free encyclopedia

geomark said:
Problem I have is the retirement accounts...
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Tough call.

lschmidt said:
The dollar is not going to lose it's status as an international reserve currency anytime soon. Even those who say it's going to happen know it's not going to be in the near future.
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How long do you think other countries will keep putting up with the US paying off their debts to them with more and more printed money?
 
efeezy said:
As long as I get paid in U.S. Dollars, and I can go to the store and buy shit with U.S. Dollars, I'll continue to use U.S. Dollars. Last time I checked, the local Wal Mart didn't accept gold bullion at the register.
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That's all good and well, however, the problem is you're not going to be paying Walmart prices anymore because shit will be so expensive.
 
Feydakin said:
I turned a lot of mine in to dirt, but have no real plans to dump anything.. 24% overall return on investments last year has us sitting fairly decent..
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Dirt can be a very good investment. Productive farmland will be golden as food shortages become more commonplace, although if food riots start in developed countries the governments may move to confiscate farms.

It's kind of obvious that the dollar is getting steadily weaker. But what happens if it is no longer the world's reserve currency? Is there a sudden collapse in its value?
 
geomark said:
Dirt can be a very good investment. Productive farmland will be golden as food shortages become more commonplace, although if food riots start in developed countries the governments may move to confiscate farms.

It's kind of obvious that the dollar is getting steadily weaker. But what happens if it is no longer the world's reserve currency? Is there a sudden collapse in its value?
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Farmland: the asset that's better than gold - MoneyWeek

The US doesn't even make enough money to pay off the interest rates on their debts... The only reason we are able to stay afloat and have stayed afloat for the past 10+ years is because the US dollar is the reserve currency. The US is the only country allowed to print US dollars and since the US dollar is the reserve currency (meaning it's accepted everywhere as the global currency, which is already changing btw) we can just keep printing more and more and use that printed money to pay off debts and buy back treasury bonds. If the US dollar loses it's place as the reserve currency, that's pretty much game over. Most of our states are bankrupt already as it is and then the feds will be unable to pay for the national debt, we will have trouble buying oil etc.

Hyperinflation - Wikipedia, the free encyclopedia

How Hyperinflation Will Happen In America

National Inflation Association

As far as I can see, the US is screwed if it loses its reserve currency status.
 
p0ck3taces said:
If the US dollar loses it's place as the reserve currency, that's pretty much game over. Most of our states are bankrupt already as it is and then the feds will be unable to pay for the national debt, we will have trouble buying oil etc.
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The elephant in the room has yet to be mentioned. It was the US military that was partly responsible for the dollar becoming reserve currency in the first place, and that military is a lot more powerful now.


"Foreign Policy is not missionary work... who controls the energy can control whole continents..." - Henry Kissinger
 
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