In October, the dollar will no longer be the world's reserve currency. Besides that, the dollar is set to be devalued which mean a dollar might only buy sixty cents worth of goods , instead of a dollars worth of goods. We are the world's biggest debtor nation in the history of the world. The US spends $18 trillion / year that we don't have. This is fiscally irresponsible and the rest of the world notices. Before long we won't have any 'friends' to borrow money from. Only 50% of Americans pay taxes, the rest are either the working poor that don't make enough to pay taxes, or, more often-- the welfare crowd. Fifty percent of Americans are on food stamps. What would happen if the coffers dry up and those welfare checks and EBT cards don't arrive any more. Is America heading for another Great Depression, and what will that look like?
You seemed to have repeated this but don't know the context. Let me make a "title" for the "title" party. American Petrol Dollar ^Good stuff. We have a great way of life. But it seems some of us don't want to kill others for profit. CRAZY POLITICS 2015.
The supporters of the system claim that deficits don't matter...... it's only numbers that flow to and fro. The last depression would have never happened if we had been allowed to run up a deficit.
I have no idea the source of your claims, but whoever wrote that only 50% of Americans pay taxes is obviously someone who knows little about this country because that statement is simply not true. Therefore, I'll assume for the moment that the OP is of little value as a starting point for a discussion.
It's bunk. If anything there would be a move to make the Yuan a reserve currency but China is now looking at a 1929 scenario with their markets so if that happens, it won't be this year. Reserve currencies do change but change based on the countries economic power.
The dollar will be the worlds reserve currency in October. Even if it is or isn't, it will change pretty much nothing. Uneducated conservatives tend to cling to this world reserve currency thing as if it really means something significant. As if every other economy out there that isn't has to act different. It's hilarious how ridiculous this argument is. We are also the world's largest producing nation in the history of the world. What a coincidence. So the US spends made up money that only we can make, that we don't have. So how are they spending it? Only 50% of Americans pay income taxes. Much more pay taxes outside of income tax. There are 330,000,000 Americans and 47,000,000 are on food stamps. Your math seems like Republican math.
Really? Who clings to that? BTW.....keep on being proud of how the number relying on food stamps has exploded under your Messiah. O
I'm not proud of it. Just simply made a comment about a mathematical error. But I understand conservatives don't really care about facts.
Well if conservatism stands for making up their own math I'm not going to check in. Let me know when you guys become honest and I'll start paying attention.
I would suggest you immediately exchange your dollars for another form of currency, saving your assets from this inevitable loss. Once you have done so you can then secure those funds in any bank that will accept them....there should be a few out there.
` Do you have a source for this? It is imbecilic to think that Food stamps and welfare are the main culprits here when you have a out of control DoD that has spent over a trillion dollars on an aircraft that under-performs aircraft we already have flying, not to mention the cost of NEEDLESS wars and tax inequality.
You're right. This was a sloppy post. As far as the US dollar no longer being the world's reserve currency, google IMF+SDR. SDR is the currency the IMF wants to replace the dollars with. I saw a video with Soros in it, and he is working to get the dollar devalued. Google George soros and dollar devaluation. I repeated what I heard on Hannity (I think). Only 50% of people in US pay taxes. I may be wrong but when I heard this statistic, I was shocked. That's why I remembered the "50%" I
Do you pretend the poor paying a gas tax when they fill up their cars are 'paying taxes'. Don't play stupid. - - - Updated - - - He meant 50% pay REAL taxes. Everyone is taxed on something, and the leftists will have you believe because someone pays a cigarette tax or a gas tax or tax on their Wendy's that 'they're paying taxes too'. They're not.
Believe it or not, there is no currency or basket of currencies in the world that is more stable than the USD. Aside from that, there is no magic to the world reserve currency. Not that big of a deal. It's a bigger deal in the political blogosphere than in the real world. - - - Updated - - - So there are "REAL" taxes and "UNREAL" taxes?
"We are the largest producing nation in the History of the world." Really. Sounds like a liberal in denial of the fact that their policies ran America into the ground. We produce very little any more and you know that. This was a sloppy post, but maybe you should do some research before saying everything I wrote means nothing. google IMF+SDR. As far as running a deficit: $18,000,000,000,000! REALLY! The interest payments alone will kill this country off.
If, and only if, such falling of the dollar happens, it won't be on October. Usually, the falling of a currency is never announced with anticipation with a certain date. Unfortunately, the good and bad economic moves are secretly prepared and only main investors are noticed of the far future and near economic trend. They will make the necessary arrangements to survive safely any falling of the currency, while the vast majority will be affected very bad economically. Even so, if you are so afraid of a change in October, then you must take out slowly but surely your money from your bank account. I say this because if any currency falling happens, your money withdrawals will be controlled, like to say, no more than 100 dollars per day. Also, if you are in need of a new car, a new TV, a new computer, even a house, buy them before October, because after October they might cost at least 25% over its current price. Mostly is twice the price from one day to another. A collapsing of a currency also carries a drop in your salary or losing your job. Having cash money will help you to afford the new luxury of buying goods without problems even if their prices have increased. The reaction of people in other countries which have passed thru the falling of their currency is street protests, looting, and civil disobedience. But, the ones in power finally control the masses and the unhappy victims just learn to adapt to their new poorest economical condition. Exchanging your money into another currency will only protect the value, but is not practical if you still living in the US, because banks might also set a daily limit of exchanging them into dollars. Remember that banks are part of the group which controls the economy. In the 50's and 60's a dollar was 20 times and up the value of foreign currency for many countries. Today, for the same countries, the dollar is barely three to four times the value of their currencies. This was a necessary action made by the same US in order to compete with the production reached by other countries, like Japan, China, India, even Russia. Having an expensive dollar was unfair for American corporations trying to sell goods to other countries. A falling of the dollar won't cause other currencies to obtain more value but several of them will fall together with the dollar, and the Euro is one of the first victims. The currencies that might take advantage are the Asian ones, including North Korea, while South Korea will become bankrupt. A falling of the dollar won't be similar to 1929, at this time a falling of the dollar will cause wars, because the dollar is a worldwide trade currency. The expectation is that if the falling becomes imminent to a certain date, then the US government will start a war before the falling happens rather than wait for the falling to start later on a justified war. The war, in both hypothetical situations will be in order to avoid paying the debt.
Dollar will fall in relation to what? Euro and all the currency majors are essentially the same thing, they are regulated by global bankers.
I tell you what: Why don't you put your money where your mouth is and take out a million dollar loan and buy gold for it? If your prediction of impending doom in October is correct, you should make out like a bandit, since your debt would be wiped out by a collapsing dollar. However, I'd rather advise to be careful to follow those right wing radio talking points that you repeated faithfully in your original post, they may be hazardous to your financial health.
Gold would have been a safe bet if it had not been for everyone else thinking the same thing and driving the price a little above what it is really worth. There has been so much speculation, it's like just another bubble.
The poor pay taxes when they work (SS), when they shop (sales), when they pay rent (property), excise taxes and I'm sure there are more. See above. And regressive taxes, like sales taxes, fall more heavily on those down the income ladder if you didn't know (and I suspect you don't).
I occasionally listen to Hannity for laughs because I've found he's pretty much a lying p.o.s. so if that's where you got that 50% number, I find that highly credible (that's it's nonsense).
what the hell are you talking about???? the dollar will continue to be the world's reserve currency for years to come. the USA has a deficit of around $450 billion.
