____twoism

What consequence will this have to the (rest of the) world?

George W. will be impeached. Americans everywhere will be giggled at. Marijuana will be made not only legal, but free. The UN will govern the world fairly and justly and we will never see a war again.

I'm not joking here... It's not the question if the dollar will collapse but when. (months, years, decades)

Since I just bought a house (moving there in March) I'm pretty much interested what the consequences will be to the worlds economy. I'm not trying to ferment trouble in any way. I'm pretty much down to earth myself but it's just something I'd like to know.. or at least a tiny bit what to expect.

There are all kinds of theories but non of them give a good picture what to expect and what influence this'll have overseas. Anyone know any good sites/articles about this subject?

Well, if the US economy is on the verge of imminent collapse, I'd like to know too. Haven't heard a thing about it on the News.

it's too complicated to really know what would happen imo. the main factor i think would be where speculators (ie: all the people with significant liquid holdings) would take their assets to because this would affect the value of the currencies that they stampede into when they try to cut their losses when the dollar goes down. but i think the euro and the chinese yuan and other asian currencies would benefit by a collapse in the dollar. dunno,

I found an award winning documentary about the Federal Reserve. I didn't watch it yet so I don't know if they tackle the suject but I'm sure it's interesting to watch either way.
Fiat Empire and the Federal Reserve - Part 1
Fiat Empire and the Federal Reserve - Part 2

There are a lot more interesting documentaries on that page. The thing is.. my English is pretty good but all this money business is difficult to follow in Dutch, let alone following that in English.

I don't think it'll be the end of the world. But there are going to be allot of changes.

To be honest, I wouldn't worry. Even the collapse of a currency has a hard time bringing down the entire international economy. We'll probably have a crappy recession and then once that's done, things will look up.

There is no point to worry about it because no one can predict the exact effect it'll have.

I just hope that the US government will shake up and change its consuming pattern asap. The US currently lend 3 billion Dollar a day from foreign countries to feed their lifestyle. It is necessary because the average American lives beyond one's means. If this doesn't change there will most likely be a panic on the stock exchange like there was in 1929. This of course is the worst-case scenario.

that ain't gonna happen.

A bank firm in the UK called Northern Rock recently copped it when they publicly announced that they had to lend money from the government to sustain everyone's account balances. If you haevn't heard about it yet, basically there was a lot people making panic withdrawals (thus, queues) and they ended up getting £25 billion (about $50 billion) from the government.

If the dollar does crash, they'll probably just keep it under wraps and continue borrowing from other countries, possibly projecting the problem onto a third party and citing that for more lending.

My advice is to have a bank account using another currency. When you get paid or take out some money, have them convert it to the dollar for you. Some banks will do this for free. Your euros/pounds/yen will be much more valuable when the dollar crashes.

Turbulent times at the moment.

@Dragon. I somehow never read your reply... Having some money on another bankaccount in dollars isn't a bad idea. Sounds a bit like investing to me.

you think I ain't worth a dollar, but I feel like a millionaire...
http://www.youtube.com/watch?v=dywjE9isM-A&feature=related

who isn't a money slave?
and f***! somehow illuminati pissed off again
gimme toro, gimme some more..

As a thirty-something, less than a year into a mortgage we could barely afford LAST year, with a wedding on the way and with precious little sign of a recovery in the West, these are seriously scary times I can tell you.

I know it's all very dull to some people, but negative equity and the threat of having people tell you they are taking your house back off you tends to make the subject a bit more interesting! Not that we are anywhere near that stage yet, but when I come to re-mortgage this time next year, I really do wonder quite what will happen. It's a selfish outlook I know - "me, me, me" at a time when hurricanes, earthquakes, terrorism, etc have many other people in much worse situations than us here in the UK - but frankly, I find myself worrying about this stuff more and more.

I hope it does fuck the balance of America's shitty mindless consumption, like my personal favorite idea is having the whole economy die, and the media lull us with mtv and disney telling us its not really happening, watching hannah montana and eating frozen food which the commercials tell us is the rage, consuming ourselves to death as we lose all we have to comsume....

But the US isn't really that Bradbury-esque.

My historical perspective: something will happen and it will be just as shitty as the thing that happened before it, or worse. people will be tore up over whether to enjoy their new shitty unfair lot in life or be panic stricken and guilt ridden and consumed by fear and anxiety. i'm currently sitting on the fence, they're both good choices.

(leaves quietly)

Vordhosbn wrote:I hope it does fuck the balance of America's shitty mindless consumption, like my personal favorite idea is having the whole economy die, and the media lull us with mtv and disney telling us its not really happening, watching hannah montana and eating frozen food which the commercials tell us is the rage, consuming ourselves to death as we lose all we have to comsume....

But the US isn't really that Bradbury-esque.

The number of quotes I've read along the lines of "Ha! The west is fucked! That'll teach us. Down with capitalism!" is ridiculous - even on "proper" news sites (no offence, but I don't come to twoism for the economics). People don't seem to realise that we're all part of this system they hate - if you've got a bank account, mortgage, pension, then you've invested in these institutions.

I don't think there's going to be any cataclysmic collapse of the $/£/Euro/whatever - things are going to be a bit tough for a while though. If you've got a mortgage on a property, hang on to it at pretty much all costs - the beauty of land/property is it's a finite resource, so there'll always be demand for it, despite sudden drops in value. There's no need to buy tinned goods and a shotgun just yet...

A_Northern_Soul wrote:The number of quotes I've read along the lines of "Ha! The west is fucked! That'll teach us. Down with capitalism!" is ridiculous - even on "proper" news sites (no offence, but I don't come to twoism for the economics). People don't seem to realise that we're all part of this system they hate - if you've got a bank account, mortgage, pension, then you've invested in these institutions.

I don't think there's going to be any cataclysmic collapse of the $/£/Euro/whatever - things are going to be a bit tough for a while though. If you've got a mortgage on a property, hang on to it at pretty much all costs - the beauty of land/property is it's a finite resource, so there'll always be demand for it, despite sudden drops in value. There's no need to buy tinned goods and a shotgun just yet...

You're so sane it freaks me right out.

turquoise70 wrote:

A_Northern_Soul wrote:The number of quotes I've read along the lines of "Ha! The west is fucked! That'll teach us. Down with capitalism!" is ridiculous - even on "proper" news sites (no offence, but I don't come to twoism for the economics). People don't seem to realise that we're all part of this system they hate - if you've got a bank account, mortgage, pension, then you've invested in these institutions.

I don't think there's going to be any cataclysmic collapse of the $/£/Euro/whatever - things are going to be a bit tough for a while though. If you've got a mortgage on a property, hang on to it at pretty much all costs - the beauty of land/property is it's a finite resource, so there'll always be demand for it, despite sudden drops in value. There's no need to buy tinned goods and a shotgun just yet...

You're so sane it freaks me right out.

PEH! Sane people are boring!! SNORE!!