https://www.youtube.com/watch?v=2N8gJSMoOJc&feature=pyv&ad=6050032234&kw=obama"]YouTube - The Day the Dollar Died
The dollar has died literally every day basically since Roosevelt started the death of the gold standard according to some people.
Just to let people know this posting adverts is deemed spamming And also this from the Politics Forum Guidelines (my bold)
Crums Thing is that people might not want to watch through a 7 minute advert for some gold and silver companies. And that’s all it is really, it’s a simple piece of marketing using that oft used advertisers standby, fear. Want to sell more cleaning products – claim it will protect your kids from getting sick, want to sell more gold – claim it will protect you from da da dah ‘The death of the dollar’ and total economic meltdown. However I did seem to notice in the advert a couple of things in passing they seemed to be claiming that the problems were caused by ‘entitlement programs’ and the failure of the ‘tea party’ to get budget cuts passed. And that does put a political spin to this advert and that’s why I haven’t just deleted it as obvious advertisement. So can you give us your view of this?
to try to add some spices to the tomatoes, Nassim N. Taleb was on Charlie Rose last night. i find the man's commentary to be plain, clear and brilliant. his take on globalism is 'i don't have a problem with that as long as we understand the problems it will create and agree we can live with them'. he commented on the banking system screwups of the 80s and recently 'i would support your right to be as wrong as you wish to be as long as it does not affect me.'. this could be applied to a wide variety of subjects and issues. his book 'the black swan' is the most erudite and sensible discussion of gaussian mathematics and it's shortcomings as applied to economics as i have ever read. his website: http://fooledbyrandomness.com/ having said all of that....the 'dollar' is only a concept. it is a piece of paper that we societally agree is 'worth x amount' as a medium of exchange. if most of us...or a significant portion...decide 'the dollar doesn't mean shit', then the dollar is done.....and we use cans of tomatoes (barter) or gold (if we agree on it's 'worth'..it's only a shiny metal-manhattan island was supposedly purchased for shiny baubles). 'the dollar' is a convenient social convention. to put too much stake in' everyone else's perceptions' is always a poor choice, in my view. to believe that 'everyone else is doing it, so it must be safe or ok' is another primrose path to disaster. we agree on these societal concepts in order to avoid chaos. if we all rode horses, crude oil would have much less value...so it is in the system's interest to keep oil as a medium of exchange. the whole paradigm of human life in industrialized countries is based on oil...dollars are 'the reserve currency'. if they are removed as the reserve currency, then those who hold many dollars will lose faith in the dollar. currency 'replacement' has happened before....intrinsic value is the true base level....not paper money. the easter islanders can't get a box of cow shit for their statues, you know.... carry on.
Seems to me the fall of and complete collapse of the U.S. economy is inevitable . How long can the federal reserve continue to just print money , as a temporary band-aid to keep the U.S. limping along . Sooner or later hyper inflation will be the result . With the rising oil prices , and inflation looming . It's not looking good . I found the video interesting when it said according to China , America could not repay its debts , because of all the "entitlement" programs .
Thanks for the video, I already posted it a while ago in the currency war thread http://www.hipforums.com/newforums/showthread.php?t=410281&page=7
People still like the dollar yo And before you say "oh but it's going down!!" It's actually still higher than it was in 1995. There was a huge surge in the late 90's and early 00's of a buildup of the dollar as a reserve currency when the Euro first came out due to the uncertainty of it, but following the introduction of the Euro and it's value stabilized after a few years and people could be certain about it, people found an alternative to the dollar backed up by an economy of the same size as the US.
LOL It’s very funny to me that so many seem to be just accepting this without question not only that they’re taking it seriously. This ‘advert’ is a product of the - National Inflation Association My first reaction to it was that it was a simple advert a way of selling precious metals (of the stock of) but having looked around some people think it is something else, I’ve heard it described as a “pump-and-dump stock operation”. And that it’s a lot like what Jonathan Lebed supposedly did with penny stocks So not only is there viral marketing there is also viral conning, who'd of guessed it. I can’t believe that people are not only falling for it, they’re actually spreading it!
