HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Video & Multimedia (Forum) » 'Very bad news for dollar...

Thu May 29, 2014, 03:56 AM

 

'Very bad news for dollar': Bucks slipping as world's reserve currency



RT Published on May 28, 2014

The biggest energy deal in history could be the catalyst that leads to the greenback losing its place as the world's reserve currency. That's the opinion of a range of economists commenting on Russia and China's 400 billion dollar natural gas agreement. James G. Rickards, senior managing director at Tangent Capital, joins RT to discuss this issue.


- If this inflation thing catches, the CEOs will have to get raises. They're the job creators, right? So, win-win. Like always.....

7 replies, 1695 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 7 replies Author Time Post
Reply 'Very bad news for dollar': Bucks slipping as world's reserve currency (Original post)
DeSwiss May 2014 OP
DFW May 2014 #1
DeSwiss May 2014 #2
DFW May 2014 #3
DeSwiss May 2014 #4
jtuck004 May 2014 #5
pam4water May 2014 #6
DeSwiss May 2014 #7

Response to DeSwiss (Original post)

Thu May 29, 2014, 04:22 AM

1. Wow, I'm hearing this for only the 275th time

This must be why the dollar just hit its strongest value against the Euro in months yesterday.

In other words, "конечно там, товарищи"

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DFW (Reply #1)

Thu May 29, 2014, 04:30 AM

2. First I heard of it.

 

- You might want to get your hearing checked. I hear Viagra messes up some people's hearing as well.

    WARNING: ''If you hear things 275 times or are hearing repeated messages for four hours or more, seek medical help....''

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DeSwiss (Reply #2)

Thu May 29, 2014, 05:31 AM

3. I don't even know what Viagra looks like

But I've had to deal with banks and currency traders for over 30 years. For "the dollar is dying," 275 is a conservative estimate. Of course, if you consider I've been hearing it since I was backpacking around Europe in my teens in the 1970s, it's not a huge yearly average. Besides, I only speak Russian, German, French, Spanish, Italian, Dutch, Swedish and Catalan. You probably have some inside sources to which I have no access.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DFW (Reply #3)

Thu May 29, 2014, 07:25 AM

4. If the past were prologue nothing would ever change.

 

But that's not true, is it? Because it's gotten worse. However, I can see how one would have a perspective such as yours, having dealt with bankers and currency traders for over 30 years.

- You have my sincerest sympathies. But somebody had to do it I suppose.....

[center]

There was the old banker JP
Who cheated and lied up a spree
He plundered and stole
Monopolized silver and gold
Paid his bills with our taxes for free[/center]

~DeSwiss

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DFW (Reply #1)

Thu May 29, 2014, 08:07 AM

5. I remember when this admin started making their banker friends richer with cash infusions, and

 

many critics started yelling about hyper-inflation, wheelbarrows full of bills to buy anything...but they could not explain where the demand was going to come from in a nation which has had it's middle class effectively stripped of a lot of wealth, with no way to recover it.

Now we are on the other side of 7 million families thrown into the streets in foreclosure, 9 million homes underwater, good jobs replaced wholesale with crappy paying jobs if any, thieving bankers touting record profits, tens of millions are heading for a life with an insulting SS income and food stamps if anything, more people in poverty than we have had for many years, and a past Treasury Secretary who just finished a stint on a national tv show where the audience laughed in his face at his lying used-car-salesman attempts to put the best light on the windfall he arranged to give his friends in finance in the form of trillions of dollars to suck profit from.

Not much inflation, though.

That just doesn't sound promising, even if McDonalds pays a little more.

I do wonder what a future is like in a country where we used to make value, and now we just finance it so the profits can accrue to someone else, and tens of millions sit idle or underutilized. Modern monetary theory intimates we can just go on creating zeroes and not have to worry about that, but I find that hard to swallow.

Can we really sustain this going forward, financed to the gills both in government and out? Cause it looks a lot like we are just floating, hoping someone else gets blamed when the music stops.





Reply to this post

Back to top Alert abuse Link here Permalink


Response to DeSwiss (Original post)

Thu May 29, 2014, 10:07 AM

6. If we made actual stuff inside the USA we woudl nto have to worry about the dollar slipping.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to pam4water (Reply #6)

Thu May 29, 2014, 11:11 AM

7. Right.....

 

...fortunately all we have to do is repeal NAFTA and cancel TPP and we'll be sittin' in high cotton!

- Which is good since we may have to eat it unless somebody can remember how to make shirts and blue jeans again.

Norma Rae where are you?!?!?!

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread