A friend sent me this and it is so TRUE !

[Mangler]

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BS
Robert W

It may be BS. I admit I am only starting to learn more about the difference between Reserve Currency and everyday dollars used for buying groceries.

So far I am learning that world treaties enacted since WWI have created a disconnect between what we see as a dollar and what world governments see as a dollar. It seems the current problems were not intended nor expected at the time these treaties were agreed. But the result is the US dollar has a strategic advantage over every other currency by being the world's reserve currency and by our government holding other government's gold deposits on account.

Right or wrong, our government is using this advantage to force China to comply with the rules of the global currency exchange system. Hopefully it works without causing violence.

[countryboy6685]

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It may be BS. I admit I am only starting to learn more about the difference between Reserve Currency and everyday dollars used for buying groceries.

So far I am learning that world treaties enacted since WWI have created a disconnect between what we see as a dollar and what world governments see as a dollar. It seems the current problems were not intended nor expected at the time these treaties were agreed. But the result is the US dollar has a strategic advantage over every other currency by being the world's reserve currency and by our government holding other government's gold deposits on account.

Right or wrong, our government is using this advantage to force China to comply with the rules of the global currency exchange system. Hopefully it works without causing violence.

You don’t seem to realize that the world is moving away from using the dollar as the world reserve currency and is expected by most economist to be replaced by something else in the next 10 years . China is currently dumping all of it dollars and says it hopes to have 90% of its dollars out of its hands by December 2012 . Also China and Russia just formed and agreement where by they pay each in Russian rubles and Chinese yen . Before that they paid each other in dollars . Also several of the middle eastern country's have started not accepting dollars for oil but for now its just a formality to ship it through another bank and convert it into whatever they will accept but in time the dollar will become worth less and less . What happens when no one wants dollars any more .

Robert W

[wbroz]

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Ive seen some posts stating that India and China are also starting to buy Iranian oil partly in yen and partly in rupees, also with gold, instead of the US Dollar. The only reason the Dollar has not yet collapsed is due to it being the World Reserve Currency. Once the world moves away from the Dollar it will surely collapse. Buy the continuing to print more with less to back it the fall will be hard. The US Dollar is dying. IMO

[Mangler]

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I have also read that the IMF and World Bank are promoting a new super-currency made up from the value of the currencies of the countries sitting on the UN Security Counsel. This new super-currency would only be used by nations to settle trade accounts. It would not be part of the global banking system except as a marker to peg currency values.

[Nikefan]

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Buy Gold or Silver, mostly silver. It will be the day to day currency you need.

[makerofgirls]

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I seriously doubt this was written by a man who used to be a VP of a fortune 100 company. Because he of all people should know that the US dollar being a world reserve currency prevents America from ever becoming like Greece.

I agree with you... There is no way that an executive, who are trained to see/evaluate/select opportunities without overriding ideologies, was the original author of these points. CEOs are -usually - more financially trained/adept than most people and the writer shows financial acumen acquired from the news outlets...

[Oscar Wilde]

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Buy Gold or Silver, mostly silver. It will be the day to day currency you need.

Buy lead .... and other tangibles. Currency isn't much good if there's nothing to spend it on.

The cost to buy what little there will be left will be a hundred fold as compared to now prices .... buy what you now can.

O.W.

[countryboy6685]

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Buy lead .... and other tangibles. Currency isn't much good if there's nothing to spend it on.

The cost to buy what little there will be left will be a hundred fold as compared to now prices .... buy what you now can.

O.W.

I agree with this 100% . My friends head this wise mans words .
Robert W

[myakka]

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Right again OW & Robert.

There is a song I used to sing for specials in Church "I wish we'd all been ready"
Goes something like "a loaf of bread could buy a bag of gold"

Seems really relevant these days.

[wbroz]

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Buy lead .... and other tangibles. Currency isn't much good if there's nothing to spend it on.

The cost to buy what little there will be left will be a hundred fold as compared to now prices .... buy what you now can.

O.W.

I also agree on this. Several years ago an ice storm took down the power grid that lasted for almost two weeks. I learned first hand about being unprepared. We still had natural gas but without electric heater didn't work. The time I had figured out we were in it for the long haul the house was at 45 degrees and falling. By the time I hit the stores to find an alternative heat source they all had been stripped of everything and I mean EVERYTHING heat related. I had to drive over 60 miles out of the "zone" to get something I could rig into my gas line to keep my family warm. I now have my alternative gas heat source and a 5k generator. If unprepared when this collapse hits there will be nothing left and that my friends is a very sobering reality.