The U.S. Dollar Will Collapse: Pictures!
Submitted by legalizeliberty on Fri, 07/22/2011 - 11:52A Thousand Pictures Is Worth One Word
In spite of constant headlines about debts and deficits, most Americans don’t really believe the U.S. dollar will collapse. From knowledgeable investors who study the markets to those seemingly too busy to worry about such things, most dismiss the idea of the dollar actually going to zero.
History has a message for us: No fiat currency has lasted forever. Eventually, they all fail.
BMG BullionBars recently published a poster featuring pictures of numerous currencies that have gone bust. Some got there quickly, while others took a century or more. Regardless of how long it took, though, the seductive temptations allowed under a fiat monetary system eventually caught up with these governments, and their currencies went poof!
You might suspect this happened only to third world countries. You’d be wrong. There was no discrimination as to the size or perceived stability of a nation’s economy; if the leaders abused their currency, the country paid the price.
As you scroll through the currencies below, you’ll see some long-ago casualties. What’s shocking, though, is how many have occurred in our lifetime. You might count how many currencies have failed since you’ve been born.
So what’s the one word for the “thousand pictures” below? Worthless.
Continue:
http://www.infowars.com/a-thousand-pictures-is-worth-one-word/
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The race is on ...
Dollar vs. the Euro ...which one will be first...to go ;)
donvino
This part REALLY caught my attention:
"Investment legend Marc Faber reports that once a country’s payments on debt exceed 30% of tax revenue, the currency is “done for.” On our current path, analyst Michael Murphy projects we’ll hit that figure by October."
So by October, the $#*+ is gonna hit the fan. And I'm looking forward to it :)
no escape from it
it's coming.
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Student Loans
If/when hyperinflation hits then it will be relatively easy to pay off student loans and any other loans correct? It isn't like they can jack up the rates or anything since we've already made an agreement.
Thats the whole point of inflation in the first place.
The government gets to pay off debt easily. But, that means your debts will be easy to pay off too. You'll only be in trouble if you don't have real money stored up to buy the things you need to survive and live. When I start dealing with my school debt, I don't think I'm going to make huge payments. Instead of making large payments to get rid of it, I will probably use that money to buy as much metal as I can. In the long run I don't think I can lose.
I think you have a point
not likely they could jack up rates(legally).
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If only the Federal Reserve would have used Z$!
What was revealed in the audit was startling: $16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments.
The list of institutions that received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows..
Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many many more including banks in Belgium of all places
http://www.unelected.org/audit-of-the-federal-reserve-reveal...
Goodbye dollar.
I won´t miss it.
Only question is: what do we get instead. Probably a gold backed currency of some form. Gold backed dollar or some other global mix.
We better hope enough people get educated on the matter fast enough.
/Mike
Front Fell Off
http://www.youtube.com/watch?v=WcU4t6zRAKg
Hi m72mc
Platinum could replace gold, or platonium maybe?
Here in the US Colonies, the food and drug stores print out legal tender on their recipts, and when a consumer applies plastic, credit or dept, they are rewarded points, and these points can apply to gas cards or some chain restariant or applience retailer.
Where I live, Mendocino, many places take cash only. The corporations are not giving points or recipt money for cash purchases. If one is not too bright in math, they are being ripped off big time by these schemes, and I believe why they are so popular. Seems to be the way we're going. Electric and Plastic tied to fertilizer maybe? ;))
((( hug to you )))
STAND WITH RAND 2016
:)
Thanks my friend in far away Sweden.
I hope you are still holding onto all that gold you got a while ago.
hey Michael Nystrom Thanks for the front page for this article. I missed DP so much when it went down -- glad the site is back & working for Liberty!
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STAND WITH RAND 2016