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What will happen when the US Dollar falls below 80???
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[quote:WW RAUPP:MV80MTUwMzZfNjQ1MTAwOV8yNjYwMEEwNg==] [quote:Anonymous Coward 258514]If a commodity is priced in US dollars, and the US dollar is becoming more worthless against other currencies, then obviously the price of that commodity will rise inversely proportional to the dollars fall....which is exactly what has been happening for the past few years. If you still don't get it, as an example, if the US dollar became worthless...and oil was priced in US dollars, then the price of oil in US dollars would be be what? Infinity because the dollar is worthless. Duh. That's how it works.[/quote] First of all, you are saying oil demand is not driven by a structurally stronger global economy and the rise of emerging markets in Asia and the unprecented economic boom in Africa? All of this is caused by a weaker dollar... Demand has nothing to do with this? So India, being the largest consumer of gold, has nothing to do with a rise in gold prices? All caused by dollars? I heard some egotist dollar blabbering, but this takes the cake. Now, show me why you think so. The US dollar is far from being worthless. The Reichsmark in 1923 was worthless and the Zimbabwe dollar is worthless. The US dollar is, anno 2007, far from being worthless. It's still #1 world reserve currency, nearly all transactions in commodities are priced in dollars and Asian emerging markets buy into US Treasuries. So much for your worthless argument, in both ways. Gold rises due to dollar jitters, oil is more dependent on people buying in large quantities than a farfetched and theorized connection with the US dollar. So oil is going to be $1×10²³ a barrel if a hyperinflation happens in the USA and people will pay for it? What are you, insane? Don't you think that's a little... stupid to say? If that was the case, oil producers would switch to euros or yen but so far, no signs of a decisive shift from dollars to... Whatever. What you're postulating is this: the US dollar will crash despite socio- and economic political situation in the world; still being the worlds reserve currency; global economy still performing strong; no signs of [u]subprime[/u] woes going into regular and clean mortgage market. [/quote]
Original Message
Many people are saying that the USD will drop like a rock once it gets past the crucial 80 mark.
When this happens, and the Federal Reserve Note starts to freefall, what will that mean for the ordinary American?
Will all the Fed. Reserve Notes we have become essentially worthless? Will it be like in the Communist countries back in the late 80s in Europe when the old currency became worthless, they brought in a new currency and everyone who exchanged their old currency for the new one get only a few cents of the original value?
Will precious metals like gold and silver keep their value, or go even higher in value?
WHAT IS GOING TO HAPPEN???
We MUST prepare for this. It's good to know what to do.
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