Users Online Now: 1,186 (Who's On?)		Visitors Today: 136,688
Pageviews Today: 618,949	Threads Today: 1,138	Posts Today: 14,401
08:43 PM

News

Back to Forum

Post New Thread

View Favorites

All Indicators point to dollar collapse THIS SUMMER!!

RSS

Anonymous Coward
User ID: 414720
4/14/2008 3:47 AM
Report abusive post

All Indicators point to dollar collapse THIS SUMMER!!

Quote

The Dollar Hasn't Bounced

I first presented the following chart with its downward pointing arrow in my alert on November 11, 2007, and made the following observation. "When taken together, the eerie calm as the dollar collapses and the arrow in the above chart pointing to the building downside momentum suggest that the dollar is nowhere near its final low."

For Chart: [link to goldmoney.com]

I drew the downward pointing arrow back then purposefully. All the signs indicated to me that years of dollar mismanagement were finally taking its toll. I concluded that the dollar was heading for a major collapse that would culminate in a currency crisis by this summer, which is the time frame indicated by the arrow.

Anyone who has read these alerts or the book I co-authored with John Rubino knows that I am expecting a total collapse in the dollar. As I have said many times, the dollar is on the road to the fiat currency graveyard. But the question I am always asked is when will it get there? When will it collapse? The answer is in the above chart – this summer.

The dollar of course has been collapsing for years. Inflation has eroded its purchasing power, and inferior assets on bank balance sheets have debased its quality. What's more, rather than being left unfettered as a neutral tool for use in global commerce by one and all – which is the role required of the world's reserve currency – U.S. politicians have turned the dollar into an imperial weapon to extend their influence, further undermining its usefulness as currency. So it is not surprising that the Dollar Index has declined 41% from its peak on July 5, 2001, nor is what is happening now a surprise. Maybe I should say what isn't happening now. The dollar hasn't bounced.

We can see on the above chart the dollar's steep drop from December 20, 2007 to March 17, 2008. Under intense selling pressure, the dollar fell on 40 of these 60 trading days from 77.79 to its record low of 71.46. That 8.1% drop equates to a breathtaking 50% annual rate of decline. After a drop like that, one would expect a bounce in normal circumstances, just like the dollar bounced after the other huge drops that we can see on the chart. But it didn't happen. Why not?

One can only conclude that these are not normal circumstances. In other words, I think we have reached the 'tipping point'.

More people want out of the dollar than those who are willing to hold it. The final collapse of the dollar begins now. It will I expect play out over the next three to six months, culminating in a major dollar crisis.

I have been waiting for two events in particular to signal that the final collapse of the dollar had begun. One was for the Dollar Index to make a new record low by breaking below 78.30, which it did just a few weeks before I drew the arrow in the above chart last November. The other event was for gold to break above $1,000, which I anticipated would happen this year. Gold did briefly break above $1,000 last month before being beaten back down below that much-watched level by the gold cartel. I recommend reading the article in the current issue of Investor's Digest by John Embry of Sprott Asset Management describing this brief encounter with $1,000.

So the gold cartel once again 'circled the wagons', just like it has done for years at other critical price levels. It temporarily put a lid on gold, thereby keeping it from rising in order to blunt gold's signal that severe problems with the dollar are building. This activity by the gold cartel will be a major topic in next week's conference sponsored by the Gold Anti-Trust Action Committee. GATA's international press release announcing this important conference can be found at the following link: [link to www.gata.org]

Regardless of these recent price capping activities by the gold cartel, there is an important message about recent events embedded in the price action of the above chart. Despite all the central bank intervention, despite the repeated declaration of the so-called "strong dollar" policy, despite all the maneuvering by the Federal Reserve to remove inferior assets off over-leveraged bank balance sheets, despite all the tough talk about being vigilant to "fight inflation", the dollar hasn't bounced. None of these things have helped strengthen the dollar's exchange rate to the world's other major currencies. To me that means the front gate of the fiat currency graveyard is wide open, and the grim reaper is waiting for the dollar to enter on the next new low in the Dollar Index. When that happens, it won't take long for gold and silver to climb back above $1,000 and $20 – and this time stay there.

Anonymous Coward
User ID: 414720 (OP)
4/14/2008 8:55 AM

Re: All Indicators point to dollar collapse THIS SUMMER!!	Quote

Anonymous Coward
User ID: 415189
4/14/2008 9:03 AM

Re: All Indicators point to dollar collapse THIS SUMMER!!	Quote
Good. bring it the fuck on already. We need something to wrench us out of our slumber, slap us in the face, and tell us to get rid of this unnatural, corrupt system. Materialism is like a herd of dinosaurs who casually gaze up in the sky to see a mile-wide asteroid pummeling through the atmosphere. The days of excess, greed, and hatred are finally ending!

Anonymous Coward
User ID: 414720 (OP)
4/14/2008 9:40 AM

Re: All Indicators point to dollar collapse THIS SUMMER!!

Quote

Good. bring it the fuck on already.

We need something to wrench us out of our slumber, slap us in the face, and tell us to get rid of this unnatural, corrupt system. Materialism is like a herd of dinosaurs who casually gaze up in the sky to see a mile-wide asteroid pummeling through the atmosphere. The days of excess, greed, and hatred are finally ending!

Quoting: Anonymous Coward 415189

Well, its going to come, but i wouldnt necisarily be cheering for it, alot of ppl around the world are going to be in a bad place for along time because of those greedy fucks. The food riots have already started.

Anonymous Coward
User ID: 303149
5/1/2008 10:46 AM

Re: All Indicators point to dollar collapse THIS SUMMER!!

Quote

Gulf states are considering dropping their pegs to the dollar after the U.S. currency's decline stoked inflation across the region, Kuwaiti Finance Minister Mustafa al- Shimali said.

``Yes, there are some'' Gulf Cooperation Council states considering dropping their pegs to the dollar, which has fallen 13 percent against the euro in the last 12 months, al-Shimali said in an interview in Kuwait late yesterday without naming the countries. ``Some countries will do what we are doing.'' -- Bloomberg 5/1

Anonymous Coward
User ID: 52612
5/1/2008 10:53 AM

Re: All Indicators point to dollar collapse THIS SUMMER!!	Quote
I can't wait that long, lets hope it collapses next week or so

Anonymous Coward
User ID: 303149
5/1/2008 11:41 AM

Re: All Indicators point to dollar collapse THIS SUMMER!!	Quote
Bloomberg just got rid of the Gulf info.

Anonymous Coward
User ID: 380553
5/1/2008 11:41 AM

Re: All Indicators point to dollar collapse THIS SUMMER!!	Quote
EAT, we need you!!!!!!

Back to Forum

Post New Thread

View Favorites

Vote For Godlike Productions!

Disclaimer:
This website exists for entertainment purposes only. The reader is responsible for discerning the validity, factuality or implications of information posted here, be it fictional or based on real events. Moderators on this forum make every effort to review the material posted on this site however, it is not realistically possible for our small staff to manually review each and every one of the more than 5000 posts GodlikeProductions gets on a daily basis. The content of posts
on this site, including but not limited to links to other web sites, are the expressed opinion of the original poster and are in no way representative of or endorsed by the owners or administration of this website. The posts on this website are the opinion of the specific author and are not statements of advice, opinion, or factual information on behalf of the owner or administration of GodlikeProductions. This site may contain adult content and if you feel you might be offended by such content, you should log off immediately.

Not all posts on this website are intended as truthful or factual assertion by their authors. Some users of this website are participating in internet role playing, with or without the use of an avatar. NO post on this website should be considered factual information on face value alone. Users are encouraged to USE DISCERNMENT and do their own follow up research while reading and posting on this website. Godlikeproductions.com reserves the right to make changes to, corrections and/or remove entirely at any time posts made on this website without notice. In addition, Godlikeproductions.com disclaims any and all liability for damages incurred directly or indirectly as a result of a post on this website.

This site is provided "as is" without warranty of any kind, either expressed or implied. You should not assume that this site is error-free or that it will be suitable for the particular purpose which you have in mind when using it. In no event shall Godlikeproductions.com be liable for any special, incidental, indirect or consequential damages of any kind, or any damages whatsoever, including, without limitation, those resulting from loss of use, data or profits, whether or not advised of the possibility of damage, and on any theory of liability, arising out of or in connection with the use or performance of this site or other documents which are referenced by or linked to this site.

Some events depicted in certain posting and threads on this website may be fictitious and any similarity to any person living or dead is merely coincidental. Some other articles may be based on actual events but which in certain cases incidents, characters and timelines have been changed for dramatic purposes. Certain characters may be composites, or entirely fictitious.

We do not discriminate against the mentally ill!

Fair Use Notice:
This site may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. Users may make such material available in an effort to advance awareness and understanding of issues relating to civil rights, economics, individual rights, international affairs, liberty, science & technology, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C.Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.
For more information please visit:
http://www.law.cornell.edu/uscode/17/107.shtml

This Disclaimer is subject to change at anytime.

Mail Webmaster with questions or comments about this site.

Page generated in 0.454s (6 queries)