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Dollar Collapse - It Will Happen Overnight.

 
LiveFreeOrDie
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User ID: 401946
Poland
10/09/2009 11:09 PM
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Dollar Collapse - It Will Happen Overnight.
Imagine waking up one Monday morning and hearing on the news that the dollar has officially been devalued. Old dollars will now buy only a fraction (say 40% or less) of what they did on the previous day. What???

No way. You gotta be kidding, right?

No!

Many economists and financial forecasters believe such an event is now not only likely, it's unavoidable. And, no, there will not be a warning. It will happen literally overnight, most likely on a Sunday late in the evening hours [My input: October 25th?] when markets are closed and most everyone is at home asleep.

Understand the dollar already devaluates on a daily basis. I am not talking about that. The way it now works is prices steadily creep upward, the result of the Fed printing more and more money to pay its outrageous debts. We live with this kind of gradual devaluation everyday. It is called inflation.

An official devaluation works differently. First, such events happen literally overnight. The dollar will devalue a bunch in one big official leap. You will not have time to prepare. It will happen because an official devaluation is the only recourse remaining to the government to stabilize debt, repayment and commerce.

Likely a new dollar will be printed (to be distinguished from the old). You will be given an option to pay in old or new dollars, but if you use old dollars you will pay much more than if you pay using the new dollar. New dollars will replace the old through the banking system, so old dollars will eventually disappear.

As for when all of this may happen, I have read reports which indicate as early as late February or early March of 09. President Obama may then declare a national banking holiday (bank closures) to facilitate implementation of an official devaluation.

If banks do close, only those people with cash in hand will be able to buy necessities, but keep in mind those dollars will buy much less. Also, during this time no checks will be accepted by merchants or be deposited. Debit and credit cards will not work to make purchases, and ATM's will all be closed. Banks could be closed for several days before they are ready to reopen with the new devalued dollar.

What Official Devaluation Means to You

First, whatever dollars you hold in cash or have deposited in banks will be worth much less. They will no longer buy near as much as they did the previous day. Whatever dollars you have in banks will automatically be revalued to reflect their new value. This means more dollars in your bank account. But keep this in mind. Those new dollars will be worth much less than your old dollars once were.

Prices on everything will increase dramatically. It means what cost say $10 the previous week may now cost $16 or $17. If you rent, rent costs will soar overnight. However, whatever debt amount you owe (say on a mortgage or credit card bill) will remain the same, but everything else will increase.

The good news is most everyone's income will increase to match the devaluation percentage. Because you will then have more dollars to pay off old debts, those debts will become easier to pay.

However this is not the end of the story. Because the government is doing nothing to address the underlying cause of the devaluation (fiat currency), inflation and more devaluations will continue to occur.

In other words, however it works (official or gradually), whatever dollars you continue to hold or bank will continue to lose buying power. It makes no difference if you hold new dollars or old, it will become harder and harder to make ends meet.

The only way to end this cycle is to exchange dollars for assets of real value called hard assets. The purpose for doing so is so you never have more paper dollars then you need to pay monthly bills. The idea is to get rid of paper dollars before they lose more value. Remember this: Whatever paper asset you hold, be it an IRA, 401K, Stock, Mutual Fund or cash, will all continue to lose value. They will ALL eventually become worthless, just as all forms of paper assets have done throughout history. Hello??

Oh and buy GOLD and SILVER. DUH!

Jim Lynn
Survive Economic Collapse

Last Edited by LiveFreeOrDie on 10/09/2009 11:10 PM
The tree of liberty must be refreshed from time to time, with the blood of patriots and tyrants.
Bot Watcher
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10/09/2009 11:15 PM
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Re: Dollar Collapse - It Will Happen Overnight.
Hey how de-sensitized can anyone be? judging by the growing chaotic state this planet is in we have already crossed way over the line

It is just ies,oming in rapidly increasing increments.
Quoting: 790077



I couldn't agree more! It's like when I see posters say - "What happened to the summer of Hell?" (or whatever the term was) ... Obviously, these people just stick their fingers in their ears and say, "La la la... I'm not listening!"

They are either morons, shills or totally unconscious pin heads that have their head stuck deep in the sand! THE CRASH HAS BEGUN PEOPLE! The icing just has not been put on the cake!

Wars and rumors of wars on all fronts, an earth that is coming apart at the seams, a country so politically polarized that most people just want to give up, the constitution has been shredded, we as a world are so deep in debt that we'll never see daylight, UFO's, crop circles, conspiracy, crooks, corruption, wall streets a joke, main street is dead, unemployment is at a record high... and I'm sure I'm leaving something out!

If you're not awake yet, then I say, "Fuck it... go back to sleep!" You little shill-boys should've listened to wisdom and gotten your act together long ago, then you wouldn't be trembling in your denial, hoping that someone will agree with your sorry ass and make you feel secure.

It's NOT coming ass-clenches... Its HERE! In October of 2007 we started this slippery slide to whatever awaits us at the bottom of this abyss and we just better quit denying it and just learn how to deal with it! This is the golden opportunity for all the mistreated souls and huddled masses out there to finally come up as winners! Now, quit denying, quit your bitching, quit your partisan crap, quit criticizing and start working together for something positive and good to come out of this!

If you don't have any idea what good can come of this... then stfu


and stop making noise and let some of us think!
Anonymous Coward
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10/09/2009 11:15 PM
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Re: Dollar Collapse - It Will Happen Overnight.
Hopefully soon. I am prepared spiritually, financially, physically, and mentally. Let the PONZI scheme end!!!!
LiveFreeOrDie (OP)

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10/09/2009 11:17 PM
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Re: Dollar Collapse - It Will Happen Overnight.
Hopefully soon. I am prepared spiritually, financially, physically, and mentally. Let the PONZI scheme end!!!!
 Quoting: Anonymous Coward 778529

hf
The tree of liberty must be refreshed from time to time, with the blood of patriots and tyrants.
Anonymous Coward
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10/09/2009 11:22 PM
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Re: Dollar Collapse - It Will Happen Overnight.
I think March 09 is long gone.....


.
Anonymous Coward
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10/09/2009 11:23 PM
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Re: Dollar Collapse - It Will Happen Overnight.
Why does it say this was posted today?
Bot Watcher
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10/09/2009 11:24 PM
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Re: Dollar Collapse - It Will Happen Overnight.
Hopefully soon. I am prepared spiritually, financially, physically, and mentally. Let the PONZI scheme end!!!!
 Quoting: Anonymous Coward 778529


amen !!

That is what I'm talkin' 'bout! This is not a catastophe, but an evolution into what good people have been praying for!

Stop praying for God to stop the crash and pray to speed it up so more of us can survive it!

Revelation says, that the days were shortened because otherwise none would survive. Let's quit hanging on to this un-sustainable, crooked, selfish, greedy existance and help to usher in a new world!
Anonymous Coward
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Korea, Republic of
10/09/2009 11:43 PM
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Re: Dollar Collapse - It Will Happen Overnight.
10/10/09....1/1/09....11/09.....09/11
Anonymous Coward
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10/09/2009 11:49 PM
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Re: Dollar Collapse - It Will Happen Overnight.
yawn yawn yawn yawn whatever shill
Anonymous Coward
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10/09/2009 11:52 PM
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Re: Dollar Collapse - It Will Happen Overnight.
However, whatever debt amount you owe (say on a mortgage or credit card bill) will remain the same, but everything else will increase.

Remember this: Whatever paper asset you hold, be it an IRA, 401K, Stock, Mutual Fund or cash, will all continue to lose value.
 Quoting: LiveFreeOrDie


1. If you owe $100k in mortgage, and new dollars are issued. You will ow $100k in existing dollars and maybe $200k in new dollars. Maybe

2. If you owe 401k stocks, the dollar value will fluctuate, and drop. However, you will still own the number of stocks you have had. This will not change unless the company goes out of business.
Anonymous Coward
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10/09/2009 11:57 PM
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Re: Dollar Collapse - It Will Happen Overnight.
Tee minus 9 years until the dollar collapses.

Get ready, folks.
Anonymous Coward
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10/10/2009 12:02 AM
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Re: Dollar Collapse - It Will Happen Overnight.
Tee minus 9 years until the dollar collapses.

Get ready, folks.
 Quoting: Anonymous Coward 790324



good little shill-boy... just go back to sleep now. The adults want to talk, so stop interrupting.
TRADER.
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Australia
10/10/2009 12:09 AM
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Re: Dollar Collapse - It Will Happen Overnight.
$ BULLISH US DOLLAR OUTLOOK $
Thread: $ US DOLLAR OUTLOOK $ (Page 15)

MASSIVE ASSET DEFLATION IS COMING.
Anonymous Coward
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10/10/2009 12:15 AM
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Re: Dollar Collapse - It Will Happen Overnight.
$ BULLISH US DOLLAR OUTLOOK $
Thread: $ US DOLLAR OUTLOOK $ (Page 15)

MASSIVE ASSET DEFLATION IS COMING.
 Quoting: TRADER. 707045



Knew it wouldn't be long before Trader came by with his same old - same old. Asset deflation is already here. Home prices have been smashed. Gold dropped from 950 to 600 last year. Tech crap (TVs, computers, etc.) are at huge discounts compared to 2007.

The dollar had its run already. Look at the USDX chart the past 6 months. The big drop will happen eventually. And when it does, it will happen FAST.
(i.e. Argentina, Russia, Iceland, Zimbabwe, Mexico)
Resister

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10/10/2009 12:17 AM

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Re: Dollar Collapse - It Will Happen Overnight.
Tee minus 9 years until the dollar collapses.

Get ready, folks.
 Quoting: Anonymous Coward 790324

Years??
Are you blind drunk and stoned deaf?
"God forbid we should ever be 20 years without such a rebellion. The people cannot be all, & always, well informed... If they remain quiet under such misconceptions it is a lethargy, the forerunner of death to the public liberty... Let them take arms... What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots & tyrants. " - Thomas Jefferson in 1787
Anonymous Coward
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10/10/2009 12:20 AM
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Re: Dollar Collapse - It Will Happen Overnight.
10/10/09....1/1/09....11/09.....09/11
 Quoting: Anonymous Coward 790568


sigh
all2human

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10/10/2009 12:21 AM
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Re: Dollar Collapse - It Will Happen Overnight.
$ BULLISH US DOLLAR OUTLOOK $
Thread: $ US DOLLAR OUTLOOK $ (Page 15)

MASSIVE ASSET DEFLATION IS COMING.

Knew it wouldn't be long before Trader came by with his same old - same old.
 Quoting: Anonymous Coward 778529

I'm amazed he still has the gall to show his face around here after Thursdays intervention by Asia. Countries don't have to intervene to prop up bullish currencies.
MagiChristmas

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10/10/2009 12:25 AM
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Re: Dollar Collapse - It Will Happen Overnight.
Tee minus 9 years until the dollar collapses.

Get ready, folks.
 Quoting: Anonymous Coward 790324


More like 9 weeks,
per the TimeTable of Doom. monster
The deception continues to crumble.
Thread: Tips for improving the GLP experience.
Christ was mischaracterized to the point of Crucifixion.
Anonymous Coward
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Hungary
10/12/2009 04:11 PM
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Re: Dollar Collapse - It Will Happen Overnight.
bump hidingbump hidingbump hidingbump hidingbump hidingbump hidingbump hiding
Just sayin'
User ID: 781451
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10/12/2009 04:38 PM
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Re: Dollar Collapse - It Will Happen Overnight.
Look, if the Drudge Report didn't have headlines like "Kiss the Dollar Goodbye" on a daily basis, I might say that the doom was premature .... Also, the Shiite would have hit the fan by now if the Fed didn't kick the can down the road ... I think what we've realized (at least I have) is that 'they' are in control .. they're propping up this house of cards ... and it's just a matter of time before game over.
Anonymous Coward
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United States
10/12/2009 04:39 PM
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Re: Dollar Collapse - It Will Happen Overnight.
I got 10 brand new 20 dollar bills outta the ATM today
They are still printing away
Anonymous Coward
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10/12/2009 04:57 PM
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Re: Dollar Collapse - It Will Happen Overnight.
Headline: Why Did U.S. SDR Holdings Increase Five Fold In The Last Week Of August?

[link to www.zerohedge.com]


Interesting...
Anonymous Coward
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United States
10/12/2009 05:04 PM
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Re: Dollar Collapse - It Will Happen Overnight.
Tee minus 9 years until the dollar collapses.

Get ready, folks.



good little shill-boy... just go back to sleep now. The adults want to talk, so stop interrupting.
 Quoting: Anonymous Coward 783101



you mean tin foil hat people
Anonymous Coward
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10/12/2009 05:07 PM
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Re: Dollar Collapse - It Will Happen Overnight.
jerkit
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10/12/2009 05:13 PM
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Re: Dollar Collapse - It Will Happen Overnight.
Hey how de-sensitized can anyone be? judging by the growing chaotic state this planet is in we have already crossed way over the line

It is just ies,oming in rapidly increasing increments.
Quoting: 790077



I couldn't agree more! It's like when I see posters say - "What happened to the summer of Hell?" (or whatever the term was) ... Obviously, these people just stick their fingers in their ears and say, "La la la... I'm not listening!"

They are either morons, shills or totally unconscious pin heads that have their head stuck deep in the sand! THE CRASH HAS BEGUN PEOPLE! The icing just has not been put on the cake!

Wars and rumors of wars on all fronts, an earth that is coming apart at the seams, a country so politically polarized that most people just want to give up, the constitution has been shredded, we as a world are so deep in debt that we'll never see daylight, UFO's, crop circles, conspiracy, crooks, corruption, wall streets a joke, main street is dead, unemployment is at a record high... and I'm sure I'm leaving something out!

If you're not awake yet, then I say, "Fuck it... go back to sleep!" You little shill-boys should've listened to wisdom and gotten your act together long ago, then you wouldn't be trembling in your denial, hoping that someone will agree with your sorry ass and make you feel secure.

It's NOT coming ass-clenches... Its HERE! In October of 2007 we started this slippery slide to whatever awaits us at the bottom of this abyss and we just better quit denying it and just learn how to deal with it! This is the golden opportunity for all the mistreated souls and huddled masses out there to finally come up as winners! Now, quit denying, quit your bitching, quit your partisan crap, quit criticizing and start working together for something positive and good to come out of this!

If you don't have any idea what good can come of this... then stfu


and stop making noise and let some of us think!
 Quoting: Bot Watcher 783101

applause2
Anonymous Coward
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United States
10/12/2009 05:16 PM
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Re: Dollar Collapse - It Will Happen Overnight.
Oh Shit
Jenn++
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10/12/2009 06:02 PM
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Re: Dollar Collapse - It Will Happen Overnight.
$ BULLISH US DOLLAR OUTLOOK $
Thread: $ US DOLLAR OUTLOOK $ (Page 15)

MASSIVE ASSET DEFLATION IS COMING.
 Quoting: TRADER. 707045


MASSIVE CUT AND PASTE IS COMING. lmao
Some people just don't have the intelligence or creativity to post original thought or opinion. TRADER does ctrl c / ctrl v exceptionally well though.

I'm thinking the govt doesn't care how much gets printed right now because they know they will eliminate 90% of the debt with a 10 to 1 devaluation anyway. Kind of like running up your credit card just before you declare bankruptcy.

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