The US dollar is DONE!

AMSTERDAM (Reuters) - The U.S. dollar's value is dropping so fast against the euro that small currency outlets in Amsterdam are turning away tourists seeking to sell their dollars for local money while on vacation in the Netherlands.

"Our dollar is worth maybe zero over here," said Mary Kelly, an American tourist from Indianapolis, Indiana, in front of the Anne Frank house. "It's hard to find a place to exchange. We have to go downtown, to the central station or post office.

Source

Small banks and Exchange outlets in Western Europe are refusing to accept US dollars for exchange fearing the currency might become worthless over night.

Tourists who don't have enough money changed are left hanging as they have to go to the major national banks and try to get local currency for their green backs.

WOW! Brace for impact!

Financially strapped states are looking to take away government health insurance and benefits from millions of Americans already struggling with a souring economy.

An Associated Press review of the budgets in all 50 states reveals coverage would be eliminated for hundreds of thousands of poor children, disabled and the elderly. More than 10 million people would lose dental care, access to specialists, name-brand prescription drugs or other benefits. About 20 million could see their care jeopardized by further cuts to doctors' reimbursements.

Source

States' Budget Crises Will Hurt Millions.

Not only the troops but Americans shall all suffer!

I would as always like to point out the fact that whether or not you believe in God or whatever AMERICA...well north America...the USA at least is NOT mentioned in the BIBLE.

I rest my case.

Originally posted by Attari

I would as always like to point out the fact that whether or not you believe in God or whatever AMERICA...well north America...the USA at least is NOT mentioned in the BIBLE.

I rest my case.

What does this mean?
That the dollar is going to fall because the USA isn't mentioned in the bible?

The American Dollar will likely collapse, but it has nothing to do with a bible.

Being a student from Holland I find this really shocking. First Jay-Z started to use Euros in his video clips, then NYC stores started to accept Euros and now small currency exchange offices in Europe don't accept the Dollar anymore.

You are right. Bill Gates was right.


The Dollar is down.

By the way, here you can see a interview with American tourists in Amsterdam:
www.ad.nl...

[edit on 18-3-2008 by Mdv2]

I would as always like to point out the fact that whether or not you believe in God or whatever AMERICA...well north America...the USA at least is NOT mentioned in the BIBLE.

Did you ever read Revelation 18?...The U.S is there, called Babylon the Great!

Get out of the states people.

The final collapse of the Empire then!
Thats what happens when you try and police the world.
So how desperate will America get to stop it falling even further!
The stories that are flying about suggests we may see a global depression?

There is no way the troops can be pulled from Iraq even though its breaking the country,then again no money for the troops.
Thats going to be a bad day for those who are over in Iraq and once the news travels,the american army will be seen as weak!
This wont be just a bad day for us but a bad day for America who may eventually come under attack from terrorists.
Sounds a bit dramatic but some say that when this happens then look out!
Why because America has gone too far in policing other countries who may inturn use it to their advantage.

I dont care what bush says he has put you all up the creek without a paddle and will need very good friends from now on.

yep... I can see the dollar dropped another 0.08 pr 100 from yesterday.

I'm not surprised that those exchange shops are turning away dollars. I wouldn't wan't to get caught with dollars right now unless I was going to buy heaps of electronics in the States and bring em back to Europe.

I'll be keeping an eye on the dollar value through out the day.
At the moment it's 2 dollars pr. pound or 0.63 euro for 1 dollar.


Lol.. sorry for laughing, but as I'm sitting here watching the live feed from the dollar value vs. the Danish one, it's just going down down slowly... dropped 0.0050 the last 10 min.


[edit on 18/3/08 by flice]

what a ridiculous thread. what do you mean the dollar is done? it's always been that way in amsterdam. the dollar will always have value. just because it lost some 3% value doesn't make it done. dollar still good in mexico and all of south america and many places around the world. just because it's that way in holland, it does not represent the world.

There is going to be a paniced reaction to try and stem the tide. War in one form or another will probably be used to divert attention. This will open the door for the enemies of the US to gain a moral high ground and gather support for a coalition to combat American expansion etc etc.

This is now the time to be afraid! things are set to spiral out of control in a big way and because so much capital has already been invested in ethynyl plants there will be no saving the food cops for food anymore.

Originally posted by jedimiller
what a ridiculous thread. what do you mean the dollar is done? it's always been that way in amsterdam. the dollar will always have value. just because it lost some 3% value doesn't make it done. dollar still good in mexico and all of south america and many places around the world. just because it's that way in holland, it does not represent the world.

Source

Another prominent economist has warned that the bottom may soon drop out of the dollar completely as the currency hits fresh lows and continues to sink worldwide. Peter Schiff, a dollar-bear at Security Pacific Capital, told the London Telegraph that the greenback faced the danger of outright collapse as countries in Asia and the Middle East mull plans to break their dollar pegs, which are fueling inflation across the region. -Alex Jones

I can tell you it has not always been like that in Amsterdam.

Some of these days headlines:

Argentina, Brazil to drop U.S. dollar in bilateral commercial transactions
Hong Kong May Ditch Dollar Peg as Currency Drops
Gulf currencies may drop dollar peg
Poland may cut dollar holdings - c.bank official
Jordan cuts US dollar reserves


[edit on 18-3-2008 by Mdv2]

reply to post by jedimiller


It's not ridiculous. The dollar's value keeps slipping, so people who buy dollars know they're losing money. No-one's going to exchange dollars, unless they take a massive commission, as it's just not profitable.

Plus, you can just use your cash card in the ATMs and withdraw €s from your US bank account. Your bank will probably have its wicked way with you, though.

Originally posted by dave420
It's not ridiculous. The dollar's value keeps slipping, so people who buy dollars know they're losing money. No-one's going to exchange dollars, unless they take a massive commission, as it's just not profitable.

well, i'm not in the exchanging business. I've lived in the US a long time and I've never had to exchange the dollar. So this is not affecting the regular people who live here in the states. it may affect the rich who travel overseas but I wouldn't worry to much about them..and it may affect the person who's into exchanging dollars to make a profit. but who cares about investors who are out to get rich. the point is, unless we travel to an expensive tourist area it doesn't matter.

Originally posted by jedimiller
what a ridiculous thread. what do you mean the dollar is done? it's always been that way in amsterdam. the dollar will always have value.

Oh sure, the dollar will still have some worth. It could be use for toilet paper, kindling for a fire, a reminder of the long gone industrial era, more.

After the economy collapses, and the oil stops, and the food stops, and everybody is poor and hungry, I'll give you my dollars you value for any food you may have.

Seriously, the only kind of currency that will have value is that which nobody can just print piles of and cheat with.

You know what I really think? you guys wish the dollar was worth nothing! is that a way to get back at the united states? to throw it on our face? But hating on the dollar because it comes from america only shows you will do anything to destroy it. Ibet many europeans would cheer if the dollar was done. heck, they will probably have pinata parties and have monthly celebrations. I for one, depend only on coin dollars..and I use them all the time.

Originally posted by jedimiller
You know what I really think? you guys wish the dollar was worth nothing! is that a way to get back at the united states? to throw it on our face? But hating on the dollar because it comes from america only shows you will do anything to destroy it. Ibet many europeans would cheer if the dollar was done. heck, they will probably have pinata parties and have monthly celebrations. I for one, depend only on coin dollars..and I use them all the time.

Huh i am abit confused ! Why would Europeans be happy about dollar being worth nothing?

reply to post by jedimiller


Those investors are the ones who own the American economy m8... just like any other western country. Once the dollar drops value businesses get into trading trouble, when businesses get into trouble the employees get into trouble and so does the loans which the businesses have obtained to finance their practice.
When employees get into trouble, ie. fired, they stop buying products which means the businesses make even less money and so the downward spiral will gain momentum.

Originally posted by Attari

Originally posted by jedimiller
You know what I really think? you guys wish the dollar was worth nothing! is that a way to get back at the united states? to throw it on our face? But hating on the dollar because it comes from america only shows you will do anything to destroy it. Ibet many europeans would cheer if the dollar was done. heck, they will probably have pinata parties and have monthly celebrations. I for one, depend only on coin dollars..and I use them all the time.

Huh i am abit confused

! Why would Europeans be happy about dollar being worth nothing?

Yeah we would be so happy, having parties going on here. Jedi, that's really ignorant. If the US economy and Dollar go down, the European economy will go too. So no reason for happy smiling people.

Originally posted by Mdv2

Yeah we would be so happy, having parties going on here. Jedi, that's really ignorant. If the US economy and Dollar go down, the European economy will go too. So no reason for happy smiling people.

Alright, I'll get back to you on that, hard to think right now. 520am here.

reply to post by Attari


What I really find amazing is an American tourist who visited Anne Franck's house.
I have been to Amsterdam several times and have never met anyone who has been.

What a shame that they will have to go to downtown to Central Station.
Just happens to be slap, bang where all the best bar's, coffee house's and Amsterdam's other well known tourist attraction is.
What a shame.

Seriously though, if the dollar really do's go tits up then we are all in for it.
The whole western economy is based on a reasonably strong dollar.
Yes, when it is at around the $2 per £ rate it allows us Brts improved spending power when visiting the US, but do we really want to see the US economy go pear shaped?

I for one do not wish for our colonial cousins to suffer so and know what a serious impact it would have on all our lives.

Remeber the old adage which I think is very, very true;
"When America sneezes Europe catches a cold"

Originally posted by Attari

Originally posted by jedimiller
You know what I really think? you guys wish the dollar was worth nothing! is that a way to get back at the united states? to throw it on our face? But hating on the dollar because it comes from america only shows you will do anything to destroy it. Ibet many europeans would cheer if the dollar was done. heck, they will probably have pinata parties and have monthly celebrations. I for one, depend only on coin dollars..and I use them all the time.

Huh i am abit confused

! Why would Europeans be happy about dollar being worth nothing?

It's sad because some americans actually think like this.
We(USA) trade with europe. Now suppose our dollar continues to plummet and the euro continues to stay the same. We now need more money to buy the same products and let's be real, that is just going to lead to less trade and more domesticated goods. Europe doesn't benefit at all from the dollar going down, they are affected by it just like we are.

"it may affect the rich who travel overseas"
lol are you even serious right now? You honestly can't believe that a lower dollar doesnt affect us, and only affects the "rich who travel overseas". What about the poor who travel overseas, are they fine since they aren't rich?
Why doyou think Bush passed the act giving more money in tax returns. It's either because the economy is slipping and he wants people to spend money so he isn't known as the worse president of all time, or it's because he just wants to reduce the value of the dollar even more. I pray its the former of the two.

You live on the west coast, you ever been to the LA area and seen the "tent-towns"? They seem pretty reminiscent of the shanty/hoovervilles back during the great depression. We are in the worse economic crisis we've ben in since than and if that isn't a cause/effect of the low dollar than I don't know what is.
you think it lost 3% of it's value?? when i moved here about 8 years ago(before bush) the dollar was doing pretty good. The exchange rate to canada was something like a canadian dollar is worth around 60-70 cents american. Now I believe the canadian dollar is worht either slightly more or it's even(depending on when you look at the exchange rate)

It's an attitude like that that is driving this country into the ground, and it's that im better than anyone and nothing effects me attitude that i THINK upsets a few countries around the world. I gotta ask, if the euro goes down would you be cheering and partying??
Maybe you should go back to sleep...lord knows I am

Originally posted by jedimiller

Originally posted by dave420
It's not ridiculous. The dollar's value keeps slipping, so people who buy dollars know they're losing money. No-one's going to exchange dollars, unless they take a massive commission, as it's just not profitable.

well, i'm not in the exchanging business. I've lived in the US a long time and I've never had to exchange the dollar. So this is not affecting the regular people who live here in the states. it may affect the rich who travel overseas but I wouldn't worry to much about them..and it may affect the person who's into exchanging dollars to make a profit. but who cares about investors who are out to get rich. the point is, unless we travel to an expensive tourist area it doesn't matter.

yes but if the US dollar loses its value, all the importers that bring in food have to pay more in dollars for those products from overseas and to make back their extra costs sell it for more at the till - directly affecting YOU.

same thing happens with a whole host of products and happens with the price of gas going up aswell and americans buying products from overseas online also have to pay more, all directly affected by the dollar losing value.

so you cant just say "well hey! i dont travel abroad so i dont care" as its gonna hit home shores as prices rise because of the weak dollar. gas and food prices are already rising in the US because of the inflation hitting the dollar because of the runaway spending your government is using, everything is going to rise as the dollar gets weaker.