U.S. Dollar Will Weaken, Currency Crash Possible, Roubini Says

U.S. Dollar Will Weaken, Currency Crash Possible, Roubini Says

www.bloomberg.com

The dollar will weaken and the U.S. risks seeing a crash of the currency unless it does more to control the deficit and reduce debt, said New York University Professor Nouriel Roubini, who predicted the financial crisis.

“Unless in the medium term these issues of fiscal sustainability are addressed, and unless we mop up that excess liquidity from the financial system, eventually the financial markets and the foreign creditors of the United States might get more concerned about the sustainability of the U.S. fiscal deficit and about the U.S. being tempted to use the inflation tax as a way

(visit the link for the full news article)

He it comes guys, MSM are starting to report some real news again. What do you guys think? How long until we see a currency crash? I wouldn't be surprise if it crashes during the winter, right after the December's sales numbers comes out. What happens after a currency crashes? Can we still buy food and other goods?

www.bloomberg.com
(visit the link for the full news article)



[edit on 4-9-2009 by ddacunha]

Many of us on ATS have been saying this for some time now

This reminds me I have to go out and get more supplies as we've got some new additions to our group.



[edit on 4-9-2009 by warrenb]

And yet, many more have been warning of this for decades.

1991 Bill Cooper's Pale Horse was very careful to describe a near-future end to the dollar on behalf of bringing the NWO coinciding with the release of a deadly pandemic that would strangely effect the strong,young people of the world.

Just a reminder that this has been coming for a long time.

Nixon removing the gold standard...anyone?

I am glad that a lot of folks have been becoming aware, but it is so sad to see it only happen after the fact is already well on its way to a climax.

for over 15 years I looked like a madman with stories of the NWO collapsing the dollar and getting us sick for depopulation and eugenic agenda.

Now its on mainstream tv, months before the final blow...and everyone is so savvy and awake. Yeh...

I guess its better then when anyone who spoke about it was automatically deemed insane or anti-american.

Good luck guys.

PS-17 gallons of water per household member, and lots of food. Get it.

If this happens, we just need to come up with an alternative economy. Such as one based on bartering.

I personally think that right now, with as much corruption there is in our economy right now, wouldn't it make much more sense to just......walk away? And start an underground economy, not based on money, but on a bartering system?

How long do you put up with an economy that isn't working before you walk away?

Here is an analogy. Ever been in a relationship with a corrupt or immoral person? You can beat your head against the wall for years trying to explain, fix, and complain about their actions....but the bottom line is, no matter how hard you try, you cannot make an immoral person behave in a moral way. And staying in the relationship with someone who does not "play by the rules" (when you do) only wears you down, makes you sick, makes you miserable. There comes a day when you just say "Screw it....I'm not playing anymore." And you walk away.

We, the American people, generally play by the rules. We pay our taxes, we our money in banks, we pay our bills. But we're playing with corrupt people. Hhe harder we work for our money, it seems like there are corrupt individuals who want to take our money away....they slam us with fees, they manipulate the stock market, we lose our 401, we lose the value of our homes.

Well, maybe we should all just say "Screw it...we're not playing in this economy anymore." Because we're playing with corrupt people. There are a lot of corrupt people in charge of our money. (Why else would the Fed resist a routine audit if they weren't corrupt?? Because they don't want the people finding out what's really happening with our money....where it's going...what's really happening.)

We've been complaining about this for decades. We've elected tons of politicians who have promised to change the way the economy works. Nothing has changed. Nothing will change. Banks are stronger, the economy is close to collapsing. Why sit around and wait for a "new fix" proposed by the same old corrupt people? Why not.....walk away, and start our own economy?

Why continue to work our butts off for something (money) that is decreasing in value every year? It makes no sense. Until we can get rid of the corruption in the banks, let's walk away from the banks. Let's all barter.


I have already decided to walk away from my home, because the housing crisis has basically made it worthless, and I refuse to pay hundreds and thousands of dollars of my own hard earned money into a house that is worth half of what it was when I bought it.

Maybe I will just walk away from the real world, and figure out a way to barter my skills, instead.

We really don't need Roubini to tell us this. We've known this since the Fed started it's QE, and bailout programs.

Originally posted by projectvxn
We really don't need Roubini to tell us this. We've known this since the Fed started it's QE, and bailout programs.

it's just good to see the MSM letting it out of the box for the average person.

reply to post by nikiano


so everyone is going to be patient and wait till that happens?
no money or at least money worth very little means no food. No food means hungry people. Hungry people means angry people. Angry people means chaos.

human nature and history shows us that if the collapse comes, all hell will break loose

I'm all for an alternative but if there's a crash how long until that alternative gets implemented and in the meantime what do people do for money, food and shelter?

reply to post by warrenb


Well, we don't have to wait for it to crash before we start an alternative economy. Start one now!



[edit on 4-9-2009 by nikiano]

In some ways, we're there already. A 2009 dollar is probably only worth 30 1990 cents!

Originally posted by nikiano
reply to post by warrenb

 

Well, we don't have to wait for it to crash before we start an alternative economy. Start one now!

Originally posted by Donnie Darko
In some ways, we're there already. A 2009 dollar is probably only worth 30 1990 cents!

I So agree. I don't know where everyone shops, but the past few months I can tell you that my dollar isn't making it through the month. There are of course several reasons for this but the Weakening of the dollar is definitely in there.

reply to post by ddacunha


Few people actually read bloomberg news unless you're an ATS member or interested in finance. It's just not that big. I'll accept that it is being put out by the MSM when CNBC stops pumping the market and looking at these things in earnest.

learn from the jews that escaped europe before ww2
learn from the spaniards and italians that escaped from argentina when it collapsed
america is now the worst titanic in world history and anyone not getting out on the lifeboats will be going down.
escape,expatriate,emigrate-your only chance to survive the end

Advice: Instead of hoarding food, hoard seeds.

When people are starving, there is no better currency then food. Just make sure your on good terms with your neighbors.

They will want a good deal and you should provide it.

Instead of hoarding water, figure out how to collect and filter it.

Gutters collect water all the time. Collect gutter water. Then filter it.

Between now and the end of 2010, 300-400 banks are going to fail. Afew will fail this month but the pebble will begin the avalanche in October.

The great health care debate is nothing but a ruse. And DC is in on it. They are giving us something to keep us busy while they work so hard to bankrupt the system.

We can't even afford the current government sponsored programs. How are we going to pay for this new health care stuff??

The markets are doing okay for now so if you still have stocks, September will be the best month to dump them.

It will all start in October but most wont notice until sometime next year.

So start getting ready boys and girls. When the wind and rain start, it will be to late to buy lumber and batteries (hurricane reference).

reply to post by ddacunha


"Black Friday" the day after Thanksgiving. The biggest shopping day of the year. The day when most retailers see the "Black" for the first time in their year! This year the back to school shopping was far lower than expected. The unemployment rate is still rising. Taxes and Fees are still rising. They are predicting a colder-than-usual winter, which will equate to higher utility bills, higher energy costs, and higher oil costs. Black Friday will have to be even better than usual to pull us out of the Death Spiral, but it won't be!!

When Black Friday doesn't produce what it should, and the Seasonal Depression starts to set in with people, and crime goes up during the typical Christmas season, and Suicides go up, and it is cold as hell, and then the stock market responds to the slower sales, and then the government decides it can no longer print funny money to prop everything up, then TSHTF for sure!!

October through January are going to be historic in my opinion, but I think Black Friday will be the true tell-tale sign that hits home with the average person!!

reply to post by Iseekthetruth!!!!!!!!


I'm hear ya, a $100 bill used to last a little while. Once you break it these days it's as good as gone.

$100 is nothing any more