United Nations warns of possible ?collapse? of the U.S. dollar

[DWB]

U.S. dollar could 'collapse': UN

By Patrick Worsnip, Reuters May 25, 2011

UNITED NATIONS ? The United Nations warned on Wednesday of a possible crisis of confidence in, and even a ?collapse? of, the U.S. dollar if its value against other currencies continued to decline.

In a mid-year review of the world economy, the UN economic division said such a development, stemming from the falling value of foreign dollar holdings, would imperil the global financial system.

The report, an update of the UN ?World Economic Situation and Prospects 2011? report first issued in December, noted that the dollar exchange rate against a basket of other key currencies had reached its lowest level since the 1970s.

This trend, it said, had recently been driven in part by interest rate differentials between the United States and other major economies and growing concern about the sustainability of the U.S. public debt, half of which is held by foreigners.

?As a result, further (expected) losses of the book value of the vast foreign reserve holdings could trigger a crisis of confidence in the reserve currency, which would put the entire global financial system at risk,? it said.

The 17-page report referred at another point to the ?still looming risk of a collapse of the United States dollar.?

Rob Vos, a senior UN economist involved with the report, said if emerging markets ?massively start selling off dollars, then you can have this risk of a slide in the dollar.

?We?re not saying the collapse is imminent, but the factors are further building up that we could quickly come to that stage if other things are not improving quickly on other fronts ? like the risk of the U.S. not being able to service its obligations,? he told Reuters.

UN economists have for some time queried whether the dollar should continue to be the world?s sole reserve currency. Others have also expressed concerns about U.S. finances.

Standard & Poor?s threatened on April 18 to downgrade the United States? prized AAA credit rating unless the Obama administration and Congress found a way to slash the yawning federal budget deficit within two years.

A downgrade would erode the status of the United States as the world?s most powerful economy and the dollar?s role as the dominant global currency.

Treasury Secretary Timothy Geithner said on Wednesday the U.S. government would ?never default on its obligations.?

ASSET BUBBLES

Assessing the broader global economy, the UN report said recovery from the 2008 financial crisis continued to be led by China, India and Brazil, but that their growth outlook was moderating due to fears of inflation and domestic asset price bubbles.

It took a slightly more optimistic view of world growth prospects than it did six months ago, forecasting 3.3% expansion this year and 3.6% in 2012, compared with 3.1% and 3.5% respectively.

The United Nations uses a different exchange rate calculation than the International Monetary Fund and the Organization for Economic Cooperation and Development, making its global growth figures slightly lower.

It boosted its forecast for U.S. gross domestic product growth this year from 2.2% to 2.6% but kept next year?s estimate steady at 2.8%.

The report cut Japan?s growth outlook this year by more than a third to 0.7% following March?s catastrophic earthquake, tsunami and nuclear plant crisis. It put damage to buildings and infrastructure at about 25 trillion yen (US$305-billion) or 5% of GDP.

Despite a recent surge in oil prices, it predicted that barring major disruptions from political unrest in the Middle East, they would level off at an average $99 a barrel this year ? close to the price of U.S. crude on Wednesday ? and fall to an average of US$90 next year.

?Supply and demand conditions do not warrant a continued upward trend,? it said.

Food prices have also been soaring but the report said better harvests were expected to moderate them in the second half of this year.

http://www.canada.com/news/dollar+co...011/story.html

[alias]

Hail Satan!

[faxxaff]

It's not just the US$, but all other currencies ..... money won't be worth the paper it's printed on. Yen and Dollar and Euro and Cable are all doomed ....

[DWB]

Originally Posted by faxxaff

It's not just the US$, but all other currencies ..... money won't be worth the paper it's printed on. Yen and Dollar and Euro and Cable are all doomed ....

It's a card house. And sooner or later, it's all going to come falling down.

In other news...

Deutsche Bank Sees Gold Rising as High as $2,000 an ounce in the next eight months.

http://www.bloomberg.com/news/2011-0...pares-bet.html

[ThatOtherGuy - BANNED FOR LIFE]

This is the United States... To big to fail.

Other countries can let it fall and pay the price. They can pony up and invest in America to insure a return or there investment is shit.
We Americans have nothing to lose and everything to gain by the dollar falling

[DudeRick]

Obamanomics is destroying this country!

[L-Pink]

Originally Posted by ThatOtherGuy

This is the United States... To big to fail.

Other countries can let it fall and pay the price. They can pony up and invest in America to insure a return or there investment is shit.
We Americans have nothing to lose and everything to gain by the dollar falling

That's an interesting view.

.

[alias]

Spin it: http://demonchurch.com/us-dollar-to-...rices-soaring/

[dyna mo]

everything is a ponzi scheme. it's all a house of cards. if there's an nwo/bilderberg group conspiracy, they are only workingto keep this teetering-on-the-edge system together

[DudeRick]

I'm waiting for butt fucked troll 3000 (BFT3K) to start crying... but George Bush... but George Bush... I'll take the Bush economy Back in a heartbeat!

[DWB]

Originally Posted by alias

Spin it: http://demonchurch.com/us-dollar-to-...rices-soaring/

Just about everything I eat over here is more expensive now. Some only a few cents, some up 20 - 30%, depending on what it is.

Sometimes you go to the store and they are limiting how much you can buy of certain items. Sugar, oils, other foods.

It's happening right now. A few more years at this speed and it's going to be ugly.

[faxxaff]

Originally Posted by ThatOtherGuy

This is the United States... To big to fail.
We Americans have nothing to lose and everything to gain by the dollar falling

Look at Google maps and look how small the US is ....

Some conservative Americans tell me they feel the USA will fall apart just like the USSR fell apart because of bankruptcy.

Hope for the best .... but money is going to run into real values.

[dyna mo]

Originally Posted by DudeRick

butt fucked troll 3000 (BFT3K)

i did not know that's what that stood for, good to know!

[Bladewire]

1) We are lowering the value of the U.S. dollar to pay back our debts with cheaper money

2) China pegs their yuan to the U.S. dollar

3) The Dow is now higher then it was in 2006

4) NYMEX-Crude edges up but dollar bounce curbs rise

5) Don't count on the U.N. for ANYTHING useful !

the sky is not falling

[alias]

seeds n juice

[ThatOtherGuy - BANNED FOR LIFE]

1) We are lowering the value of the U.S. dollar to pay back our debts with cheaper money

Exactly. China does not adjust it's currency thus we get unfair trade, America is engaged in unfair trade across the world, where those labor forces are working for pennies.

American dollar falls that trade gap closes.

Foriegn countries want to play with there currency, America is more than capable of playing along and paying back what is owed with a low dollar

As an American citizen it does not effect me one shit.

[onwebcam]

Originally Posted by Squirtit

1) We are lowering the value of the U.S. dollar to pay back our debts with cheaper money

Doesn't make sense since with a lower valued dollar it takes more of them to pay back said debt. And the more they print the more interest the Fed is paid. Which is the bulk of the debt, the interest.

Originally Posted by Squirtit

2) China pegs their yuan to the U.S. dollar

What's your point? Are you aware of the huge problems China is having right now with commodity prices? Food riots and more?

Originally Posted by Squirtit

3) The Dow is now higher then it was in 2006

Because all of the freshly printed money is being used to prop up that ponzi scheme.

Originally Posted by Squirtit

4) NYMEX-Crude edges up but dollar bounce curbs rise

Again since oil is bought and sold with the dollar since the dollar is declining and more and more dollars are being printed the more the price of oil goes up. Any bounces up in the dollar are the market manipulators driving down gold and silver.

Originally Posted by Squirtit

5) Don't count on the U.N. for ANYTHING useful !

We're in agreement here. Only problem is the UN wants the US to crash so they are just announcing what they desire and are trying to achieve.

[alias]

PROTIP: Time to cash out faggots: 10 U.S. dollars = 9.78396994 Canadian dollars

[halfpint]

They were saying on the radio today that if things dont change the UK will go into another Finacial crises which will be worse than the one we are currently in

And also reading this on the BBC

US economic slowdown confirmed by growth figures

US growth slowed in the first three months of 2011 to an annualised rate of 1.8%, which is a 0.4% quarterly rise, the Commerce Department has confirmed.

This compares with an annualised growth rate of 3.1% in the final three months of 2010.

The slowdown was blamed on corporate profits unexpectedly contracting for the first time in more than two years.

Many analysts had been expecting the growth figure to be revised upwards to about 2%.

'Soft patch'

US GDP is expressed as an annualised rate, or annual pace, which shows what the three months' economic activity would mean if it carried on for a year.

Growth in consumer spending, which accounts for more than two-thirds of US GDP, was revised down from 2.7% to 2.2%.

That was balanced by an upward revision to the amount of money businesses were spending on restocking, which was increased from $43.8bn (£26.8bn) to $52.2bn.

"There is no doubt the economy has slowed. We will call the first half of 2011 as a soft patch," said Robert Dye at PNC Financial Services in Pittsburgh.

http://www.bbc.co.uk/news/business-13560856

I think we are all fucked lol

[DudeRick]

3) The Dow is now higher then it was in 2006

And I'm older than I was 5 five years ago... so what?!?

[dyna mo]

Originally Posted by DudeRick

And I'm older than I was 5 five years ago... so what?!?

dude, you are on a roll today!

[Dvae]

Originally Posted by dyna mo

i did not know that's what that stood for, good to know!

Thats because it doesn't

Bind Torture Kill

The F and the 3 are just a disguise.

[dyna mo]

Originally Posted by Dvae

Thats because it doesn't

Bind Torture Kill

The F and the 3 are just a disguise.

, i like the 1st 1 better!

[DateDoc]

With failed economies in Ireland, Portugal and Greece I'm not sure what you would replace the USD with as the Euro is more fucked now. Spain needs help and Italy has such a huge amount of debt they say that bailing Italy out is not an option. Italy is past too big to fail and is too big to bail.

[_Richard_]

Originally Posted by DWB

Just about everything I eat over here is more expensive now. Some only a few cents, some up 20 - 30%, depending on what it is.

Sometimes you go to the store and they are limiting how much you can buy of certain items. Sugar, oils, other foods.

It's happening right now. A few more years at this speed and it's going to be ugly.

or a few more floods you mean..

[Redrob]

Minimize your exposure to cds, stocks and bonds that tie up your liquidity.

Invest in tangible goods that will hold their value and appreciate when the dollar falls such as cases of good whiskey. No matter how bad it gets, alcohol will always be a valuable commodity as means of escape and medicine. Don't buy overpriced and hyped brands, just good solid brands like Johnny Walker, Jim Beam, Southern Comfort. Be sure to store the crates properly.

Be aware of the inflated gold/silver bubble as the price of precious metals could collapse as well during a worldwide financial meltdown. Speculation has lead to the price increases, not that there is reduction in supply or mining has slowed.

Work to become debt free. First, eliminate any variable interest loans that you might have. Next, pay off any mortgages asap. Go to operating on a cash basis as much as possible. If you use credit cards, don't carry a balance.

Also, start securing your homestead with unbreakable storm doors, alarms, hidden safes, choices of weapons and ammo, emergency supplies and take some weapons handling and first aid courses. If possible, insure your access to fresh water by drilling a water well on your property or buying a still.

And these suggestions are just a beginning if you believe the economy is going to meltdown.

No Fear, Just Knowledge!

[Bladewire]

Originally Posted by DudeRick

And I'm older than I was 5 five years ago... so what?!?

You're pretty bright that's cool!

I'll explain it to you like you don't know anything about economics

Going here and selecting the 5 year chart you see that since 2006 the market is up 11.23%

This shows a level confidence in the American market that existed before the crash began.

lemming

[SDA CASH - Banned for Life AGAIN]

I already mentioned in another thread... The US economy will collapse 100% in December this year

[onwebcam]

Originally Posted by Squirtit

You're pretty bright that's cool!

I'll explain it to you like you don't know anything about economics

Going here and selecting the 5 year chart you see that since 2006 the market is up 11.23%

This shows a level confidence in the American market that existed before the crash began.

lemming

That shows the level of manipulation the "Working Group" has done since the crash with all that freshly printed free cash. You know the people who caused the crash, got bailed out and now using said money to do it all over again?

[The Demon]

Originally Posted by Redrob

Minimize your exposure to cds, stocks and bonds that tie up your liquidity.

Invest in tangible goods that will hold their value and appreciate when the dollar falls such as cases of good whiskey. No matter how bad it gets, alcohol will always be a valuable commodity as means of escape and medicine. Don't buy overpriced and hyped brands, just good solid brands like Johnny Walker, Jim Beam, Southern Comfort. Be sure to store the crates properly.

Be aware of the inflated gold/silver bubble as the price of precious metals could collapse as well during a worldwide financial meltdown. Speculation has lead to the price increases, not that there is reduction in supply or mining has slowed.

Work to become debt free. First, eliminate any variable interest loans that you might have. Next, pay off any mortgages asap. Go to operating on a cash basis as much as possible. If you use credit cards, don't carry a balance.

Also, start securing your homestead with unbreakable storm doors, alarms, hidden safes, choices of weapons and ammo, emergency supplies and take some weapons handling and first aid courses. If possible, insure your access to fresh water by drilling a water well on your property or buying a still.

And these suggestions are just a beginning if you believe the economy is going to meltdown.

No Fear, Just Knowledge!

Good arguments except LOL@calling the precious metals a "bubble". I'm not sure you are aware of the difference between a "bubble" and "massive selloff due to changes in margin requirements", but please sell your silver to me, I'll buy it.

[Houdini]

Originally Posted by Squirtit

You're pretty bright that's cool!

I'll explain it to you like you don't know anything about economics

Going here and selecting the 5 year chart you see that since 2006 the market is up 11.23%

This shows a level confidence in the American market that existed before the crash began.

lemming

QE1, 2, zero interest rates and the endless printing of our dollar have driven the stock market up. 3 out of 4 of those will end in 2 months. Let's see what happens after that.

Unemployment is up; commodities are up; European countries are facing financial distress; US states are running out of money; the fed is now raiding gov pensions to help pay our debt, which is increasing daily. Our dollar is only "strong," as you say, because the Euro is getting weaker. Look at a one year chart, the US index is on a steady decline. 28% of homes sold are foreclosures, 5% is normal. There's a million homes in foreclosure that haven't even hit the market, another surge down. The list goes on and on with problems in almost every arena.

The bear market is near.

[Bladewire]

Originally Posted by Houdini

QE1, 2, zero interest rates and the endless printing of our dollar have driven the stock market up. 3 out of 4 of those will end in 2 months. Let's see what happens after that.

Unemployment is up; commodities are up; European countries are facing financial distress; US states are running out of money; the fed is now raiding gov pensions to help pay our debt, which is increasing daily. Our dollar is only "strong," as you say, because the Euro is getting weaker. Look at a one year chart, the US index is on a steady decline. 28% of homes sold are foreclosures, 5% is normal. There's a million homes in foreclosure that haven't even hit the market, another surge down. The list goes on and on with problems in almost every arena.

The bear market is near.

Post links please

[Bladewire]

Originally Posted by onwebcam

That shows the level of manipulation the "Working Group" has done since the crash with all that freshly printed free cash. You know the people who caused the crash, got bailed out and now using said money to do it all over again?

Links please.

I posted links. Please do the same.

[marlboroack]

Old new, it will happen though. Check out the Ziaguiest theory of the Dollar x Euro-Dollar creation and how we are all fucked and shit. Don't watch it stoned though cause you may fall asleep and forget i told you to watch it. It's pretty scary and true in my opinion. Not that "It's a Conspiracy!" shit.

[_Richard_]

Originally Posted by Squirtit

Going here and selecting the 5 year chart you see that since 2006 the market is up 11.23%



lemming

that's quite a source

[papill0n]

Originally Posted by ThatOtherGuy

This is the United States... To big to fail.

Other countries can let it fall and pay the price. They can pony up and invest in America to insure a return or there investment is shit.
We Americans have nothing to lose and everything to gain by the dollar falling

you don't actually believe that do you alien ?

[SDA CASH - Banned for Life AGAIN]

[onwebcam]

Originally Posted by Squirtit

Links please.

I posted links. Please do the same.

"The Working Group on Financial Markets (also, President's Working Group on Financial Markets, the Working Group, and colloquially the Plunge Protection Team) was created by Executive Order 12631,[1] signed on March 18, 1988 by United States President Ronald Reagan."

"Plunge Protection Team" was originally the headline for an article in The Washington Post on February 23, 1997,[2] and has since become a colloquial term used by some mainstream publications to refer to the Working Group.[3][4] Initially, the term was used to express the opinion that the Working Group was being used to prop up the markets during downturns.[5][6] Financial writers for British newspapers The Observer and The Daily Telegraph, along with U.S. Congressman Ron Paul and writers Kevin Phillips (who claims “no personal firsthand knowledge” and is “not interested in becoming a conspiracy investigator”)[7] and John Crudele,[8] have charged the Working Group with going beyond their legal mandate. Claims about the Working Group, which are labeled conspiracy theories by some writers, generally include that it is an orchestrated mechanism that attempts to manipulate U.S. stock markets in the event of a market crash by using government funds to buy stocks, or other instruments such as stock index futures—acts which are forbidden by law. In August 2005, Sprott Asset Management released a report that argued that there is little doubt that the PPT intervened to protect the stock market.[9

http://en.wikipedia.org/wiki/Working...ancial_Markets


HEY, HANK, LET'S SIT DOWN AND CHAT ABOUT THINGS

The President's Working Group has been nicknamed the Plunge Protection Team. And that organization's antics crossed a lot of Wall Street people's minds on Aug. 1 - a week ago yesterday - when the Dow Jones industrial average made a suspicious 150-point gain in the final 20 minutes of trading.

To refresh your memory, the stock market had been getting drubbed in the days before that rally mainly because of worries over subprime mortgage delinquencies and the effect these problems would have on Wall Street and the economy as a whole.

The day after the mysterious 150-point gain, The Wall Street Journal - which is soon to be the kin of this newspaper - headlined the Dow's rise as "out of nowhere."

"Wall Street traders and analysts couldn't cite a specific catalyst for the quick rally, although a wave of pre-placed electronic orders to buy and an earlier pullback in crude oil prices seemed to help," the paper said.

Sure enough, those electronic orders first came from Goldman Sachs (where Treasury Secretary Hank Paulson had been chairman) and was quickly followed by orders to buy stock index futures contracts from Merrill Lynch, Deutsche Bank and Citigroup.

http://www.nypost.com/p/news/busines...Igi0TQU5WWSw4M

Bush convenes Plunge Protection Team

On Friday, Mr Bush convened the so-called Plunge Protection Team for its first known meeting in the Oval Office. The black arts unit - officially the President's Working Group on Financial Markets - was created after the 1987 crash."

"It appears to have powers to support the markets in a crisis with a host of instruments, mostly by through buying futures contracts on the stock indexes (DOW, S&P 500, NASDAQ and Russell) and key credit levers. And it has the means to fry "short" traders in the hottest of oils.

The team is led by Treasury chief Hank Paulson, ex-Goldman Sachs, a man with a nose for market psychology, and includes Fed chairman Ben Bernanke and the key exchange regulators."

http://www.telegraph.co.uk/finance/c...tion-Team.html



Time for Fed to disprove PPT conspiracy theory
Commentary: Analyst charges that government is manipulating markets

WASHINGTON (MarketWatch) -- The massive stock-market rally in the past nine months is mostly due to secret government buying of stock-index futures, a respected stock-market analyst said Tuesday.

Charles Biderman, chief executive of TrimTabs Investment Research, is the latest and most credible person to charge that the Federal Reserve and the Treasury (in league with top Wall Street firms) is rigging the stock market on a daily basis.

http://www.marketwatch.com/story/tim...ory-2010-01-05

[Houdini]

Originally Posted by Squirtit

Post links please

Bernake's QE1 and QE2 Pushed Stocks Skyward

Fed to end QE in June

More are seeking unemployment

Copper, Coal to Lead Three-Year Commodity Rally

US Dollar Index chart High $88.70 6/10/2010, Low $72.97 5/2/2011 - 18% decline

Ten States Where Pensions Are Running Out Of Money

$2tn debt crisis threatens to bring down 100 US cities

Treasury to tap pensions to help fund government

Huge backlog of distressed properties means any housing recovery is a long way away

[alias]

[adultzone]

Just change your currency.

[Emil]

Originally Posted by adultzone

Just change your currency.

That's what I do. I exchange it to gold and silver.

[NewNick]

Originally Posted by DudeRick

I'm waiting for butt fucked troll 3000 (BFT3K) to start crying... but George Bush... but George Bush... I'll take the Bush economy Back in a heartbeat!

Its not the Bush or Obama economy that you want back, its the pre 2008 economy.

That economy was a different lifetime. But it was created over a 20 year period of increasingly unfettered free markets. Increased de regulation of financial institutions and markets, and most importantly massive over trading of assets brought about by technological advances.

Calling it Bush or Obama's fault is ridiculous. Bush senior, Reagan, Clinton, Lawson et al these are the real culprits of the enormous bubble that had to burst.

[MaDalton]

i am almost 40 now, many things were supposed to happen like running out of oil, new ice age, sea level rising, countries and economics collapsing etc. blabla...

nothing that affected me personally ever happened so i stopped caring to read those doomsday news.

[Sid70]

Better if its not. I buy macaroni and spam in bulk.

[Sid70]

Originally Posted by MaDalton

i am almost 40 now, many things were supposed to happen like running out of oil, new ice age, sea level rising, countries and economics collapsing etc. blabla...

nothing that affected me personally ever happened so i stopped caring to read those doomsday news.

It's pretty quiet in Brno town.

[mopek1]

Originally Posted by MaDalton

i am almost 40 now, many things were supposed to happen like running out of oil, new ice age, sea level rising, countries and economics collapsing etc. blabla...

nothing that affected me personally ever happened so i stopped caring to read those doomsday news.

Don't forget running out of food ... it was scientific fact backed by stats that we were going to run out by the 90's ... didn't happen.

[ajrocks]

Originally Posted by DudeRick

Obamanomics is destroying this country!

Ya the issues in the US are all because of Obama. The damage was long done before he got into office. Is he doing a good job cleaning up the mess? No, but he didn't make the mess.

The rest of the world can sit back and enjoy the mess that G.W. Bush made. Cheers to America!

[combson]

Bad dollar is hurting international webmasters even more!

[Adwank Pro]

this kind of rumor, can be very dangerous for small countries like mine, and we had many problems with the dollar and rumors, many people may pay dearly.