U.S. dollar could plunge up to 90% in value. Oh boy!

http://www.upi.com/NewsTrack/Business/2007/11/19/forecast_us_dollar_could_plunge_90_pct/4876

RHINEBECK, N.Y., Nov. 19 (UPI) -- A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said.

"We are going to see economic times the likes of which no living person has seen," Trends Research Institute Director Gerald Celente said, forecasting a "Panic of 2008."


Are you ready for the coming trouble? Will you survive? Think of it as the great depression ver 2.0 or worse.

I just swapped out of a Fund and into a Money Market investment. Then I read the Rubini link and he says Money Market investments will suffer as well. How will the dollar devaluaion affect Money Markets. As the dollar goes down,do the MM managers maintain a 'dollar value'? In what?

How the hell do you get ready for something like this? With the exception of stocking up on foodstuffs, I'm not sure how one gets ready for this.

down to a manageable size, say early 1800's, that would also solve a lot of global warming problems

imagine the mass evictions in winter, Blackwater will give you 2 minutes to leave then shoot your ass

but if the Chinese gov collapses and famine ensues, and they invade tword india, it only takes 100 nuclear detonations to winter us into extinction..

:crazy: Who needs WMDs How's this for terrorism.

What rough beast, its hour come round at last, slouches toward America to be born?

Revolution look like a tea party..

We're nearly seven years beyond the point wwe should have been in the streets with torches and pitchforks. I'd even be happy if folks were prepared to use hot tar, chicken feathers, and wooden rails.

:grr:

We won't have any choice, it will be survival of the fittest and since no one will be able to afford simple items like tea, the masses will starve or revolt.

America is way too violent a country to just sit back and starve.

I doubt, FWIW, we will have another great depression. Rich people like breathing or so I would bet.

Since the price of gas could well reach $10/ gallon.

Hyperinflation like Argentina is a massive world wide implications and gold could easily be a safe harbor in that case.

What else can you do?

Invest in things you know you will use. I am buying a 800 fill down comforter. Luxury? No. We shut the heat down to 44 degrees at night, I save on heat & it will last for years.

Buy QUALITY items now. Invest in an expensive pair of shoes that will last several years. If you NEED something, buy the best you can afford (and you can buy used for this, many older items are much better constructed then new), buy it now.

Buy some gold.

And, help each other out.

I would emphasize purchasing essentials now and worry about discretionary comfort items later, when they are practically going to be given away.

Edit:

The earlier people start to do this, the better. This was a lesson I learned right out of college, so I was fortunate and have been "collecting" necessities since the late 80s, including, as you point out, things like shoes, basic clothing, survival equipment, medical, tools, etc...

If the shit really does hit the fan, my fallback plan is to move home to the family farms in central MN. Between my dad, my grandmother, and my 7 uncles on my dad's side, they own over 1200 acres of high-quality farmland. My grandmother lived through the Great Depression, so her knowledge of surviving hard times through gardening, canning, jarring, pickling, sewing, etc, will be invaluable.

To be a talking head these days you have to jump up on the table and rip off your clothes.

http://www.almartinraw.com/public/column335.html

Here’s the most startling statistic of all. Not only has there been a dramatic outflow from so-called regular investors, that is, non-Bush-Cabal-aligned investors (regular investors) out of so-called long-only hedge funds, but there has been a record inflow, particularly into what are known as ‘short funds,’ or funds that specialize in shorting markets. Last week there was a record inflow into so-called “short funds.”

Of course, the bulls would like to talk about the perpetual record short interest on the New York Stock Exchange and a variety of other exchanges. And they say -- Oh, well, you know a short interest is bullish -- the concept being that a record short interest is bullish because eventually those shorts have to be bought back. That’s true, but that presumes that there is a counter-force on the other side that has the ability to mount a rally to induce short-covering. And that does not exist.

What we have seen last week is that there is no such counter-force anymore. Indeed, of the short interest in domestic equity markets, if one looks at all exchanges – NYSE, Amex, OTC, etc. – here’s a startling statistic -- half of all of the short interest is controlled by eight offshore funds, all managed by Carlyle Group or its subsidiaries, trusts, limited partnerships and other such vehicles. I heard this last Wednesday. In these 8 funds, there are only 300 investors common to all 8 funds. They are, in fact, the top 300 members of the Bush Cabal.

Most hold interest through offshore blind trusts, ranging from the Cayman Islands to Panama. But they are all Bush-Cabal-aligned interests. They are the top 300 members of the Cabal that, for lack of a better definition, control the short side of domestic equity markets. And, of all of the planet’s capital marketplaces, the short interest is concentrated in U.S. markets. The short interest in the rest of the planet’s markets is minuscule by comparison.

"Indeed, of the short interest in domestic equity markets, if one looks at all exchanges – NYSE, Amex, OTC, etc. – here’s a startling statistic -- half of all of the short interest is controlled by eight offshore funds, all managed by Carlyle Group or its subsidiaries, trusts, limited partnerships and other such vehicles. I heard this last Wednesday. In these 8 funds, there are only 300 investors common to all 8 funds. They are, in fact, the top 300 members of the Bush Cabal.

Most hold interest through offshore blind trusts, ranging from the Cayman Islands to Panama. But they are all Bush-Cabal-aligned interests. They are the top 300 members of the Cabal that, for lack of a better definition, control the short side of domestic equity markets."

The author interprets this as evidence that only the neocon investors (Bush cronies) think the market will recover, and are hoping to reap a windfall, Hudsucker-style.

Given what happened on 9/11, I see something far more sinister here.

:hi:

Would China stand by and watch its $1.5 trillion in holdings evaporate to $150 billion? They're far from the only ones with huge dollar-denominated funds. Would the Asian economies look on as the US becomes the New China, the prime region for manufacturing and investment? How about letting the US market, still THE market for consumer goods for many countries, become a black hole?

the boys got caught holding funny money from the grifters here in the usa and they are whining like babies. the sky is falling! the sky is falling! ---buy gold! buy gold!

It's a vote that the US is near worthless as an investment. That won't happen. The dollar will be regarded as a bargain long before it could reach a 10% bottom, even if 10% was a true reflection of it's worth. Celente is probably looking to make a little profit for himself and his subscribers by moving the markets with his overwrought doomsaying.

Shake some day traders up and rake in a little profit. Makes sense.

As does your statement about the dollar being a bargain before hitting the bottom.

Thanks. :)

the size of the money supply is completely decoupled from the US economy. If the dollar continues to slide, nations won't want to keep them in reserve and there will be a sell-off, and those dollars will trickle back into the US economy, inflating the dollar. That's what's really happening here. See my post at dKos

and the brits were asking us if we were nuts vacationing there!

cab drivers were telling us they have been coming to the states and feeling as if they were mega rich!!!


one day i walked by a begger ( very few there) and i said he should be paying me!!..that it was Americans who were broke in England..

and my hubby walked into a shop to buy a tie..and the sales person told him..oh you are American..the cheepest tie they had was 100 pounds.....another words the guy was warning my hubby how expensive it would be for an American...

honestly most store sales people actually feel sorry for us!!..then they top it off with a comment like..you should have gotten rid of *...

there is nothing but distain and disgust of little lord pissy pants and his partner Blair.

although they are not too happy with the new PM G.Brown


fly

In the rare occasion I need to wear a tie I buy very el cheapo ones. No one seems to look me badly because of that.

90%.....:rofl:

:shrug:

Why, Rev. Sun Myung Moon. Helen Thomas left the joint when he bought it--no fool, she.

According to this guy, the millenium was supposed to usher in a New Renaissance era. So much for that shit!! Here's what he was saying seven or eight years ago:

Going into the new millennium, Celente, in his book, identifies several of the major trends which he thinks will shape events:

A change in spirit, a return to an ancient ideal We are going to embrace a very difficult philosophy in the new millennium. And it's going to be built on the belief that we're not accidental glitches on an uncaring planet, and that we have a divine purpose.

Nuclear calamity Whether it happens in Russia, because of their rotting facilities throughout the former Soviet Union; whether it happens because of nuclear terrorism; or because of the mountains of nuclear problems that we have right here in the United States and around the world. So, betting on a nuclear calamity, as we say, is like betting on the favorite in a one-horse race.

An environmental age People's immune systems are going to be broken down because of the destruction of the environment....

The combination of increased fallout, more pollution, less safe food supply, new wonder bugs beating out wonder drugs is going to cause a new Black Plague, or new plagues. But, when you put together fallout, more fallout, and plagues, then you also have a real zeal and quest for health, so immune system buildup is going to be a big buzz word for the new millennium...We're going to have a lot of sickly people. By the way, this is going to address the great problem of population growth.

Trend toward health We talk about longevity centers, people are going to go on sabbaticals to learn how to take care of themselves, emotionally, physically and spiritually. We're looking at vitamin counseling becoming a profession, something that barely exists today... The other areas of growth, the biggest area in the whole fast-food area is going to be fast-food health food restaurants. Chains of places where you go to get, and we're not talking tofu hutch, you won't necessarily get soup there, you might get a chicken cutlet sandwich that comes from an organically raised free-range chicken, or a burger that was from cattle that haven't been fed hormones.

An Energy Revolution The dream of Free Energy is about to become technological reality and the single, biggest investment opportunity of the 21st century, its ramifications will extend to practically every aspect of human and planetary life.

Boomtown real estate Select commercial, residential, and retirement real estate will be on the uptrend for at least twenty-five years, buying into choice exurban and Latin American markets in the '90s will prove a sound investment strategy.

Cyber dominance America will continue to reign as the world leader in hardware and software development, this will oblige the rest of the world to communicate in cyber-English.

Technotribalism A combination of corporate downsizing, economic fallback, the home-office trend, interactive communications (especially the perfecting of the video phone), and a big push to small towns will create new postindustrial communities, visionary new social structures with shared political/economic/spiritual ideals and values.

This is a CACHED link, because for some reason, gee, this bullshit has been 'disappeared' from the web! http://64.233.169.104/search?q=cache:6nCHiy9cyJ0J:209.240.148.158/issue11/ar11charting.html+Gerald+Celente+,+millenium&hl=en&ct=clnk&cd=9&gl=us

He's no Nostradamus...take this horseshit with a grain of salt.

IMO.

:thumbsup:

Bravo! :applause:

from Switzerland to Great Britain to here in the United States have only been saying these things for THREE years now, at least.

More like FOUR years.

Does this news about the dollar or the market price of gold per ounce surprise you?

To suggest that is disingenuous.

And why is everyone posting in this thread so gleeful to believe this prediction without knowing the answer to these questions?

http://en.wikipedia.org/wiki/Argentine_economic_crisis_(1999-2002)


http://ideas.repec.org/a/bla/worlde/v27y2004i5p679-697.html

http://search.yahoo.com/search?p=Argentina+currency+collapse&fr=yfp-t-501&toggle=1&cop=mss&ei=UTF-8

http://en.wikipedia.org/wiki/Argentine_economic_crisis_(1999-2002)


http://ideas.repec.org/a/bla/worlde/v27y2004i5p679-697.html

http://search.yahoo.com/search?p=Argentina+currency+collapse&fr=yfp-t-501&toggle=1&cop=mss&ei=UTF-8

:grr:

http://www.time.com/time/world/article/0,8599,199474,00.html

p.s. Nothing on Wikipedia about Argentina & Bartering.... :wtf:

If this happens I see lynch mobs and riots.

Unfortunatly I also see conservative pretzel logic trying to blame us for this.

It seems gradually to be sinking in with the public at large what an economic catastrophe we face.

It's time for people to start making strategic decisions about they are going to use their money tactically to maximize their buying power before it augers in.

Who the fuck knows! This speculation is not predictable.