If the US dollar collapses what ?

[Arabian]

do you feel they will use as a marker other than gold.. Do you think oil, commodities or some other entity . This could get interesting if an unstable country such as Russia wanted to use there supposely 18 billion in Iron ore reserves to oversee the Euro.lololllol

ps.. If you remember Ford motor company lost 11 billion in cash in 1998 speculating with Russia on iron ore....

 

[Arabian]

ArmyVet has me rolling tonight

 

[mrplunkey]

If the US dollar completely collapsed, it would have a domino effect throughout the world since anything owned in USD's would be worthless. Virtually no economy could handle that.

 

[redsamurai]

alot of people want to go back to gold. Our economy would definitely have to down turn for awhile to readjust. Market prices would have to adjust wildly to compensate.

 

[hog#head#cheese]

Than i guess i wont be broke alone

 

[Razorguns]

going back to gold prevents countries from donig tomfoolery with currency like the us does.

so no.

and forcing arab countries and others to use strictly us dollars to trade commodities prevents it's collapse. even if we have to let a few terrorist attacks slide by once in awhile. its worth it.

r

 

[mrplunkey]

I'll have to remember my econ (Army Vet is probably our guy here), but I think if you tie your currency to any commodity (or to another currency, for that matter) you lose control of your money supply. I vaguely remember something from grad school about being able to either control your interest rate or your exchange rate -- but never both at the same time.

 

[Arabian]

I'll have to remember my econ (Army Vet is probably our guy here), but I think if you tie your currency to anycommodity (or to another currency, for that matter) you lose control of your money supply. I vaguely remember something from grad school about being able to either control your interest rate or your exchange rate -- but never both at the same time.

I think you are right ... I was just trying to see what you thought they would use to back trillions of dollars being printed.. Army Vet will know the answer to this probably..

 

[needtogetarmy]

If the US dollar completely collapsed, it would have a domino effect throughout the world since anything owned in USD's would be worthless. Virtually no economy could handle that.

We would have a global depression if it were to happen today.

I think the collapse will start slowly (IMO it has already started), but once people recognize the dollar is going to be worthless they will dump it en masse, then move to the EURO and other currencies.

China could conquer the USA today without firing a shot. All they would need to do is to dump all of their US debt on the market all at once.

 

[mrplunkey]

We would have a global depression if it were to happen today.

I think the collapse will start slowly (IMO it has already started), but once people recognize the dollar is going to be worthless they will dump it en masse, then move to the EURO and other currencies.

China could conquer the USA today without firing a shot. All they would need to do is to dump all of their US debt on the market all at once.

This is very true.