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Old 01-04-2010, 01:56 PM
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Old 01-04-2010, 02:08 PM
Location: Dorchester
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There is nothing to take it's place. At least nothing as stable as a currency from a nation that has had the same constitution for almost 230 years.
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Old 01-04-2010, 02:09 PM
Location: Sinking in the Great Salt Lake
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After all, who still buys stuff with the denarius? Every dog has it's day, and every party ends eventually.
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Old 01-04-2010, 02:20 PM
Location: Texas
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No. As bad a ride as the Dollar has taken there is no other currency or gov't stable or predictable enough to make the action of switching a safe long-term investment.
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Old 01-04-2010, 02:57 PM
Location: western East Roman Empire
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I have to agree that, for the moment at least, the alternatives are worse.

Nevertheless, I diversify even long-term assets across continents, countries, asset classes, and currencies.

Good Luck!
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Old 01-04-2010, 04:10 PM
Location: Seattle
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JPY has basically been in a recession for 20 years.

EUR is extremely unstable due to so many pseudo third world countries using it, and there have been many rumors plotting its demise if some of the eastern bloc countries start defaulting (right now most notably Greece).

RMB is pegged to the dollar.

The middle east is an unstable joke with only one commodity supporting its entire success.

GBP is in many ways worse off than the USD.

AUD is way too small, although it's been a pretty strong currency, but it's quite unstable.

CAD is strong, but so much of Canada's economy is tied to the US anyway, and it's a joke in terms of world GDP output.

For all the problems with the USD all the other currencies are still a laughable joke compared to the dollar.

Countries, central banks (consumers should too, even in the US) will diversify away from dollar assets, but it's still by far the safest/best currency for the intermediate term. A world currency is pipe dream IMO. We are definitely on track to depreciate the dollar long term, but something has to replace it...that's the thing.
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Old 01-05-2010, 01:27 PM
Location: Raleigh, NC
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Gold is the world currency. Always has been, always will be. It's the first form of currency to be deemed illegal in times of hyperinflation (not that it stops anyone from transacting with it) and the last to be used before a new government and new fiat currency is issued.
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Old 01-05-2010, 08:47 PM
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Indeed. Vietnam one of the first "new economy" economies to start to fail, just closed all their gold trading floors this week. They are saying it is to protect the people. It's really there to protect their currency and thus governmental control. It's all a very predictable pattern.
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Old 01-08-2010, 08:42 AM
Location: San Diego California
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In order to answer that you have to look at why the dollar is now the primary currency and ask if those conditions will continue. The dollar has lost much of its appeal as a stable currency due to deficit spending by both the government and the U.S. public. There is now more debt in dollars than ability to pay that debt. So why is the dollar not being replaced by other currencies? Because the US is still the worlds biggest consumer and countries like China and Saudi Arabia must accept dollars if they want to continue their massive trade deficits with the US. The question is will the US be able to continue to be the "Worlds biggest customer"? For the past 2 decades that purchasing has been done primarily by borrowing. We have been living large on borrowed money on inflated real estate values. We have had to do this because our real wealth engine (manufacturing) has been exported to other countries. Now we are looking at a situation where due to increasing incomes in the third world, demand for resources and goods are also increasing worldwide. As that demand continues to increase, there will be less of a reason for countries to accept the increasingly weakening dollars. What is our countries response to this situation? Print more dollars and attempt to use them to inflate new economic bubbles. The definition of insanity is to continue to do the same thing and expect a different result.
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Old 01-08-2010, 04:42 PM
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Originally Posted by Sprawling_Homeowner View Post
Yes. Ultimately, the global elite want a single world currency. So they will engineer an economic crisis or series of crises to bring this about. They probably won't do it all in one fell swoop because that would be too obvious. But anyone with their eyes open can see the trend.

The next step is to bring about the Amero, which would be a single currency for the US, Canada, & Mexico.

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