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The demise of the dollar
Interesting read on the future of the US Dollar >>
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
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2011 Prius |
#2
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Quote:
- Peter.
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2021 Chevrolet Spark Formerly... 2000 GMC Sonoma 1981 240D 4spd stick. 347000 miles. Deceased Feb 14 2021 2002 Kia Rio. Worst crap on four wheels 1981 240D 4spd stick. 389000 miles. 1984 123 200 1979 116 280S 1972 Cadillac Sedan DeVille 1971 108 280S |
#3
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Its a start.
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1982 300GD Carmine Red (DB3535) Cabriolet Parting Out 1990 300SEL Smoke Silver (Parting out) 1991 350SDL Blackberry Metallic (481) "The thing is Bob, its not that I'm lazy...its that I just don't care." |
#4
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I have a problem making pictures out of words but...will this make the price of oil less in the US if they base it on the Yen? Didn't the article say the phase out would take nine years?
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"It's normal for these things to empty your wallet and break your heart in the process." 2012 SLK 350 1987 420 SEL |
#5
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No, probably more. We're going to be scr...d
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80 300SD (129k mi) 82 240D stick (193k mi)77 240D auto - stick to be (153k mi) 85 380SL (145k mi) 89 BMW 535i 82 Diesel Rabbit Pickup (374k mi) 91 Jetta IDI Diesel (155k mi) 81 VW Rabbit Convertible Diesel 70 Triumph Spitfire Mk III (63kmi)66 Triumph TR4a IRS (90k mi)67 Ford F-100 (??) |
#6
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It's a long way further than 9 years IMO. There are 3 oil exchanges, one in London, one in Chicago, and one in Dubai. All are traded in dollars. So new exchanges are going to have to be built, without the help of the existing markets, as Dubai's was. American companies are the biggest explorers, pumpers, and refiners of oil. It's possible Exxon et al will simply move to another country, but that transition is going to cost a lot of money. And as mentioned in the article, most countries have their reserves in dollars. And if it's interim currency is gold, there's going to be cost in actual delivery of the payment.
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1984 300TD |
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"It's normal for these things to empty your wallet and break your heart in the process." 2012 SLK 350 1987 420 SEL |
#8
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It is not a matter of if but a matter of when. Who would like to hold US treasury bond which yields 3.24% ( 10 years ) but the $ goes down in value more than that.
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Not MBZ nor A/C trained professional but a die-hard DIY and green engineer. Use the info at your own peril. Picked up 2 Infractions because of disagreements. NOW reversed. W124 Keyless remote, PM for details. http://www.peachparts.com/shopforum/mercedes-used-parts-sale-wanted/334620-fs-w124-chasis-keyless-remote-%2450-shipped.html 1 X 2006 CDI 1 x 87 300SDL 1 x 87 300D 1 x 87 300TDT wagon 1 x 83 300D 1 x 84 190D ( 5 sp ) - All R134 converted + keyless entry. |
#9
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Whoever's currency oil is traded in becomes a lot richer because their currency becomes more desirable since oil can only be purchased with it. Right now, America is king of oil, and thus king of the world. The proletariat (other countries) want to overthrow the king and get their piece. I suspect a lot of these countries are going to want the exchange in their own currency, so these talks for now should be taken with a grain of salt. Some kind of rotating currency for buying oil is going to make the monetary value of all of them fluctuate wildly. Speculators would manipulate the hell out of both the currency trade and the oil trade.
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1984 300TD |
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"It's normal for these things to empty your wallet and break your heart in the process." 2012 SLK 350 1987 420 SEL |
#11
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I think the goal is to find the most stable currency to use as the trading medium, is it not? The dollar has historically been very stable, relative to other currencies. Our huge debt load and growing trade deficit will not contribute to the stability of the dollar.
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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century OBK #55 1998 Lincoln Continental - Sold Max 1984 300TD 285,000 miles - Sold The Dee8gonator 1987 560SEC 196,000 miles - Sold Orgasmatron - 2006 CLS500 90,000 miles 2002 C320 Wagon 122,000 miles 2016 AMG GTS 12,000 miles |
#12
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In retrospect, taking the dollar off of the gold standard 3 decades ago probably wasn't a good idea...
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2009 ML350 (106K) - Family vehicle 2001 CLK430 Cabriolet (80K) - Wife's car 2005 BMW 645CI (138K) - My daily driver 2016 Mustang (32K) - Daughter's car |
#13
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We can't even come close to covering the dollars out there with gold. Getting off the gold standard made us much richer than we'd be if we hadn't.
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1984 300TD |
#14
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Jonathan 2011 Mazda2 2000 E320 4Matic Wagon 1994 C280 (retired) |
#15
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Quote:
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1984 300TD |
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