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#1
02-11-2011, 10:02 AM
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IMF looking at replacing the US$$
So if the USD is no longer the reserve fund, what happens?
The doom-sayers predict massive inflation and the end of the USA as we know it? Is that possible/ likely? I am no economist, but even I know our economy is a house of cards. Will this be the time it crumbles? What are you doing to maximize your chances of survival? No agenda, just looking for answers. I have no knowledge of how this might play out.
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1982 300SD " Wotan" ..On the road as of Jan 8, 2007 with Historic Tags 
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#2
02-11-2011, 12:12 PM
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Though on balance I'd have to say it probably will not be good for the US. There are those who facilely shout "yay" from the rooftops and are happy with the idea of a reduced US influence in the world. Problem is they are ignorant of the reality that the increase in influence of the likes of China etc is not necessarity a good thing. It is not so much the possibiliyt of the loss of the dollars position of significance in the world that causes the triouble as the trouble the world will be in in that makes the idea of such a chance possible. In other words those whot think history has played itself out and we are entering a time of reduced turmoil and war are pathetically naieve. - 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
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#3
02-11-2011, 12:21 PM
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__________________
01 Ford Excursion Powerstroke 99 E300 Turbodiesel 91 Vette with 383 motor 05 Polaris Sportsman 800 EFI 06 Polaris Sportsman 500 EFI 03 SeaDoo GTX SC Red 03 SeaDoo GTX SC Yellow 04 Tailgator 21 ft Toy Hauler 11 Harley Davidson 883 SuperLow
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#4
02-11-2011, 02:22 PM
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if something that drastic happens, why wouldnt the US key the dollar to the value of the new currency similar to what China does today?
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 1982 300CD Turbo (Otis, "ups & downs") parts for sale 2003 TJ with Hemi (to go anywhere, quickly) sold 2001 Excursion Powerstroke (to go dependably) 1970 Mustang 428SCJ (to go fast) 1962 Corvette LS1 (to go in style) 2001 Schwinn Grape Krate 10spd (if all else fails)
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#5
02-11-2011, 02:52 PM
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http://www.imf.org/external/np/exr/facts/gold.htm "However, it is still an important asset in the reserve holdings of a number of countries, and the IMF remains one of the largest official holders of gold in the world" If they push for a commodity standard, i.e. Gold, the value their holdings would dramatically increase. IMF = 1 USA = 0
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#6
02-11-2011, 02:57 PM
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The scary part is that Fed Notes and US securities are a main part of the balance sheets of many world central banks. The US dollar collapsing will probably topple may other currencies like a domino train.
History has shown that buying silver an gold has allowed people to survive quite well.. But as I think the US is planning another gold confiscation, I'd think that silver is safer... This guy at golddealer seems to have the most competitive prices around. http://www.golddealer.ca/index.cfm?aid=13
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All it takes for evil to prevail is for good men to stand by and do nothing. Too many people tip toe through life, never attempting or doing anything great, hoping to make it safely to death... Bob Proctor '95 S320 LWB '87 300SDL '04 E500 wagon 4matic
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#7
02-11-2011, 04:55 PM
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#8
02-11-2011, 05:28 PM
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__________________
All it takes for evil to prevail is for good men to stand by and do nothing. Too many people tip toe through life, never attempting or doing anything great, hoping to make it safely to death... Bob Proctor '95 S320 LWB '87 300SDL '04 E500 wagon 4matic
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#10
02-11-2011, 05:56 PM
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If the US was to have a significant economic collapse, the condition of our investment portfolios would be the least of out problems. Hopefully, there would be enough notice to get out while the getting is good.
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#11
02-11-2011, 06:06 PM
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__________________
All it takes for evil to prevail is for good men to stand by and do nothing. Too many people tip toe through life, never attempting or doing anything great, hoping to make it safely to death... Bob Proctor '95 S320 LWB '87 300SDL '04 E500 wagon 4matic
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#12
02-11-2011, 06:07 PM
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I think its just a usual "IMF" "Alert" by the fine folks holding a LOT of gold stocks whos tired of the prices not steadily rising--- But I might be wrong,
Oh 5hit --get your money OUT of the bank Now--before they lock you out... and go ahead anfd get that Mog, lots of beef jerky, bullets/ AK and head for the hills!
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#13
02-11-2011, 06:28 PM
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Well, at the very least, the bullets and beef jerky can still be used... And a bit of extra cash in hand ain't gunna hurt you...
__________________
All it takes for evil to prevail is for good men to stand by and do nothing. Too many people tip toe through life, never attempting or doing anything great, hoping to make it safely to death... Bob Proctor '95 S320 LWB '87 300SDL '04 E500 wagon 4matic
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#14
02-11-2011, 06:49 PM
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Somewhere I read/ heard that if society breaks down, it takes only a few days before there is total anarchy.
For the first day or two, there is the "pulling together", " We're all in this together" feeling. Then as petty crooks begin to realize that there is no law enforcement, they begin general looting. A few more days and gangs of thugs take over. The advice given, was to grab whatever provisions and get out of the cities. Is it that serious?
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1982 300SD " Wotan" ..On the road as of Jan 8, 2007 with Historic Tags
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#15
02-11-2011, 11:59 PM
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It is a generally accepted fact that the food chain is in difficulty if seriously interupted for more than seven days. The chance of social breakdown typlified by events like rioting and looting depend a lot on the individual area.Especially the type of attitudes of the areas population. Law and order as visualised by individuals is important in determining events. Places like Detroit for example are higher risk. No doubt the military keep their eyes on any developing situations. Everyone is aware events now anywhere have to be supressed rapidly. The true stupidity is that once riots have occured investments in those areas are no longer likely to occur. The population have almost permanently shot themselves in the foot. Many existing companies will at that point make plans to leave the area. Ghetto type mentality becomes factual at some point. One has to attempt to remove emotion from personal considerations or at least as much as they can. Thirty years ago we as a family made a decision to locate in an area that basically was immune from the economic swings. Although nowhere is going to remain totally unaffected if the swing is too large.. Yes I did observe the industrial base was being erroded even then. I also could not buy into that it could totally be replaced by the service sector. There was no doubt the industrial errosion was going to continue and accelerate. This has happened and continues to occur. Based on there being no real wealth created by the replacement service sector. This ideal it was a valid replacement was and is bull**** in my opinion. The never ending and growing deficits plus the amount of personal money owed by far too many people has grown exponentially over the last thirty years. Has to be some form of proof in itself. The future may have been already spent for at least the remainder of my time. Where we live today has a pretty static economy. When times are good locally it gets a tiny bit better. Conversly when times get bad it only deteriorates a very small if noticeable amount. The swings are absent. Since I was born in a very large city and lived there for most of my life until the time of departure. It really was a quantum leap to relocate. Kind of like entering an alien world. In otherwords my crystal ball back then led me to believe that over the remainder of my life and the wifes. Especially the growing up period of the children the influences upon them and us would be better here. This has proven to be so in spades so far. Income has always remained fairly stable, health care access and quality far surpass larger population areas. There is no crime for all practical purposes. We still have no real reason to lock anything up but for the last five years do lock our front door when retiring for the evening. Plus the educational system functions much better. Virtually no imigration of foreign nationals although I am not really biased. Except so many flooded into the Toronto area it disrupted too many constants in my opinion. Changed the whole character of the city but not in good ways is my belief. Cost of living here is a joke compared to larger cities. The governments have no reason to concentrate much effort here so there is much more freedom as well. Almost universally governments control people with regulations. I have not ever gotten a traffic or parking ticket from the police since arrival. My wife did manage one though when she neglected to mention to me her tags on her car had expired. I really think people get trapped into believing larger cities are in some way good when the reality is otherwise. Here I have had so many more choices when going at anything. There are far fewer constraints. It certainly was not utopia here but in comparison to the current state of the city I grew up in it is now. Percentage wise there is no comparison when it comes to the general happiness of the population. Missfits and unhappiness that the pressure cookers cities are and produce in too much abundance are far far less as well. The subconcious and concious stress people are under do strange things to people. Stress is scarce here. It is as if the local people were wise enough to realise it is not a healthy thing and developed methods of living in ways to avoid most of it. Simply it is a matter of not buying into all the hype propagated in densly populated areas. Real estate of all types was at givaway prices for our first fifteen years here. Anyone could not only buy a decent house but they could pay it off quickly as the principal amounts where so low. There is a real sense of community and interrelationships between people seem to be both much easier and more involved. People have learnt to get along really well and are quite flexiable. It is not every person for themselves. There are never any traffic issues. In our case we are able to have a total enviroment change by just going 17 miles to the cottage. There are less than two million people spread over the four eastern provinces. The next most likely change in general may be in food prices. There is becoming a world wide food shortage. This will drive prices seriously upward in my opinion. May be tough on the younger family if incomes become stagnant. I do not think this is manipulated by intent. The other thing I notice is there is too many places in north america now where people expect the government to signifigantly change what is. I think today perhaps more than ever it is the individual that should make decisions to change their situations if the need is there. That way if the economy should come back they will be in better shape anyways. The old but true expression nothing ventured nothing gained is more relevant today than ever. Last edited by barry123400; 02-12-2011 at 12:21 AM.
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