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brian0918
Penny Collector Member
USA
315 Posts |
 Posted - 11/24/2009 : 17:50:33
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The dollar index has been trying to break through 75.00 all day and seems poised to plummet soon. Just check out the graph here: You must be logged in to see this link.
What do people think? What do the next 24 hours hold?
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"The man who speaks to you of sacrifice, speaks of slaves and masters. And intends to be the master." -- Ayn Rand
Searched: $2230 Nickels; Liberty: 1; Buffalo: 4; War: 20; 2009: 2; 2010D: 8 |
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Mike
Penny Sorter Member
USA
65 Posts |
Posted - 11/24/2009 : 18:05:44
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| My hunch is that one day the house of cards is going to come down, and the Dollar will lose at least 50% of its value within a matter of hours. When will this happen? I'm surprised it hasn't happened already. |
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brian0918
Penny Collector Member
USA
315 Posts |
Posted - 11/24/2009 : 18:17:46
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| Blind faith does tend to lead to mass suicide. That's all that is keeping this going, after all - faith in government. |
"The man who speaks to you of sacrifice, speaks of slaves and masters. And intends to be the master." -- Ayn Rand
Searched: $2230 Nickels; Liberty: 1; Buffalo: 4; War: 20; 2009: 2; 2010D: 8 |
Edited by - brian0918 on 11/24/2009 18:18:09 |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 11/24/2009 : 18:25:10
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I posted an article titled "The Day the Dollar Died' a short while back. It could tank in a matter of hours or days. But I doubt it. That would mean riots and perhaps a citizen army marching on D.C.. Much more likely to occure would be a gradual but steady decline of the dollar and our standard of living. Much like the frog in the pot with the fire slowly put to it. Before the frog knew it he was frog soup. They did about the same thing to us when they sent our jobs overseas. Slowly the sent them away and told us we didn't need them anymore. We were in the "New Economy" Those who remained working fill-up on cheap imported junk until it was their turn to join the unemployment lines.
What we are seeing now is the greatest redistribution of wealth the world has ever seen and thus far not one shot has been fired. This is all happening by a well planned design by those in power.
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Think positive. |
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brian0918
Penny Collector Member
USA
315 Posts |
Posted - 11/24/2009 : 18:43:32
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| Why do you suppose an unprecedented gargantuan overnight spike in our money supply would lead to a slow, gradual decay in the value of the dollar? That would require those holding the money - those corrupt and inept organizations that bought up worthless "securities" - to suddenly start acting rationally and in their long-term self-interest. Given their addiction to government subsidy, that seems unlikely. It is no different from a drug addiction and can only lead to self-destruction. |
"The man who speaks to you of sacrifice, speaks of slaves and masters. And intends to be the master." -- Ayn Rand
Searched: $2230 Nickels; Liberty: 1; Buffalo: 4; War: 20; 2009: 2; 2010D: 8 |
Edited by - brian0918 on 11/24/2009 18:45:14 |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 11/24/2009 : 19:21:20
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quote:
Originally posted by brian0918
Why do you suppose an unprecedented gargantuan overnight spike in our money supply would lead to a slow, gradual decay in the value of the dollar? That would require those holding the money - those corrupt and inept organizations that bought up worthless "securities" - to suddenly start acting rationally and in their long-term self-interest. Given their addiction to government subsidy, that seems unlikely. It is no different from a drug addiction and can only lead to self-destruction.
Because though gargantuan, most of it remains in the hands of those in power. Joe Bagofdonuts and friends aren't holding much of it. China is still our banker and they are one of the players.
Don't get me wrong, slow decline or not we are going to get screwed. I just don't think we are likely to wake up tomorrow or the next day to see the dollar down the all at once. But that is where it is going. It may just take a while longer than many think so we can "adjust" to it. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 11/24/2009 : 20:32:14
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This is the exact reason you can't keep money in fiat. Don't keep any more in the bank above the bare minimum you need to pay bills, and pick up silver and gold every chance you get. Don't wait for dips, you could get stuck on the sidelines watching the price run away from you. I personally happen to think more along the lines of Jim Willie... that we one day soon will have an overnight devaluation of the dollar by as much as 50%. What the repercussions would be after that who knows, but it wouldn't surprise me if we had rioting and looting nationwide. I heard the real reason the administration is trying to pull the troops from overseas is for civil unrest, and gee... what's with all those detainment camps they've been building lately?  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 11/24/2009 : 21:29:31
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I'm in the slow depreciation of the dollar camp. Our government doesn't want a Revolution, but IMHO they seem to want to see the dollar demise occur slowly. That way the elites of our world maintain control. It would be sort of a stealth destruction of our way of life with most folks wondering why they didn't see it. People get used to things if the change is gradual. It's sort of like loosing the representative democracy that our founding fathers created that is slowly being taken away from us.
drip, drip, drip....ALL GONE!  |
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– Theodore Roosevelt
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 11/24/2009 : 21:36:36
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Expect the dollar index to break below 75 with a vengence when the sales tallies for black Friday are added up. I'd say down to around 73.0-73.2 within 7 days.
Unemployed people (17%+) don't spend a lot on Christmas gifts.
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"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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Nickelless
Administrator
USA
5580 Posts |
Posted - 11/24/2009 : 22:56:40
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quote:
Originally posted by Delawhere Jack
Expect the dollar index to break below 75 with a vengence when the sales tallies for black Friday are added up. I'd say down to around 73.0-73.2 within 7 days.
Unemployed people (17%+) don't spend a lot on Christmas gifts.
I heard something a while back about 72 being a critical level on the dollar index. What happens, or what could happen, if the dollar drops below 72? When was the last time it was below 72? |
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brian0918
Penny Collector Member
USA
315 Posts |
Posted - 11/25/2009 : 03:04:20
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"And I'm freeee.... freee faaallling!"
74.75 and dropping... |
"The man who speaks to you of sacrifice, speaks of slaves and masters. And intends to be the master." -- Ayn Rand
Searched: $2230 Nickels; Liberty: 1; Buffalo: 4; War: 20; 2009: 2; 2010D: 8 |
Edited by - brian0918 on 11/25/2009 03:05:00 |
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brian0918
Penny Collector Member
USA
315 Posts |
Posted - 11/25/2009 : 07:58:27
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| 74.39! |
"The man who speaks to you of sacrifice, speaks of slaves and masters. And intends to be the master." -- Ayn Rand
Searched: $2230 Nickels; Liberty: 1; Buffalo: 4; War: 20; 2009: 2; 2010D: 8 |
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 11/25/2009 : 18:09:48
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quote:
Originally posted by Nickelless
quote:
Originally posted by Delawhere Jack
Expect the dollar index to break below 75 with a vengence when the sales tallies for black Friday are added up. I'd say down to around 73.0-73.2 within 7 days.
Unemployed people (17%+) don't spend a lot on Christmas gifts.
I heard something a while back about 72 being a critical level on the dollar index. What happens, or what could happen, if the dollar drops below 72? When was the last time it was below 72?
I've seen that too. Not sure how they arrived at 72, probably using some of the hocus-pocus they use to interpret chart graphs and market trends, but hey, would do I know?
Last the the dollar broke below 72? IMMSMC, late spring-early summer 08...
The big dollar drop today was a bit surprising, I had thought that it would wait until after black Friday. Maybe it's an anticipatory drop...? If so, what does that foretell about Friday...? 
I have GOT to SPEND MY DOLLARS, FAST! |
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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fb101
Administrator
USA
2856 Posts |
Posted - 11/25/2009 : 19:15:00
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| Wasn't 72 the prior low? That would make it a critical support level. |
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 11/29/2009 : 18:26:41
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quote:
Originally posted by fb101
Wasn't 72 the prior low? That would make it a critical support level.
If I recall, 72 (+/-) was about the lowest that it closed during that period, but there were some intraday dip-spikes to 70? maybe below. Very briefly, maybe 5-10 minutes. |
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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faithnotwork
Penny Pincher Member
USA
121 Posts |
Posted - 12/02/2009 : 20:11:48
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| Yes, I think 71.39 was the prior low. |
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Copper Catcher
Administrator
USA
2092 Posts |
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Dollar about to plummet?
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