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Old 06-27-2020, 11:46 AM
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Default Will the dollar collapse?



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https://www.rt.com/business/492775-u...decline-roach/

In another stark warning, senior fellow at Yale University and former chairman of Morgan Stanley Asia, Stephen Roach, says coronavirus may cause dramatic decline of the US dollar in the near future.
“In a Covid era, everything unfolds at warp speed,” Roach said, in an interview with MarketWatch.

The prominent economist has, in recent weeks, been warning about the looming fall of the dollar and the end of its hegemony as a global reserve currency. While he previously predicted a 35-percent drop in the greenback against its major rivals, he now stresses that his forecast may happen “sooner rather than later.”
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Old 06-27-2020, 12:14 PM
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It's shrinking. $6 for a package of hot dogs. $5 for a bag of chips, which I won't pay for either.
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Old 06-27-2020, 12:19 PM
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Originally Posted by slackercruster View Post
https://www.rt.com/business/492775-u...decline-roach/

In another stark warning, senior fellow at Yale University and former chairman of Morgan Stanley Asia, Stephen Roach, says coronavirus may cause dramatic decline of the US dollar in the near future.
“In a Covid era, everything unfolds at warp speed,” Roach said, in an interview with MarketWatch.

The prominent economist has, in recent weeks, been warning about the looming fall of the dollar and the end of its hegemony as a global reserve currency. While he previously predicted a 35-percent drop in the greenback against its major rivals, he now stresses that his forecast may happen “sooner rather than later.”


RT (rt.com) is a Russian state controlled network dispensing propaganda globally.
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Old 06-27-2020, 12:23 PM
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At some point, yes. When is the question...
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Old 06-27-2020, 12:32 PM
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"senior fellow at Yale University and former chairman at Morgan Stanley Asia, Stephen Roach" sounds like a really impotent fella. Does a lot of talking but really doesn't say anything.
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Old 06-27-2020, 01:05 PM
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Yes it will. Not if, but when. When interest rates go up to where we can't pay the debt interest, and pay for everything else it's toast. The Fed has to keep interest rates artificially low for this reason. When it starts, it will unwind pretty fast and bring the whole world economy with it. Europe and the rest of the world are in no better shape than we are.

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Old 06-27-2020, 01:32 PM
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Don't waste your time with RT.com. If it were a newspaper it wouldn't be fit to line a birdcage.

Godspeed.
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Old 06-27-2020, 01:33 PM
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Originally Posted by pikepole20 View Post
Yes it will. Not if, but when. When interest rates go up to where we can't pay the debt interest, and pay for everything else it's toast.
They will always be able to pay the interest; simply sell more bonds.
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Old 06-27-2020, 03:04 PM
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Will the dollar collapse? Absolutely, it's 100% going to happen. The real question is, when will it happen?
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Old 06-27-2020, 04:08 PM
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They will always be able to pay the interest; simply sell more bonds.
That is the problem. Borrowing is already exceeding the amount of people purchasing bonds so the government prints more money. That is why chips are $5 a bag. The interest on the debt is already our second or third highest expense behind SS and military.

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Old 06-27-2020, 04:38 PM
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“We can guarantee cash...we cannot guarantee is purchasing power.” - Alan Greenspan
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Old 06-27-2020, 04:48 PM
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Originally Posted by pikepole20 View Post
That is the problem. Borrowing is already exceeding the amount of people purchasing bonds so the government prints more money. That is why chips are $5 a bag. The interest on the debt is already our second or third highest expense behind SS and military.
In this context, "bonds" refers to the US government securities sold at scheduled government auctions, generally in denominations of $100,000 but ranging up to $1 million and generally purchased by other countries or large companies. There are always buyers for these bonds.

The government is not really printing more physical currency.

https://www.treasury.gov/resource-ce...s/auctions.pdf
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Old 06-27-2020, 08:30 PM
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Define collapse, we lose reserve currency status would be serious but is that a collapse?

An eroding of purchase power is painful but if one has the ability to increase income may not result in collapse.


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Old 06-27-2020, 11:03 PM
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posted in error
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Old 06-28-2020, 12:51 AM
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Quote:
Originally Posted by benson56 View Post
It's shrinking. $6 for a package of hot dogs. $5 for a bag of chips, which I won't pay for either.
Around here $5 has been the price for a bag of chips for a long time. Its just that they've always been on sale for $2 or $2.50. With supply disruptions and added covid costs to supermarkets i don't see food price increases as an accurate measure of the value of the dollar.
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