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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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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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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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Old 07-14-2020, 05:01 PM
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Default Banks Brace For A Historic Crash

Banks Brace For A Historic Crash With Record Loss Provisions

''Here are the facts: JPMorgan, Citigroup and Wells Fargo (BofA, and a bunch of other banks are set to report on Thursday) set aside almost $28 billion for bad loans inQ2, up almost $10 billion from last quarter, rising to a level just barely surpassed only once before, during the depths of the financial crisis in Q4 2008. While Bloomberg says that "the total was higher than analysts had expected", it was in line with what we said three months ago would happen, with all three lenders saying their economic outlook had deteriorated as the coronavirus continues to rage through the U.S. Total Q2 provisions brought the three banks’ 2020 total to $47 billion, more than those firms set aside in the last three years combined.''

''And it would have been far, far worse had the Fed not nationalized the bond market, allowing banks such as JPM to literally print money by issuing hundreds of billions in risk-free bonds and stocks.''


https://www.zerohedge.com/markets/ba...oss-provisions
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Old 07-14-2020, 05:55 PM
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If you shut the economy down like a spigot there will be consequences.

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Old 07-14-2020, 06:20 PM
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They have millions to donate, and they have.
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Old 07-14-2020, 06:22 PM
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Don't worry, the gubment will keep sending you FREE money!
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Old 07-14-2020, 07:01 PM
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"risk-free bonds and stocks"??

Is that in Unicorns.com?
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