Topic: Dollar coming to an end - page 14. (Read 34949 times)

The Dollar, the Euro and the Yen are losing value, more people understand that they need a global currency that they can trust, maybe Gold or Bitcoin?

You don't understand the purpose of a paper , or digital currency then. Because if you did , you would realize the true reason for the eventual demise of the dollar.

It's great to have a basket of commodities like you listed , but they all have the same inherent problem and that is that they take a longer time to liquidate or trade compared to paper or digital money, in this case pure digital money (Bitcoin & cryptocurrencies) . The dollar will eventually come to an end for many reasons , but the key reason here is that paper currency has become old and obsolete and brighter people are starting to see the benefits a pure digital currency can and will bring over paper currency.

The end.

Fin

/close thread

/lock

/ban anyone below me

If Dollar is printed like crazy, it will disappear soon.

I see the dollar being replaced with a basket of commodities, i.e. Oil, Gold, Corn, Copper or silmilar.  It would be great if Bitcoin was a part of the basket, but I doubt it unless the dollar remains in place and printing like crazy for the next 25 years at least.

How are they able to manipulate the price of gold and silver? Surely they can only make them more scarce by hiding them, unless they have hidden reserves and suddenly "introduce" more precious metals?

I ask this because I'm concerned about the economy and beginning to become interested in keeping a small amount of gold/silver in addition to BTC.

Never underestimate the power of usd, look at how they are able to manipulate gold and silver. they have jackals, operatives, cia, and entire cartel behind

The merchant where you spend USD does not always need to know your identity.

If you get Dollars from ATM and the merchant where you spend them deposit it to the Bank they could trace it to you but it's not money you are trying to hide anyway.

Absolutely.  As cryptocurrencies show their potential we might see an integration, but I don't think the dollar is going anywhere for a while.

And if you get your dollar bills from an ATM and use them on places where they have dollar bill scanners, how do you know that they don't track you?

If you mine BTC, buy it cash and use Tor how would anyone know it's your BTC?

Seriously? The last bastion of freedom? What makes you think that? What's wrong with the euro?

I  do belive dollar bill  still represents the last best bastion of freedom,  in regard to anonimity -better than BTC-and there is a deliberate plan for its complete annihilation .I  embrace evolution but  bitcoin needs to evolve, if  our concern is -should be- anonimity, or switch to another coin that is already offering the required features.

I don't think anyone alive right now will see the end of the dollar.  I say at least 200 more years before the Dollar officially goes away and is worth nothing.  The problem is it will be such a huge transition that it just won't happen over night.  I mean think of the millions of people who would be bankrupt if the dollar lost all value, literally like 95-99% of the US would be worth nothing and bankrupt.

There's a lot of fud coming from both pro and anti-USD, but the dollar isn't invincible and constantly printing more and more can certainly be disastrous. Only time will tell what truly happens but people have been announcing it's collapse probably since it started.

I think that the dollar never coming to an end, because it is not only money, but also a world currency (international means of payment).

It is taking a while because everything is in movement : there are a lot of companies and people creating wealth in the States, a large stock of capital, wealth and skills. Other currencies are going down. In a ponzi or a bubble everything is going fine until it collapses

This is an interesting observation to ponder on. Peter Warburton wrote a book 'Debt and Delusion' in 1999 that is not framed in Austrain economics, but tries to answer the question why money printing did not lead to massive inflation. Warburton also touches this topic in a very clean post from 2001 reflecting his thoughts on the state of affairs: w.gata.org/node/8303 Most of his thoughts still apply today and his remark on the absence of 'a stable numeraire' is very intriguing when thinking about Bitcoin as possible contender.
 
I found the book very hard to read but did so anyway, but - when it comes to the observation that is central in this post - you are better off by reading a review of this book by someone with an Austrian view: http://mises.org/library/debt-and-delusion This one will also take some brain cells to digest and is perhaps more about the thoughts of the reviewer than whats actually in Warburton's book, but it creates the clear outlines of a theory why all this massive money printing has not (yet) led to massive inflation. Johnyj and others are on to something here....

Related to the above and also excellent seed if your mind provides vertile grounds is the theory described in the following blog posts: http://parcontre.blogspot.nl/2008_08_01_archive.html with the update (2013): http://parcontre.blogspot.nl/2013/05/deflation-or-inflation.html
Perhaps very simplistic to some educated souls but it paints a helicopter view of the financial economy versus the real economy over a span of decades and how things seem to go in cycles. Suppose this theory has any merit, we are experiencing a financial economy that is blowing the biggest debt bubble ever while disconnecting with the real economy to an increasing extent. The summary is that either the financial economy will snap and meet the real economy below (deflationary) or the real economy meeting the financial economy above (inflationary). A bit of both could mean Gold at $5,000 and the Dow at 5,000 (if history will again rhyme with a 1:1 Dow/Gold ratio at the bottom of the resolution between the financial and real economy). An interesting theory for the broad picture with some interesting ideas on the historical interest rates. Similar thoughts can be drawn from charts like TobinQ: http://csinvesting.org/2014/01/09/tobins-q-the-market-is-60-overvalued/

These things sure keep away the daily drivel of pundits and guru's on Apple flash crashing and stock markets rising (or gold being manipulated) in sight of near depression of the real economy. In the long run, this will not matter. The case for holding bitcoin will not be made over a time span of 1 year only.

As an end note: 'end of the dollar' is a misleading theme. History shows that even with extreme inflation (like 50% per month), people still use the official currency. The dollar may crash and burn, but will surely not end just like that. Therefore, we should not use this terminology when speaking about this topic.

I'm still waiting for the collapse? Everything sees to be going smoothly.

I can imagine the US dollar losing it's position in the world, but i don't think bitcoin will play any major role in this "collapse". It will be the US's own fault.