Topic: Dollar coming to an end - page 24. (Read 34981 times)

Yes I agree with this.
I think not just dollar as currency but whole USA economy is loosing top position in world market and very soon China will replace USA on the top.
In the future I think that BRIC nations will lead the world because of their resources and human power.
 

I think even the people who are 60+ will see a big war before they die....

Things are not exactly looking the greatest right now

Actually, if you are still in adult age, you will most likely still be alive to see the next great war.

For those who are 60+, they may be lucky and be gone before that happen.

Companies are already doing that.

The BRIC nations do hold vast reserves in dollars.
So they do have a vested interest in ensuring that the dollar does not decline.
The decline of the dollar, if it does happen, will happen very gradually.

I finally had a chance to read this today and I thought it was a nice article.  I'm not sure the dollar is doomed but it was nice to see bitcoin get a shout out towards the end of the article.

While it is clear that commerce is moving away from the USD, it is less clear what it is moving towards.  Maybe we are looking at no reserve currency, after all the RMB isn't even freely convertible yet.

Bitcoin coming a begining.

Yes, since the dollar is not actually alive obviously this term is used as hyperbole.  I think that most people predicting the "death of the dollar" are actually taking about a short period of significant super-exponential value loss or by a similar reduction in use world-wide.  Basically if you went on vacation for a few weeks, you'd come back to a thing still called the "dollar" but in practice it would be a totally different beast.

Since QE has basically had the effect of backing USD with mortgages, in the case of an international "run" on dollars the US Federal Reserve will be left with the unenviable position of choosing to let the value of the dollar fall dramatically or choosing to sell all those mortgages to overseas investors.  But of course there will be less value-in-houses available than dollars printed b/c organizations like the Fed and the govt do not produce value.  So it is more likely that the FED will have redeem a lot more dollars for the backing mortgages -- that is, a sudden loss of dollar purchasing power and massive paper profits for the FED which by law will go to the US government to pay off the deficit.

The big losers in this game will be everyone with USD-denominated instruments, including salaries, and the big winners will be USD-denominated liabilities (mortgages for example).

Heh, that was a really good response to that statement.

How is it now obvious the dollar is set to collapse? Everything is in place, all we need are for countries to start realizing that the dollar is worthless (Which is already happening, some countries' banks are pouring their USD into gold) and send it back to the US, causing a massive deflationary cycle and the collapse of the dollar.

Most countries buying gold are either;
1) Morons, cause the dollar will "NEVER" collapse
2) Building up other ways to store value
3) Trying to find a way to maintain value through a dollar collapse

So it is very possible that they are doing any of the mentioned scenarios, but I believe that it has to do with the look of the dollar right now.

Sorry, we're pouring it into Bitcoin. Try trolling those nice Dogecoin or Litecoin folks.

Yeah, but it won't happen. No growth can be sustained forever! Also, I believe it's a tad delusional to think that bitcoin will actually replace the dollar. I guess it'll find it's place somewhere alongside regular FIAT currencies and the current banking system.

All of you against the dollar, pour it into my bank account now. I am calling you out and prove it with your actions that you truly believe dollar is going down the drain, and you are willing to back up your stance instead of slinking back again when things don't turn out the way you want them to.

No? Why do you want to hold a bunch of worthless papers?

BTC won't replace anything - it will be replaced itself by something else.

This is why most of us is here, hoping btc will replace dollar.
If the growth continues exponentially like in the last years, our dreams will come true.

The dollar could not be world reserve currency between tomorrow and whenever, so maybe one day.

Well I wouldn't exactly call this 'failed'. It's just good old inflation. Happens. The wages also increased over time. But hey, if you're right we could swim in milk all day long. Poor cows!

yep BRICS are thinking of taking over the reserve currency part

and bitcoin can take over the paypal/visa/mastercard part, well maybe if they raise the block limit to 5mb and have a 2 minute blocktime with only 5btc per block (to keep things even)

giving bitcoin 25x more transactions per second possibility (was 7 could be 175)

I think there are two different ideas people have when talking about "death of the dollar."  One is that it will lose its status as being used for most transactions around the world.  The second is that it's use will become obsolete due to something like Bitcoin, or going to a barter economy.  

Meh, I still think it's going to take a while for the dollar to die out. Before that even happens, a new currency has to start. Sure we can use online things like bitcoins, but people still like to carry around hard money. It's almost a sort of prize for them for working and earning that money. You can't carry money if you just have bitcoins.

It's good to see usd melting against btc everyday.
I invest my usd in btc i know it will rise.

I'll go one better: I believe central banks WILL include cryptocurrencies (plural) in their reserves (plural).

Make no mistake, behind the scenes the powers that be are formulating systems to make bank (pun intended) on this newfangled experimental money thingie (Bitcoin, et al.) seeing how they can fatten their wallets further, thus allowing the Twins to test the waters.

I say in less than 5 years we'll see existing and start-up companies creating regulated pre-mined altcoins for the sole purpose of generating funding, with said alts traded similarly to how stocks and commodities are traded today. That one key difference is that the altcoins/stocks/shares can be bought/sold/traded sans any exchange of which they'll also be located on, something that's a bit difficult to do with common stocks.

Can you say CC*Trade Financial Corporation (purhaps styled CC*TRADE)? Them guys aren't goin' to miss the boat on this next wave, let alone the new guys entering the market directly outta Harvard, Yale, and...wait for it...MIT.