The Collapse of the US Dollar? Riots in the Streets? Not so far fetched: B.R.I.C.S.

**Papasito** · March-28-13, 07:13 AM

B.R.I.C.S. bank instead of world bank?
Brazil
Russia
China
India
South Africa
http://economictimes.indiatimes.com/...w/19243083.cms
Emerging economies of the world are putting the United States in their shadow. The only thing that has kept the US relevant and their currency from collapsing is the dollar being the trading standard of the world. Oil is traded in US Dollars, and we have fought wars to keep it that way. Countries have traded between each other using US Dollars.

Russia and Brazil have announced they are no longer trading with each other on the Dollar. Many countries will likely follow suit.

$30 loaf of bread?
$50 a pound for ground beef?

Yeah, It CAN happen.

Your money in the bank taken away like it happened to everyone in Cypress?

Yeah, It CAN happen.

Ever wonder why the Department of Homeland Security bought up billions of bullets? Was it because of something they know is coming but aren't talking to the public about?
http://www.forbes.com/sites/ralphben...-conversation/

Ever wonder why there are rumors the Government wants leaders who have the determination to fire upon our own citizens [[of course the mainstream media staunchly denies this and so does the Government!)
http://economictimes.indiatimes.com/...w/19243083.cms

Ever wonder why the Government and Law Enforcement are looking to the use of drones Domestically?
http://www.denverpost.com/nationworl...billion-rounds
http://www.aclu.org/blog/tag/domestic-drones

There's a storm coming, folks.
You can debate it, you can say it's a conspiracy theory, but when the Dollar collapses and people are rioting for food and the Government controls us through the powers they are currently expanding, it will be too late.

**MizMotown** · March-28-13, 02:05 PM

Like 911... never say never. It happens in other places there is no guarantee that things won't get worse. Who knows we may be in karmatic times... I'd prefer to be positive but I'm not in denial about anything anymore...

God grant me the serenity to accept the things I cannot change; courage to change the things I can; and wisdom to know the difference.

**MizMotown** · March-28-13, 02:14 PM

entertaining watch...

The Upanishads and Magic [[the power of thought and the powers that be)
http://www.youtube.com/watch?v=SaoctC-D_NI

**rb336** · March-28-13, 03:17 PM

first off, it's not DHS -the increased purchase of small arms ammo it is part of the dod budget, and has been for a decade.

nothing but a bunch of wing-nut fear mongering

**Papasito** · March-28-13, 04:52 PM

Originally Posted by rb336

nothing but a bunch of wing-nut fear mongering

It's being reported in the Mainstream media that BRINCS may likely replace the World Bank as the global trade standard.
It doesn't matter if it's Democrat or Republican in charge.
This is not a partisan issue.

**rb336** · March-28-13, 08:44 PM

Originally Posted by Papasito

It's being reported in the Mainstream media that BRINCS may likely replace the World Bank as the global trade standard.
It doesn't matter if it's Democrat or Republican in charge.
This is not a partisan issue.

Only among themselves. and mostly because they've been screwed by the IMF for decades. The "hysteria" the right is drumming up is utter bullshit. The dollar is still far more stable than any other currency - which is why China keeps manipulating its currency - illegally- to the dollar. This is just another scare - like that the Euro would displace the dollar. utter chicken little guano

**old guy** · March-28-13, 09:13 PM

I don't know rb, sounds like it's time to fold the cards. If his calculations are correct, a quarter pounder with cheese is going to cost well over $100. Essentially we're doomed. Thanks for the heads up Papasito. I guess I better call my son and tell him the news.
Just to clarify how much time we've got left, should I buy up as many unripe bananas as I can, or is it too late to consider buying unripe bananas.

It's just so damn scary thinking that if there's a knock on my door, I answer it, and John Boehner or Joe Biden might be standing there with an AK47, saying lights out old guy. I hope you haven't just been sitting on this information and now you're sharing it with us in the 11th. hour.

**oladub** · March-28-13, 09:34 PM

Only among themselves? The BRICS make up 41% of world population. The US, Euro states, Canada, and Japan, and S. Korea make up about 14% of world population in comparison. The GNP of the US/Euro block, however is much larger for now. BRICS have a much faster rate of growth so that difference is narrowing.

There are no countries on a gold standard. They all inflate their currencies to various degrees. It's less noticeable than raising taxes. China's policy is to inflate its currency in relationship to the dollar for trading purposes. While the US borrows and prints to fight wars and expand welfare programs, China expands its infrastructure and buys commodities with the money it prints. American children will be given debts. Chinese Children will assume infrastructure and commodities.

**old guy** · March-28-13, 09:55 PM

[[CNN) -- As leaders of Brazil, Russia, India, China and South Africa convene in Durban, the term "BRICS" used to describe these rapidly growing economies; today everyone is talking about the "CIVETS."
Made up of Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa -- these nations, some with sizable populations and others with a wealth of natural resources, could be the economic boomers of the next decade, according to John Bowler, director of Country Risk Service at the Economist Intelligence Unit.
Although unlikely to rival the economic might of India and China or the resources of Russia and Brazil, this motley crew of emerging markets make the CIVETS the next band of countries to profit from a shift in global power.

Sounds like the BRICS are having problems deciding where their main bank would operate from. Everyone wants it in their country. It sounds normal to me that half the countries in the world are jockeying for that top position. Are problems running high around the globe, and here at home and are we at risk of a possible financial melt down? Very possible. Is it possible that people could pull their heads out of their butt for a few minutes and we could do something to solve these looming problems? I'd like to think so.

**old guy** · March-28-13, 09:58 PM

Just for the record, I have a hard time believing there actually is an Economist Intelligence Agency. The job requirements to work there must be pretty lax.

**noise** · March-28-13, 10:33 PM

Where are you retreating, Papasito? If this is inevitable, where do you expect to be safe and how/when do you plan on getting there?

**MizMotown** · March-29-13, 07:18 AM

When/if governement collapses in upon itself folks will already be pretty much used to having little instead of striving for THINGS they think will make them happy. Then we will have a society where we don't care so much about obtaining a $500+ IPHONE every 6 months.

Unfortunately there are folks out there who are extremely wealthy & egotisical and look down at the rest of us as necessary [[and unnecessary garbage). A perfect society [[in their view) must be created by any means. They know what they are doing. And it's being accomplished not necessarily through control but very heavy influences. You want to be happier? Turn off the news and television and be liberated by the fact that you can choose not to be hypnotized.

Just sayin...

**noise** · March-29-13, 07:33 AM

If you're paying $500+ for an iPhone every 6 months, you're doing something horribly wrong.

**Zacha341** · March-29-13, 09:02 AM

Hah...

... I agree. That junk does not rule me... they are only tools...

I'm not pressed to change a phone more than once every two years, so I wait for Apple to release their "S" version of their Iphones, when they go down to $50 like the 3Gs, 4Gs etc. Then I purchase.

It's what Apple does... those that rush out for the newest will pay the highest!

**Zacha341** · March-29-13, 09:06 AM

And then there are those on the count down for when the EBT cards stop working. That will not be a good day either.......

**Papasito** · March-29-13, 04:57 PM

Originally Posted by noise

Where are you retreating, Papasito? If this is inevitable, where do you expect to be safe and how/when do you plan on getting there?

OK
No, I can not retreat. Like most Americans, I am enslaved to debt, so I can locked into being stuck like most Americans are. House, Car, Credit Card Debt, Medical Debt, add it up & then some, and most of us are not going anywhere. We are stuck.
We will all look towards Government to help us to eat and to live. We will have no choice, it will be too big a problem for us to solve individually.
At that point, Government takeover of all privately owned property and business is inevitable.

This is not a doomsday, it is a repeat of history.
History repeats itself over and over again. This is nothing new.

Look at Germany - when Hitler took power, a loaf of bread was about 1 Mark. By the time he was done, it was 300. Great societies have risen and fallen, it's the nature of things.
This is no scare propaganda thing. It's a discussion of all the signs and the way things can very possibly go. B.R.I.C.S. is real, the overcirculation of our currency is real [[we are off the gold standard), the decline of US and European dominance is real. The world can very easily be less reliant upon us, and therefore we lose the power of our currency and influence.
Not so far fetched a conspiracy theory.

**noise** · March-29-13, 08:36 PM

Originally Posted by Papasito

OK
No, I can not retreat. Like most Americans, I am enslaved to debt, so I can locked into being stuck like most Americans are. House, Car, Credit Card Debt, Medical Debt, add it up & then some, and most of us are not going anywhere. We are stuck.
We will all look towards Government to help us to eat and to live. We will have no choice, it will be too big a problem for us to solve individually.
At that point, Government takeover of all privately owned property and business is inevitable.

This is not a doomsday, it is a repeat of history.
History repeats itself over and over again. This is nothing new.

Look at Germany - when Hitler took power, a loaf of bread was about 1 Mark. By the time he was done, it was 300. Great societies have risen and fallen, it's the nature of things.
This is no scare propaganda thing. It's a discussion of all the signs and the way things can very possibly go. B.R.I.C.S. is real, the overcirculation of our currency is real [[we are off the gold standard), the decline of US and European dominance is real. The world can very easily be less reliant upon us, and therefore we lose the power of our currency and influence.
Not so far fetched a conspiracy theory.

If its not a scare tactic, you're a coward. Cowards will not react to a real threat.

Of course, it's all nonsense.

**Jimaz** · March-29-13, 08:50 PM

To the guy whose hair is perpetually on fire: Take a CO₂ shampoo already.

**oladub** · March-31-13, 07:58 PM

Add Australia to the list of countries in the OP choosing to no longer use the US dollar as a reserve currency with China. It's odd that this story came out on Easter.

Pros and cons of the dollar being the world's reserve currency. The biggest problem seems to be a concern that to the extent that the dollar loses its reserve currency status, interest rates will rise.
http://finance.yahoo.com/news/primer...172131250.html

**old guy** · March-31-13, 08:32 PM

Interesting. Australia is the only country on that list that doesn't receive foreign aid from the U.S.

**rb336** · March-31-13, 10:48 PM

The Aussie is already considered a reserve currency. It's kind of interesting that the article Ola linked to doesn't even mention Australia, but does further support the much ado about very little aspects of this imaginary crisis

**oladub** · April-01-13, 01:22 AM

Originally Posted by rb336

The Aussie is already considered a reserve currency. It's kind of interesting that the article Ola linked to doesn't even mention Australia, but does further support the much ado about very little aspects of this imaginary crisis

The link supplied defined both the pro and con of being a reserve currency. No one suggested that it mentioned Australia. One country after another is rejecting the US dollar as a reserve currency. Since when is the Aussie a reserve currency like the dollar or Euro?

Edited to add: The cavalry has arrived! Our national debt problem is being addressed. President "Obama has proclaimed the month of April as the “National Financial Capability Month". During the “National Financial Capability Month" Obama wants to teach young people “how to budget responsibly." Really, the President must have turned the corner. Then again, today is April Fools Day so I am more suspicious then usual about the things I read. There is a serious discussion on Yahoo Answers about whether this is an April Fools story or if the president bumped his head.
http://answers.yahoo.com/question/index?qid=20130401091257AAdK85A

**ghettopalmetto** · April-01-13, 07:43 PM

Originally Posted by oladub

The link supplied defined both the pro and con of being a reserve currency. No one suggested that it mentioned Australia. One country after another is rejecting the US dollar as a reserve currency.

Says Ron Paul, and just about no one else.

Think about it. If nations were rejecting the USD as a reserve currency, wouldn't the Federal Reserve boost interest rates to make it more attractive? Of course, we're not seeing this take place, and nations are still buying Dollars [[How else do you think debt is financed?).

From an anecdotal perspective, I have a summer trip planned. In the five nations I'll be visiting, four different currencies are used. The dollar has been gaining against three of them, and remaining dead-even with the other [[I suspect that nation--like a few others--pegs its currency to the USD).

Check out xe.com Data is your friend.

**oladub** · April-01-13, 11:43 PM

gp says, "Says Ron Paul, and just about no one else."

To make things easier for you, here is the link to the Yahoo article you question but don't seem to have read. http://finance.yahoo.com/news/primer...172131250.html
Yahoo says so. Maybe Ron Paul is winning the argument. It is a balanced article pointing out the pros and cons about being a reserve currency.

Think about it. If nations were rejecting the USD as a reserve currency, wouldn't the Federal Reserve boost interest rates to make it more attractive? Of course, we're not seeing this take place, and nations are still buying Dollars [[How else do you think debt is financed?).

Increasing the interest rate will make the sequester look like a picnic. No, the Fed will probably just print and buy more money. All the printing has contributed to making US dollars less attractive. Fewer nations are buying dollars. That's what this is about. Australia, in this case, saves money by swapping money with China instead of hiring middlemen to convert currency into US dollars first. An unnecessary step has been eliminated as well as some demand for US dollars. Less demand for US dollars internationally will drive those dollars home. A larger domestic supply of dollars chasing after the same amount of goods and services will drive prices up.

From an anecdotal perspective, I have a summer trip planned. In the five nations I'll be visiting, four different currencies are used. The dollar has been gaining against three of them, and remaining dead-even with the other [[I suspect that nation--like a few others--pegs its currency to the USD).

Check out xe.com Data is your friend.

All counties have fiat currency like the US. Some European countries are in such a financial mess that the US dollar is seen as more stable than the local currency creating some demand for US dollars. China and Taiwan both peg their currency to the US dollar for trade purposes. I already addressed that in post #8.

**ghettopalmetto** · April-02-13, 09:02 AM

Originally Posted by oladub

To make things easier for you, here is the link to the Yahoo article you question but don't seem to have read. http://finance.yahoo.com/news/primer...172131250.html
Yahoo says so. Maybe Ron Paul is winning the argument. It is a balanced article pointing out the pros and cons about being a reserve currency.

Increasing the interest rate will make the sequester look like a picnic. No, the Fed will probably just print and buy more money. All the printing has contributed to making US dollars less attractive. Fewer nations are buying dollars. That's what this is about. Australia, in this case, saves money by swapping money with China instead of hiring middlemen to convert currency into US dollars first. An unnecessary step has been eliminated as well as some demand for US dollars. Less demand for US dollars internationally will drive those dollars home. A larger domestic supply of dollars chasing after the same amount of goods and services will drive prices up.

All counties have fiat currency like the US. Some European countries are in such a financial mess that the US dollar is seen as more stable than the local currency creating some demand for US dollars. China and Taiwan both peg their currency to the US dollar for trade purposes. I already addressed that in post #8.

Even the article you linked--which appears to be a primer on reserve currency--claims that US Dollars are over 60% of all reserve currencies in the world. It also states that the total amount of reserve currencies increased about 600% from 1995 to 2011. That's an INCREASE, not a decrease, and hardly the enormous sell-off that you claim.

So why the panic there, Chicken Little?

I really don't understand what you're trying to say, or how this somehow affects anyone, or is a problem. The more you post about monetary matters, the more I'm convinced you don't understand money one bit.

By the way, how are those skyrocketing interest rates you've been warning us about?