Interesting Video on U.S. Debt & Dollar Future

[faterikcartman]

[quote=sdrealtor]I just watched the video and was underwhelmed. He opened by claiming to have spent an untold fortune creating the video and constantly spoke about things only he saw coming. The video was something my 11 year old could have created on Powerpoint and was full of things we have been openly discussing for the better part of 5 years on this blog. Same old, same old. I didnt have the patience to wait to see what he was selling.[/quote]

I’m surprised you even bothered to watch it — I didn’t, and didn’t think for a minute I wouldn’t have a good sense of what everyone, or the person in the video, was talking about. If I’ve made a mistake and this is something I really need to see by all means tell me.

Anyway, I think the history of Argentina probably provides a lot of clues as to where things might go. From debt, to mortgage failure, to inflation, throughout the years there’s something for everyone. When I hear about the talk of suppressing talk radio today and Obama’s cult of personality I can’t help but think of the Peron years in the 1940’s. It’s all there. I think, however, given the bullseye on the USA I think we’ll have greater national security concerns.

[paramount]

One or two scenarios will probably emerge:

1. There will be a world currency; countries will no longer be able to print their way out of economic problems at the expense of others. Every attempt will be made to make this world currency more stable than the dollar.

or…

2. Several world currencies will emerge; that may be happening right now.

Either way, the dollar at some point will no longer be the dominant reserve currency.

RICHMOND, Va. (Dow Jones)–Federal Reserve Bank of Richmond President Jeffrey Lacker Friday said the U.S. dollar would likely retain its position as an international reserve currency.

January 14, 2011:

RICHMOND, Va. (Dow Jones)–Federal Reserve Bank of Richmond President Jeffrey Lacker Friday said the U.S. dollar would likely retain its position as an international reserve currency.

“I’m fairly optimistic that we are going to retain a fairly strong position as an international reserve currency,” he said at a Risk Management Association event. “If that were to erode–if our share of the international reserve currency market were to erode–I don’t think it would cause any material problem for us.”

[paramount]

One or two scenarios will probably emerge:

1. There will be a world currency; countries will no longer be able to print their way out of economic problems at the expense of others. Every attempt will be made to make this world currency more stable than the dollar.

or…

2. Several world currencies will emerge; that may be happening right now.

Either way, the dollar at some point will no longer be the dominant reserve currency.

RICHMOND, Va. (Dow Jones)–Federal Reserve Bank of Richmond President Jeffrey Lacker Friday said the U.S. dollar would likely retain its position as an international reserve currency.

January 14, 2011:

RICHMOND, Va. (Dow Jones)–Federal Reserve Bank of Richmond President Jeffrey Lacker Friday said the U.S. dollar would likely retain its position as an international reserve currency.

“I’m fairly optimistic that we are going to retain a fairly strong position as an international reserve currency,” he said at a Risk Management Association event. “If that were to erode–if our share of the international reserve currency market were to erode–I don’t think it would cause any material problem for us.”

[paramount]

One or two scenarios will probably emerge:

1. There will be a world currency; countries will no longer be able to print their way out of economic problems at the expense of others. Every attempt will be made to make this world currency more stable than the dollar.

or…

2. Several world currencies will emerge; that may be happening right now.

Either way, the dollar at some point will no longer be the dominant reserve currency.

RICHMOND, Va. (Dow Jones)–Federal Reserve Bank of Richmond President Jeffrey Lacker Friday said the U.S. dollar would likely retain its position as an international reserve currency.

January 14, 2011:

RICHMOND, Va. (Dow Jones)–Federal Reserve Bank of Richmond President Jeffrey Lacker Friday said the U.S. dollar would likely retain its position as an international reserve currency.

“I’m fairly optimistic that we are going to retain a fairly strong position as an international reserve currency,” he said at a Risk Management Association event. “If that were to erode–if our share of the international reserve currency market were to erode–I don’t think it would cause any material problem for us.”

[paramount]

One or two scenarios will probably emerge:

1. There will be a world currency; countries will no longer be able to print their way out of economic problems at the expense of others. Every attempt will be made to make this world currency more stable than the dollar.

or…

2. Several world currencies will emerge; that may be happening right now.

Either way, the dollar at some point will no longer be the dominant reserve currency.

RICHMOND, Va. (Dow Jones)–Federal Reserve Bank of Richmond President Jeffrey Lacker Friday said the U.S. dollar would likely retain its position as an international reserve currency.

January 14, 2011:

RICHMOND, Va. (Dow Jones)–Federal Reserve Bank of Richmond President Jeffrey Lacker Friday said the U.S. dollar would likely retain its position as an international reserve currency.

“I’m fairly optimistic that we are going to retain a fairly strong position as an international reserve currency,” he said at a Risk Management Association event. “If that were to erode–if our share of the international reserve currency market were to erode–I don’t think it would cause any material problem for us.”

[paramount]

One or two scenarios will probably emerge:

1. There will be a world currency; countries will no longer be able to print their way out of economic problems at the expense of others. Every attempt will be made to make this world currency more stable than the dollar.

or…

2. Several world currencies will emerge; that may be happening right now.

Either way, the dollar at some point will no longer be the dominant reserve currency.

RICHMOND, Va. (Dow Jones)–Federal Reserve Bank of Richmond President Jeffrey Lacker Friday said the U.S. dollar would likely retain its position as an international reserve currency.

January 14, 2011:

RICHMOND, Va. (Dow Jones)–Federal Reserve Bank of Richmond President Jeffrey Lacker Friday said the U.S. dollar would likely retain its position as an international reserve currency.

“I’m fairly optimistic that we are going to retain a fairly strong position as an international reserve currency,” he said at a Risk Management Association event. “If that were to erode–if our share of the international reserve currency market were to erode–I don’t think it would cause any material problem for us.”

[Author]

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