Thirty days ago, I predicted the dollar's collapse within a month. I believe that time is now, as the dollar index has broken downwards from the bearish wedge it has been forming over the last six months:
Gold
As for gold, November 28 looms large as the first notice day for the December contract. If somebody is going to take delivery from the COMEX, that's when we'll know about it. Should enough investors call for delivery, it could create the mother of all short squeezes for gold.
Expect hyperinflation soon
There will be hyperinflation on par with that experienced by the Weimar Republic. Gas and food prices will jump up sharply to new highs and keep rising. Meanwhile, Consumer spending on anything outside food and energy will completely collapse, and most retailers will be forced into bankruptcy. Unemployment will soar, and there will be social unrest.
Last Stock Market Rally
Initially, the stock market could continue to rally higher as falling treasuries and rising oil are mistakenly interpreted as a positive sign. However, as the dollar's fall accelerates, everything but commodity related stocks (energy, mining, etc) will collapse.
Steps to take
Buy gold and other precious metals. Lock in fixed rates on all of your loans, especially your mortgage. If you have relatives/friends outside the country, consider a planning a vacation there should events turn ugly here.
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If you are a real American, stay here and FIGHT. Probably many in the US military will fight with you. All is not lost.
What do you think will happen in Canada? Will the Canadian dollar collapse too? How about moving to Canada? Thank you.
George in Canada--food prices have doubled--a loaf of bread is nearing $3. Property taxes are climbing. This whole mess is planned. Just like prior to any world wars,the government plans the econemy colapse.Unemployment high--what best ways to enlist fresh bodies to fight the bad Russians. Ask yourselves--why did zionist controlled Germany attack Russia twice? Now zionist controlled US/UK/Canada are at it again. No matter where you go--the countries are gearing up for WWIII.What can you do about it--get off your ass and kick butt--vermin in control. Jews have a hatred for Russians--most of the $trillions is diaappearing into Israel.Only one cure--hide your young from Uncle Samual
United Tits for Israel
You guys are overly paranoid. This may even be a depression, but it is global. The US will come out, maybe a decade down the road, but we will come out on top again. Not China or Russia. There are alot of paranoid people right now and I am investing money like crazy. I bet the headlines will read some day that we are well on our way to recovery and will talk about those that invested in this market. I will be retired.
Oh so you think this is just another cyclical downturn do you. You are in for a rude awakening. This is new territory.
Canadians will join the fight as all of this has been to intgrate the NAU. Been shopping lately? Beef, hamburger, produce is now being labeled above bar codes in Spanish and country of origin:
"USA/Canada/Mexico". I kid you not.
i don't see how anyone who as they say "prepares for the worse, but hopes for the best", could be deemed paranoid. to invest heavily in a volatile market, with a soon to be rapidly declining currency doesn't make much sense to me. remember your rate of return has to be higher than the rate of inflation for it to matter at all. let's also hope the us doesn't also go through a painful period of social unrest at the same time.
I think the best thing to do is find a way to move to a rural area, so that you can maybe grow your own food, and be self sufficient. After you do that, then think about buying gold, maybe open an fx account to short the dollar. Maybe invest in agriculture (Ticker:rja ETF looks nice). Oh, also run up a bunch of debt at a fixed rate, making sure you have enough money to cover the payments for some time, as you don't know how long the deflationary period will last, i assume it could last a year or two.
It's not gonna make you super duper rich, but I think you'll be better off than most, given what we assume will happen, actually will happen!
Yeah ... the dollar should have crashed on the 23th ... nothing happened.
You should do something else than false predictions.
There will be no hyperinflation - deflation is the cause.
Yeah but it's heaven for day traders right now. Wild upswings in price. I've been pulling in anywhere from 15-50% gains on daily trading. And yes, I put some of it in silver and will probably be increasing my position in silver in the next couple of days as the dollar continues it's decline. Every disaster is also an opportunity. Those that didn't panic and adjusted their financial strategies accordingly during the great depression profited handsomely during that time and came out of it wealthy.
Anon 7:10 has it about right. I'll just add that it is planned, the object being completing the heist of America using fiat money, $5Tr of it sitting in Fed Reserve member banks across the country, waiting to pounce on cheap assets made so through Fed caused recession/depression.
Private banksters will be the absolute owners of everything before you guys know it.
Bringing on incipient hyperdeflation is the antidote to incipient hyperinflation, the trick for Bernanke and Paulson is to counterbalance the raging dynamics inherent in each set of pressures, and thus prices will be surprisingly kept in check but at high unemployment until the transfer of America has taken place - to the `right` people.
"What do you think will happen in Canada? Will the Canadian dollar collapse too? How about moving to Canada? Thank you."
No, the Canadian dollar won't tank. Canada is a commodity economy, and should handle the dollar's collapse pretty well.
"You guys are overly paranoid. This may even be a depression, but it is global. The US will come out, maybe a decade down the road, but we will come out on top again. Not China or Russia. There are a lot of paranoid people right now and I am investing money like crazy. I bet the headlines will read some day that we are well on our way to recovery and will talk about those that invested in this market. I will be retired."
Sorry, you are wrong. The United states doesn't have a functioning economy. A normal economy has either:
1) Large commodity sector (oil, gas, gold mining, etc)
2) Large manufacturing sector
The US economy, like Iceland, is specialized in neither of these sectors: we are a net importer of commodities (oil) and manufactured goods (ie: stuff made in China). In order to afford all these foreign imports, the US has been selling debt to foreigners. Now deflation is destroying the value of that debt, and we have nothing to offer foreigners in exchange for the insane amount of oil we consume (50% of world's oil). The result is the dollar will crash.
"Yeah ... the dollar should have crashed on the 23th ... nothing happened."
When I predicted the dollar would collapse within a month, I always meant that the dollar would START collapsing. Currency collapses don't happen overnight, and for the US dollar to lose half its value will take at least a month or two.
"Those that didn't panic and adjusted their financial strategies accordingly during the great depression profited handsomely during that time and came out of it wealthy."
Those who panicked first and bought gold did best during the great depression (gold's purchasing power went up 17 times).
Before all is righted, neoCON blood will flow in the gutters.
What do you think now when is the time for US dollar to start collapse and UK pound and Canadian dollar will fall at the same rate or will resist and why.
thanks
AMERICA HAS SPIT IN THE FACE OF GOD.WE LET WOMEN AND DOCTORS AND MAN MURDER OVER 4000 BABIES A DAY IN THE USA.AMERICA HAS TOLD GOD TO GET OUT OF OUR COUNTRY AND OUR LIVES AND LEAVE US ALONE TO DO WHAT WE WANT TO.HE LISTENED.THE DOLLAR WILL COLLASPE-HIGH FOOD PRICES WILL START FAMINE AND THERE WILL BE WATER PROBLEMS SOON-VERY SOON.THE SUPER RICH ARE OUT TO DESTROY AMERICA AND BUY IT FOR NOTHING. IT WILL HAPPEN AND SOON.I BELEIVE THE DOLLAR WILL BE DEVALUED BY 50 PERCENT IN THE NEXT 3 MONTHS.YOU CANNOT PRINT AS MUCH MONEY AS THE US IS PRINTING AND NOTHING HAPPEN.ENOUGH SAID.THEENDTIMES
I've written a long article about the history and why the dollar is going to collapse, unfortunately too long for this comment box, if you're interested, take a look here: Collapse of the US Economy, Dollar & Stock Market, what’s next?
At Mr Anonymous asking about Canada, Canada, Mexico and the US will be merged into one super country called the North American Union with the official currency being the Amero, posted a video clip explaining the whole situation: Collapse of the US Dollar
What I'm interested in knowing, is what will happen to existing US debt, let's say you borrow x amount of dollars and buy gold with it, then suddenly the US dollar collapse and is worth nothing, what will happen to that loan? Will it be written off?
I am fourty two
live in the country in ontario canada
have my own pig and beef
chickens ducks eggs
etc
and a huge huge garden
I raised four children alone four fourteen years
I THINK THIS IS ALL FUNNY
you laugh and sneer at the poor
now its your turn AS A NATION
he who closes his ears to the cry of the poor will himself CRY OUT
and NOT BE HEARD JESUS WHO IS GOD
and people are to stupid to believe it.
if your a woman that wants to have a marriage
then write me
Integrity@cyg.net
Peter Shiff
Glen Beck
Gerald Celente
Max Keiser
they all know what they are talking about
look them up on youtube
Robert Hillman
ontario canada
The dollar collapse is part of God's judgement on America for abortion and homosexual marriage as well as a number of other things. God IS, currently judging America. He has been very merciful, though no repentence. We see low gas prices for now and the people are at ease. There is no recovery coming. Not to be pessimistic, but read the bible. This is not to say you are part of it. This is just the current situation. Cause and effect. Look at what happened after Obama signed the legislation to promote more abortion in the land. Mass murders almost weekly, and the swine flu all the sudden sprung up ? I would rent, take all the money out of the banks and stock market while it is worth something. Those are my thoughts. God bless you !
I'm not religious but the Bible does say "lend, expecting nothing in return" in Luke 6:35 and that's why the dollar is collapsing, not all that other stuff you just said. The collapse of the dollar/lending is a good thing for the world and will bring prosperity to the world.
God is not judging America. God judged Jesus and Jesus took all the wrath of God. He became the propitiation for our sins and that means he took all God's wrath. God is NOT Angry! Stop such foolish talk.
I'm new to this site, and saw that allot of paranoid people thought the dollar already collapsed 12 months ago to today and its the end of the world.
Well, here we are, my portfolio has increased by 56%. Feel sorry for those poor souls that read you and hid their money under the mattress.
Come on, we are Americans, we will survive these up & down!! Stop being crazy paranoid. .
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