Will our dollar fail, and what will happen if it does?

Tonight on the news, they said that the US dollar might fail soon. They also said to start buying extra food and supplies in case it does. I'm wondering, when will it fail, and if it does, what will happen to society? How do keep it from failing? I'm...

scared, it seems like the end is so close...

The price of gold is going up everyday...they are printing money at the same rate of a popular poster...Foreign governments don't really want to buy US dollars...I'd say that yeah...most of the ingredients are in the pot for hyper-inflation and devaluing of the dollar...

Hang on to your seats.

Keep in mind that Glenn Beck is a opinion show, not a news source...

CNN wouldn't say sh*t even if it had a mouthful...and neither would MSNBC.

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LIAR !!
I SAW THE NEWS
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trieng to scare everyone !!
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It was on Glenn Beck...
I'm not making it up. =P

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Don't buy into these rumors. Big greedy companies like Walmart, Kroger, and K-Marts are preying on you guys to buy into this shit, to boost their already inflated revenues, in their recession-proof markets.

Trust me, I am sure everyone who bought into this has already made a bunch of CEO's chuckle on their 300 million dollar yachts, while they snort cocaine off the @SS of some hooker they picked up on their boat trip to Thailand.

It's possible. Here's the deal. The US is overall massively in debt. This puts us at the mercy of our debtors. If they are willing to suffer huge losses, they can cause us massive economic pain by dumping our debt.

If they do that, it will indeed cause a US depression - hyperinflation combined with high unemployment, shrinking GDP, and a nuked stock marjet. But here's the good news. The US could buy back it's own debt at pennies on the dollar and relieve future generations from ever having to repay it. This action would set the stage for real prosperity driven recovery.

The bad news is, the government would instead do whatever is the most stupid action imaginable, and mire us in misery for decades to come.

Try listening to CNN not Fox. Fox is pure ultra conservative / scare everybody / hate the (present) government.

Our current debt is not insurmountable. Our debt compared to our GDP is less now than it was after WWII and we recovered from that debt nicely.

The main challenge is that we need a sustainable growth model. We are already past the point where we can just tighten our belt and pay it back; our economy needs to grow as well.

Much of our growth has come from the move from one breadwinner households to two, cutting wages, eliminating benefits, and either laying off employees and expecting those remaining to work harder or sending our jobs overseas. All of these things did greatly increase profits but they are unsustainable. You can't' squeeze blood from a rock.

Right now we are at the mercy of our debt holders. It is in their interest not to destroy our economy because they either would not be repaid or they would be repaid with nearly worthless dollars. It is in their interest to keep us afloat as they siphon off our wealth.

I agree with Fillet o spam. . . Huh? wow! that was weird. anyways, bimjob is a liberal. And CNN is for liberals. Just like conservatives like Fox commentators. there.

CNN liberal? Look at who they have provicing political commentary:

Ed Rollins,former White House political director for President Reagan and chairman of the National Republican Congressional Committee.

John Feehery,worked for Republicans in congress

Bill Bennett, Former Reagan Secretary of Education

And remember that right wingnut Glenn Beck was on CNN before Fox.

CNN does have some liberal commentators as well but they are hardly a liberal news outfit.

Currently MSNBC is the liberal network, FOX the conservative, while CNN is trying to steer the middle road.

It is a fiat dollar.

Fiat currency is disconnected from the GDP of a nation... meaning that the dollar production rate is independent of the production of a states production of commodities. Because of this independence... the manipulation of the dollar's production can affect the business cycle... influencing boons and busts. The ebb and flow of the business cycle is the direct result of inflation or deflation in the currency. Legitimate production rates are stifled during a deflationary period because raw materials become increasingly rare and expensive. During periods of inflation... the tendency with fiat money... wages lag behind the curve of cost as the loans distributing extra currency begins at the financier stage and ends with the settling of accounts. The entire timespan incurring price increases incrementally.

Fiat currencies fail. Ours will fail.

There is no good reason for a fiat currency. Perhaps reason is too hard to come by.