Is The Dollar Doomed?

[GreenMachine]

YouTube - Will the U.S. Dollar be around in 10 years?

Just watched this video I thought it was pretty shocking. What are your reactions to it?

 

[james.wired]

The dollar is doomed. The fact that all of our gold bullion was "taken" gives the dollar no REAL value. It used to say on the dollar something like you can exchange it for gold. Now it says it is legal tender. WTF does that make it worth? Basically, there is nothing backing our currency. It is worth nothing more than what we make it. It is literally just paper. I honestly thing that the USA will become on the same level as Latin America economically. I might not see it, but the next generation will.

There's a really great documentary about money and stuff called Zetgeist. It's free to watch and will blow you away: Zeitgeist - The Movie

 

[Trotter]

I honestly thing that the USA will become on the same level as Latin America economically.

It is well on it's way. There have been several attempts to have the penny dropped from circulation as it has no actual worth... and I would not miss it AT ALL.

However, I do not bother with all the theorists mumbo-jumbo. I have my own eyes and can see what happens... I don't need some yahoo with a hyperactive imagination/paranoia trying to get me to agree with him.

 

[james.wired]

It is well on it's way. There have been several attempts to have the penny dropped from circulation as it has no actual worth... and I would not miss it AT ALL.

However, I do not bother with all the theorists mumbo-jumbo. I have my own eyes and can see what happens... I don't need some yahoo with a hyperactive imagination/paranoia trying to get me to agree with him.

Lol Trots, it's not one of those in your face hyper conspiracy theorists types of documentaries. I am not a fan of those. This one just tries to bring attention factual information that most Americans don't know about.

 

[KSoD]

Lol Trots, it's not one of those in your face hyper conspiracy theorists types of documentaries. I am not a fan of those. This one just tries to bring attention factual information that most Americans don't know about.

You know what, the same can be said of the Loose Change Documentaries depending on your point of view of them. It is plain and simple someone's point of view on the subject. What they consider facts can easily be proven otherwise as well.

Now i have not watched it and frankly i wont watch it. The Penny needs to go away yes. But the fact is this, The Dollar, or US Currency has been around for over 200 years now. The fact is that as of right now the USA is still the worlds super power. Given those 2 facts, i would say that the currency used will still be around as long as we are a nation. I dont see the $ going away while the United States of America is still a country of its own. I do not see the USA Adopting the £, or any other currency for its people to use. It would be far more costly for us to do that. Those are facts.

Each person is going to view it how they want, they are going to get out of it what they want. Some people will say that it is true, some will say it is a joke. Take from it what you will but i have yet to see a nation in all of mankind's history, that of which involved currency as its form of bater, to drop that currency and go with another.

 

[Oreo]

Call me stupid, but the Dollar can't and won't be doomed.

I mean please, you are a vastly wealthy country, and the worlds super power (for now , China's creeping up behind you). Asif anyone is going to let your currency just fail.

 

[james.wired]

I don't think the dollar is going to up and disappear, that would make no sense. Maybe doomed was too strong of word haha. Let me replace that with "In really dip ****". Right now, yes, the USA is A world's super power...but my opinion is that we are going to be outdone, if we are not already, by China or England.

 

[Yami]

The fact is that as of right now the USA is still the worlds super power

What happened to China and the EU? Otherwise I agree with everything you said, I don't really see what would replace the dollar, in the incredibly unlikely chance (IMO) of it failing. But if it did, I imagine there would a new US currency to replace it, instead of adopting a preexisting one like the euro.

but my opinion is that we are going to be outdone, if we are not already, by China or England.

Definitely not England, or even the UK, but the EU, China, India and Russia (who are making a comeback) are going to be ahead soon economically (EU already is, $18 trillion GDP compared to the USA's $14 trillion).

 

[35g700]

Back in the great depression FDR took the US off the gold standard in hopes that inflation would help get the US out of the great depression and that is why the US is off the gold standard.

IMO the government should set up a new dollar and back it up by gold, people would be given the option to swap their current dollar for the new one on the gold standard.

BTW, has anyone seen a silver certificate? Their was a short time in history when the dollar was backed buy silver and it said you could trade it in for silver. Their still are some in circulation today and I think you can still trade them in for silver.

 

[Oreo]

I don't think the dollar is going to up and disappear, that would make no sense. Maybe doomed was too strong of word haha. Let me replace that with "In really dip ****". Right now, yes, the USA is A world's super power...but my opinion is that we are going to be outdone, if we are not already, by China or England.

England ? Really ?

England are like.. wayyyyyyyy less wealthy than the USA. The UK is also way way way less wealthy than the USA.

The UK is a great power, it forms part of the G8 (UK, USA, France, Germany, Japan, Canada, Italy and Russia) although russia is quite controversial, much of it's country is poor and has a very bad spread of wealth.

Within the next 20years the UK and Italy will likely be chucked off, and replaced by India and China.

China will almost certainly become a super power in the next 50years when it moves it's vast secondary sector to the wealthier tertiary and financial sector, Shanghai is what the whole of China will eventually be like.

But yeh.. the dollar is not doomed, the USA's prime position is however.

edit:

Yammy, Mak is correct. The USA is still the super power, there can only be one super power i beleive, the EU, UK and China etc are called Great powers to my beleif.