Are You Paid In Dollars?

[TheMysteriousMrTesla]

Whilst not strictly Thailand related many expats (myself included) are paid in Yankee Dollars, this is worth a read and comment.

http://www.telegraph.co.uk/finance/economi...the-dollar.html

[jackdanielsesq]

This is an old post - but having said that - what is your point?

BR>Jack

[Crossy]

This is an old post - but having said that - what is your point?

BR>Jack

Not that old surely, 20 June 2009 was only Saturday

I'm not sure exactly where Tesla is coming from but the article does make an interesting and somewhat disturbing read

[Spee]

Whilst not strictly Thailand related many expats (myself included) are paid in Yankee Dollars, this is worth a read and comment.

http://www.telegraph.co.uk/finance/economi...the-dollar.html

This information is far more important:

http://research.stlouisfed.org/fred2/series/AMBNS?cid=124

It started under Bush last year and continues with Obama this year. Most of this money is in circulation overseas. Unless or until the Treasury and Fed reduce the amount of money in circulation and re-establish control over the printing presses, massive inflation and devaluation of the dollar are inevitable. Bush was completely clueless to or complicit in these events when they started ramping up last year. Because he is continuing with the same policy, only on a much larger scale, Obama must be even more so.

What we have seen so far, and see today, pales in comparision to what the near term future holds. This will hold not only for US dollars, but also other international currencies that are either fixed to the dollar (e.g., Saudi Riyal or other ME currency) or closely linked to the dollar (e.g., Thai baht). As an American, I'm embarrassed that this seemingly intentional self-sabotaging of the dollar is being allowed to continue. I fear for the economic future of the next 2-4 years.

[jumnien]

Good news for us Americans living in Thailand. If the US dollar collapses we can sell our assets here in Thailand and use the funny money to buy up whole cities in the US! I wouldn't hold my breath.

[Maizefarmer]

I think the U$D hit 2.06 or 2.07 to Sterling - late last year.

With Uncle Sam rolling the presses the mint today, as he has been doing round the clock for the last few months, it won;t be too long before that sort of exchange rate comes back to haunt the Fed.

[LivinLOS]

Good news for us Americans living in Thailand. If the US dollar collapses we can sell our assets here in Thailand and use the funny money to buy up whole cities in the US! I wouldn't hold my breath.

Erm you do realize when a currency inflates its the nominal value that goes down right ??

[jackdanielsesq]

Were it not for the almighty Greenback, there would be no China ............ Japan, etc, etc, et al, either.

Dont even want to go down the Marshall Plan Hiway ....

BR>Jack

[MJP]

Were it not for the almighty Greenback, there would be no China ............ Japan, etc, etc, et al, either.

Dont even want to go down the Marshall Plan Hiway ....

BR>Jack

If there was no America there would not be a lot of (good) things. You lot take a real bashing but rarely ever get any credit for anything.

[jackdanielsesq]

My apologies if out of order - I can remember the article clearly - some wonk even mentioned paying taxes on 'stolen' T Bills - ludicrous of course. They might also have been counterfeit - the point being that it was a dumb move and I have no idea other than maybe Soros or Geithner who would negotiate them. Both being user-unfriendly.

It might even have been Sir George - he is pretty much on top of all of it here - could have been moved also.

BR>Jack

Not that old surely, 20 June 2009 was only Saturday

[Pierrot]

"America is the first empire to go from barbarity to decadence without going through civilization"

Oscar Wilde

R.I.P. America

Edited June 22, 2009 by Pierrot

[jackdanielsesq]

Aint that the truth!!!

BR>Jack

PS Here's the rub - we are all immigrants.

If there was no America there would not be a lot of (good) things. You lot take a real bashing but rarely ever get any credit for anything.

[MJP]

Aint that the truth!!!

BR>Jack

PS Here's the rub - we are all immigrants.

If there was no America there would not be a lot of (good) things. You lot take a real bashing but rarely ever get any credit for anything.

Most of my lot are yanks. LA. Uncle moved there in the 60's. R&D director at satellite firm.

Good people. Take a lot of sh1t.

[jumnien]

Good news for us Americans living in Thailand. If the US dollar collapses we can sell our assets here in Thailand and use the funny money to buy up whole cities in the US! I wouldn't hold my breath.

Erm you do realize when a currency inflates its the nominal value that goes down right ??

Please explain. I thought if I sell my 20 million baht home today and return to the US I can buy about a 600,000 USD house with it. If the dollar collapses to half its current value, I would then be able to buy a 1,200,000 USD house there. Educate me please. Isn't this a good thing for us Americans with substantial baht denominated assets?

Edited June 22, 2009 by jumnien

[ZZZ]

If the USD fall what would it fall against? All other countries and currencies are in one way or another tied to USD and their currencies would fall as well and if all currencies fall there will be no change in exchange rates.

Besides, all this billions of new money printed by the fed will merely replace the money everyone thought existed before the crisis started.

Yes, this money never really existed but the economy worked on the premises that it did exist. So in the end there is no new money.

Whats is being printed is just making the previous perception reality and the economy should fairly quickly get back to normal, hopefully with some regulation preventing the same thing from happening again.

[Indo-Siam]

Just take a look at the chart in this article http://online.wsj.com/article/SB124458888993599879.html - you don't see that sort of graph every day.

If this is correct (Laffer Associates must have it own agenda, and I cannot independently confirm the numbers), then the US dollar is headed in the direction of the Zimbabwe dollar - thanks to the empty suit running the show in the USA.

Indo-Siam

[MJP]

Just take a look at the chart in this article http://online.wsj.com/article/SB124458888993599879.html - you don't see that sort of graph every day.

If this is correct (Laffer Associates must have it own agenda, and I cannot independently confirm the numbers), then the US dollar is headed in the direction of the Zimbabwe dollar - thanks to the empty suit running the show in the USA.

Indo-Siam

Look up Marc Faber on YouTube regards US inflation and the USD. Peter Schiff too, but not quite so extreme as Marc.

[Spee]

Just take a look at the chart in this article http://online.wsj.com/article/SB124458888993599879.html - you don't see that sort of graph every day.

Nice one. That is the article I was actually looking for before making my post above.

If this is correct (Laffer Associates must have it own agenda, and I cannot independently confirm the numbers), then the US dollar is headed in the direction of the Zimbabwe dollar - thanks to the empty suit running the show in the USA.

One could arguably question Laffer's conclusions, but he is highly respected and has been very accurate in the past. One cannot argue the facts of the chart, which is publicly available information that isn't questioned (although not information broadcasted widely in the mainstream media). One cannot also argue the facts of history, which indicate that massive inflation is inevitable given the monetary policy of the last 12-18 months.

What the US needs to do now is take their medicine, accept the financial misdeeds of Bush, the Fed, the Congress and Obama, reduce the money supply back to normal levels, minimize the effects of inflation by keeping taxes and spending down, and work with economic partners around the world to stabilize the world economy. Unfortunately, I doubt that any of this is going to happen anytime soon, so the inevitable pain and harsh reality is yet to come.

For Thailand, being an agrarian and rural economy to a large degree, I hope the effects of inevitable US inflation won't inflict too much more damage whether directly or indirectly. The biggest concerns would seem to be cost of fuel and getting a fair price for goods at the market. The impact of higher prices for fuel and rice over the last couple of years has been felt in our local community.

[Jeffro008]

Just take a look at the chart in this article http://online.wsj.com/article/SB124458888993599879.html - you don't see that sort of graph every day.

If this is correct (Laffer Associates must have it own agenda, and I cannot independently confirm the numbers), then the US dollar is headed in the direction of the Zimbabwe dollar - thanks to the empty suit running the show in the USA.

Indo-Siam

why not delete the paper money and work backwards from there. curious how it would go.

[jackdanielsesq]

China alone holds +750B USD debt - they dont want the greenback going anywhere - neither do any of the 'other' whinge & whine countries - so it is all hogwash and hot air. Our economy is at least matured & diversified enough to sustain itself.

The ROW would hardly miss any lead painted toys or fanatic's oil - thats even before we closed our doors to their crappy quality autos & electronics imports - now thats real colonialism.

Strangely - those Wall St & Newport Beach wonks, who precipitated the 'end is nigh' scenario of last year, never warned us the it was coming - so why should we believe their dumb charts now?! They are the true harbingers of gloom & doom.

BR>Jack

[mogoso]

, which indicate that massive inflation is inevitable given the monetary policy of the last 12-18 months.

=========================================================

Lets see Mr. Hope and change has quadrupalled the national debt in 6 months, has plans to nationalize the health care system. he took a bad economy and turned it into a pile of excretment.

He did gain control over two auto manufacters, gave a portion of them to his union buddies and stiffed the people who had money invested.

==============================================================

What the US needs to do now is take their medicine, accept the financial misdeeds of Bush, the Fed, the Congress and Obama, reduce the money supply back to normal levels, minimize the effects of inflation by keeping taxes and spending down, and work with economic partners around the world to stabilize the world economy. Unfortunately, I doubt that any of this is going to happen anytime soon, so the inevitable pain and harsh reality is yet to come.

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Don't worry plans are in the works to raise taxes, add new taxes such as VAT, let the Bush era tax reductions expire and print more money, and further grow the national debt by a spending mad democrat congress, that has a incompetents named pelosi and reid lording over it. Why should we worry?

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

. The impact of higher prices for fuel and rice over the last couple of years has been felt in our local community.

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

MIL leases our rice paddies and higher rice prices has led to a better income for her. Ok sometimes theres a silver lining.

[thaihome]

Back to the subject of the thread, so a Edmund Conway decides to take an incident involving some two bit crooks with half assed forgeries of US Treasuries and make the jump that some how this caused the “the tension and paranoia surrounding the fate of the dollar hit a new high”. What a bunch of crap.

Whether you agree with the monetary policy or not, he was just using sensationalism journalism to make some connection to a couple of crooks in order to get people to read the article.

TH

[hhgz]

"Laffer Associates must have it own agenda..."

I'm appalled, but not too surprised, by the short-term memory exhibited by many TVers. Don't you remember the "Laffer Curve"? OK, now there's a rush to check Wiki...

[meom]

If the USD fall what would it fall against? All other countries and currencies are in one way or another tied to USD and their currencies would fall as well and if all currencies fall there will be no change in exchange rates.

Besides, all this billions of new money printed by the fed will merely replace the money everyone thought existed before the crisis started.

Yes, this money never really existed but the economy worked on the premises that it did exist. So in the end there is no new money.

Whats is being printed is just making the previous perception reality and the economy should fairly quickly get back to normal, hopefully with some regulation preventing the same thing from happening again.

Maybe you’re right...

“So far it looks like the fall in private borrowing is more than offsetting the rise in government borrowing and therefore, at least for the time being, financing the deficit isn’t a problem.”

More here http://www.globalresearch.ca/index.php?con...a&aid=14011

[MJP]

Gives the WSJ headlines from the corresponding day in 1930.

http://newsfrom1930.blogspot.com/

[Spee]

"Laffer Associates must have it own agenda..."

I'm appalled, but not too surprised, by the short-term memory exhibited by many TVers. Don't you remember the "Laffer Curve"? OK, now there's a rush to check Wiki...

And your point is ........ ?

[Spee]

If the USD fall what would it fall against? All other countries and currencies are in one way or another tied to USD and their currencies would fall as well and if all currencies fall there will be no change in exchange rates.

Besides, all this billions of new money printed by the fed will merely replace the money everyone thought existed before the crisis started.

Yes, this money never really existed but the economy worked on the premises that it did exist. So in the end there is no new money.

Whats is being printed is just making the previous perception reality and the economy should fairly quickly get back to normal, hopefully with some regulation preventing the same thing from happening again.

Maybe you’re right...

“So far it looks like the fall in private borrowing is more than offsetting the rise in government borrowing and therefore, at least for the time being, financing the deficit isn’t a problem.”

More here http://www.globalresearch.ca/index.php?con...a&aid=14011

Bernanke is a bold-faced liar. That is precisely what they are doing, as demonstrated by the Fed's own stats on money supply shown in earlier posts. Bernanke has also totally outstepped his bounds. It is not his job to finance the debt or make recommendations on tax policy. His job is to manage the money supply and in that role, he is obviously incompetent and making his decisions based solely on politics instead of sound fiscal policy.