What Will Our Friends The Americans Do -

[rabcbroon]

So basically - America is bankrupt and depends on other nations buying their debt to survive.

For many years now......

They are burning up their charge cards & as long as the merchants/buyers of debt continue to buy....Then I guess the game continues. I agree with you the USD is in serious trouble but my guesstimate will put it in the 60's next year. After that who knows & as always it depends on the servicing of the debt.

60s to what - the baht?

[flying]

60s to what - the baht?

hahah noooooooooo

The dollar index low 60's next year

[SeanMoran]

International tourism to Las Vegas stands to benefit.

to win what

ould

Yes. Much more affordable for the international big-spenders, win or lose; it still means less for the customer and consequently more for the casino, et al. Tourism should become a booming industry as the USD drops to closer to the pre-1997 ratio with the THB. What they call a 'win-win' situation, even at the casinos.

[TallForeigner]

I tend to believe the $-collapse predictions more than I believe those guys talking about a strengthening $. Well, I'm not American - I'm Swiss.

I am based in Bangkok and I get my money from working on international consulting contracts for pharmaceutical companies. Since many years already I avoid being paid in US$ and always try to negotiate my contracts in Euros or Swiss Francs. If I can't avoid being paid in US$ I immediately have them converted and deposited in my Euro foreign deposit account in Bangkok. Considering the moves of US$, Euros and Baht I'm quite happy with it. US$ earned a few years ago and converted into Euros immediately are now worth much more than if I would have kept them in a US$ account. I also shifted my savings from cash to stocks to funds and since a couple of years mostly into gold. I feel well prepared if there might come up some sort of collapse of the US$.

[richm7]

I reckon that rabcbroon must be worth a small fortune. After all, he's just tripled his investment in gold (nice one rab - how much did you invest? A stack I'd venture from your cocksure confidence in yourself - or at least your "sources") and is about to make an absolute killing on currency speculation. We all know where to go to borrow a few bob (bucks) now, don't we?

As for me, I'm going to be fat and happy flogging my car here and buying a mansion in the US; I'll probably pick up Microsoft out of the proceeds of my property here. Bill Gates is history.

Sadly for us all, that's not how it works, as is illustrated by the Zimbabwe pictures posted. If anyone believes that the western currencies are in for that kind of meltdown, I have a bridge or two for sale. The GG bridge will be very cheap by then - oh b*gger it, just buy the whole of SFO!

The comment about printing currencies is also misleading. The Chinese are no more immune than the rest of the world from the effects of just printing money. And, if it works as suggested in the US (and Europe) then I have a business proposition; let's set up a printing works and lend the money to the respective Western Governments; we'll make a mega fortune; sod Microsoft, we'll own the US! Let's call ourselves the "Western and Northern Kurrency Expat Reserves Society (WAN*ERS). Again, sadly, that just isn't how it works.

There is a saying here in Thailand "mi samong, mai dai kit" - literally "have brain, cannot think". That applies to many of the posters here.

[rabcbroon]

I reckon that rabcbroon must be worth a small fortune. After all, he's just tripled his investment in gold (nice one rab - how much did you invest? A stack I'd venture from your cocksure confidence in yourself - or at least your "sources") and is about to make an absolute killing on currency speculation. We all know where to go to borrow a few bob (bucks) now, don't we?

As for me, I'm going to be fat and happy flogging my car here and buying a mansion in the US; I'll probably pick up Microsoft out of the proceeds of my property here. Bill Gates is history.

Sadly for us all, that's not how it works, as is illustrated by the Zimbabwe pictures posted. If anyone believes that the western currencies are in for that kind of meltdown, I have a bridge or two for sale. The GG bridge will be very cheap by then - oh b*gger it, just buy the whole of SFO!

The comment about printing currencies is also misleading. The Chinese are no more immune than the rest of the world from the effects of just printing money. And, if it works as suggested in the US (and Europe) then I have a business proposition; let's set up a printing works and lend the money to the respective Western Governments; we'll make a mega fortune; sod Microsoft, we'll own the US! Let's call ourselves the "Western and Northern Kurrency Expat Reserves Society (WAN*ERS). Again, sadly, that just isn't how it works.

There is a saying here in Thailand "mi samong, mai dai kit" - literally "have brain, cannot think". That applies to many of the posters here.

Well personally, i hope to god that the US dollar does not melt down otherewise we're all in trouble, However, as i said some very noteable people - including an ex assistant to the treasury - see the collapse as imminent.

Re. the printing of money by the FED (nothing to do with federal government) then you may want to look further and see who owns the enterprize.

Just had a hunch about gold - just got a hunch about the dollar

PS i made my small fortune in Thailand. The formula is fool proof!!!!

Edited November 24, 2009 by rabcbroon

[flying]

I

Sadly for us all, that's not how it works, as is illustrated by the Zimbabwe pictures posted. If anyone believes that the western currencies are in for that kind of meltdown, I have a bridge or two for sale.

The comment about printing currencies is also misleading.

There is a saying here in Thailand "mi samong, mai dai kit" - literally "have brain, cannot think". That applies to many of the posters here.

Since I posted the pictures I will respond...I did not imply that the US is following Zimbabwe.

I did imply that when a currency faults it takes much more of it to achieve previous results.

As for the printing yes there are various countries but when you are the worlds reserve currency you get certain benefits that others do not.

As for you final comment regarding brains without thought yes of course....But, There are also those with eyes that beg you to not turn on the lights as they do not want to see.

[sorensen]

PS i made my small fortune in Thailand. The formula is fool proof!!!!

You started out with a big fortune, bought a bar and soon you had a small fortune.....

[anothertorres]

as an American, i will probably resort to stealing and drug dealing. i'll probably kill a man just to watch him die and then who knows... probably make a pot of coffee...

[richm7]

I

Sadly for us all, that's not how it works, as is illustrated by the Zimbabwe pictures posted. If anyone believes that the western currencies are in for that kind of meltdown, I have a bridge or two for sale.

The comment about printing currencies is also misleading.

There is a saying here in Thailand "mi samong, mai dai kit" - literally "have brain, cannot think". That applies to many of the posters here.

Since I posted the pictures I will respond...I did not imply that the US is following Zimbabwe.

I did imply that when a currency faults it takes much more of it to achieve previous results.

As for the printing yes there are various countries but when you are the worlds reserve currency you get certain benefits that others do not.

As for you final comment regarding brains without thought yes of course....But, There are also those with eyes that beg you to not turn on the lights as they do not want to see.

So is that a yes or a no on borrowing a few bob?

Can you explain the benefits the US gets when it comes to printing money?

[beechguy]

as an American, i will probably resort to stealing and drug dealing. i'll probably kill a man just to watch him die and then who knows... probably make a pot of coffee...

That's too much work, I'm just going to tell the wife she'll have to take that second job, after she makes the coffee.

[neverdie]

as an American, i will probably resort to stealing and drug dealing. i'll probably kill a man just to watch him die and then who knows... probably make a pot of coffee...

What, again?

[rabcbroon]

I

Sadly for us all, that's not how it works, as is illustrated by the Zimbabwe pictures posted. If anyone believes that the western currencies are in for that kind of meltdown, I have a bridge or two for sale.

The comment about printing currencies is also misleading.

There is a saying here in Thailand "mi samong, mai dai kit" - literally "have brain, cannot think". That applies to many of the posters here.

Since I posted the pictures I will respond...I did not imply that the US is following Zimbabwe.

I did imply that when a currency faults it takes much more of it to achieve previous results.

As for the printing yes there are various countries but when you are the worlds reserve currency you get certain benefits that others do not.

As for you final comment regarding brains without thought yes of course....But, There are also those with eyes that beg you to not turn on the lights as they do not want to see.

So is that a yes or a no on borrowing a few bob?

Can you explain the benefits the US gets when it comes to printing money?

Past benifits were that the Dollar was fully accepted as the world reserve currency backed up by future earnings of the Amercians - and thus interest could be charged on loans made to whomsoever at interest. However, America - in my view - is post industrial and the poor average American is so laden with debt with no real way of repaying. Therefor, simply people don't trust the paper anymore

For Americans to pay back the interest - never mind the principle - on money printed with their names on it, they have effectively become slaves. Hence the new Socialist/marxist regime currently installed to prepare the population for poverty like they never contemplated!

Edited November 24, 2009 by rabcbroon

[richm7]

I

Sadly for us all, that's not how it works, as is illustrated by the Zimbabwe pictures posted. If anyone believes that the western currencies are in for that kind of meltdown, I have a bridge or two for sale.

The comment about printing currencies is also misleading.

There is a saying here in Thailand "mi samong, mai dai kit" - literally "have brain, cannot think". That applies to many of the posters here.

Since I posted the pictures I will respond...I did not imply that the US is following Zimbabwe.

I did imply that when a currency faults it takes much more of it to achieve previous results.

As for the printing yes there are various countries but when you are the worlds reserve currency you get certain benefits that others do not.

As for you final comment regarding brains without thought yes of course....But, There are also those with eyes that beg you to not turn on the lights as they do not want to see.

Oh, I forgot. Sorry if I implied with my "brain" comment that you fell into that category; that was not my intent, I was referring to the comments to your post.

You are perfectly entitled to your opinions on any matter; brains don't enter into it. As a cynical old b*stard though I do like to treat unsubstantiated opinions and/or forecasts with skepticism, much as I suspect tips on horse races. Saying that the US dollar will crash because the US has debt up to it's eyeballs hardly substantiates the claim. Why such a debt should result in the calamity you predict would provoke a far more interesting discussion. Countries have been in dire straits before and have risen from the ashes, Japan and Germany immediately spring to mind, and the UK was not in great shape after WWII either, so debt is not necessarily a harbinger of doom. My death in the future is certain, everything else uncertain, including taxes if I play my cards right!

[rabcbroon]

as an American, i will probably resort to stealing and drug dealing. i'll probably kill a man just to watch him die and then who knows... probably make a pot of coffee...

coffee black, cigarette - start this day

[flying]

]

So is that a yes or a no on borrowing a few bob?

Can you explain the benefits the US gets when it comes to printing money?

I never offered a bob? I think your confused with another?

As for explanations you will need to study as it is not a small subject.

The fact that the USD is the worlds reserve currency & that Oil is pegged to it both have its benefits & implications.

You could look at Seigniorage to start.

http://gregor.us/oil/the-seigniorage-curse/

That is a small example but you can read much more in depth as you see fit.

Good Luck & My opinions are just my own. Please do not assume it is anything else & formulate yours as you see fit.

Edited November 24, 2009 by flying

[richm7]

I

Sadly for us all, that's not how it works, as is illustrated by the Zimbabwe pictures posted. If anyone believes that the western currencies are in for that kind of meltdown, I have a bridge or two for sale.

The comment about printing currencies is also misleading.

There is a saying here in Thailand "mi samong, mai dai kit" - literally "have brain, cannot think". That applies to many of the posters here.

Since I posted the pictures I will respond...I did not imply that the US is following Zimbabwe.

I did imply that when a currency faults it takes much more of it to achieve previous results.

As for the printing yes there are various countries but when you are the worlds reserve currency you get certain benefits that others do not.

As for you final comment regarding brains without thought yes of course....But, There are also those with eyes that beg you to not turn on the lights as they do not want to see.

So is that a yes or a no on borrowing a few bob?

Can you explain the benefits the US gets when it comes to printing money?

Past benifits were that the Dollar was fully accepted as the world reserve currency backed up by future earnings of the Amercians - and thus interest could be charged on loans made to whomsoever at interest. However, America - in my view - is post industrial and the poor average American is so laden with debt with no real way of repaying. Therefor, simply people don't trust the paper anymore

For Americans to pay back the interest - never mind the principle - on money printed with their names on it, they have effectively become slaves. Hence the new Socialist/marxist regime currently installed to prepare the population for poverty like they never contemplated!

Oh blimey, you're a "Obama is a socialist and socialism is the end of the world" merchant. That explains everything. Discussion over.

[rabcbroon]

I

Sadly for us all, that's not how it works, as is illustrated by the Zimbabwe pictures posted. If anyone believes that the western currencies are in for that kind of meltdown, I have a bridge or two for sale.

The comment about printing currencies is also misleading.

There is a saying here in Thailand "mi samong, mai dai kit" - literally "have brain, cannot think". That applies to many of the posters here.

Since I posted the pictures I will respond...I did not imply that the US is following Zimbabwe.

I did imply that when a currency faults it takes much more of it to achieve previous results.

As for the printing yes there are various countries but when you are the worlds reserve currency you get certain benefits that others do not.

As for you final comment regarding brains without thought yes of course....But, There are also those with eyes that beg you to not turn on the lights as they do not want to see.

Oh, I forgot. Sorry if I implied with my "brain" comment that you fell into that category; that was not my intent, I was referring to the comments to your post.

You are perfectly entitled to your opinions on any matter; brains don't enter into it. As a cynical old b*stard though I do like to treat unsubstantiated opinions and/or forecasts with skepticism, much as I suspect tips on horse races. Saying that the US dollar will crash because the US has debt up to it's eyeballs hardly substantiates the claim. Why such a debt should result in the calamity you predict would provoke a far more interesting discussion. Countries have been in dire straits before and have risen from the ashes, Japan and Germany immediately spring to mind, and the UK was not in great shape after WWII either, so debt is not necessarily a harbinger of doom. My death in the future is certain, everything else uncertain, including taxes if I play my cards right!

You are correct that countries do rise from the ashes. Yes they do rise fom the ashes

[bonobo]

This thread has really very little to do with Thailand. A few posters have tried to bring it back into being Thai-related, and for that reason, I will leave it open for now. But if it continues to be primarily a US-related thread, it will be closed.

[cdnvic]

*sigh* no need to turn Thaivisa into a third-rate cable news show. Despite Bonobo's patient pleas, it's simply going south.

Closed