Hugo Chavez just devalued his by 50% today.
http://www.reuters.com/article/idUSN096521320100109
US Currency will be devalued and reissued at 1/10th its current value. Salaries will be at 1/20th current issue.
http://www.youtube.com/watch?v=IHadp7GXSdk&feature=player_embedded
Isnt’ this how North Korea keeps its people starving and poor and more easily controlled?
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February 8th, 2010 at 7:22 am
nah
February 8th, 2010 at 7:22 am
i hate when people don’t take their meds
February 8th, 2010 at 7:22 am
s
February 8th, 2010 at 7:22 am
Well - that would be political suicide. Devaluing the dollar will definitely kill it as the reserve currency of the World. It will also decimate America’s credit rating. That means no country will loan to us, the Economy would come to a grinding halt, the Federal government will not be able to operate in the red, and it would usher in a new Depression.
On the plus side - we’d have very low inflation.
February 8th, 2010 at 7:22 am
You post this as fact and not your opinion Which in of it self makes you look silly
February 8th, 2010 at 7:22 am
It is the way he has planned to ruin and BANKRUPT AMERICA….and that is truth. DEMs won’t admit it..but then they want our money !
YEP…bozo’s agenda is to bring down AMERICA and he is doing it. And they think the economy is going to grow. WHAT IS THIS GOING TO DO TO OUR DEBT..we will end up owing MORE to compensate for it.
February 8th, 2010 at 7:22 am
Buy gold
February 8th, 2010 at 7:22 am
So because Hugo Chavez did it Obama is going to do it too? Venezuela is on the verge of war with Colombia are we preparing for battle also?
February 8th, 2010 at 7:22 am
.
Those acid flashbacks are a bltch, huh?
Tellingly, ma’am, I note that you include Reuters as a source for a much-reported fact, yet you cite YouTube as a source for a fantasy conspiracy.
Great work, genius!
.
.
February 8th, 2010 at 7:22 am
Show me a statement from anyone in the government that this is even being considered, and we’ll talk.
What a shock. Both people in that recording are shills for gold sellers.
February 8th, 2010 at 7:22 am
The only problem with this theory is that it shows a lack of understanding of modern economics.
Many lesser developed countries have a fixed currency exchange rate. That means that it is set at a given exchange rate against a major currency — typically the dollar. They devalue the currency when that exchange rate gets out of whack with what the currency is really worth.
Most industrialized countries have a floating currency exchange rate. That means that its value is determined on the open market by what people are willing to pay for it. Equally important, most of the industrialized countries use a currency issued by an independent central bank — in the case of the US, the Federal Reserve Board. Since the central bank is the one that controls the currency (not the executive branch of the government), it is simply impossible for the President or the Prime Minister to devalue the currency.
February 8th, 2010 at 7:22 am
You’re crazy. If it weren’t for democrats, there would be no minimum wage, and people would be making a dollar a day. Get help.
February 8th, 2010 at 7:22 am
We’ll cross that bridge when we get there.
In the meantime, you’re stupid.
February 8th, 2010 at 7:22 am
Contrary to the other comments,
Your opinion have validity
The Amero has been in the works for some time now.
http://www.youtube.com/watch?v=KMheiBvCjqU
This is a by product of the effort to create the NAU
http://www.youtube.com/watch?v=6Y30k3nkk54&feature=related
The U.N have been pushing for a global change, even though arrogant Americans won’t believe it.
http://www.youtube.com/watch?v=HEfiKuZhbeU
And Finally the math shows that their must be a correction in our devalued dollar.
http://www.youtube.com/watch?v=Q9_d4fm3MYM
But to answer your question. Absolutely nothing. Because what devaluation will do to main street is make everything non-American more expensive. That will spark a buy in the US and buy Local trends which will improve our American base consumer spending. So save up money, own land so you can grow food, buy cars that are easy to fix, get scooters as back ups and get ready for some wild economic times.
February 8th, 2010 at 7:22 am
It’s a persons right to be an idiot, but oBUMa is abusing the privilege.