What is Digg?266 Comments
- inactive, on 03/26/2008, -11/+67A bunch of stories like this have been coming out lately. This smells like doom for the dollar.
- gmyerz, on 03/26/2008, -13/+59See.....Ron Paul is was and is still right!
- americangoy, on 03/26/2008, -11/+56Yup,dollar is done and dusted.
Lets see what desperate deals are struck by the US govt. to keep oil traded in the dollar.
Because once oil starts to trade in euros, the dollar will start a nose dive into monopoly money... - JasonCox, on 03/26/2008, -9/+46BREAKING: Two countries figure out they have their own money and would prefer to use it in trades with each other.
- Look4Truth, on 03/26/2008, -10/+37It's just about time that this nation reaps all the crap it's allowed to happen over many years. The lemmings watching the idiot box will soon wake up and realize that what people have trying to warn them about is happening. God have mercy on this nation...we're gonna need a LOT of it.
- eltolete, on 03/26/2008, -8/+31Petraeus said Iran attacked the green zone today. Isn't this convenient timing?
Man, those Iranians know when to hit us. It's almost as if it were a double false-flag event.
As they say in Brazil, a festa acabou... the party is over. - RyanBlueThunder, on 03/26/2008, -1/+24It's funny reading that Americans need to "get fiscal policy in order" in the same paragraph as Argentina and Brazil. Argentina is a model for failed fiscal policies. Great county, beautiful women, but terrible economic policy there in Argentina.
- laserblazer, on 03/26/2008, -12/+33No economy could survive Nixon, Reagan, Bush and Bush.
- mokodo, on 03/26/2008, -5/+24I see that brazil and argentina are stronger now, doesnt mean that they are changing to euros guys, just that they are using THEIR own currencies. Please, stay focus on the news, the world is not US-dollar-centered...
- inactive, on 03/26/2008, -8/+25The first person to claim that this is just "Digg-style" doom and gloom gets a chocolate chip cookie. LOL The news is posted in black and white, and it isn't looking good.
- inactive, on 03/26/2008, -5/+22Looks like the use of the US monetary system as an international weapon was a serious miscalculation.
- synthpop, on 03/26/2008, -0/+15it just means that America will have to trade real things in exchange for other real things. turns out other countries are tired of swapping real goods for mountains of green paper. just one slight problem, the US has dismantled nearly all manufacturing, replacing the "American worker" with the "American consumer", so a bit of a problem there.
- kazamx, on 03/26/2008, -1/+15I think what people were really saying was as more people move away from the Dollar, the Dollar will continue its rapid fall. If you take a look, that has pretty much been true.
No there wont be a single event that destroys the Dollar, but all these little cuts will cause it massive problems. - dsmx, on 03/26/2008, -3/+15You can thank the WTO and the world bank for the current problems in argentina.
- scorchedearth, on 03/26/2008, -2/+14Unfortunately, the US economy is no longer the largest in the world according to a Reuters report.
http://www.reuters.com/article/idUSL14919719200803 ... - pgoetz, on 03/26/2008, -2/+13Keep in mind that the Chinese would vastly prefer a strong dollar ( a - they've got a lot of 'em; b - they can continue to export a lot of stuff to the US cheaply) so they have no interest in creating spin which further weakens the dollar.
- inactive, on 03/26/2008, -0/+11Don't forget the goddamned FED constantly printing money and rapidly devaluing the dollar even more. Hell, our own central bank is helping kill our currency...and 99% of the public doesn't even realize it.
- ka2err, on 03/26/2008, -1/+12> The EU is not a unified country.
It's a unified market - that's what's important. - scorchedearth, on 03/26/2008, -1/+11Thank the IMF and World Bank for that one.
- DreKor, on 03/26/2008, -5/+15Yeah, with sources like Xinhua, of course it looks bad. I'm not saying that the US economy isn't in trouble, but citing Chinese state-operated media is kind of sketchy.
- Niubai, on 03/26/2008, -0/+9Yep, my dad's farts, he lives in Sao Paulo. It destroys everything around when deployed.
- craighoxton, on 03/26/2008, -0/+9Ten years ago because of LatAM bond defaults, nobody wanted currency from Argentina or Brazil - they wanted the dollar. Today, it's the other way round. How long before oil is traded in euros?
- gernblansted, on 03/26/2008, -1/+9It means they were using a stronger currency, like the dollar.
What does it say about the dollar when other countries stop using the dollar in favor of their own weak money? - freedomwv, on 03/26/2008, -1/+9Well well well. All of us who have for several years been warning of what the Fed is doing to the value of the dollar are not looking so much like a bunch of wing-nuts anymore. By the way Ron Paul told you so!
- kazamx, on 03/26/2008, -0/+8quick, invade someone
- gernblansted, on 03/26/2008, -0/+7I believe Xinhua's international feed is like Voice of America. In order for these news sources to be effective, they have to be accurate about what they say virtually all the time, otherwise there's no need to waste money on them. Once it's established that they provide fact based news, then the power comes from which facts are left out, which stories are and aren't covered and when.
In this case, the facts are pretty clear. Severe neglect of the dollar is coming back to haunt the US. The US Economy needed urgent care years ago in order to stop the destruction which has only just begun, but instead it's been abused. Any hope that Bush will wake up and do something about it is belied by the fact that he just gave a speech indicating that the US economy is solid, and he continues to fight his war with debt. Don't look to congress, because their plan is clearly make no waves, do nothing.
Fiddle, anyone? - annamerikin, on 03/26/2008, -1/+9"The free ride for the US is soon to be over. Americans will have to get its fiscal policy in order soon, or they will suffer greatly."
This quotation does NOT appear in TFA. Where did this editorialization come from? Who is the ass who wrote this and where is his evidence? Was it the submitter him/herself?
Find an article that supports your reverse-chauvinism. Or write an article and get it published somewhere and let someone Digg you.
What you have done is intellectually dishonest, at the least. - creationism, on 03/26/2008, -6/+12Don't they have WMD there in Brazil?
- pgoetz, on 03/26/2008, -3/+9Hey, great idea: let's run an entire economy on selling diet coke to the masses.
- kazamx, on 03/26/2008, -1/+7While a few of his ideas seem a little nuts, the core belief that Government should keep the ***** out and leave the money in peoples pockets the right one.
- moonlessrat, on 03/26/2008, -0/+6I think people are looking at this as just 1 more in a multitude of recent symptoms that all is not well. Taken by itself this event is of no great consequence....but put into the bigger picture it's another splash of cold water in the face. Economically things don't look good for you guys...and as much as I hate to admit it a major US crash would have far reaching consequences for the rest of us.
- alittleroy101, on 03/26/2008, -0/+6***** Ron Paul.
..and down we go. - zebraz, on 03/26/2008, -0/+6If you do not know how fiscal policy works how do you know that others don't ?
- LokitheComplex, on 03/26/2008, -0/+5You can have all my Reichsmarks.
- consoneo, on 03/26/2008, -2/+7Check the Amero... that's their idea anyhow.
- Azerael, on 03/26/2008, -2/+7It's all those damn pinko liberals' fault goddarn it. Obviously we ain't sellin enough bumper stickers.
- phogasmic, on 03/26/2008, -1/+6What is with the extra ***** in the description? How is this the end of the US, I think it is a good thing for these countries to start using they're own currencies. Maybe I'm just naive but I think its good news.
- XanderDee, on 03/26/2008, -3/+8Qatar, Vietnam, India, and more You have to go to DC on June 21 and protest this. It can stop if interest rates are raised and not lowered to help the banks that are in trouble. Join the revolution to bring back the constitution.
- kazamx, on 03/26/2008, -0/+5That would be elipabst , a few posts up.
- synthpop, on 03/26/2008, -1/+6going down compared to what? not the dollar thats for sure. Euro in 2006: $1.20, Euro today: $1.57. if the Euro is going down then the Dollar is free falling. nearly every currency in the world has gone up compared to the dollar in the past couple of years so why keep trading in it?
- SexyInsurance, on 03/26/2008, -0/+5The falling dollar makes our federal debt smaller. Inflation in this country is getting ready to be 70's style bad. I'm not convinced that the dollar is dead. These things go in cycles and the dollar is at a low now but will be turned around when interest rates rise again. Oil will likely go to a basket of currencies eventually. . . but to make money, you must buy low and sell high. These countries moving away from the dollar are 'selling low'. In the meantime the US public had better get out of debt and start saving. Our government needs to stop spending more money than they bring in.
- inactive, on 03/26/2008, -1/+6So what difference does it make if it's on China's government news source?
- inactive, on 03/26/2008, -2/+7Is the story wrong?
- cuetzalcoatl, on 03/26/2008, -0/+5I see a lot of people saying that "Brazil and Argentina finally realized that they have their own currency".
You see, I don't know how high school teaches its kids about "International Economy" in America, but here in Brazil we have the obviousness for the reason why all other countries use Dollars, instead of their own currency in international trade: Dollar is the Standard (as in "Gold Standard") since Bretton Woods summit. - FairDinkumMate, on 03/26/2008, -0/+4Persia? You mean IRAN..... & here I was thinking Iran(Persia) was IN The Middle East...
- nirav72, on 03/26/2008, -0/+4The thing is - Xinhua is all state owned. So you can't really blame them for being a proganda machine.
- NelsonR, on 03/26/2008, -0/+4It will get worse. Bernanke and Greenspan have made the dollar worthless. Wall Streets outright control of monetary policy is destroying America. Our rich don't care since they are invested heavily in foreign currencies and stocks. Screw America is their mantra, it's the riches that matters.
- zephc, on 03/26/2008, -2/+6You mean Ross Perot and progressives have been saying it since the 1970s, that we will expand out federal government and deficit to out-of-control proportions?
- drmangrum, on 03/26/2008, -0/+4Why would they want that? Their currency is stronger than the US dollar.
- OrangeTide, on 03/26/2008, -0/+4Libertarian economics? so us some libertarian-inspired policies in US economics.
And the country has been sliding downhill loooong before Reagan. You must have missed the 70s somehow. Or you weren't alive in the 70s? (and are unable to read a book covering the economic trends in the US?) -
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