news Canadian News
Good Morning Guest | login or register
  • Home
    • Canadian News
    • Popular News
    • News Voting Log
    • News Images
  • Forums
    • Recent Topics Scroll
    •  
    • Politics Forums
    • Sports Forums
    • Regional Forums
  • Content
    • Achievements
    • Canadian Content
    • Famous Canadians
    • Famous Quotes
    • Jokes
    • Canadian Maps
  • Photos
    • Picture Gallery
    • Wallpapers
    • Recent Activity
  • About
    • About
    • Contact
    • Link to Us
    • Points
    • Statistics
  • Shop
  • Register
    • Gold Membership
  • Archive
    • Canadian TV
    • Canadian Webcams
    • Groups
    • Links
    • Top 10's
    • Reviews
    • CKA Radio
    • Video
    • Weather

The demise of the dollar

Canadian Content
20736news upnews down

The demise of the dollar


Business | 207337 hits | Oct 12 7:45 am | Posted by: Alta_redneck
18 Comment

In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading

Comments

  1. by avatar tritium
    Mon Oct 12, 2009 6:40 pm
    GREAT!! Personally, I think the US Dollar is over inflated and over used...

    You do know Saddam was about to do the same thing.
    It just happens, that the US attacked right before he implemented his plan..
    What a coincidence, eh? ;)

    Here is Glenn Beck's rant against the "Euro, Yen, Canadian Dollar, Britsh Pound, Swedish Crown and Swiss Franc.." Boo Hoo!! The Canadian Dollar a joke. WTF!!


  2. by avatar tritium
    Mon Oct 12, 2009 7:07 pm
    The Global Currency is already here in the form of SDR's.

    http://www.imf.org/external/np/fin/data/rms_five.aspx

  3. by avatar BartSimpson  Gold Member
    Mon Oct 12, 2009 7:12 pm
    The USA is 90% of Canada's trade so a collapse of the dollar means you folks can kiss off your economy. I agree the dollar is going down due to the horrific management of our debt, but from a Canadian point of view this is not going to be a good thing.

  4. by avatar leewgrant
    Mon Oct 12, 2009 7:24 pm
    "BartSimpson" said
    The USA is 90% of Canada's trade so a collapse of the dollar means you folks can kiss off your economy. I agree the dollar is going down due to the horrific management of our debt, but from a Canadian point of view this is not going to be a good thing.


    First of all there isn't going to be a "new Global Currency". It comes up whenever the US dollar starts to fall. But so long as the US remains the economic engine for the world which it is and it's going to remain for the foreseeable future the international unit of account with stay the greenback. At some point it will start to rise relative to other currencies and all this talk will stop.

    Yes, a low dollar is bad for us. Hard for the export sector.

  5. by avatar mikewood86
    Mon Oct 12, 2009 8:35 pm
    "leewgrant" said
    The USA is 90% of Canada's trade so a collapse of the dollar means you folks can kiss off your economy. I agree the dollar is going down due to the horrific management of our debt, but from a Canadian point of view this is not going to be a good thing.


    First of all there isn't going to be a "new Global Currency". It comes up whenever the US dollar starts to fall. But so long as the US remains the economic engine for the world which it is and it's going to remain for the foreseeable future the international unit of account with stay the greenback. At some point it will start to rise relative to other currencies and all this talk will stop.

    Did you read the article? Nobody is predicting the US will remain the (sole) economic engine of the world. China's economy is growing 10% per year for at least a decade, the US is under 2%. So if I did my math correctly, it will likely become a bigger economy than the States in that time span.

    China, Russia, France, Japan, Brazil, Saudi Arabia, Abu Dhabi, Kuwait and Qatar have all held talks about switching currencies, and all those economies together have over $20 trillion dollars in GDP. If their money is tied up in the American dollar, what happens to it when the dollar collapses?

    I tend to side with those countries economic outlook over yours. :wink:

    On the plus side, it's not like the States are going anywhere any time soon, they will remain an economic powerhouse, just maybe not in the top spot.

  6. by avatar OldChum
    Mon Oct 12, 2009 8:40 pm
    China is taking over slowly along with India and some other nations as the richest nations .

  7. by Canadian_Mind
    Mon Oct 12, 2009 9:10 pm
    America will always be a major economic engine, especially in the western world. It has the 3rd highest population on the planet, so it will likely never drop below 3rd spot worldwide behind only India and China.

    As such, long term, i don't think we in Canada will be too bad off. We will begin to diversify by supplying to China and India, as well as maintaining our base in the States.


    BTW - Good to see a quality program from Fox.

  8. by avatar Pseudonym
    Mon Oct 12, 2009 9:13 pm
    I would prefer the dollar crash sooner rather than later. The pressure just keeps building as we keep digging ourselves into more and more debt. I don't really see a practical alternative that would teach Congress that credit cards do actually have limits.

  9. by avatar Public_Domain
    Mon Oct 12, 2009 10:27 pm
    :|

  10. by avatar tritium
    Mon Oct 12, 2009 10:33 pm
    The dollar use to be based on Gold, I think OIL is now playing a big part in dictating the value of the currency.

    Canada's dollar is know as a Petro Dollar. Oil prices go up, so does the strength of the Canadian Dollar.

  11. by avatar BartSimpson  Gold Member
    Mon Oct 12, 2009 10:39 pm
    "Mr_Canada" said
    The USA is 90% of Canada's trade so a collapse of the dollar means you folks can kiss off your economy. I agree the dollar is going down due to the horrific management of our debt, but from a Canadian point of view this is not going to be a good thing.

    Got to love the first American response...

    "Sure, we're *ucked, but we're bringin' all you *uckers down with us! Bahahaha"

    No, just pointing out the fact that your economy is very dependent on ours. Sure, if you want to USA to sink then cheer all you want, I'm just pointing out that since you folks booked passage on the economic Titanic you may not want to be cheering for the .

  12. by avatar tritium
    Mon Oct 12, 2009 11:02 pm
    "BartSimpson" said
    No, just pointing out the fact that your economy is very dependent on ours. Sure, if you want to USA to sink then cheer all you want, I'm just pointing out that since you folks booked passage on the economic Titanic you may not want to be cheering for the .


    I don't think that is very accurate Bart.

    Canada can sell our resources to China and India who have strong and growing economies.

    Sure Canada may take an initial hit economically, but will recover far quicker and within months... not years.

    The U.S. economic problem was caused because of over extended credit to those who could not pay... so the fix was to get people to buy cars and get rebates, using credit. Hug, 6 months to a year I see those cars being repossessed and more economic problems for the US and the big 3 car companies.

  13. by avatar EyeBrock
    Mon Oct 12, 2009 11:09 pm
    Never write the yanks off. They were supposed to implode after Vietnam, the 1970's Oil crisis, the 1987 recession, the Gulf War, Iraq.....etc.

    They still have all the cash and most of the guns.

  14. by Anonymous
    Tue Oct 13, 2009 2:17 pm
    Economic powerhouse? have you guys been listening to American TV too long?
    USA doesnt produce or manufacture 1/3 of what it used to . it has a debt that in realistic terms could take over 150 years to pay off, and getting LARGER not smaller daily. when their currency is not worth anything, how are they going to be the powerhouse of anything other than being North Mexico.
    A valueless currency
    High unemployment
    uneducated public
    these things are already underway. the responsible thing for Canada to do is increase and strengthen trade ties to east Europe, and Asia . At least that way WHEN the US dollar fails we WILL feel a bump but it wont be a crash



view comments in forum
Page 1 2

You need to be a member of CKA and be logged into the site, to comment on news.

  • Login
  • Register (free)
 Share  Digg It Bookmark to del.icio.us Share on Facebook


Who voted on this?

  • tritium Mon Oct 12, 2009 10:32 am
  • rockindel1 Mon Oct 12, 2009 7:48 pm
Share on Facebook Submit page to Reddit
CKA About |  Legal |  Advertise |  Sitemap |  Contact   canadian mobile newsMobile

All logos and trademarks in this site are property of their respective owner.
The comments are property of their posters, all the rest © 2025 by Canadaka.net