Originally Posted by phinsup' post='908918' date='Oct 1 2008, 09:08 AM

They just printed a TRILLION dollar bill.

Originally Posted by 1988RedT2' post='908920' date='Oct 1 2008, 09:14 AM

Whose face is on it? Dubya's?

Originally Posted by phinsup' post='908876' date='Sep 30 2008, 11:17 AM

That is correct, but the more important countries we buy from arent in the *******. the euro is in the *******, we buy very little from them. OPEC nations, most of them decoupled with a commodity backed dollar (considered to be due to export oil) these dollars are not collapsing, we buy a lot of oil. As I stated earlier, a period of deflation, then hyper-inflation. This will be when everything collapses, then countries start to fend for themselves, they start to look at fiat currencies as "risky", they will rebound much faster then us, they aren't even half as dependant on other nations goods as we are.... then the inflation starts.



The difference between this depression and the last will BE IMHO the last depression was a deflationary depression, this one will be an INflationary depression. We'll see who's right The difference is we don't make anything to deflate, we buy our goods on the open market, once we dillute our dollar to collapse you won't see our dollar holding up against the foreign currencies. The EU will collapse but recover much quicker because they produce in the Union, they could even nationalize their dollar if necessary, we cannot. We could, but there would be nothing to buy with it,.

Originally Posted by j9fd3s' post='908949' date='Oct 1 2008, 02:44 PM

thats kinda whst the EU is economically, they just nationalized all the currency's to the mark.... politically its just a way to get the french to do stuff....

Originally Posted by phinsup' post='908955' date='Oct 1 2008, 12:04 PM

In the long run it will be the best thing the EU nations ever did, they promote trade within the nations, they discourage trade with nations outside of the EU, the only thing they really need is a major oil producing nation to join the Union. Honestly I wouldnt be surprised to see that nation be Canada

Originally Posted by defprun' post='908989' date='Oct 1 2008, 10:16 PM

I'd be game for that!!! I'd be in the rest of europe until summertime!