State of the U.S. economy - bleak

by watch the tower 26 Replies latest social current

  • ballistic
    Point #3 Bank Of America and Compass Bank managers (probably all other U.S. banks too) have been instructing their employees in the last few weeks on how to respond to customer demands in the event of a collapse of the U.S. economy -

    Point 3 is a complete crock... if you knew who I worked for, you would know why I say this authoritatively.

  • Soledad

    This is all crap.

  • ballistic

    Well, there is a lot happening in the economy right now, which I wouldn't mind having a sensible debate around. But when I got to the paragraph on Americans loosing their freedom - which has nothing to do with the economy, I realised the whole passage is just designed to carry someones paranoid conspiricy theories.

  • MegaDude
  • MegaDude
    Point 3 is a complete crock... if you knew who I worked for, you would know why I say this authoritatively

    Shhhhhhh! Don't tell Skyman. He'll accuse you of being a mean ol' bully. lol.

  • JH

    That's it !!!

    I'm changiny my money for gold.

  • Spectrum


    How does the oil/US dollar currency thing work?
    Why does it matter what currency you use to buy oil in?
    How does it help the US to buy the oil in dollars?

  • skyman

    I am glad Green Span is here to protect our money, people just don't understand how the money world really works. We have a world wide debt that is getting bigger and bigger. The US made an agreement that it would help the OPEC nations with what ever it needed to produce and sell their oil if they would only use the US dollar in payment for their Oil. That means a country that buys oil from an OPEC nation must do it with US funds. This in turn is the Gold of the past. The buying and selling of oil protects pushes the value of the US dollar up. We are no longer a export nation we are an import nation. A import nation bleeds to death fast so the US set up an ingenious way of setting the balance, this is the US dollar. Now the EURO is looking real sweet which will hurt the US economy dearly if OPEC starts allowing nation to buy with the EURO. This is what has kept the US economy from collapsing.

    Only few years ago if a nations went against the US we would stop selling to them products like wheat why because they had to have our products to survive(INBARGO). Now we have a world wide distribution market other nations can just buy their products like wheat form an other nation. We had the world at our disposal at one time, You get the picture we could hold the nations of the world in ransom to get what we wanted, a nation paid a heavy price if they did not do what we asked. So if we loose the power of the oil being sold in US dollars our economy will be hurt badly and the economists of the world think it will be a blow that would bankrupt the nation and the USA would collapse just like Russia did. Gold prices reflect how stable the dollar is. Gold is at a 24 year high which means our dollar is becoming weak.

    The timing of the the problems in Iran is just what the US needed, why because in March Iran is switching over to Euro for payment of Oil and if this happen you better switch all your money over to Euros as well.

  • ballistic

    Skyman - two flaws in your argument...

    No country in the world uses the gold standard anymore, check wikipedia if you want further info.

    Secondly Iran only holds 10% of the worlds oil reserves and the amount countries are allowed to export (market share) is dependent on the estimated total reserves they have.

  • Enigma One
    Enigma One

    Good lord Skyman, use spell check will you?

    I wasted 3 minutes of my life reading this tripe.....where do I apply for a refund of those minutes?

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