Tired of hearing of this new resource standard

[hame55]

You know, I'm getting a little tired of hearing that the WORLD is going off fiat currency and heading to a gold/resource standard. Does anybody now how HUGE that would be? Psychologists call this "projection" = extending what you want to happen into a future scenario, even though it has VERY LITTLE chance of happening. Sure I'd like to see the Fed ended and gold backed currency. Who thinks this will really happen? The USA can't back their currency - the military is doing that job now. The Euro cannot - perhaps China can,and the oil states, maybe Canada, but that's about it. Most of the world runs their currency on faith (the same faith we exhibit as we wait for the dinar, by the way...think about it) Iraq will have to take advantage of FIAT currency and its special circumstances in order to raise the exchange rate to where we want it anyway, right?

I'd like to see hard any new stories that point to a world shift in currencies, as well as a multi-country RV (150?), Not just that the BRIC nations won't use dollars,but more than that... FIAT currency isn't going anywhere and that won't change in my lifetime, is the way I feel now. All these assumptions there will be this GLOBAL SHIFT seem to have no backing in reality.

[quadkidd1]

I really dont think you can apply logic to the financial community right now. There has been a shift in the way business has been done,corruption and the corporate greed factor. Take a look around and tell me that the status quo will continue as we know it. Open your eyes and mind to what is really going on globally and I don't see any logic to anything. People have gotten buried on their mortgages , lost fortunes on 401k's , stock market has been all over the board and anything but usual is about to happen now. It is truly time for a change or we are all in trouble.

Quad

[bopll]

I have doubts about no backing in reality. Have you ever considered debt. When ones interest on debt is more than they take in that is called bankruptcy. That is the direction we are headed with uncontrolled debt. Throughout history every fiat currency has failed. History always repeats itself. Whether it fails in your lifetime is any ones guess, but it will fail. And I believe sooner rather than later. Just look at our elected officials and it's easy to see why. Uncontrolled spending.

[elmstreet61]

IMO it will start with the collapse Of the EURO any week now....

They have nowhere to go but back to individual sovereignties, each with heir own currency. That's my prediction, based on them totally running out of other options for keeping the EURO going as a currency. The smarter folk in the UK saw this coming, so they clung onto their British Pound.

The entire EURO zone has just been downgraded from AAA rating to AA+ by S&P

They too have too much debt that they cannot come out from under by increasing taxes, or by printing more money.....

Food for thought...it starts with the Euro.....who's next???

[chilli24]

I really dont think you can apply logic to the financial community right now. There has been a shift in the way business has been done,corruption and the corporate greed factor. Take a look around and tell me that the status quo will continue as we know it. Open your eyes and mind to what is really going on globally and I don't see any logic to anything. People have gotten buried on their mortgages , lost fortunes on 401k's , stock market has been all over the board and anything but usual is about to happen now. It is truly time for a change or we are all in trouble.

Quad

Corruption & greed have been rampant in the American economy since day one, From Cattle Barons to Railroad Barons, From the Carnagies to Tamany Hall, Why should it change now.

[quadkidd1]

Corruption & greed have been rampant in the American economy since day one, From Cattle Barons to Railroad Barons, From the Carnagies to Tamany Hall, Why should it change now.

Agreed and my point exactly however I am also considering the global effects / demise of the financial instutions . Corruption will always be a part of any & or demise of the financial institutions . Corruption will always be a part of any equation, but now in history we are facing new challenges that will be dealt with in a different manner. Banks, corporate spending , governmental expenditures are all under the microscope now. Will that fix anything? Probably not but at least one thing is for certain things must and will change now. JMO

Quad

[chilli24]

One can only hope, de we regulate more or deregulate. I don't know the answer.