The "new" currency

It appears many more people are selling all sorts of things to stay afloat these days. And new stores are opening to take these items and pay out cash. Common items: watches jewelry musical instruments comic books rv's snow mobiles atv's art collections (or they are taking out loans against their art if they can't bear to part with it) coins and of course gold Basically we are nearing a bartering situation which is the precursor to a major drop in the currency. The new currency is taking shape well before they issue a new currency, which will probably be by 2012. As the old currency will be dropping like a rock. So the new currency appears to be hard assets. Most people have more stuff than they do money. at some point consumers will FINALLY realize all this stuff they couldn't afford in the first place, really has no value to them other than to be sold for food and water. Prices of these barter items will then go down. In fact its already happening to major art collections. A recent painting trying to be auctioned off at Sootheby's was supposed to go for $47 million. It only received bids for a mere $27 million. So they halted the auction. So when its hitting the very high end of the elistist faction of our society, you know something very dire is on the horizon. This happened extensively in the prior depression.

nimble, I agree with you that the USD has a very good chance of going into crash mode here. How's the best way to play it? I already know about Rydex's 2X weak dollar fund RYWBX. Are there any leveraged ETF's available for shorting the dollar? U.F.O.

UDN is dollar bearish etf (UUP is bullish)

Thx. raleigh. U.F.O.

Pictures of the new currency that will supposedly replace the US dollar have appeared on the Russian Internet. The United States is reportedly working on the new currency, the amero, which will be common for the USA, Mexico and Canada. The unstable financial situation in the world, the collapsing oil prices and the growing foreign debt of the United States may eventually crush the US dollar as the world’s major currency. Needless to say that the US authorities reject the rumors and promise to keep the dollar afloat. The amero follows the model of the European Union and its euro.

One of the new stores in the Ballston Commons Mall in Arlington, Virginia is called Cash 4 Gold. The stores accepts jewelry, watches, coins, etc. The mall is at the Ballston metro station. The store is located in the food court at the basement level. There's a HUD foreclosure homes kiosk across from it.

http://www.ballston-...ting.cfm?FL=All

Edited by Data, 29 December 2008 - 09:46 AM.

It appears many more people are selling all sorts of things to stay afloat these days. And new stores are opening to take these items and pay out cash.

Common items:
watches
jewelry
musical instruments
comic books
rv's
snow mobiles
atv's
art collections (or they are taking out loans against their art if they can't bear to part with it)
coins
and of course gold

Basically we are nearing a bartering situation which is the precursor to a major drop in the currency.

The new currency is taking shape well before they issue a new currency, which will probably be by 2012. As the old currency will be dropping like a rock. So the new currency appears to be hard assets. Most people have more stuff than they do money. at some point consumers will FINALLY realize all this stuff they couldn't afford in the first place, really has no value to them other than to be sold for food and water. Prices of these barter items will then go down.

In fact its already happening to major art collections. A recent painting trying to be auctioned off at Sootheby's was supposed to go for $47 million. It only received bids for a mere $27 million. So they halted the auction. So when its hitting the very high end of the elistist faction of our society, you know something very dire is on the horizon. This happened extensively in the prior depression.

I think LT the dollar is in trouble unless the US macro environment dramatically changes. The problem is people can't get there hands on dollars and are selling stuff. Therefore, you have the situation flipped ST and IT.