My guess is that your digital dollars will be allowed one for one to pay your mortgage since the banks screwed us all along with the fed, but if you go to withdraw and convert your existing digital dollars on deposit, you'll only be getting one blue dollar for every two digital dollars. Merchants might be given tax breaks who accept blue dollars initially, but eventually they'll be requiring more and more green dollars, until essentially it becomes too painful, and folks move completely into blue. Nothing like taking a 50 % haircut in short order. Unless of course you own gold or some other asset that will hold an appropriate constant. $2000 gold looks far better to the PTB than $4000 gold.
Your employer will of course continue to pay you in digital dollars and leave it up to you to make the conversion. It wont look so bad of course because you wont see your digital pay dollars decreasing at least, until you go to convert it.
So- do you want to be using green dollars or "blue" dollars ?
Started by
nimblebear
, Nov 09 2011 04:03 PM
3 replies to this topic
#1
nimblebear
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- Traders-Talk User
- 6,062 posts
Welcome to the Dark Side !
Posted 09 November 2011 - 04:03 PM
My guess is that it'll be taking two existing green dollars to "buy" the new US "blue dollar."
Then, will you be allowed to pay off your mortgage in green dollars, or will you need to use the "blue" dollars ? And will your 401k withdrawals be paid out in "blue" dollars ?
I think it'd be a good idea to temporarily convert as many greenbacks into gold as you possibly can stomach right now.
As when italy, spain, portugal start defaulting there ain't going to be enough dollars in circulation to bail them out, and benny will be printing at warp 10 megatron speed. the euro will be toast btw, which is why us dollars wont be spared from the brunt of this bailout.
On second thought, it might take 3 greenbacks to buy 1 new blue dollar.
My guess is that your digital dollars will be allowed one for one to pay your mortgage since the banks screwed us all along with the fed, but if you go to withdraw and convert your existing digital dollars on deposit, you'll only be getting one blue dollar for every two digital dollars. Merchants might be given tax breaks who accept blue dollars initially, but eventually they'll be requiring more and more green dollars, until essentially it becomes too painful, and folks move completely into blue. Nothing like taking a 50 % haircut in short order. Unless of course you own gold or some other asset that will hold an appropriate constant. $2000 gold looks far better to the PTB than $4000 gold.
Your employer will of course continue to pay you in digital dollars and leave it up to you to make the conversion. It wont look so bad of course because you wont see your digital pay dollars decreasing at least, until you go to convert it.
My guess is that your digital dollars will be allowed one for one to pay your mortgage since the banks screwed us all along with the fed, but if you go to withdraw and convert your existing digital dollars on deposit, you'll only be getting one blue dollar for every two digital dollars. Merchants might be given tax breaks who accept blue dollars initially, but eventually they'll be requiring more and more green dollars, until essentially it becomes too painful, and folks move completely into blue. Nothing like taking a 50 % haircut in short order. Unless of course you own gold or some other asset that will hold an appropriate constant. $2000 gold looks far better to the PTB than $4000 gold.
Your employer will of course continue to pay you in digital dollars and leave it up to you to make the conversion. It wont look so bad of course because you wont see your digital pay dollars decreasing at least, until you go to convert it.
OTIS.
#2
ronkw
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- Traders-Talk User
- 182 posts
Member
Posted 09 November 2011 - 08:59 PM
Yeah but,
we'll all be standing together, shoulder to shoulder in the rice fields.
#3
nimblebear
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- Traders-Talk User
- 6,062 posts
Welcome to the Dark Side !
Posted 09 November 2011 - 09:44 PM
Has the FED already prepped banks for the new US Blue dollar ?
http://www.youtube.c...layer_embedded#!
Interesting concept. Perhaps forestalls a lot of the traditional challenges with most hyper currency devaluations: bank runs, mass panic, wheelbarrows full of cash, merchants raising prices by the hour, .....
Creates some initial confusion, but then acceptance, and perhaps avoids immediate riots. Being that the average IQ is 99, many people might not be able to do the math quickly on it, and will feel ok about it as long as they can keep "living."
kind of a mass psyops effect.
http://www.youtube.c...layer_embedded#!
Interesting concept. Perhaps forestalls a lot of the traditional challenges with most hyper currency devaluations: bank runs, mass panic, wheelbarrows full of cash, merchants raising prices by the hour, .....
Creates some initial confusion, but then acceptance, and perhaps avoids immediate riots. Being that the average IQ is 99, many people might not be able to do the math quickly on it, and will feel ok about it as long as they can keep "living."
kind of a mass psyops effect.
OTIS.
#4
salsabob
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- Traders-Talk User
- 1,164 posts
Member
Posted 09 November 2011 - 09:49 PM
My guess is that it'll be taking two existing green dollars to "buy" the new US "blue dollar."
Then, will you be allowed to pay off your mortgage in green dollars, or will you need to use the "blue" dollars ? And will your 401k withdrawals be paid out in "blue" dollars ?
I think it'd be a good idea to temporarily convert as many greenbacks into gold as you possibly can stomach right now.
As when italy, spain, portugal start defaulting there ain't going to be enough dollars in circulation to bail them out, and benny will be printing at warp 10 megatron speed. the euro will be toast btw, which is why us dollars wont be spared from the brunt of this bailout.
On second thought, it might take 3 greenbacks to buy 1 new blue dollar.
My guess is that your digital dollars will be allowed one for one to pay your mortgage since the banks screwed us all along with the fed, but if you go to withdraw and convert your existing digital dollars on deposit, you'll only be getting one blue dollar for every two digital dollars. Merchants might be given tax breaks who accept blue dollars initially, but eventually they'll be requiring more and more green dollars, until essentially it becomes too painful, and folks move completely into blue. Nothing like taking a 50 % haircut in short order. Unless of course you own gold or some other asset that will hold an appropriate constant. $2000 gold looks far better to the PTB than $4000 gold.
Your employer will of course continue to pay you in digital dollars and leave it up to you to make the conversion. It wont look so bad of course because you wont see your digital pay dollars decreasing at least, until you go to convert it.
Care to hazard a guess when we'll turn that corner? With real interest rates below zero, people are paying the govt to hold their dollars safe right now. Sure like to know when your sea change is going to take place.
Current situation does makes gold a two'fer - its worth more dollars and those dollars are more valuable - do you really think that's about inflation?
Just be sure to pay your federal taxes in dollars. Try to pay in any thing else - gold, donkeys or brides - and you'll wind up in jail or the funny farm. Can you name any other asset with that kind of power?
John Galt shrugged, outsourced to Red China and opened a hedge fund for unregulated securitized credit derivatives.
If the world didn't suck, wouldn't we all just fly off?
If the world didn't suck, wouldn't we all just fly off?
