Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

[In Between Man]

Will we wake up one morning to find out that the US dollar and possibly our dollar own worthless? If China pulls the plug it seems likely!

US Federal Government Grants EMINENT DOMAIN over US property. Full Article

28-Feb-09 10:46 am

FEDS GRANT EMINENT DOMAIN AS COLLATERAL TO CHINA FOR U.S. DEBTS

BEIJING, China -- Sources at the United States Embassy in Beijing China have just CONFIRMED that the United States of America has tendered to China a written agreement which grants to the People's Republic of China, an option to exercise Eminent Domain within the USA, as collateral for China's continued purchase of US Treasury Notes and existing US Currency reserves.

The written agreement was brought to Beijing by Secretary of State Hillary Clinton and was formalized and agreed-to during her recent trip to China.

This means that in the event the US Government defaults on its financial obligations to China, the Communist Government of China would be permitted to physically take -- inside the USA -- land, buildings, factories, perhaps even entire cities - to satisfy the financial obligations of the US government.

Put simply, the feds have now actually mortgaged the physical land and property of all citizens and businesses in the United States. They have given to a foreign power, their Constitutional power to "take" all of our property, as actual collateral for continued Chinese funding of US deficit spending and the continued carrying of US national debt.

YouTube - Citizens Against Government Waste 2010 Commercial

 

[Corduroy]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

Let's hope that by 2030 a speaker in a Chinese auditorium can laugh derisively at government takeover of private industry. If that comes to pass in the next 20 years, their wouldn't be much bite in this xenophobic nonsense.

 

[petros]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

IN 2030 you won't need a translator to understand the video.

Alley you are almost right. Go to XE XE - Universal Currency Converter and compare the US dollar to the RMB and then compare CDN dollar to the RMB and tell me there is a devaluation of the CDN dollar.

While at it compare the past 10 years of US to RMB and CDN to RMB.

You'll see a devaluation no doubt about it but it's not our dollar dieing.

 

[PoliticalNick]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

It already is worthless. Due to the fractional reserve banking method your money is actually created out of thin air and based on debt. Fractional reserve is a little too long an explanation for here so I will just talk about how it is debt not an asset.

Take a close look at any paper money, it says "this 'NOTE' is legal tender" for our american friends it says 'Federal Reserve NOTE'. Anyone who has studied economics or finance can tell you that a NOTE is a financial instrument of debt.

It represents the debt owed by the government to the Bank of Canada (Federal Reserve in the US), both are private banks not govt institutions as most believe. It all began back in the 20's & 30's when we changed from a gold based monetary system to FIAT currency. If you ever get the chance to see an old bill it will say either 'silver certificate' or 'gold certificate' and does not say 'note' because it had to be backed up by silver or gold in a vault somewhere.

The big problem is that when the govt borrows money from the central bank (say $1 billion) it can only print or otherwise create (a lot of money is electronic now) $1 billion but it owes the bank $1 billion plus interest. So if you gathered all the money available in Canada and went to pay off the central bank you could only ever pay the principal, not the interest. We are therfore forever in debt to the bank with no possible way to pay it off. It is a big Ponzi scheme with the world bank and IMF at the top.

This is just the basics but hopefully you kinda get the picture.

 

[petros]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

"Notes" are cheques which progressed to cash are one helluva lot lighter than coins. The paper represents coins which are the real money.

 

[PoliticalNick]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

A note can be any instument of debt. When we talk of mortgages or car loans for example we say the bank holds the 'note' on our house or car.

 

[Johnnny]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

i havent been able to find anything about this on cnn or ctv, or cbc.... Is this valid?

 

[PoliticalNick]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

i havent been able to find anything about this on cnn or ctv, or cbc.... Is this valid?

I could not tell you about the OP.

If you are asking about my statements study Fractional reserve banking and Fiat currency on the net.

 

[McRocket]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

'Will we wake up one morning to find out that the US dollar and possibly our dollar own worthless?'


America? Yes. They are (probably) deliberately devaluing the greenback. And once it loses it's world reserve currency status - it will really plunge in value if this insane money printing in the 'States does not stop, imo.

Canada is totally different as it is a huge net exporter of natural resources. The loonie should not plunge remotely as much as the greenback - just check the US/Canada exchange rate lately?

 

[Liberalman]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

What China doesn't understand is that United States Of America is that each state joined the union and can break away if the union does not exist.

 

[Bar Sinister]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

And the point of that would be...? The USA is China's biggest market. It relies on the US dollar being relatively strong so Americans can continue to buy Chinese products.

 

[Kreskin]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

That would be good news. All of the jobs would come back to North America.

 

[PoliticalNick]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

I don't think the US dollar has a chance. There was a summit meeting recently behind the back of the US between China, Japan, France, Germany, the major Arab states and OPEC where they discussed changing the official currency for oil away from the US dollar. If this happens the decline in value will be so drastic it will cause an unrecoverable situation.

 

[petros]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

Live rates at 2011.03.28 04:19:00 UTC
1.00 USD = 6.56280 CNY
Live rates at 2011.03.28 04:20:00 UTC
1.00 CAD = 6.69056 CNY

CDN Dollar is just fine.

 

[weaselwords]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

What China doesn't understand is that United States Of America is that each state joined the union and can break away if the union does not exist.

What happpened tha last time any states tried that tact? I'll answer my own question 1861-1865 Civil war or as the south likes to say The war of Nothern Agression.

 

[mentalfloss]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

I wonder why caps don't work for the first string... well, anyway.. I can't speak for the devaluation of the dollar, but I love the nonsense in that commercial..

IN THE YEAR 2030, CHINA BECOMES THE REAGAN ADMINISTRATION AND TAKES OVER THE WORLD

 

[petros]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

Live rates at 2011.03.28 04:19:00 UTC
1.00 USD = 6.56280 CNY
Live rates at 2011.03.28 04:20:00 UTC
1.00 CAD = 6.69056 CNY

CDN Dollar is just fine.

The difference a couple hours can make....

Live rates at 2011.03.28 13:30:00 UTC
1.00 CAD = 6.71710 CNY

Live rates at 2011.03.28 13:34:00 UTC
1.00 USD = 6.56208 CNY

Live rates at 2011.03.28 13:34:00 UTC 1.00 USD = 6.56208 CNY

 

[In Between Man]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

Wow! is all I can say.8O

March Madness: U.S. government spent than 8 times its monthly revenue:

The U.S. Treasury has released a final statement for the month of March that demonstrates that financial madness has gripped the federal government.

During the month, according to the Treasury, the federal government grossed $194 billion in tax revenue and paid out $65.898 billion in tax refunds (including $62.011 to individuals and $3.887 to businesses) thus netting $128.179 billion in tax revenue for March.

At the same time, the Treasury paid out a total of $1.1187 trillion. When the $65.898 billion in tax refunds is deducted from that, the Treasury paid a net of $1.0528 trillion in federal expenses for March.

That $1.0528 trillion in spending for March equaled 8.2 times the $128.179 in net federal tax revenue for the month.

Full article.

 

[Cliffy]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

Wow! is all I can say.8O

March Madness: U.S. government spent than 8 times its monthly revenue:

The U.S. Treasury has released a final statement for the month of March that demonstrates that financial madness has gripped the federal government.

During the month, according to the Treasury, the federal government grossed $194 billion in tax revenue and paid out $65.898 billion in tax refunds (including $62.011 to individuals and $3.887 to businesses) thus netting $128.179 billion in tax revenue for March.

At the same time, the Treasury paid out a total of $1.1187 trillion. When the $65.898 billion in tax refunds is deducted from that, the Treasury paid a net of $1.0528 trillion in federal expenses for March.

That $1.0528 trillion in spending for March equaled 8.2 times the $128.179 in net federal tax revenue for the month.

Full article.

A trillion of nothing is still nothing. Who is pulling this worthless paper out of thin air? The house of cards is long over due for a fall. We are not far behind.

 

[In Between Man]

Re: Are we on the verge of "Super Devaluation" of the US or Canadian Dollar?

A trillion of nothing is still nothing. Who is pulling this worthless paper out of thin air? The house of cards is long over due for a fall. We are not far behind.

And when that fall happens all hell will break loose! You just know people will panic!

Not me though...