What if the dollar crashes? | Forex Factory

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What if the dollar crashes?

  • #1
  • First Post: Nov 7, 2010 10:47am Nov 7, 2010 10:47am
I wanted to ask the trading community here what your thoughts are on a possible scenario. There have been dire predictions about the dollar crashing; silver, gold and oil prices soaring; and possible demise of certain currencies. What would happen in a situation like this with regard to us traders? Would our accounts be worthless overnight? If not, would we not be able to withdraw any funds? If not, would we be able to withdraw limited amounts from our accounts? Just wondering.....
  • #2
  • Nov 7, 2010 11:43am Nov 7, 2010 11:43am
Did you spend at least 5 minutes thinking how would be possible for a major currency to dissapear overnight?
  • #3
  • Nov 7, 2010 12:45pm Nov 7, 2010 12:45pm
Takes just a push of a button and one of those nuclear suitcases. Too bad they never announce those moves - CNN would be right there to show the mushroom cloud live. I'm not saying it's probable, I'm saying it's possible.

Quoting Sauron
Did you spend at least 5 minutes thinking how would be possible for a major currency to dissapear overnight?
forget about tomorrow, just steal away into the night
  • #4
  • Edited 8:54am Nov 8, 2010 1:57am | Edited 8:54am
A big meteorite hits the Earth...
If some cataclismic event will happen, the only thing you'd do, if you're still alive and have chances to stay alive for more than a few weeks, is to search for a safe place. Paper money will lose its meaning, as nobody would trade food, clean water and shelter for it.
  • #5
  • Nov 8, 2010 2:05am Nov 8, 2010 2:05am
Quoting spekitox
Takes just a push of a button and one of those nuclear suitcases. Too bad they never announce those moves - CNN would be right there to show the mushroom cloud live. I'm not saying it's probable, I'm saying it's possible.
It's a legitimate response. For our accounts the be worthless overnight, we'd need some near mass extinction type of event. I'd be fighting (and most probably die) over remaining food and weapon stockpiles, not wondering about my balance.
  • #6
  • Nov 8, 2010 2:22am Nov 8, 2010 2:22am
Quoting Mr J
It's a legitimate response. For our accounts the be worthless overnight, we'd need some near mass extinction type of event. I'd be fighting (and most probably die) over remaining food and weapon stockpiles, not wondering about my balance.
wouldn't you even take time to move sl to be....?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #7
  • Nov 8, 2010 2:28am Nov 8, 2010 2:28am
Quoting The Fool
wouldn't you even take time to move sl to be....?
I would have spilled my tea if i were drinking one.
.
  • #8
  • Nov 8, 2010 2:39am Nov 8, 2010 2:39am
It is impossible that dollar would crash as other countries/ or other currency pairs never allow that as all other currency pairs lives if dollar lives, that is the reason that US blackmail other countries to hold dollar tight if they dont US says I will crash dollar myself there where other currencies will go ?
So forget that dollar will crash.
  • #9
  • Nov 10, 2010 4:06am Nov 10, 2010 4:06am
Interesting....

http://www.kingworldnews.com/kingwor..._Rickards.html

And, perfectly normal... nothing to worry about....

Inserted Video


Some of you might have forgotten about the 9/11, but I have vivid memories here in Los Angeles. Right after work I had to get some gas, so I drove over to the nearest gas station. The Customs Dept had taken possession of the station and wasn't allowing anyone in... I had to find another one to fill up. There were also unmarked warehouses all over the area that were being used by the Customs Dept. Huge black, unmarked with dark tinted windows, buses racing down the freeway. I honestly thought WWIII had started.
  • #10
  • Nov 10, 2010 4:24am Nov 10, 2010 4:24am
It all boils down to one question - do you believe without the smallest shred of a doubt that anything is possible, even if it is not probable.

The old stock market speculator, Andre Kostolany put it this way - "anything is possible in the stock market, and so is the reverse".

No ifs, no buts. You believe it, or you don't.

I do.
forget about tomorrow, just steal away into the night
  • #11
  • Nov 10, 2010 4:46am Nov 10, 2010 4:46am
The real question is what will China do if the dollar crashes (or goes to big inflation)....
There will be some really pissed people over there....

They should buy dollar to have the same power for influencing exchange rates...
But you can read that they plan to lower their dependency on dollar...

If the biggest player in the world doesn't support dollar...
  • #12
  • Nov 10, 2010 5:48am Nov 10, 2010 5:48am
Quoting spekitox
It all boils down to one question - do you believe without the smallest shred of a doubt that anything is possible, even if it is not probable.

The old stock market speculator, Andre Kostolany put it this way - "anything is possible in the stock market, and so is the reverse".

No ifs, no buts. You believe it, or you don't.

I do.
the dinours would certainly confirm that if u ask them
  • #13
  • Nov 10, 2010 5:49am Nov 10, 2010 5:49am
Quoting Sauron
Did you spend at least 5 minutes thinking how would be possible for a major currency to dissapear overnight?
oooh oooh i know!!!

magic?
Congratulations ScalaFX for coming out of the closet!
  • #14
  • Nov 10, 2010 6:57am Nov 10, 2010 6:57am
Quoting nubcake
oooh oooh i know!!!

magic?
shhh, now everyone will now
  • #15
  • Nov 10, 2010 7:05am Nov 10, 2010 7:05am
Quoting Mr J
It's a legitimate response. For our accounts the be worthless overnight, we'd need some near mass extinction type of event. I'd be fighting (and most probably die) over remaining food and weapon stockpiles, not wondering about my balance.
i have a square of rainforest up in north Queensland with my name on it! there's a reason I watch man vs wild every week!!!!
  • #16
  • Last Post: Nov 10, 2010 7:30am Nov 10, 2010 7:30am
Quoting >Apocalypto<
i have a square of rainforest up in north Queensland with my name on it! there's a reason I watch man vs wild every week!!!!
I hope you have some weapons to protect it with, as nobody will care who's name is on it if all of the financial system goes down! We'll have anarchy all over the place.
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