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scam or not
Old 04-28-2015, 07:01 AM   #1
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scam or not

I was reading this article this morning and was wondering if it is some kind of scam or ripoff.

https://beap.gemini.yahoo.com/mbclk?...i6Bp0doY%26lp=

it's an article about the international monetary fund substituting another currency for the US dollar. and the effects it wil have on the dollar.
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Old 04-28-2015, 07:02 AM   #2
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A snippet or short description would help, thanks.

Edit - thanks.
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Old 04-28-2015, 07:43 AM   #3
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The link doesn't come across to me as a scam or ripoff, but that's not to say it's worth pursuing. It looks more like a self-serving and completely worthless forecast of something that may, or may not, happen in October, and how you absolutely, positively need to sign up with this company's advisory services to prepare yourself for the coming apocalypse. No thanks, I'll pass.
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Old 04-28-2015, 08:46 AM   #4
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I didn’t go to the link presented, but have read a number of articles to the effect that various nations, and the IMF, are essentially intent on removing the dollar as the global currency “standard”. If/when such happens, expect things for the US economy to progressively get… worrisome…

A particular concern would be if/when those who loan money to the US want those loan denominated in the “new” global currency, with each payment calculated at the dollar / global currency rate.

It obviously would mean the amount of dollar required to make each payment cannot be known with certainty until right before the payment is due, since the more dollars the US government creates, the less dollar is worth against a global currency.
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Old 04-28-2015, 09:15 AM   #5
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He is pushing his scare mongering newsletter.

This

Steve Sjuggerud’s “Safest Currency” and “Perfect Hedge” | Stock Gumshoe

has some details if you are interested.
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Old 04-28-2015, 11:31 AM   #6
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Quote:
Originally Posted by unno2002 View Post
I didn’t go to the link presented, but have read a number of articles to the effect that various nations, and the IMF, are essentially intent on removing the dollar as the global currency “standard”. If/when such happens, expect things for the US economy to progressively get… worrisome…

A particular concern would be if/when those who loan money to the US want those loan denominated in the “new” global currency, with each payment calculated at the dollar / global currency rate.

It obviously would mean the amount of dollar required to make each payment cannot be known with certainty until right before the payment is due, since the more dollars the US government creates, the less dollar is worth against a global currency.

The one good thing is that the US does not issue any debt in any other currency.... even if there was a 'global currency' I do not see the US issuing debt in that currency... they just do not have to do it....

Therefore, any payment due will be known for certain... no new problem is created...
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Old 04-28-2015, 11:46 AM   #7
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thanks for the answers, I was just wondering what it meant for the future.
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Old 04-28-2015, 12:34 PM   #8
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IMHO, throwing your money away based on scary stories is a poor way to protect it.
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Old 04-29-2015, 07:34 PM   #9
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While hardly a scam, it's possibly bovine faeces.
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