Are all the stories about the U.S dollar becoming worthless true or is that just some more propaganda?

Question

I know that 1 Euro is equal to $1.55 USD now. Our monetary system is supposed to be the strongest in the world. I just don’t understand what’s going on here. People keep saying that the dollar is loosing its value because of all the all the new money that the B.E.P. is printing but on the other side of the coin (No Pun intended) The B.E.P. is destroying millions of dollars of old currency each day.

I personally am not worried if the U.S dollar does actually become worthless because I’ll just start growing my own food and start living off the grid. I’m not a “Tree Hugger” but I’m not going to let it get me down and depressed so “Big Pharma” can sell more antidepressants. Call me crazy but I think we need to start bartering and trading like the settlers did when they first got off the Mayflower.

Answer 1

the dollar is already down.

trade is getting harder because are dollar is not worth the same in other countries.

spend your dollar while its worth 100cents!

Answer 2

For one thing, this question is improperly categorized. Please be sure to double check Yahoo's suggested category placement when asking questions in the future.

Now, as to your question...

The United States monetary system has never been the worlds strongest. Our economy has been exceptionally powerful in the past, but the British Pound Sterling has, since the dawning of our contemporary World Economy, always been the strongest currency. I have been watching for about two years now three other currencies in relation the the U.S. Dollar - the Canadian Dollar, the British Pound, and the Euro. I noticed a sharp decline the summer before last where the U.S. Dollar fell below the Canadian Dollar for the first time, but since it has risen just above equal and remained there steadily for about the last six months or year. So I don't think that the U.S. Dollar is doing too bad, it's just been a shock to many Americans who for so long believed themselves to be all-powerful in the Global Market. We simply must come to terms with the fact that we are not, and will probably never again be, the worlds most powerful economic power.

Answer 3

or we can move to canada, even their's is better

Answer 4

Its true --- the Australian $ is reaching parity this year - we only used to get 60 c for US $.  You guys are going to cop it big time until you get your dependence off oil for urban transport - and growing corn or sugar to fuel cars is equally dumb.

Answer 5

Since China holds the pink slip to the US, they pull the strings economically in the US.

We start getting out of line and they call in the debt and the US is financial history.

The Saudis also hold much of the US debt and they have been talking for the past five years of moving the oil economy to the Euro or something more stable than the dollar.

Again, they pull the strings in the US.

Answer 6

Actually $$ value is going down

Answer 7

Soon the dollar will be issued in popup Kleenex bozes

Answer 8

The dollars value is going down.  We are headed into another recession..................

Answer 9

then you would be a prime candidate for ^Permaculture

http://answers.yahoo.com/question/index;...

http://answers.yahoo.com/question/index;...

from http://byderule.multiply.com/journal/ite...

My green rant

http://byderule.multiply.com/journal/ite...

its all about independence from the infrastructures of civilization

There are even rumors ,that plastic (credit cards)will replace cash all together,as a prelude to the microchip

(browse mark of the beast)

And all our money will be locked inside electronics

should we be nuked or something.and have a national black out ,,nobody will have anything except what they grow in their gardens to stay alive



ha ha

so you got the right idea

Answer 10

Wow, I can't believe how much you guys are fear-mongering!

The US dollar index has been down before, it happens every time the economy fluctuates - which it always does.

Furthermore, the current value of the dollar is not the only factor on which to look at to assess the currency. In volume, for instance, the dollar is BY FAR the most traded currency. Also, the dollar is the world's prime reserve currency.

The US dollar is the king of the currency market, and has been since WWII, if i remember correctly.

The dollar is not headed towards wothlessness. Currencies and economies flucturate. Get used to it. And don't worry; historically, all recessions have proved high rises in life quality and economy welfare, in the aftermath.

BTW. a low dollar is actually also good for America - never before has so many europeans bought goods from americans and never before has so many europeans gone to US cities to shop. It's not all negative news.

Answer 11

It's not worthless, its just worth less internationally.

Plus with gas prices and food going up and people getting paid the same, somethings got to give.

Answer 12

The US$ is headed towards toilet paper status and has been for some time.

If you'd like a visual of this go here:

http://ava7.com/images/funny-toilet-pict...

Answer 13

I think you are very mistaken...The Euro is much more powerful than the dollar. It has always been that way.

.60 Euros is one dollar.

The government does not want to panic people nor do the news. So they will not say in what state we are. However, if they say we are okay, it means we are in recession. if they say we are in a recession, it means we are in a depression.

People nowadays do not know the difference of recession or depression. But just remeber we are heading down VERY fast.

Another thing to point out. Quite a few years back (I think it was nixon but I could be wrong) decided that the dollar does not need to be backed by gold, which is how many countries back their currency to have it stable. So our money has no backing at all except "faith".....The dollar is only being driven by the economy since. Once the economy slows, the dollar plummets. Just "faith" makes the dollar very sensitive to the economic trends.

So going back to your statement. The US currency has not been the strongest in the world and it is only worth the economy here.

I am just hoping our next president can find some solution to our ailing economy because Black Friday might be coming very soon.