Falling US dollar - will it collapse as Saudi Foreign Minister suggests ?

Question

Iran's Foreign Minister Manouchehr Mottaki said in a written proposal that a final declaration by OPEC leaders, who arrive here Saturday for a two-day summit, should express concern by member states over the fall of the US dollar.
Reacting to the request, Saudi Foreign Minister Prince Saud al-Faisal Saudi Arabia's foreign minister warned that mentioning the falling dollar could lead to the "collapse" of the US currency.
"There are media people outside waiting to catch this point and they will add to it (exaggerate) and we may find that the dollar collapses," he said.
Member states should express concern over "the continued depreciation of the US dollar" in the final declaration, Mottaki said.

http://ca.news.yahoo.com/s/afp/071116/world/oil_opec_summit_iran_saudi_dollar_1

Answer 1

The US dollar has already collapsed.
and there is not a thing we can do about it.
The Saudis, in fact, the entire Middle East are laughing their behinds off about us.
Stuck in the ME - flailing about, with no place to land. Forever beholden to China.
Gas prices on the rise which they will continue to do....

Answer 2

Yes. Already we are evedencing the loss because Indian exporters are the lose rs now. Countries which have exports which are to be paid in terms of US dollar get less money in their currency because of the collapse of US dollar. However, nobody can overemphasise the collapse of US Dollar because American economic system is based on a strong footing and this kind of collapses come and go. Definitely American economists by this time took some strong measures to contain the collapse. You can have another angle also for this collapse. This may be a deliberate one to discourage exports. Such decisions are not so easy but there is every possibility that this collapse may be an artificial one.

Answer 3

The dollar has been in slow collapse ever since Bush invaded Iraq for no reason, thus destroying our credibility around the world and ending our status as leader of the free world. Six years ago, for example, the Canadian dollar was worth about 60 cents; about a month ago it broke even with the American dollar and is continuing to rise; similar situation with the Euro and many other currencies.
As a result, foreign companies and governments are buying up increasing shares of American companies, banks, etc. . . . in other words, the U.S. is slowly being taken over by outside interests. In other words, Bush will go down in history as the President who brought down the United States!

Answer 4

The USA is 9 trillion dollars in debt and counting. Our currency is losing its value and countries that invest in our currency are starting to look at other currencies like the Euro to invest in.Its possible that even a rumour could set off a selling of US currency...in the same way a rumour can effect the value of a stock.For example if somebody heard that China was dumping large amounts of US currency on the market...this could start a panic. China holds a vast reserve of US currency( somewhere way over 1 trillion dollars) and if they where to dump this on the market it would set off a panic and everybody would try to unload US dollars and the value of the US dollar would collapse to god knows what.

Answer 5

Yes, if; we dont get off foriegn oil and cut off defense spending. No body realizes how dangerous the military industrial complex really is, and take into account the mass spending we have keeping our troops in Europe, Asia, the middle east and so-fourth, and how about all the funding for other countries that are our supposed "Allies" were eventually going to lose are power grip on war, which is of course a warnning that president Eisenhower warned us about.

Answer 6

EURO has 5 nations tied to it, i think 5, i might be wrong. so comparing those 5 to 1....fair?

we are 1 nation, and the thing is, most of our cash, is not inside the US, other nations have a stranglehold on US money, people travel, and the US dollar makes it back.

Answer 7

no. the world is not that stupid. we have the nukes. people look at pakistan and shudder, a nuclear nation falling apart. we have thousands of these things. bigger and "better" than all the rest. who would want a rogue nation as powerful as the us? we have plenty of oil right here. the worlds breadbasket we could hold off a seige situation for years. i think the freee nations would rally. not behind us, or for us, rather for their own self interests. but what do i know?

Answer 8

I hope not. However, i certainly could collapse. The "Euro" seems to be on top right now. Sad.