And what IF US economy broke apart? What would happen to our bankrolls?

    • blackops888
      blackops888
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      Joined: 25.04.2010 Posts: 502
      Now this is an extremely complicated question. I have to say prior to anything else that I'm very ignorant about the rules and current processes involved in this kind of global economy analysis, but I can't avoid asking myself about that. Here is how the thing started. I was watching one of grummeler's coaching sessions when I noticed that he was playing tables in Euros....

      1. Question: (I asked myself, right when I noticed the currency detail) Why is he playing in Euros?
      2. Less than a second later came the answer... "Well, because he is German, obviously", I thought.
      3. Two seconds later a voice came on my head... "Yeah... at least he is not so worried about dollar fluctuations when converting to his currency, which is a strong one"
      4. Like ten seconds later I thought... "If shit happens in the US, he has a bankroll in Euros"
      5. And then... a fraction of a second later.... "And what the hell is gonna happen to whoever has a bankroll in US dollars???"

      So this was the mind process that made me ask the question! :s_biggrin:

      I live in Brazil, and here we have the Brazilian Reais (that you can translate as "Reals"). At this moment you can buy around 1.80 Reals with 1.00 US dollars, but these quotations just fluctuate way too much. I think in 2004 we could buy 1.00 US dollar with 1.00 Real, although there was a time in which you could buy like 3.50 Reals with 1.00 US dollar. That's just to illustrate the question.

      Now... I was thinking about those catastrophic scenarios we see in some newspapers and some books, in which they say that something worse than the 1929 crisis could happen in the coming years in the US and so on. As I said, I don't know much about these things. It's not my intention to place a discussion of whether this can happen or not, once this is completely off-topic for a poker forum, but the thing is... What IF (and only IF, without speculating whether current events point to this outcome or not) shit happened in the US economy and the value of dollar just dropped to the ground in relation to our local currencies?. In this scenario, at least to me and to many other Brazilians, things would get nasty whenever we wanted to use our earnings in poker to buy stuff in Brazil, for example, once the value of whatever we have made during so many months or years would fall too much. In extention to this, of course, I think that a similar situation could happen to players in other countries.

      So... just to summarize my point:
      1. What would happen to our US dollar bankrolls if a catastrophic economic event happened in the US and the US dollar value just dropped to the ground in relation to our local currencies?
      2. Converting our bankrolls to Euros or another currency could avoid or at least reduce a bit the impact of such thing?
      3. Is there a way of converting a US dollar bankroll to Euros? (just in case this helps... if it comes out as a useless action, just disconsider this question) :f_biggrin:

      Of course that in the case of such a complicated event, all the world is gonna be affected and changes in the prices of food, fuel, etc, etc, are gonna change, but let's just keep our discussion inside the poker bankroll question.

      If the shit hits the fan... what do we do? :s_confused:
  • 11 replies
    • FakeLunatic
      FakeLunatic
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      Joined: 22.08.2009 Posts: 91
      If that happens, I will deposit 10€ and play HU vs durrrr or Ivey :s_cool:
    • blackops888
      blackops888
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      Joined: 25.04.2010 Posts: 502
      Originally posted by FakeLunatic
      If that happens, I will deposit 10€ and play HU vs durrrr or Ivey :s_cool:
      Looooooooooooooool!!!
    • NightFrostaSS
      NightFrostaSS
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      Joined: 25.10.2008 Posts: 5,255
      9.11 WAS INSIDE JOB!!!!!!!!
    • Lizocain
      Lizocain
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      Joined: 03.06.2009 Posts: 173
      it was an inside job indeed

      blackops888 don't worry about that, USA is built on a big lie for more then 100 years, if the dollar will be removed, or it will fail, say it as you want, a big war gonna come, that will delete USA as it is now, so the maximum you can do watch some TV and if you hear a WW3 coming, withdraw and get ur money exchanged..although, the Euro is in a worse shape, since here in Europe, they couldn't make a whole generation/system based on a big fucking lie, the chances the euro gonna be dismissed, is bigger then for the dollar..btw its hilarious, the US economy is broke apart for over 50years:) ) its a nicely executed lie..for general knowledge, watch zeitgeist - the movie, and addendum. you can find on youtube, isohunt, piratebay, whereever you want. it will make you understand alot of things about the usa, which as a brazilian you should know, who and why they make ur life worse and worse..im not a hater, just these are the facts.
    • taavi1337
      taavi1337
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      Joined: 29.05.2009 Posts: 2,920
      Originally posted by NightFrostaSS
      9.11 WAS INSIDE JOB!!!!!!!!
      I thought Jews came from Israel
    • blackops888
      blackops888
      Bronze
      Joined: 25.04.2010 Posts: 502
      Originally posted by Lizocain
      it was an inside job indeed

      blackops888 don't worry about that, USA is built on a big lie for more then 100 years, if the dollar will be removed, or it will fail, say it as you want, a big war gonna come, that will delete USA as it is now, so the maximum you can do watch some TV and if you hear a WW3 coming, withdraw and get ur money exchanged..although, the Euro is in a worse shape, since here in Europe, they couldn't make a whole generation/system based on a big fucking lie, the chances the euro gonna be dismissed, is bigger then for the dollar..btw its hilarious, the US economy is broke apart for over 50years:) ) its a nicely executed lie..for general knowledge, watch zeitgeist - the movie, and addendum. you can find on youtube, isohunt, piratebay, whereever you want. it will make you understand alot of things about the usa, which as a brazilian you should know, who and why they make ur life worse and worse..im not a hater, just these are the facts.
      Yeah... I know this stuff. I have watched both zeitgeits.
    • conall88
      conall88
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      Joined: 02.01.2009 Posts: 1,715
      fort knox holds gold for a reason...
    • delete461
      delete461
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      Joined: 04.07.2008 Posts: 1,036
      Originally posted by conall88
      fort knox holds gold for a reason...
      Gold is the ultimate bubble right now, its going to burst big time.

      Dont worry too much about the US dollar, it isnt going to collapse and if it did, speculators would push it right back up very quickly. The US dollar and the US economy are two different things.
    • delete461
      delete461
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      Joined: 04.07.2008 Posts: 1,036
      And if you want to learn anything about economics, DONT watch zeitgeist. lol
    • gadget51
      gadget51
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      Joined: 23.06.2008 Posts: 5,622
      My br wouldn't change a bit as the black hole called; 'She Who Must Be Obeyed' anihilates it out of existence quicker than the NHS. :(
    • conall88
      conall88
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      Joined: 02.01.2009 Posts: 1,715
      Originally posted by delete461
      Originally posted by conall88
      fort knox holds gold for a reason...
      Gold is the ultimate bubble right now, its going to burst big time.

      Dont worry too much about the US dollar, it isnt going to collapse and if it did, speculators would push it right back up very quickly. The US dollar and the US economy are two different things.
      I doubt it. considering the finite supply, the high cost of excavation, and the money lost through recycling costs for said schemes/companies. It may certainly drop a minor amount inf value and level for a year or so, but its pretty reliable if you ask me, until the day comes that platinum finally takes precedent in actual value ( not necessarily monetary).