The death of the d0llar has been predicted by a number of people now for quite some time. Trouble is, this isn’t the movies. Not everything happens is 90 minutes. We’ve forgotten that somehow.
The US maintains a very strong worldly position simply because it has managed to make the world use it’s dollar for Gold, oil, as a reserve currency and so on. And guess what? The stupid world agreed !
But the whole economic system is a fraud, and by its very nature is inflationary. More money has to keep on being produced to pay off the usurious aspect of it. It was only a matter of time until the whole thing blew up. That’s why in late November 2005, the US federal reserve (a privately owned bank which makes huge amounts of profits lending money to the US government) stopped publishing what is called M3 – a report of how many dollars are in circulation. Therefore they can continue to print more dollars to their hearts content and inflation is harder to assess. It is a bubble however; eventually that bubble will pop.
When this happens the US will try and relaunch a new currency in effect making its old rag the dollar worthless leaving people who hold dollars fraudulently impoverished. The Amero perhaps.
Suggested reading by Jerome R. Corsi, WorldNetDaily.com . Notice the Date Dec 2006, the spot on financial analysis given. Also notice the timeline Nov ’05 M3 publication abandoned. hidden monetary inflation, ‘awash’ with credit and then the credit crunch.
The small and medium fry in the US will experience a lot of pain if this happens (worsening pain!) but the outcome may well produce a monetary beast of greater savagery, however this is not certain. It is important therefore that the current dollar hegemony is broken so that it isn’t propped up on commodities such as gold or oil and doesn’t allow the US to have a financial strangle hold on the world.
Iran is leading the way with its purported oil trading market (oil bourse) which trades oil in non-dollar currencies. And just recently we have Argentina and Brazil do away with the dollar for bilateral trade. Hourray.
The drawn out demise of the dollar is continuing. It’s getting harder and harder to create new bubbles to encapsulate the old which maintains the appearance that everything is a-ok.
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