Friday, October 9, 2009
The Truth on the Dollar Demise
CHINA Now Talking Louder
Beijing does not need to raise money abroad since it has $2 trillion (£1.26 trillion) in reserves. The sole purpose is to prepare the way for the emergence of the yuan as a full-fledged global currency.
"It's the tolling of the bell," said Michael Power from Investec Asset Management. "We are only beginning to grasp the enormity and historical significance of what has happened."
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Why Would Anyone Want To Hold Dollars?
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When officials and the authority figures the sheeple worship go out of their way to deny things you know they are true.
ReplyDeleteThey are feverishly working to dump the dollar after they have printed it to death. Not in nine years but in the next year or two.
I think the whole thing is going to come crashing down in under a year.
ReplyDeleteHerbalPagan speaks sense.
ReplyDeleteWebbots say dollar death October 25th, or thereabouts.
I think the video is slightly optimistic. Conversely the idea that Oct 25th or less then one year is to pessimistic.
ReplyDeleteThe reason I say this is because as the video states the world can't dump it all at once. If that were to happen it would be suicide for the countries who hold these dollars as well as the USA.
That being said 9 years is too optimistic. 9:04 is more on point but I would say 3-5 years for complete destruction and a new currency.
Like the Titanic it's going to take some time between the initial strike of the iceberg to the complete sinking.
3-5 years is my prediction.
I am predicting between today and 100 years from now, we will have another currency, but only becuase they will outlaw ink since it harms the ozone.
ReplyDeleteThe big question is for how long will China continue to support the dollar once it begins to tank seriously.My guess is they wont be left holding the baby, and will bail out sooner rather than later, precipitating a massive dollar sell off and death for the greenback.
ReplyDelete@9:04
ReplyDeleteAgreed! However, the question is how fast can they unwind without bringing down the whole house of cards.
There is a process to this people. I used to be the ultimate alarmist until I looked at history and realized that the inevitable destruction of any great civilization is incremental of which we are in the final stages.
However, even this will take a few years to happen. I am predicting the dollar to go through something similar to a reverse stock split once we have a new currency.
We will trade in our greenbacks for some other multinational currency at a ratio of some kind to strengthen the new currency.
However, at that point its all moot anyways because the US does not produce anything so even a new currency solves nothing.
Expect this to happen within the decade and watch as America slips to a 2nd World nation.
Oh! expect at the very least a large regional conflict between now and then too if not WW3.