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The only way it will be is if the dollar ceases to be the world's reserve currency. If that does occur, we've got bigger problems.
If the 70-yr cycles of previous reserve currencies prove true, then the US dollar's status is very much in danger as it has now been 71 years.
China, Russia and other countries have been public about wanting to move away from the dollar for international transactions (especially oil) and selling off their US treasury holdings. Their Central Banks have been acquiring and hoarding gold like crazy for just this event.
China even launched their gold-backed yuan just last month.
Saudi Arabia threatened to dump their US Treasury holdings if US govt released information about the their involvement in 9/11.
Some people even theorize that much of the US meddling in the Middle East (such as Iraq and Libya) and elsewhere was to protect the value of the "petrodollar", as both countries threatened to move to other currencies for oil transactions. Libya and Africa were actually entertaining a new currency backed by the gold standard for just purpose.
If the 70-yr cycles of previous reserve currencies prove true, then the US dollar's status is very much in danger as it has now been 71 years.
China, Russia and other countries have been public about wanting to move away from the dollar for international transactions (especially oil) and selling off their US treasury holdings. Their Central Banks have been acquiring and hoarding gold like crazy for just this event.
China even launched their gold-backed yuan just last month.
Saudi Arabia threatened to dump their US Treasury holdings if US govt released information about the their involvement in 9/11.
Some people even theorize that much of the US meddling in the Middle East (such as Iraq and Libya) and elsewhere was to protect the value of the "petrodollar", as both countries threatened to move to other currencies for oil transactions. Libya and Africa were actually entertaining a new currency backed by the gold standard for just purpose.
I would predict that in a generation the Yuan will have significant presence in the world. And the USD and USA will stay flush and fine with an ever expanding world economy.
If the 70-yr cycles of previous reserve currencies prove true, then the US dollar's status is very much in danger as it has now been 71 years.
China, Russia and other countries have been public about wanting to move away from the dollar for international transactions (especially oil) and selling off their US treasury holdings. Their Central Banks have been acquiring and hoarding gold like crazy for just this event.
China even launched their gold-backed yuan just last month.
Saudi Arabia threatened to dump their US Treasury holdings if US govt released information about the their involvement in 9/11.
Some people even theorize that much of the US meddling in the Middle East (such as Iraq and Libya) and elsewhere was to protect the value of the "petrodollar", as both countries threatened to move to other currencies for oil transactions. Libya and Africa were actually entertaining a new currency backed by the gold standard for just purpose.
You have been consistently bearish on USA. Why don't you vote with your feet. Go live in China and Russia. Problem solved.
Yes I'm storing canned goods in my bunker so I can be prepared for the steady 900 year decline coming around the corner.
The Great Depression is NOT over, lieqiang. We still have a long way to go to get through this. We've used all the money we can (and the tricks that go with it) to pretend that this isn't happening.
We are clearly in a depression. We have spent trillions of future Americans' money to try to cover up this fact. The real problem is that we have not addressed the real problem yet, which is debt. You can fuel an inflation in two ways: visible inflation (wage and price growth) or invisible inflation (debt growth) -- both of these fuels must be removed when the growth ends (as it always does)- and since 2001, when this cycle of growth ended, we have growth debt, not reduced it.
We must reduce total debt to GDP to about 130% -- this is the bottom -- from today's 370%. So, from 2001-2016 we have not DONE ANYTHING but a coverup of the depression, which has cost us trillions.
Our leaders -- and I am thiinking especially of the FED leaders -- should be arrested for this. They are not ignorant of the Business Cycle. They are attempting to avoid or deny this truth, for the sake of their own interests. And our ignorance serves their ends, in fact.
Oh sorry I thought we were still the declining Roman Empire.
If this is The Great Depression then damn all those history books sure did exaggerate the suffering! Brother... can you spare a Roku3? I can't wait to see how life will be when we escape this, I can only assume there will be money trees and lakes of fudge to swim in happily.
Quote:
Originally Posted by C2BP
Yes; still a long way to go.
I can't wait to be one of those people who is referenced as "grew up in the depression" so others feel pity at this terrible life I'm enduring and understand why I'm so miserly I buy the 5" smart phone.
Yes I'm storing canned goods in my bunker so I can be prepared for the steady 900 year decline coming around the corner.
All empires in history fade away.
To think that the US is somehow "exceptional" in that regard, is well...
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