OBAMA MEETS THE SAUDIS You may not be aware of how life altering this is. Economic forces way beyond your control or the control of the clowns in our government may be on the brink of suffering major catastrophic consequences. I know the ADD of Facebook prevents me from elaborating, but heres the short version: Nixon cuts the dollar from gold made only possible by Saudi selling oil only in USA Dollars, USA is now free to print up money at will because it is the Reserve Currency. This relationship continues, but is now facing several straining factors: fracking may increase USA oil production, cutting out the Saudis, USA failure to bomb Syria and support the Saudi side pisses off the Saudis, USA overtures to Iran pisses off the Saudis. With the Saudis no longer in dominance in oil, and with their sworn enemies seeming to be courted by the USA..... and with the rise of China and its slow liberalization of the Yuan and increased gold reserves, the Saudis could drop the dollar and sell oil in any monetary unit, including exclusively or not, the Chinese Yuan. If the USA Dollar loses its ability to be the world exchange unit, i.e. the Reserve Currency, then all hell breaks loose. Countries start dumping their dollars and the printing of the money by the Fed is just more paper that the world no longer takes as universal exchange. Among the consequences are inflation, hyper-inflation (the worse scenario), currency collapse (no one takes your money and that includes your neighbor), your savings wiped out by government seizure (and that includes IRAs), and other possibilities. We have lived on borrowed money for a long time. I.O.U.S.A, an acclaimed documentary, expressed panic with the National Debt at 8.5 Trillion. Now it is double that.
Posted on: Sat, 29 Mar 2014 14:50:29 +0000
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