The G-20 summit is coming up in less than a month. It will be held in St. Petersburg (no, not Florida) Russia. This I believe will be THE meeting where the world decides to abandon the dollar or at least set the wheels in motion. We, to put it bluntly have ticked the world off in so many different ways and for all intents and purposes were not really even invited to the meeting. No matter what, President Obama has refused to meet with Mr. Putin “because” of the Snowden affair. This is wrong on so many levels but most importantly will isolate the U.S. even further. The sad thing is that we have done this to ourselves. I think the best way to describe what I believe will happen is that the U.S. will be looking in from the outside while the rest of the world votes “on our fate.” Will a new currency, one that has some sort of tie to gold be announced? I think the odds are better than 50-50 that a “new currency” is at least mentioned. Even if a new currency is not announced, I believe the odds are better than 80% that “non dollar” settlement of oil and other commodities will be discussed. Earlier, Prime Minister Medvedev is said to have issued an alert to Russians all over the world to “get their money out” of U.S. and Western banks. Why? blog.milesfranklin/we-will-know-very-soon
Posted on: Sat, 10 Aug 2013 06:30:28 +0000
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