The death of the dollar is coming, and it will probably be China that pulls the trigger. What you are about to read is understood by only a very few. Right now, the U.S. dollar is the reserve currency of the planet. Most global trade is conducted in U.S. dollars, and almost all oil is sold for U.S. dollars. More than 60 percent of all global foreign exchange reserves are held in U.S. dollars, and far more U.S. dollars are actually used outside of the United States than inside of it. This has given the United States some tremendous economic advantages, and most Americans have no idea how much their current standard of living depends on the dollar remaining the reserve currency of the world. Unfortunately, thanks to reckless money printing by the Federal Reserve and the reckless accumulation of debt by the federal government, the status of the dollar as the reserve currency of the world is now in great jeopardy! But do you hear about any of this on the mainstream news? Of course not. They would rather focus on the latest celebrity scandal or at least distract everyone of us of what is really happening. Right now, the global moves more and more away from the U.S. dollar. Demands for U.S. dollars and U.S. debt will disintegrate and interest rates will go absolutely skyrocket. And if interest rates skyrocket that will throw the entire U.S. financial system into chaos. At the moment, there are about 441 trillion dollars worth of interest rate derivatives sitting out there. It is a financial time bomb unlike anything the world has ever seen before. There are four “too big to fail” banks in the United States that each have more than 40 trillion dollars worth of total exposure to derivatives. The largest chunk of those derivatives is made up of interest rate derivatives. In case you were wondering , those four banks are JPMorgan Chase, Citibank, Bank of America and Goldman Sachs. A huge upward surge in interest rates would absolutely devastate those banks and cause a financial crisis that would make 2008 look like a Sunday picnic. China holds more than a trillion dollars of U.S. government debt. The consequences for the U.S. economy will be absolutely catastrophic and every single American will feel the pain. The standard of living that all of us are enjoying today depends largely upon China. They can bring down the hammer at any moment and they know it. theeconomiccollapseblog/archives/how-china-can-cause-the-death-of-the-dollar-and-the-entire-u-s-financial-system ---------------------------------------- Why this news is so important for us here on Aruba?? Our currency is connected to the dollar as well. And most important is our Island had 70-80% American tourists. We already noticed they are spending much less. So what happens in America and with the dollar is very important to Aruba (and to the world)!! Hopefully more people will understand how this (criminal) system works and what is really going on, because its out of control and getting worse no matter what the mainstream media tells you!!
Posted on: Fri, 08 Nov 2013 16:13:25 +0000