Economists point out, rightly so, that the US dollar is approaching—as do all fiat currencies—its true value, which is zero.
The gold standard was dropped by Britain in order to print sufficient money to fund WWI, and again by Nixon in the US to fund the invasion and occupation of Viet Nam, a manoeuver without enough support to permit raising taxes. Now the boy idiot in the WH is running down the US currency to fund his imperial ambitions.
While the best thing would be for the USD to plummet, it will probably be propped up by the same suckers who loaned the US the 3 billion a day to pay for crimes against humanity and other follies and felonies of the Bush crime family. While they may rebalance their central bank, it is unlikely there will be a run on Treasuries as this would be outside of the self interest of their holders—China, Japan, UK, and others.
One of the strategies for a country with a devalued currency is to back it with commodities. The underlying strategy of the response to the mortgage implosion is to further devalue real estate, which can be an attractive tangible asset that can be sold to China and oil-producing countries.
While the US dollar is not backed by gold, it is backed by 12,500 nuclear warheads.
Economists point out, rightly so, that the US dollar is approaching—as do all fiat currencies—its true value, which is zero.
The gold standard was dropped by Britain in order to print sufficient money to fund WWI, and again by Nixon in the US to fund the invasion and occupation of Viet Nam, a manoeuver without enough support to permit raising taxes. Now the boy idiot in the WH is running down the US currency to fund his imperial ambitions.
While the best thing would be for the USD to plummet, it will probably be propped up by the same suckers who loaned the US the 3 billion a day to pay for crimes against humanity and other follies and felonies of the Bush crime family. While they may rebalance their central bank, it is unlikely there will be a run on Treasuries as this would be outside of the self interest of their holders—China, Japan, UK, and others.
One of the strategies for a country with a devalued currency is to back it with commodities. The underlying strategy of the response to the mortgage implosion is to further devalue real estate, which can be an attractive tangible asset that can be sold to China and oil-producing countries.
While the US dollar is not backed by gold, it is backed by 12,500 nuclear warheads.