Tuesday, August 23, 2016

Dollar Disaster Looms? 
China & Russian Currencies Break Away
The Daily Bell points out how in October, the Chinese currency joins the IMF SDR basket of money .. this is going to have major implications for the U.S.$ .. "The U.S. will continue to print dollars but those dollars may not find a home abroad so easily. Instead they may circulate back into the US economy creating significant price inflation. The U.S. was able to do so much damage domestically and abroad because of its virtually unlimited spending power. It’s been able to prosecute endless, horrible wars and imprison up to 5% of its adult population at any one time. Now things are changing. Between the Russian announcement and yuan/RMB convertibility, the U.S. will gradually have more trouble printing money at will. Perhaps the corrupt military-industrial complex will be impelled to shrink and large-scale social programs like the wretched Obamacare will have more difficulty with funding as well."
LINK HERE to the essay

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