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Title: | The dollar is about to fall off a cliff | |||
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| Name: | Clickfool | | |||
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| City: | Sussex | State: | England | | |
| Mad overspending by the US government and US consumer is at the core of the world`s sickness. Both funded their greed for things they couldn`t afford by borrowing on a colossal scale, paid for by vast rafts of US promissory notes to the World`s exporting countries. Even now the US economy is hopelessly out of balance and still totally dependent on the world accepting their debt, denominated in rapidly depreciating dollars. Forget the vast store of US Treasury paper held by China, Japan and other gullible folk. It will only take a MARGINAL reduction in their willingness to hold on the CONTINUING flow of new US debt to bring the dollar crashing down. The sensible thing for Chinese exporters to do when they`ve been paid in dollars is to convert it as fast as they can into Swiss francs, Euros, oil or gold. Anything but dollars. Only when mad US overspending has been corrected will there be any semblance of stability. This will cause huge pain in the world economy |
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