Saturday 20th of July 2024

the new titanic .....

the new titanic .....

It’s no secret that the dollar is on a downward spiral. Its value is dropping, and the Fed isn’t doing a whole lot to change that. As a result, a number of countries are considering a shift away from the dollar to preserve their assets.  

These are seven of the countries currently considering a move from the dollar, and how they’ll have an effect on its value and the US economy. 

Seven Countries Considering Abandoning The US Dollar 

meanwhile, some mice have already abandoned ship …. 

The US dollar is still officially the world’s reserve currency, but it cannot purchase the services of Brazilian super model Gisele Bundchen Gisele required the $30 million she earned during the first half of this year to be paid in euros

Gisele is not alone in her forecast of the dollar’s fate. The First Post (UK) reports that Jim Rogers, a former partner of billionaire George Soros, is selling his home and all possessions in order to convert all his wealth into Chinese yuan.  

Meanwhile, American economists continue to preach that ‘off-shoring’ is good for the US economy and that Bush’s war spending is keeping the economy going. The practitioners of supply and demand have yet to figure out that the dollar’s supply is sinking the dollar’s price and along with it American power.  

The End Is Near! 

and as the bushit band tries to play on ….. 

The Dow plummeted 360 points and the dollar sank to a record low against the euro yesterday as "investors worldwide grew skittish over rising oil prices and the prospect of a substantial economic slowdown in the United States."  

The markets are being "driven down by fear that the troubles in housing are likely to continue well into next year, contributing to further losses in credit markets and spreading pain to the rest of the economy." 

US$9 trillion: Amount of publicly held US debt - "the first time ever" it has breached US$9 trillion.  

In September, "President George W. Bush signed a measure to increase the debt limit ceiling to $9.815 trillion from $8.965 trillion, allowing the government to keep issuing debt." 

talk about the new titanic …..