Saturday, July 26, 2014

The Reign of the Dollar Might be at an End -- at a $17.5 Trillion Expense

   Tonight, I am listening in on a video speaking of how the U.S. dollar is about to lose its status as the world's reserve currency.
   Don't be cool with that. Don't think it no big deal. The video argues that a debt default would be inevitable for the U.S. if we did not have the ability to print money. As the world's reserve currency, we can cover our debts simply by printing money. But, if the international market quits accepting our dollars, we will no longer be able to simply cover those debts to them by printing our own dollar bills. If they start saying, "No, I don't want a dollar bill. You must pay in gold," we are in trouble.
    And, the video points out that that is already beginning to happen. It lists some of the places where the dollar is no longer the exchange currency.
    Will that $17.5 trillion debt soon be tumbling down upon us? We have propped it up by printing money. But, if we are no longer able to do that . . .
http://pro.stansberryresearch.com/1404EOAJULY1/PPSIQ707/?h=true

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