This report was originally published by Brandon Smith at Alt-Market.com
If you leave your sliding glass door open, you might let in a stray cat, raccoon, or bugs without knowing it.
Some intruders are worse than others. All can be annoying. But let in a thief, who robs your home… and it only takes that one time to change your life forever.
The U.S. has essentially left their “sliding glass door” open, and on March 26 China is set to become the intruder that may very well deal a death blow to the dollar.
China Prepares Death Blow to the Dollar
On March 26 China will finally launch a yuan-dominated oil futures contract. Over the last decade there have been a number of “false-starts,” but this time the contract has gotten approval from China’s State Council.
With that approval, the “petroyuan” will become real and China will set out to challenge the “petrodollar” for dominance. Adam Levinson, managing partner and chief investment officer at hedge fund manager Graticule Asset Management Asia (GAMA), already warned last year that China launching a yuan-denominated oil futures contract will shock those investors who have not been paying attention.
This could be a death blow for an already weakening U.S. dollar, and the rise of the yuan as the dominant world currency.
But this isn’t just some slow, news day “fad” that will fizzle in a few days.
A Warning for Investors Since 2015
Back in 2015, the first of a number of strikes against the petrodollar was dealt by China. Gazprom Neft, the third-largest oil producer in Russia, decided to move away from the dollar and towards the yuan and other Asian currencies.
Iran followed suit the same year, using the yuan with a host of other foreign currencies in trade, including Iranian oil.
During the same year China also developed its Silk Road, while the yuan was beginning to establish more dominance in the European markets.
But the U.S. petrodollar still had a fighting chance in 2015 because China’s oil imports were all over the place. Back then, Nick Cunningham of OilPrice.com wrote…
Despite accounting for much of the world’s growth in demand in the 21st Century, China’s oil imports have been all over the map in recent months. In April, China imported 7.4 million barrels per day, a record high and enough to make it the world’s largest oil importer. But a month later, imports plummeted to just 5.5 million barrels per day.
That problem has since gone away, signaling China’s rise to oil dominance…
The Slippery Slope to the Petroyuan Begins Here
The petrodollar is backed by Treasuries, so it can help fuel U.S. deficit spending. Take that away, and the U.S. is in trouble.
It looks like that time has come…
A death blow that began in 2015 hit again in 2017 when China became the world’s largest consumer of imported crude…
Now that China is the world’s leading consumer of oil, Beijing can exert some real leverage over Saudi Arabia to pay for crude in yuan. It’s suspected that this is what’s motivating Chinese officials to make a full-fledged effort to renegotiate their trade deal.
So fast-forward to now, and the final blow to the petrodollar could happen starting on March 26. We hinted at this possibility back in September 2017…
With major oil exporters finally having a viable way to circumvent the petrodollar system, the U.S. economy could soon encounter severely troubled waters.
First of all, the dollar’s value depends massively on its use as an oil trade vehicle. When that goes away, we will likely see a strong and steady decline in the dollar’s value.
Once the oil markets are upended, the yuan has an opportunity to become the dominant world currency overall. This will further weaken the dollar.
The Petrodollar’s Downfall Could be a Lift for Gold
Amongst all the trouble ahead for the dollar, there are some good news too. The U.S. might have ditched the gold standard in the 1970’s, but with gold making a return to world headlines… we could see a resurgence.
For the first time since our nation abandoned the gold standard decades ago, physical gold is being reintroduced to the global monetary system in a major way. That alone is incredibly good news for gold owners.
A reintroduction of gold to the global economy could result in a notable rise in gold prices. It’s safe to assume exporters are more likely to choose a gold-backed financial instrument over one created out of thin air any day of the week.
Soon after, we could see more and more nations jump on the bandwagon, resulting in a substantial rise in gold prices.
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NEWS FLASH THE DOLLAR DIED LONG AGO.
NEWS FLASH THE VALUE OF GOLD IS NOT GOING UP IN US DOLLARS, IT JUST TAKES MORE FIAT DOLLARS TO BUY THE GOLD. IF WHAT BRANDON WRITES COMES TO PASS THE US DOLLAR WILL NO LONGER BE A SAFE HAVEN FOR INVESTORSNWHICH FURTHER LOWERS THE VALUE OF A DOLLAR. PRETTY SOON IT’LL ONLY BE GOOD FOR TP.
Yeah, but who wants all that drug residue on the old sphincter.
The price of Gold is manipulated by Rehypothification. Kind of like fractional banking. Where trickery in accounting loaning or leasing the Gold out many times over. Its fraud accounting. Its bought and sold on Paper with margins as low as a few dollars controling hundreds of dollars in paper contracts which allows for price manipulation. Silver is getting beat up worse in price than Gold sitting at 80 to 1 Silver to Gold price Ratio. Silver should be at about 50 to 1 and at about at $26 dollars an ounce right now.
There is really no good safe haven for investing which you can control outside of your local domain, as its all subject to manipulation.
This article fails to mention the Chinese Yuan being backed by Gold. Russia sells Oil to China for Yuan then converts it into Gold and goes home with the Gold.
Yes the Dollar needs to be crushed to get that stinking Rothchild family banking cartel of parasites off Americas back. Yes it will be painful for those who think cash is king.
But for the good of Americans, the US Dollar needs to be destroyed and the cockroaches put out of business. Get rid of your soon to be worthless paper cash toilet paper. Suggestions pay off all your debts now with any excess cash and be debt free will help you.
Good reply above but if the dollar value drops you should not pay off your loans yet. Hold more gold as a hedge for inflation and your loans become smaller. Best bet is to have gold and land and NO debt but that doesn’t always happen like that.
We need a national currency. We should just dump the Central Bank private rip off. We can mine our own rare and not so rare elements. We can design new and better technologies and make our own cars, trucks, trains, and planes.
The traitors who gave our technology to China need to be cxxxxx xxxxxxxx xxx XX xxx.
_
We have a national currency. It is (or rather was) called the U.S. Dollar (USD). Not only that our national currency is (at least for a little while longer) the world’s reserve currency.
What happened? You might ask this, if you have been living under a rock for the past 100-years. Greed. Avarice. Printing money you don’t have. Spending money you don’t have. Allowing the creation of central banks — specifically the FED.
And then when it all collapses say something really stupid like “Hey? You know what we need? We need a national currency.”
Americans. So unrelentingly stupid.
The US Dollar is NOT our National Currency. Its a private Fed Reserv currency we use in commerce. We had a National Currency at one time in the early 1960’s called the Silver Certificate, backed by Silver that competed with the Fiat US Dollar. But the Banksters killed JFK to get rid of the Silver Certificate so the banksters could keep their money monopoly in play. Most all the Wars the US has been in since 9-11 has been to protect the US Petro Dollar from those who stray from the Petro Dollar. Iraq was moving to a gold based currency and why GW Bush attacked Iraq Not WMD’s. Libya is another good example becase they were moving to a gold based currency. The US destroyed that nation and killed Ghadafi. Its murder and genocide to protect the Rothchild banking cartel.
Russia, Iran, China they get it and avoid the US Dollar. Thats why they are deemed the new Boogieman. Its all Fraud the US government is deploying..
If we follow your argument then the Banksters assassinated JFK to keep the USD as the national currency.
But we don’t need your argument. Just the facts.
The Bretton Woods agreement. Definition. “An agreement signed in 1944 that outlined rules and regulations for an international monetary system. It established a fixed exchange rate linked to the U.S. dollar, with other countries pegging their currency to the dollar.”
Besides, the US was on the gold standard (Who gives a crap about silver anyway?), before and after JFK was assassinated.
It was then President Richard Nixon, in 1971, who “is blamed for taking us off the gold standard when in fact, the United States was taken off the gold standard thirty-eight years earlier by President Franklin D. Roosevelt.”
Nixon needed to be able to print enough dollars to cover the cost of the Vietnam War, and the only way he could do that was taking the country off the gold standard.
After 1971, the USD became a fiat currency. JFK had been dead nearly 8-years by 1971.
I reckon one good barometer of things to come is if and when the Sauds start buying the Q-Biz’s vs. the AR’s.
The death of the dollar (USD) has been coming for a long, long time.
The value of the dollar (USD) has fallen between 96- and 98-percent since December 1913, when then President Woodrow Wilson signed the Federal Reserve Act and created the FED.
The last 2-percent drop to zero value is going to be the real killer, when the U.S. standard of living collapses. Could happen this year. Will most definitely happen in the next 10-years.
In 1971, then President Richard Nixon, gave the USD the big kiss of death when he dumped the gold standard and the dollar became fiat currency.
Fiat currencies always die. The Pound Sterling lasted for 40-years. The death of the USD is way overdue.
I can’t afford gold now. Inflate the hell out of it, it won’t matter to me. Who sets the value of gold? Cost of production and profit.
Anything above that is just as arbitrary as our Fake money.
BTW there is not enough gold in existence to cover all the currencies out there. One estimate I found is
a little less than 7 trillion dollars, others have it around 8 trillion.
If the world is stupid enough to adopt the Yuan it deserves the insecurity that comes with it.
I’m buying a Tbill in May.
So price of gold is set at a trillion dollars per gram.
That’s more than enough to pay off all world debt with plenty enough left over to make everyone in the world filthy rich.
rellik,
The price of gold is based on “supply” and demand, in combination. Unfortunately, the evil shits that run the world manipulate the “supply” so grossly that “supply” is distorted. However, all manipulations and distortions eventually adjust to “market”, it’s just a matter of time.
So you would rather become a T-bill bagholder? The $8 trillion is based on today’s gold price. Take today’s price and multiply it by 10 or 100, then you can back the world’s economy. The Russians and Chinese have been net sellers of US debt and they are hoarding gold for the past decade. Peter Schiff’s timing is somewhat early, but his vision is spot on. Pick up his latest edition of “The Real Crash”, you won’t buy that T-bill.
This makes me very sad. This is real and it is happening and it WILL spell the end of the Dollar as a world currency. I twill spell the end of printing money like we have been doing for too long. It will be very bad… and not many people seem to understand how bad it will be.
The worst part is it is all part of a (obvious to see long term) plan to ruin the USA.
Just one question is- Why did we ever ship our manufacturing to China. Why did we ever allow trading with ha country who cheated on currency exchange? Why? Why did we allow so much to happen when it was obvious what the end result would be?
The only answer is this was all intentional and meant to ruin the USA.
We used to be such an awesome country. Top of the World. When I was Kid it was not even debatable… and the whole world loved us… but slowly… but surely it has all eroded.
Unless I am missing something the only thing proppping up has been the Petrodollar and our deal with OPEC that stated “”BY GOD, OIL TRADES ONLY BY THE DOLLAR!!””.. .and it has worked. Anyone who messed with that got “offed”.
People do understand Ghadffi and Hussein were offed because they dared to say “We will trade oil for gold”… I mean no one really believes all that WMD BS do they? If it was really about WMD we would have invaded NK a long times ago.
So… this is PetroYuan is really happening soon?
When it does, unless I am missing something it is only a matter of time before the Dollar is doomed. No more printing Dollars like there is no tomorrow. No more silly deficits. No more any of that BS…. the party will be over… and we may go the way of Greece and Venezuela…
…and facts be known those countries may have been “test cases” to see how people really operate when SHTF, when first world modern countries become Shtholes.
Brace yourselves.
As the song about once-dominant England goes:
We were the country that had everything.
We were the country, ‘Rule Britannia’ we would sing.
We were the country and we could never lose,
Once a nation and now we’re run by ((()))s.
We want our country back NOW!
http://www.youtube.com/watch?v=9g_snDDy6Kk
And this is supposed to be bad news? Finally the military has come up against a country that they cannot bully into using the created out of thin air backed by nothing Petro Dollar. When the Petro Dollar is no longer the dominate currency in the oil trading. Then The wars in all those oil producing places in the middle east will end. The runaway spending by the USA government will stop. Whoever is a producer and can make build and Grow necessary and desired products will get their deserved rewards. The government enabled taking parasites will no longer have the free ride that has been enabled by the never ending increase in the national debt. This is just the sort of thing most prepper’s have prepped for. If its eventually gonna happen. Why wait? For me im only getting older. Im as ready as I ever will be. It good news I cant wait!
Old Guy,
Amen!
Same here OG
???
Bring it!
your a bitter OLD moron. Please do the world a favor and die.
First – “Anonymous”, you afraid of even being known as something? What kind of coward are you. Most here use and have been using the same screen-name for quite some time. We kind of get to know one another that-a-way. Call it a summary definition of our basic personalities. As for asking that anyone here just “die”… oh really? Well, all I can really say to that is that hopefully you never become ‘OLD’. Maybe you’re so ‘good’ that you’ll follow the song, “…. only the good die young”. You see, you’ve shown yourself already to be the other adjective; and for sure, there object noun.
Many folks do not understand that the Fed is owned by bankers and is not a part of the federal government. The Fed creates digital dollars out of thin air. just numbers on spread sheets. The fed does not print money. Its The US Mint that is part of the USA goverment that prints the paper money. And they print 24×7. But only in demoniations of $100 or less. And paper money wears out and the mint burns truckloads of worn out bills every day. There is a shortage of actual paper cash money. They never wanted to increase the supply of actual paper cash. because they wanted to create a cashless society. So come a collapse your local goverment’s will have to accept the paper cash for your tax debt. That paper cash will still be legal tender for all debt’s public and private.
The Fed. Res. is a private entity that gives credit to the gov’t by buying T – notes or bonds or bills, that is, the gov’t borrows the money from the Fed. Res. The FR doesn’t actually have the money, they create it from thin air. They loan the created, fiat money to the gov’t with the gov’t promising to pay it back plus interest. The tax payers of the US legally assume responsibility for repayment.
If you look on a dollar bill, any denomination, you can see printed on it “Federal Reserve Note”. Even though the gov’t prints the note it does not even belong to the gov’t, it is in reality private property. The Constitution plainly states the creation of money and its value is solely within the responsibility of Congress. Why is the gov’t borrowing money into existence and then paying a private entity for it? The FR is directly co-responsible for the massive debt, and has allowed (actually guided the value of the dollar down to where it is worth only 1 & 1/2 % of what it was worth when the FR took over in 1913, they basically control the currency, national fiscal policy, and interest rates.
It is worth noting currency (notes) is merely the tool used for trading, in reality there is absolutely no intrinsic value in a bill, unlike silver or gold coinage that had both intrinsic value and face value. Money is the store of value (such as gold or silver or whatever) that allows the bill to be used for exchange of goods or services. However, there not even anything backing the currency except gov’t saying we have to use it no matter how degraded it becomes.
The US dollar still accounts for 80-90% of world currency payments for goods and services, of which the OPEC oil sales comprise @12% I think according to Louis Camarrasano of http://www.smaulgld.com
He is not a dollar nut like Larry Kudlow or Harry Dent, but I think puts things in better perspective.
But no doubt about it, the dollar will slowly recede.At least we can hope it is a slow process rather than a collapse.
Cryptocurrencies, a misnomer in my opinion due to the fact that they may not be cryptic from the NSA/CIA or other government agencies, represents a sort of misguided solution by those who realize that the fiat system is slowly dying and that the government is spying on our monetary activities, but alas, when the dollar finally dies, I am afraid that people will realize that cryptocurrencies, although ultimately may be a quick convenient form of transaction, (whether by the decentralized block chain ledger or some competitor like Hashgraph which is centralized, patented, etc,) will nevertheless fall short of being anything but a method of exchange, becasue they hold no store of value for the simple reaon that they are not backed, and require future inputs of energy and functioning internet, whereas gold and silver represent the culmination of mining, energy, production inputs and other than perhaps storage fees, require no further inputs.
For my money, I would prefer maintaining the old fashioned pre 1971 gold back paper currency method of exchange in addition to the usual VISA/Mastercard, cryptocurrency, or just plain old physical gold and silver. Paper cash and physical gold can still be the ultimate cryptocurrency (unless the government figures out how to embed a RFID chip in each paper dollar bill.
The USA government long ago ran out of other folks money to spend. long ago they learned that they couldn’t Tax & robb the producers enough to fun the parasite government. So The fed simply created digital Petro dollars out of thin air. and gleefully loaned that fiat digital money to the US treasury. And the debt ballooned . When the military can no longer enforce the petro dollar that’s the end . Its going to be a real interesting thing to see how it plays out. Look for last resort Hail Mary desperate measures that are doomed to fail.
Ok so the USA and the military enforcing the Petro Dollar has gotten too big for its britches. Its quite apparent that we have been stalemated by China. Has anyone noticed how Trump has stopped Harrassing North Korea. That’s because North Koreas big brother China told the USA warmongers you better not if you know whats good for you.
You didn’t hear? Russia and China have hypersonic nukes we cannot defend against.
Rocket Man is just a cold fart now.
So will Xi finally do it this time and quit talking about it? It is going to be so nice to watch usa collapse. Let us hope these exceptional stooped greedy kazars are finally finally made irrelevant. Maybe yankee will start something up now and then we could get to watch usa get nuked. LOL. LOL LOL. LOL now that would be a joke, a real dream come true. It is so great to FINALLY see something concrete that will Destroy exceptional-ville once and for all. If every one fires back at the homeland when yankee starts shooting, we can out gun them and completely wipe out the homeland. We are so sick of this exceptional villa I hope they are all going to be finally destroyed. This should get the ball rolling. Or I should say the ballls rolling. C,mon yankee fire at us. You COWARD just try and we will hurt you so bad you will never ever recover from your demolishing. C’mon yankee we wait patiently for an excuse to use our nukes on YOU. C,mon yankee please fire at our country. PLEASE PLEASE
bill, WHO THE HELL ARE YOU? ARE YOU A CHINK?
So will Xi finally do it this time and quit talking about it?Do we have to hear this repeated again without results? It is going to be so nice to watch usa collapse. Let us hope these exceptional stooped greedy kazars are finally finally made irrelevant. Maybe yankee will start something up now and then we could get to watch usa get nuked. LOL. LOL LOL. LOL now that would be a joke, a real dream come true. It is so great to FINALLY see something concrete that will Destroy exceptional-ville once and for all. If every one fires back at the homeland when yankee starts shooting, we can out gun them and completely wipe out the homeland. We are so sick of this exceptional villa I hope they are all going to be finally destroyed. This should get the ball rolling. Or I should say the ballls rolling. C,mon yankee fire at us. You COWARD just try and we will hurt you so bad you will never ever recover from your demolishing. C’mon yankee we wait patiently for an excuse to use our nukes on YOU. C,mon yankee please fire at our country. PLEASE PLEASE
I call B.S. China is in much worse shape at the USA.
It means nothing all the FIAT paper floating around is nothing butt T.P. (LOL).
We have prepped and reprepped for years it ain’t going to bother us a bit.
I’m happy to see it is coming on the 26Th. By that time I will have my last rifle in my stock pile, my wife and my next batch of silver will be in..
Gun Show in Princeton Illinois on 3/24 and 3/25. Come one come all.
Sgt.
Ya I think Imma stack a lil’ more too 🙂
https://www.youtube.com/watch?v=rZIqg0gBcYM
The Loan Arranger?
China is backing their Yuan with gold. that makes a big difference. Without the USA Militarys enforcing a Petro Dollar monopoly on the oil commerce. The digital petro dollar will be backed by the thin air it was created out of. Of course the SGT’s pension is in the doomed digital Petro Dollars so he will lose it if the fiat Digital Petro Dollar is no more.
Perhaps you should look it up,
basically since we were able to keep
track of it the world only has about
7-8 trillion dollars worth of gold
at todays prices.
China 2018 GDP is 1.2 trillion
America GDP is over 18 Trillion.
They may be able to go to the gold standard.
We can’t.
Who do you want to bet on?
My mistake, China GDP is 12 trillion.
Yeah, and China’s debt is roughly two and a half times their GDP. See a problem?
Yes. China and Russia use their gold. The U.S. uses their military.
At today’s fully-rigged, manipulated, and controlled prices, gold is relatively cheap. China and Russia are buying all they can.
On the other hand, the U.S. military costs the American people the kind of money the next seven (7) countries combined spend on theirs national defense.
The result?
China and Russia will conquer the world economy (and the U.S.), on the cheap.
I can take dollars and buy gold any time.
All paper currencies are fiat, including the Yuan.
All g7 nations run massive debt.
This debt expansion will and must continue.
You go back in history and claim the debt will destroy the dollar at any time in the past 100 years. Still waiting. It ain’t going to happen. The world is interconnected to a point where the currencies of the g7 are all one of the same.
Since it’s posted here I’d call it fear porn.
Though I’m very surprised this porn isn’t attempting to get you to pay for something, buy something or invest in something.
Horse,
This site is really fun,but
Mountain house food is really bad.
I don’t buy NBC stuff, and I
can’t afford PM’s.
You can learn a lot about
farming, and survival, you just
have to sort through it.
The politics here are fun as a lot of us would
be banned on other sites.
I’ve been banned on a few.
In fact someone on this site turned
me in to the Freerepublic so I got banned
for a fourth time from them.
Freerepublic posts a lot from here.
relik, Just an FYI for ya, When you go to use a #10 can of Mtn. House or whatever dried food you need to FIRST turn the can upside down and shake it for a bit. The flavorings/ seasonings all settle into the bottom of the can and you need to remix it before using it. That could be your issue. My new name for kommiefornia is Calizuella 😛
Tell ya what Relik, if you were hungry enough, you would eat the Asshole out of a skunk if you had to.
Relic your right. Here’s a fact.I’m in China now. Life goes on. Wages have tripled in the last ten years. Food has doubled. They are where we were in the 60’s. They deal in cash no chip cards here.The food is grown in the country and supply the cities.Life is just getting better here. The infrastructure is much better and not delapitatating like north america. I read in 1982 that north America would become a third world country and have been watching it happen. I cashed in my pension from the stock market and got all in silver. Now what will they do…tax me again when i want to buy something? I lost 30 percent in tax when i took it out. I think silver rounds one oz coins are the best to buy items in a crashed society. A bug out in your own country. A place where you don’t need to go back into society if plague hits. Wait a year. Let them die off. Continually keep in touch with Elohim. Give him thanks for what you have. Admit that with out him you’re nothing. There’s a new world kingdom coming where he will rule. Shalom
Chinese yuan are used in less than 2% of all trades in the world today. Even if this yuan denominated oil contract comes into play on March 26th it will be years before the Chinese have a large enough bond market for the yuan to become a reserve currency.
The big question is;
would you rather have Dollars
Euros, Rubles Swiss Francs,
or the Yuan.
I’ll take Silver American Eagles for 10,000 Alex…
Canadian Maples. American gold and silver sucks.
Ya canadian is 99.99% where american silver is 99.9%. Gold eagles are 10% copper 90% gold so ya they suck. I just get bullion rounds anymore.
You just know a country is f*cked when they start defacing and diluting their money.
This whole business of re-designing our currency every couple of year, to combat counterfeiting, is pure BS.
The real reason is to desensitize the American people and the world to the coming digital currency and the end of paper money.
Have you hear the US Treasury’s lame-a** argument about how expensive it is getting to print money?
Besides everybody ‘just knows’ that only criminals, crooks, and drug dealers use cash. ‘They just know.’
Same thing with the whole Travelers Checks. Can’t get those anymore. Last time I tried all the bank would say is: “Oh, no. You can’t get those anymore. The counterfeiting was just getting out of hand.”
I agree with most on here that the 26th does not mean the end of the dollar. It may be the beginning of the end. I don’t think the yuan will take over the worlds reserve currency. I think it will be the SDR ( special drawing right ) which is a combination of currencies. When that happens reports have said that goods in the country will go up 20 to 30 percent overnight. It is just a sign of coming things I think.
For us preppers it is one of the things we prep for.
What happens to social welfare programs?
Food stamps?
Social Security?
Medicare?
When those things are no longer funded then the real pain begins. Riots, looting, crime, and such. People will begin to act like animals. That is when the music stops. Unless something is done power will go out and trucking will stop.
The SHTF. We prep for this. I am amazed it has not happened already.
I keep saying it is all paret of an obvious plan to ruin to the USA… and the welfare state is part of that. I never understood why the want so many people on food stamps. Right now between 40-50 Million people in the USA are on food stamps. That is UNREAL.
That will between 10-25% of the people who will NOT BE on (Supplemental Nutrition Assistance Program (SNAP)) WHEN we as a country are forced by reality to stop running deficits. That will be 25% of the country who will be hungry… and hunger will drive people to rationalize that it is OK to do anything to anybody.
This is not to mention the aging population who dream, imagine, hallucinate that they will ever actually receive that check from Social Security when they reach age 67.
If the country is broke that check WILL NOT BE coming.
Of course these things will only affect poor people, the top 10% will still be fine…but the bottom 90% are going to be… well… look at what happened to Greece and Venezuela for a glimpse into the future.
It did not have to be like this. We were a great country with a middle class producing goods, services and food for ourselves. Main Street thrived… things were GREAT!! The world loved us… and then…
…and then the bored upper 1% decided to play a game…and had a plan… and that plan is working.
In 100 years they will teach courses about the rise and fall of the USA, and they will talk about how it happened… and the people ask- “Why did the dumbazzes (you and I) back then (now) allow this to happen?” juts the way we ask “Why did the German people allow Hitler to rise to power?”
There is no invisible hand… it is all planned out. They hold an annual meeting and decide how it will be for the 99%… and how it will be for the 1%.
“. . . reports have said that [the cost of] goods in this country will go up 20 to 30 percent overnight.”
All these “under-funded” (read: stolen from) pensions (both public and private), they go belly-up.
Food prices at the grocery store, already high, will go up between 20- and 30-percent almost overnight. Imagine not being able to eat for roughly 4-months out of the year.
Imagine the price of gasoline going back up to over $4.00 per gallon.
And car insurance? Wow (or rather “Ouch”).
Taxes. The government bureaucrats gotta live.
All up, and down, the line.
Writer is using faulty logic. Nothing will change. The US govt keeps spending, oil continues to flow cheaply, US/EU population continues to rise on “immigration”, the world debt continues to reach new records every second from now on, Wall Street indexes will make new all time highs in just a few weeks time. You keep blaming the rabbits for feeding the coyotes and proclaim the sky is falling every night as the sun sets.
Look at it this way, we buy all of china’s products and we have lead china into the hole of debt. Remember Japan, When we pull the plug they are doomed not us. We engineered this shit. Why do you think manufacturing is coming back to America? Because it is time and we have destroyed there economy. We will once again Lead and control the world. They might fight but they will perish if they do.
I like your style North Lander! (Michigander)
To fulfill these contracts China will have to print up a bunch of Yuan. Over time this will be highly inflationary for China and the Yuan value will fall. The flip side of that is the Dollar will strengthen as the Fed raises rates and all those excess (petro) Dollars aren’t needed. This will put downward pressure on dollar denominated gold.
Events have an annoying habit of not working out in the obvious ways. China is allowing a modicum of free market behavior but in the end they are a centrally planned Communist country. How does that always work out? Bet accordingly.
BTW, The Yuan is not “backed” by gold. It will be “convertible” into gold which means that it can be used to BUY gold – something which for the Yuan (and the Ruble) was not true for 70 some odd years. Nobody in the world was stupid enough to trade their gold for either of those worthless commie currencies.
Their soldiers will get that death blow right here is Texas when they get here. That’s a promise. I know you soldiers with the PLA that read my post cant wait to attack us, now your threatening Vietnam. But we are warning you, don’t come here and do that, you will suffer horrifically. Make sure you don’t get captured, red necks in Texas are telling people that they are going to scalp you. Good luck when you get here. Good luck with Taiwon, the F35’s will deliver the death blow to your carrier groups. Your soldiers bodies will be floating in the sea.
HCKS.
China doesn’t need to strike a blow. Just unplug the life support!