The End of the US Dollar?

Source Article

I don't know if this has been posted before but the article from Dave Chapman is so good with some excellent and stunning charts that I had to share it with the ATS community. Please click the link above and view the article in its entirety.

The recalculation of the inflation numbers were provided by www.shadowstats.com. That chart suggests that the US dollar has lost over 98 per cent of its purchasing power over the past 100 years.

Yea, I don't see using the dollar after this year, if it makes it that far...

It is clear from the chart linked below that we owe our GDP to the public debt and we owe our ability to sustain such an unbelievable debt to our fiat currency. I would link this then to the ATS thread on Income Distribution which shows that the change in share of income has dropped or been steady for the past 40 years since 1971 when the debt crisis took off in earnest. This debt / fiscal policy (started in 1913) is the true cause of our social economic problems not the "rich" in general, as I argued in that thread.

Originally posted by Caji316
Yea, I don't see using the dollar after this year, if it makes it that far...

It is an interesting game - how long can an obvious absurdity linger on. The nation is making no attempt to run even a balanced budget - but a $1,270,000,000,000 deficit. I know where are used to that trillion amount now that its been bandied about but that deficit is enough to buy 57.8 billion 50 lb bags of rice or to buy every man, woman, and child on the planet 444 pounds of rice (at market price).

We, of course, will not be so noble with that over and above 1.27 trillion - we will instead payout seniors the money that was stolen from them all their lives to keep them in line and use the rest to fund wars. I thought the rice comparison would be useful since its actually China's 1.27 trillion we are spending. :-)

[edit]
I wanted to take my absurd example to its forgone conclusion - just to illustrate how much (the nations of the world) suck and could care less for people. That 444 pounds of rice would be equivalent to ~3800 servings or enough to keep everyone on the planet fed for 3.4 years (off that one "tiny" little deficit).

Lindsey Williams has been saying the elites have targeted "Before the end of 2012" to fully devalue and abandon the US dollar. I used to scoff at the guy, but he's been proven correct more often than he's been proven wrong lately.

India's had it with the greenback:

Bank of India becomes first to offer trade settlement in yuan

Indian buyers are at present making payments in US dollars, and they often have to convert rupee into the US currency for the purpose. The US dollars will no more be the intermediary currency as the BOI is offering direct settlement between the rupee and the Chinese money.

Chinese exporters want their money in the local currency, which is regarded as more stable compared to the US dollar. They are also in a position to have their way because Indian buyers do not have an alternative source of low-cost goods, sources said.

The process has been facilitated by a recent memorandum of understanding signed between the Reserve Bank of India and the CBRC to enhance banking relationship between the two giant neighbors.


More at The Times of India

Originally posted by burdman30ott6
Lindsey Williams has been saying the elites have targeted "Before the end of 2012" to fully devalue and abandon the US dollar. I used to scoff at the guy, but he's been proven correct more often than he's been proven wrong lately.

I have this eerie feeling the end of the dollar will be at the end of 2012. The Federal Reserve Bank has a one- hundread year charter that was signed in 1913. Guess it ends in 2013 so then what?