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Originally posted by shapur
Saddam hussain and Ghaddafi were two leaders who wanted to trade by different currencies than the petro dollar and we all know what happened to them.....Iran,India Russia,China,Venezuela and now japan and maybe Australia are starting to do the same....Can America go ahead and take them leaders all out?!...I don't think so...So yes dollar is not looking good these days at all, and seems like it will only get worse,...Considering dollar to be one of the very few bullets left in America's gun,they should play their hands very wisely.
Originally posted by MidnightTide
The idea of waking up and China owning the world is faulty as well, in my opinion. Their economy is purely driven on currency manipulation and phony GDP growth. They have cities that are empty and con its citizens into buying into it as a sound investment. They have been reckless in their spending, signing countless agreements but then never paying. So what happens when the US dollar tanks - there goes its #1 buyer, there goes countless millions of jobs. Wonder what happens to its middle class who have tasted the good life? Yes, they have been buying gold and other natural resources around the globe - they can see the writing on the wall, but will they be able to hold onto it when the globe gets shaken when the fake economy crumbles?
Money which has no intrinsic value and cannot be redeemed for specie or any commodity, but is made legal tender through government decree. All modern paper currencies are fiat money, as are most modern coins. The value of fiat money depends on the strength of the issuing country's economy. Inflation results when a government issues too much fiat money. Read more: www.investorwords.com...
Give up the Reserve Status without a fight. It will win you some much needed respect.
Originally posted by Polonia I have three words for you...........Fiat Money System