I gave the dual currency much thought in the summertime
but not recently, ok to freshen up the tinker
one for foreign consumption will be to fuch them over royally, forming a firewall for protecting against domestic damage
they essentially will be calling in ALL FOREIGN HELD CASH DOLLARS
by doing so, they can deny payment to drug lords, organized crime units, rogue govts, illegal offshore banks, etc
but it wont work, since agencies like The Great Iraqi Printing Press will find a money laundering route to Italy or France or Germany
Soddomy has built the greatest counterfeit production in history, spewing out $50B/yr in it height years ago
DeptTrez senses a colossal world fallout with a failing dollar, for the main reason that the positive momentum seen in the last decade could invite negative corrective momentum next, especially if (a dire possibility) foreign banks (e.g. Asians) sell their USTBonds in favor of gold or Euros
JW, it is all about a domestic firewall to protect US financial system
but it will have minimal effect
so we are to have two USdollars, and the foreign dollar gets trashed
we are rapidly approaching the Chinese currency model, whereby their RENMINBI is used only within its borders and is not traded in the Forex
RENMINBI = people's money
and Chinese foreign transactions use the YUAN, tradable in private circles but not yet on the Forex
the yuan is not easily convertible
in fact, soon it will be, and my guess is the yuan will be partially backed by gold
this will catapult China into world power status in banking, and usher in a great economic development phase
how can extreme foreign selling of USdollars be separated from extreme damage to even local USdollars?
it cannot
this is a shellgame which will severely undermine the currency
and possibly undermine confidence in all world major currencies
the yen-dollar-euro triangle is a fragile substitute for a gold standard of stability
shaking its confidence will do widespread unexpected damage
the move will render foreign held dollars to be valued by dictum perhaps (USGovt fixed rate)
since local dollars are exported en masse to finance the federal deficit and to finance the trade gap, the "bridge" will exist for transporting the disease to our shores
if we had no twin tower debts, some measure of success could be attained, but not with our foreign capital reqmts being so magnified and outsized
the USA currency will have gone full circle, from the world's most fortified with bimetallic gold/silver standard all throught the 19th century, funding tremendous economic expansion, to the 21st century, where a firewall is necessary to protect from evil foreign predators, leaving US citizens to exchange local RENMINBI as legal tender
this is a signal of impending currency collapse
does anyone remember in 1969 the London Gold Pool attempting feverishly to defend a $32/oz gold price?
it failed, resulting in a 25-fold rise in gold as currencies were shaken
now the Gold Cartel is feverishly defending $320/oz gold price
and people actually believe they will succeed !!!!!!
I expect very large errors of judgment soon with the management of the USdollar
crisis requires action, and I expect poor decisions based on political pressures
increasingly corrupt and inept people have taken over the important responsibility roles
DeptTrez has become a training ground for the inept after it served as a crony fraud club in the previous administration
currency manager errors will gradually become magnified
I count on it
/ jim |
