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Strategies & Market Trends : The coming US dollar crisis
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To: Metacomet who wrote (24262)11/14/2009 8:57:47 AM
From: Real Man6 Recommendations  Read Replies (1) of 71463
 
The question is what were the triggering events for the
abdication of responsible governance of the economy, and who
were the beneficiaries.

That's easy

1. The creation of the Fed in 1913
2. Severing the final link to the gold standard in 1971
3. The collapse of the Soviet Empire.

(3) seems weird, US won the cold war. Ironically, by doing
so US set the stage for its own decline, since these economies
were liberated from the grips of communism and provided
cheap labor. The 90-s was a decade for US abuse of the dollar
as a fiat reserve currency. In 00-s that status started its
decline, first with the introduction of the Euro. So far it
was a lost decade for the US, while the developing economies
grew fast.

You can add

4. A technological revolution in telecommunication (the
internet). The new technology, how the internet essentially
handles communications, allowed a vast improvement and sharp
drop of costs. This allowed to easily export service labor as
well as manufacturing.
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