Tuesday, July 17, 2012

The End of the Dollar is Neigh

While Congress is wringing their collective hands over US Olympian uniforms that are made in China and incumbent president Obama and presumptive challenge Romney are mud wrestling over who has sent more jobs offshore, along comes another observation on the doom of the dollar. This article gives eleven reasons why the role of the dollar as a global reserve currency is about to end.

I have been tracking currency swaps that China has entered with other nations. The aforementioned article points out that China is not the only country making this trade provision that would by-pass the need to hold onto dollars.

No one in the mainstream media seems to be following this global trend of shying away from the dollar nor examining the consequence to the American economy when the value of the dollar plummets and inflation grabs the consumer by the throat. 

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