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The End of Dollar Hegemony
Just as the Fed is signaling its intention to lower interest rates to near zero, we can see from the graphs above that the inevitable results of the print and spend orgy that has now been going on for several months. This trend will continue to strengthen in the coming months as the multiplier affect further adds more cheap dollars to an already deteriorating situation. Now is the time to get out of dollars!
posted by Free2Smooze | 9:51 AM
1 Comments:
The value of the Dollar is the stock price of the United States. 2010 marks the first time in American history that a foreign power owns more of our debt than Americans themselves. So the next time you hear an economist talk about how deficits are nothing more than money we owe ourselves, take note that the Chinese own more of our dollars than we do ourselves.
The old saying, "Whoever owns the gold makes the rules" now applies to China's yield grab and financial power over the US. It is an American dog on a Chinese leash. The value of the dollar is nothing more than how the US lifestyle expectations, manufacturing base, is out-of-step with the global realities and federal spending. As long as another country (China) can act as Americas' banker and landlord, we are not as free, or for that matter, wealthy, as we think.
Danny L. McDaniel
Lafayette, Indiana
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