The Beginning Of The End
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10 Reasons Why The Reign Of The Dollar As The World Reserve Currency Is About To Come To An End

The U.S. dollar has probably been the closest thing to a true global currency that the world has ever seen.  For decades, the use of the U.S. dollar has been absolutely dominant in international trade.  This has had tremendous benefits for the U.S. financial system and for U.S. consumers, and it has given the U.S. government tremendous power and influence around the globe.  Today, more than 60 percent of all foreign currency reserves in the world are in U.S. dollars.  But there are big changes on the horizon.  The mainstream media in the United States has been strangely silent about this, but some of the biggest economies on earth have been making agreements with each other to move away from using the U.S. dollar in international trade.  There are also some oil producing nations which have begun selling oil in currencies other than the U.S. dollar, which is a major threat to the petrodollar system which has been in place for nearly four decades.  And big international institutions such as the UN and the IMF have even been issuing official reports about the need to move away form the U.S. dollar and toward a new global reserve currency.  So the reign of the U.S. dollar as the world reserve currency is definitely being threatened, and the coming shift in international trade is going to have massive implications for the U.S. economy.

A lot of this is being fueled by China.  China has the second largest economy on the face of the earth, and the size of the Chinese economy is projected to pass the size of the U.S. economy by 2016.  In fact, one economist is even projecting that the Chinese economy will be three times larger than the U.S. economy by the year 2040.

So China is sitting there and wondering why the U.S. dollar should continue to be so preeminent if the Chinese economy is about to become the number one economy on the planet.

Over the past few years, China and other emerging powers such as Russia have been been quietly making agreements to move away from the U.S. dollar in international trade.  The supremacy of the U.S. dollar is not nearly as solid as most Americans believe that it is.

As the U.S. economy continues to fade, it is going to be really hard to argue that the U.S. dollar should continue to function as the primary reserve currency of the world.  Things are rapidly changing, and most Americans have no idea where these trends are taking us.

The following are 10 reasons why the reign of the dollar as the world reserve currency is about to come to an end….

#1 China And Japan Are Dumping the U.S. Dollar In Bilateral Trade

A few months ago, the second largest economy on earth (China) and the third largest economy on earth (Japan) struck a deal which will promote the use of their own currencies (rather than the U.S. dollar) when trading with each other.  This was an incredibly important agreement that was virtually totally ignored by the U.S. media.  The following is from a BBC report about that agreement….

China and Japan have unveiled plans to promote direct exchange of their currencies in a bid to cut costs for companies and boost bilateral trade.

The deal will allow firms to convert the Chinese and Japanese currencies directly into each other.

Currently businesses in both countries need to buy US dollars before converting them into the desired currency, adding extra costs.

#2 The BRICS (Brazil, Russia, India, China, South Africa) Plan To Start Using Their Own Currencies When Trading With Each Other

The BRICS continue to flex their muscles.  A new agreement will promote the use of their own national currencies when trading with each other rather than the U.S. dollar.  The following is from a news source in India….

The five major emerging economies of BRICS — Brazil, Russia, India, China and South Africa — are set to inject greater economic momentum into their grouping by signing two pacts for promoting intra-BRICS trade at the fourth summit of their leaders here Thursday.

The two agreements that will enable credit facility in local currency for businesses of BRICS countries will be signed in the presence of the leaders of the five countries, Sudhir Vyas, secretary (economic relations) in the external affairs ministry, told reporters here.

The pacts are expected to scale up intra-BRICS trade which has been growing at the rate of 28 percent over the last few years, but at $230 billion, remains much below the potential of the five economic powerhouses.

#3 The Russia/China Currency Agreement

Russia and China have been using their own national currencies when trading with each other for more than a year now.  Leaders from both Russia and China have been strongly advocating for a new global reserve currency for several years, and both nations seem determined to break the power that the U.S. dollar has over international trade.

#4 The Growing Use Of Chinese Currency In Africa

Who do you think is Africa’s biggest trading partner?

It isn’t the United States.

In 2009, China became Africa’s biggest trading partner, and China is now aggressively seeking to expand the use of Chinese currency on that continent.

A report from Africa’s largest bank, Standard Bank, recently stated the following….

“We expect at least $100 billion (about R768 billion) in Sino-African trade – more than the total bilateral trade between China and Africa in 2010 – to be settled in the renminbi by 2015.”

China seems absolutely determined to change the way that international trade is done.  At this point, approximately 70,000 Chinese companies are using Chinese currency in cross-border transactions.

#5 The China/United Arab Emirates Deal

China and the United Arab Emirates have agreed to ditch the U.S. dollar and use their own currencies in oil transactions with each other.

The UAE is a fairly small player, but this is definitely a threat to the petrodollar system.  What will happen to the petrodollar if other oil producing countries in the Middle East follow suit?

#6 Iran

Iran has been one of the most aggressive nations when it comes to moving away from the U.S. dollar in international trade.  For example, it has been reported that India will begin to use gold to buy oil from Iran.

Tensions between the U.S. and Iran are not likely to go away any time soon, and Iran is likely to continue to do what it can to inflict pain on the United States in the financial world.

#7 The China/Saudi Arabia Relationship

Who imports the most oil from Saudi Arabia?

It is not the United States.

Rather, it is China.

As I wrote about the other day, China imported 1.39 million barrels of oil per day from Saudi Arabia in February, which was a 39 percent increase from one year earlier.

Saudi Arabia and China have teamed up to construct a massive new oil refinery in Saudi Arabia, and leaders from both nations have been working to aggressively expand trade between the two nations.

So how long is Saudi Arabia going to stick with the petrodollar if China is their most important customer?

That is a very important question.

#8 The United Nations Has Been Pushing For A New World Reserve Currency

The United Nations has been issuing reports that openly call for an alternative to the U.S. dollar as the reserve currency of the world.

In particular, one UN report envisions “a new global reserve system” in which the U.S. no longer has dominance….

“A new global reserve system could be created, one that no longer relies on the United States dollar as the single major reserve currency.”

#9 The IMF Has Been Pushing For A New World Reserve Currency

The International Monetary Fund has also published a series of reports calling for the U.S. dollar to be replaced as the reserve currency of the world.

In particular, one IMF paper entitled “Reserve Accumulation and International Monetary Stability” that was published a while back actually proposed that a future global currency be named the “Bancor” and that a future global central bank could be put in charge of issuing it….

“A global currency, bancor, issued by a global central bank (see Supplement 1, section V) would be designed as a stable store of value that is not tied exclusively to the conditions of any particular economy. As trade and finance continue to grow rapidly and global integration increases, the importance of this broader perspective is expected to continue growing.”

#10 Most Of The Rest Of The World Hates The United States

Global sentiment toward the United States has dramatically shifted, and this should not be underestimated.

Decades ago, we were one of the most loved nations on earth.

Now we are one of the most hated.

If you doubt this, just do some international traveling.

Even in Europe (where we are supposed to have friends), Americans are treated like dirt.  Many American travelers have resorted to wearing Canadian pins so that they will not be treated like garbage while traveling over there.

If the rest of the world still loved us, they would probably be glad to continue using the U.S. dollar.  But because we are now so unpopular, that gives other nations even more incentive to dump the dollar in international trade.

So what will happen if the reign of the U.S. dollar as the world reserve currency comes to an end?

Well, some of the potential effects were described in a recent article by Michael Payne….

“The demise of the dollar will also bring radical changes to the American lifestyle. When this economic tsunami hits America, it will make the 2008 recession and its aftermath look like no more than a slight bump in the road. It will bring very undesirable changes to the American lifestyle through massive inflation, high interest rates on mortgages and cars, and substantial increases in the cost of food, clothing and gasoline; it will have a detrimental effect on every aspect of our lives.”

Most Americans don’t realize how low the price of gasoline in the United States is compared to much of the rest of the world.

There are areas in Europe where they pay about twice what we do for gasoline.  Yes, taxes have a lot to do with that, but the fact that the U.S. dollar is used for almost all oil transactions also plays a significant role.

Today, America consumes nearly a quarter of the world’s oil.  Our entire economy is based upon our ability to cheaply transport goods and services over vast distances.

So what happens if the price of gasoline doubles or triples from where it is at now?

In addition, if the reign of the U.S. dollar as global reserve currency ends, the U.S. government is going to have a much harder time financing its debt.

Right now, there is a huge demand for U.S. dollars and for U.S. government debt since countries around the world have to keep huge reserves of U.S. currency lying around for the sake of international trade.

But what if that all changed?

What if the appetite for U.S. dollars and U.S. debt dried up dramatically?

That is something to think about.

At the moment, the global financial system is centered on the United States.

But that will not always be the case.

The things talked about in this article will not happen overnight, but it is important to note that these changes are picking up steam.

Under the right conditions, a shift in momentum can become a landslide or an avalanche.

Clearly, the conditions are right for a significant move away from the U.S. dollar in international trade.

So when will this major shift occur?

Only time will tell.

  • jox

    1. Now you understand why the anglosaxon financial media are continuously exaggerating the problems of the Euro, spreading rumors and fears. The idea is to divert the attention from the fact that the emperor is naked.

    2. I don’t agree with the point 10. Obviously I cannot speak in the name of all Spaniards nor Europeans, but I would say that in general we hate the American government, its policies and wars, but never the American people, which are always welcomed.

    • Rhynn

      Yes but there can be no misunderstanding or disputing why when, not if, that changes.

      At a certain point? The misdeeds of elected politicians become the fault of the people who continue to elect them. In other countries, the people put their foot down and remove malfunctioning governments by force. Americans are too lazy, too self absorbed, too ignorant, and/or too afflicted by bystander apathy to do this.

      Their refusal to try, and polls which continue to show 1/2 to 2/3 of the country blindly backing the imperialism and war crimes of their country, will only be excused so long. And that’s exactly how it should be. Respect is earned. It is not a divine gift, and the sooner the U.S., Israel, Britain, and the rest of these Fascists realize this, the better for everyone. Unfortunately though, realization comes hard to the West.

      • Jeff

        I have to agree with you to some extent, I’m an American and I’m one of few that has woken up about 4 years ago and I have done everything in my power to wake friends and relatives up but it’s a uphill battle. Mainstream media has American completely in the dark, main stream media is bought and paid for by the globalist that have destroyed this country. Main stream media has gone even further twisting the truth and making is very difficult for the average citizen of the US to wake up. I have literally thrown fact and important data down the throats of friends and colleges and relatives and some still choose to not listen or wake up. America is in a trance and government is making huge strides to make it stay that way. If government wasn’t the way it was we could turn it around overnight, our government has been hijacked so it’s not in their best interest to inform us. Many are waking up but I don’t think it’s going to be enough to stop the freight train already in motion. By the time anyone wakes up its going to be too late. I am getting lots of data that this could happen as early as the end of the year. Obama is signing countless laws into effect to take our freedoms away; our constitution has been completely obliterated and obsolete. I’m a shamed to be an American in this error..

        • DownWithLibs

          It does amaze me how people around me are just going about business as usual. When the Smack hits the fan, there will be a lot of freaked out and disoriented people out there.

    • Jaws7

      I agree with jox, it is not the American people that are disliked but our government. It has been to agresive in promoting its agenda with wars. Fear has turned to hate.

    • wendy

      “the anglosaxon financial media”

      The media is not run by anglosaxons.

      It’s pretty easy to research who runs the media.

  • Josh

    Its already happening or else gas wouldnt be 4 with u.s. consumption at all time lows

    • Jodi

      Agreed! It is already happening. Meanwhile, we will hear bickering from both Republicans and Democrats back and forth on who’s fault it is. Soon enough we will all be forced to drive crappy smart cars just like Europe. I can’t see this going over to well with Americans.

      • jeff

        You are worried that the effect of massive inflation will be that we will all have to “drive crappy smart cars like in Europe…I can’t see this going over too well with Americans…”?
        hahahaha What an idiotic comment.

        If I were you, I’d worry less about having to drive a “smart car” (which may actually be a good thing instead of these 10mpg oversized SUV’s and pickups we have now) and worry more about the fact that you will have a hard time feeding your family and yourself if something like this happens.

        And you are right…most American’s will not tolerate change very well….many, including myself have grown up and never REALLY known what “doing without” means….I spent a couple months homeless, and can tell you, that even the homeless can manage to survive at a higher standard, in the current U.S. than most poor people around the world can….

        I honestly hope that all of this passes, and that somehow, the people of the world can demand a sensible return to honest money and a more equitable sharing of wealth and resources….however, I am a skeptic….and don’t think it will happen.

        There is only a couple ways out of the financial mess the US and the world is in now….Debase the currencies (inflate), allow a massive debt-destroying crash to happen (unlikely….esp because out entire system requires debt to continue), or have a massive world-wide war (which would also include the Inflation option).

        #3 is pretty likely actually…and probably the most favorable to the ruling class. Because along with #3 comes the ability to clamp down more on your civil rights….they will NEVER let a good crisis go to waste. Anyway…I’ve typed enough…sorry for the superlong post.

        • Bob

          Thanks for the great comment.

        • john porter

          america has to fail we are to far behind we will take everyones gold and come up with new currency and and start all over Debt free haha ********** u china

  • http://www.youtube.com/thepreparedpastor Prepared Pastor

    What goes up most come down. The statistical principle of ‘reversion to the mean’ dictates that all economies will eventually move toward the average. We have been enjoying an above average standard of living, but prepare for a violent transition to a third-world country. Perhaps we will not go that far, but if we plan for the worst and hope for the best then we have nothing to fear.

  • Rodster

    Can you blame other nations for dumping the dollar when we have Ben Bernake and the US Government printing money at will to pay off their debt?

    I can’t blame them.

    • Snoopy_The_Economist

      The US gov’t NEVER ‘pays off’ debt – it only creates more debt.

    • john porter

      we will not pay are debt cause we will never have the resources to pay it off so the country’s that lent us money we are just going to say sorry dont know what to tell you, now this could of not happened there is only 1 reason how we could of seen this its are Constitution and they are taking it away from a corrupted government

  • Kelby

    Heehee, first commenter!! How are you, Michael? Great article, as usual :)

    First of all, GO IRAN!
    “Tensions between the U.S. and Iran are not likely to go away any time soon, and Iran is likely to continue to do what it can to inflict pain on the United States in the financial world.”

    I wonder why?? Because we’ve badly hurt Iran’s neighbors in wars based on pure greed and lies and we DESERVE what we get for it! Plus, I hear Obama wants war with Iran now…?

    “Decades ago, we were one of the most loved nations on earth.
    Now we are one of the most hated.”

    VERILY!
    Ugh, you have NO IDEA how ashamed I am to be an American. When did we go wrong??? When did we lose our humanity?? Every movie out there is crap, the food sucks and all we care about is money, money, money. We’re trashy people, too, check out People of Walmart! Wouldnt you believe there’s a whole website about that??? Sometimes I wish I could go back in time to the 1800’s when people had so much respect for everything!

    When the dollar crashes, get ready for some hell!! I wish you luck everybody, and God Bless You! Michael, God Bless You too, for all your work! Good luck to you too! :D

    • Whens Dinner?

      You know what I call people like you ? “Benedict Arnold”

      • Save the Republic

        I think the word you were looking for is “honest”, or perhaps “truthful”

        • DownWithLibs

          Feel free to move to China or Cuba if you hate it here so much. That goes for Kelby, too.

          • Save the Republic

            Nobody said we “hate it here so much” idiot. Pull your head out of the sand and your brains out of your A. You must be employed by a defense contractor if you’re in favor of bankrupting the country in order to start wars all over the globe to impose “freedom” on other countries, when we are not even free here but enslaved by the govt to enrich themselves and their elite buddies.

          • Gumby

            Down with Libs- does that mean you’re proud that our government is a debt junkie that picks on weaklings to demonstrate its “strength”? LOL

            Like every empire with a distorted image of itself, the USG is willing to destroy its citizens to remain in power. Iraq was a target because it dumped the USD. Iran is a target for the same reason.

            Note that Bush couldn’t take care of Iran because China and Russia caught on to the game. WE ARE NO LONGER IN CONTROL. Mostly because retards like you post your flag in your yard and claim to be a patriot. Funny how that rhymes with IDIOT!

            Osama Bin Laden was a STRAW MAN you fool! The War on Terror was the beginning of the end of our power. Met with thunderous applause. Great job lame brain.
            I hope your dumb ass is prepared.

  • mondobeyondo

    When (not if) the dollar crashes, our American way of life will crash along with it. There’s little doubt about that, but few people in this country are willing to see it or admit it.

    Our mindset is, “As it was before, and is today, so shall it ever be”. I hate to say it, but that’s wrong. That attitude is called arrogance, and it has led to many an empire’s fall. It really looks like the USA is next in line.

    The prosperity and financial priviledges we’ve had are mainly due to the dollar being the world’s reserve currency. The reason the Federal Reserve can print oodles of money, and our federal debt is allowed to explode, is because the dollar is the world’s reserve currency. Debt? What debt? Keep the presses rolling, we’ll print our way out of debt. Oh yeah?

    It will not last forever. Whatever the next world’s reserve currency is – that nation or nations will be calling the shots. They’ll be the ones cranking out those oodles of euros, or yuan, or pounds, pesos or Zimbabwe dollars. We won’t be the ones printing endless dollars. Why? Because then, we’ll be answering to a different authority. The one(s) with the new world reserve currency. But our debts will still be there…

    Overnight, our smugness and arrogance will evaporate. But it’s all good. Just keep waving the flag, and singing “America The Beautiful”. And click your sandals three times, and say “There’s no place like home”.

    • Gary3

      I’m not sure the world even needs a “reserve c urrency. If China wants to buy and only has RMB while you want Euros, then they will have to find Euros or have something yoy want to trade for.

      • Rhynn

        The problem with that is how hard it is to agree on an intrinsic value for everything. What’s worth your car to one person is worth half a hay bale to someone else. How does the entire world meet in the middle without any standards?

    • Save the Republic

      Pain is coming. Lindsey Williams says “the elite” (TPTB) stated that the dollar will be dead (not gone, but virtually valueless) by the end of the year. It certainly looks like we’re on track for that. Get rid of your dollars now and get tangible assets before your stuck with them and they’re worthless.

      Once the dollar is no longer the reserve currency, other countries can dictate to us what they desire for us to purchase goods from them. They more than likely won’t want the dollar at all, and considering we don’t produce anything to sell them to acquire some of their currency to use to purchase from them, where do you think we are going to get all of our necessities from? What happens when we need oil, and they ask for gold, and we have none? Or they want other currencies, and we have none (since we are constantly running deficits, we really can’t have much of their currencies, or else we could pay our bill)? What happens when we need the things we’ve allowed China to sell us that we used to produce, and they say they want payment in gold, rnb, or euros? If we don’t have those things, and we can’t sell anything to acquire those things to give in exchange, how will we get what we need? Our free trade loving political treasonists have made no provision for this scenario, which is coming.

    • DownWithLibs

      I can’t help but feel that the U.N. will be the next Big Dog Gov. I just have this dreaded feeling.

  • mondobeyondo

    And you think gas prices are high now??

    Hehehehe hee hee hoo hoo.

  • Antonio Gonzalez

    Dollar kaput. Free lunch kaput. End the american way.
    Why need the free lunch, americans can work like others
    countries……….. Ah, but the rich need more every day.

  • El Pollo de Oro

    Gerald Celente has been predicting that there will be a bank holiday in this country (much like the one they had in Argentina) followed by a formal devaluing of the U.S. dollar. And that will be very bad news for millions of folks in The Banana Republic of America (formerly Gli Stati Uniti). Much of the BRA’s middle class has already been killed off, and the bank holiday/U.S. dollar devaluation nightmare will cause even more Americans to become the neo-poor. It won’t be pretty.

    As for #10……yes, the BRA’s image has suffered considerably, no doubt about it. No one likes a bully, and when the neocon imperialist Bush regime lied the BRA into the Iraq War and tried to bully the rest of the developed world into supporting that act of imperialism, it didn’t go over well. The Iraq War was every bit as disastrous a foreign policy blunder as Justin Raimondo (antiwar.com), Ron Paul, Alex Jones, Gary Johnson and other libertarians said it would be. The BRA has become a pariah nation.

    And let’s not be fooled into thinking that the Democrap wing of the War Party will save the BRA from its nightmarish downfall. Empires are not sustainable. Imperialism is a recipe for sky-high deficits and financial ruin.

    Our anemic currency will only grow more anemic when the BRA goes to war with Iran, which will be our next major foreign-policy blunder and will cost a fortune. That blunder will occur whether we get four more years of Barack “Goldman Sachs” Obama or four years of Mitt “Wall Street” Romney. Either way, we are screwed.

    God help The Banana Republic of America, collapsing empire of the Third World.

    • Gary3

      While it could happen, USA has a looong way to fall to achieve third world status. Sounds like jelousy and wishful thinking. I suspect that as that were happening, parts of USA would flee the sinking ship al a USSR.

      • Save the Republic

        You are being way too arrogant. Last time gas hit $4/gal, the American economy was brought to its knees, and that was when everyone thought things were ‘good’ in this country. We’re pushing hard in that direction at this very minute, except this time we have a stagnant, weak economy. With real un- and under-employment in excess of 20%, 45 million on food stamps, foreclosures still going strong with 10-year low housing prices, and many of those employed not receiving increases while basic living expenses go up due to inflation at least 5-10%. Maybe you are one of the minority whose job wasn’t affected last time up until now, but don’t feel so comfortable. The odds are likely that you won’t escape enscathed this time, and if you’re unprepared, you are even more likely to be totally wiped out. Even if you’re sitting on a pile of money, if it’s dollars, you will still be rocked if we hit hyperinflation.

        • El Pollo de Oro

          Save the Republic: You’re absolutely right about The Banana Republic of America’s real unemployment rate being over 20%. Economist John Williams (Shadow Statistics) has been pointing out that the government’s unemployment rate of 8.3% is bogus because when you take into account all of the unemployed Americans who have fallen off the government’s radar, the reality becomes unemployment higher than 20%. And in African-American neighborhoods, it’s even worse.

          The BRA is in serious trouble.

      • El Pollo de Oro

        Gary3: Do I think The Banana Republic of America is as bad off as Sub-Saharan Africa? No, but the BRA is definitely moving in the direction of Latin America and the Caribbean economically. I don’t see this country becoming Ethiopia poor, but I definitely see it becoming Guatemala/Jamaica/El Salvador/Honduras poor. And the financial hell so many Americans have been suffering since 2008 is only the tip of the iceberg. The worst is yet to come.

  • El Pollo de Oro

    “When all else fails, they take you to war.”—Gerald Celente

    Yes, politicians certainly do. Imperialist war with Iran will be sold as the magic bullet that will save the U.S. dollar, rescue the American middle class, revitalize the BRA’s mess of an economy and make the BRA prosperous once again. The neocon jackasses at the National Review and the Weekly Standard will beat the war drums; so will Hillary “Bombs Away” Clinton and other Democraps. But there will be no economic miracle for The Banana Republic of America and its sick, ever-weakening currency—only a grim future as a Third World hellhole.

    • Rhynn

      You’ve got it – nice to hear especially that some people in this country realize as I do that there has been no bipartisan system in this country since the Civil War. Just one or the other custom made puppet that can sell the BS the puppeteer needs sold. It’s why if Palin weren’t so tragically dumb, she could have, as a woman, been the next harbinger of bogus “change”. The next “groundbreaking historical” puppet.

      Of course, there’s still time for Hillary.

      The only thing I’d disagree with at this point is the focus being on the politicians as the warmongers. They don’t get there without warmongering spoiled and arrogant citizens putting them there. People so arrogant they’ll tell you to your face in public that they refuse to talk about politics because “it bums them out”. Like whatever happens, it will sure enough happen to someone else that they need not even waste time discussing it. Then everyone whines about being lied to later.

      That circle only gets to happen once or twice in a row before the problem is not the circle, it’s the people who are running around it.

      • El Pollo de Oro

        Rhynn: The late Irv Homer (a Libertarian talk show host here in Philadelphia) used to say that he would rather vote for a third party candidate and lose than vote for something he doesn’t want (a Democrap or Republikkkan) and get it. But the American sheeple (or as Homer used to say, “Boobus America”) have been duped into believing that the two-party system can save this country from its tragic downfall. And when the politicians they vote into office send their kids off to die in an imperialist war in Iran, they will run around like idiots shouting “U-S-A! U-S-A!” and waving their dollar-store flags (the ones that are manufactured in Communist China).

        • Rhynn

          LOL. You mean the flags they now get fined $1000 a day for flying in front of their own private property?

          Honestly I think most of these people are so dumb they actually couldn’t pass the entrance exams to get INTO a bag of hammers. Neutralizing them really is a simple for the so-called “Elite” as coating a dog’s tongue with peanut butter. And while they sit there cross-eyed and trying to swallow, thieves stroll right by the doghouse at their leisure.

          Manufactured excuses to blame and/or feel superior to each other will be the downfall of this country. Simply a bunch of idiots who will not get out of their own mirror long enough to realize that the house holding the mirror up is burning to the ground.

  • liberranter

    The supremacy of the U.S. dollar is not nearly as solid as most Americans believe that it is.

    Any American who really believes that the U.S. dollar is “solid” doesn’t deserve to be part of an adult conversation.

    #6 Iran
    Iran has been one of the most aggressive nations when it comes to moving away from the U.S. dollar in international trade. For example, it has been reported that India will begin to use gold to buy oil from Iran.

    This, not “nuclear weapons,” is the real reason for the Federal Reserve/*********-driven belligerence against Iran.

    Global sentiment toward the United States has dramatically shifted, and this should not be underestimated.
    Decades ago, we were one of the most loved nations on earth.
    Now we are one of the most hated.

    We ain’t seen nothin’ yet. The only real question remaining is when the Rest of the World will finally decide that it’s had enough of Amerikan Imperial bullshit and unite to shut our operation down. A “war” against Iran, assuming that the Amerikan imperial powers that be are really stupid enough to start one, make a reasonable tipping point.

    • James

      It’s both, really.

      Remember, we’re the Big Satan and Israel is the Little Satan, so anything Iran can do to get rid of both of us they will do.

      Moving away from the dollar and building up nukes are both in their interests… either one could give them a good opportunity to take us out of the picture.

      Think of it, they (along with others) manage to collapse the dollar completely and send the U.S. into a panic. Then they manage something of a final strike (a nuke on Wall-Street would do it – don’t get me wrong, I’m not a fan and they need to go, but it has to be a controlled removal to prevent systemic shock).

      I get the feeling Iran’s aiming to one-two us.

      • Rhynn

        Iran actually doesn’t need a nuke to deal with Western ingrates.

        China is doing the job quite nicely pulling their strategy out of thousands of years of learning about how to deal with enemies. The same stuff Americans would understand if anybody besides Gordon Gecko had read The Art of War and discussed it with even one other guy or girl.

        They won’t need to fire a shot in anger against America or Israel. They will collapse from within. Make themselves irrelevant. Americans have this ridiculous misconception about how much the world needs America. It doesn’t. All America offers the world is war, and consumerism. It produces nothing. Contributes nothing. When the petrodollars are dealt with, and the true value of goods and services are evaluated according to something more substantial than some trumped up assumption of American value, citizens of those other countries will reap the rewards of their own labor by being able to participate on both ends of the production-consumption seesaw. When that happens, American consumers will be expendable – as if they are not almost there already, what with their inability to make livings and continue buying.

        Americans seem to think that China, having over 1/4 of the world’s population, cannot replace the consumerism of 300 million Americans. Wrong. The Chinese culture is not a culture of excess. They are savers. Hoarders. Not spenders. They are not rivaling US spending because they won’t. Not because they can’t. And besides, it is too easy to blow up American wallets. But that money is going to China, rare earth minerals required for tech are cornered nearly by China, and now oil power is working to shift itself to Sino-Arab control. Who needs broke Americans soon to be unable to do anything but point at their own open mouths?

  • Newton

    So; when will anything occur ?

    Truly; time will tell

    Change; ain’t it a real bitch ?

  • Gay Veteran

    hopefully it will be the end of our empire

    • Rodster

      You know I don’t want to see it end but it will because the Country has been run as if it’s an Empire and not a business.

      You can’t keep expanding along with spending and giving away stuff you can’t afford. Because when you do you end up with a population made of of Gary2’s. :)

      • gary

        Rodster—Right on. Gary2 calling for Tax The Rich while holding a tin cup in his hand. Its all good when its free.

    • Syrin

      Hopefully you will pack your bags and move to Saudi Arabia, ********************.

    • knightowl77

      really? and then what? Do you think the world will be a kinder gentler place with China in charge? Or Russia?

      Really GV what kind of world do you envision after “our end”? Seriously you sound like you seek a new Master and expect an improvement…

      • Gay Veteran

        time to face reality, empire is bankrupting this country (economically and morally)

      • DownWithLibs

        Exactly. I have been saying that all along. Let the worlds oppressed run to China or Russia if they get into trouble. We should start directing them away from us now and let them see what a world without the U.S. would look like. Careful what you wish for!!!!!!!

    • J

      Yeah, and the islamists or Chinese who take over will take care of your “gay” a$$.

      • Gay Veteran

        ooooooooo, the islamists

        so tired of people who wet their pants when the government uses “terrorism” to frighten them into giving away their rights

      • Rhynn

        Sort of like the “Christians” have been doing for ages? LOL.

  • michelle

    You’re scaring me. Stop.

    Nothing to see here, everything is fine, move along now…

    • mondobeyondo

      These are not the dollars you’re looking for….

      • James

        They’re for sale, if you want them.

        • DownWithLibs

          Sale…don’t they grow on trees for all to partake of freely?

  • PatriotOne

    We are so stupid. We give aid to 150 of the 192 countries on this planet, if you don’t trade in dollars no aid. If you undermine America no aid.

    Personally I think the US should get out of the UN and the UN should get out of the US. Lybia, Egypt, Iraq or Saudi Arabia would be a good location for the UN.

    So goes America, so goes the world. By screwing us they are screwing themselves by proxy.

    • John W.

      The Chinese are already stepping in and taking over our aid role. Using our money that we have been dumping on them. Soon we will be like the old Soviet Union. A Third World nation with nukes, and soon Obummer will even get rid of them. Besides a nation that does not even care about it’s borders is not a nation anyway.

    • Godfrequency

      That’s not aid, it’s bribes!

      Why do you think the Fed, lent spent or borrowed over 16 TRILLION dollars over the last four or five years?

      ppssssst. hey, if you stay with our currency just a little longer, we’ll give you some of it while it has value!

      bribes. We’ve been bribing foreign countries with fiat money to stay with the fiat money.

    • Nexus789

      Typical response of the unknowing and unaware and stupid US is a victim argue is purile. The ‘screwing’ as you put has been all from the US. Aid as a proxy for American ‘good will’ is a joke.

      The US has leveraged its dollar hegemony over many decades to get access to raw materials on the cheap…that is the value of being the defacto reserve currency. The trouble is that it has been abused and is it is obvious to the rest of the world that is was the modus operandi of the US administration.

      There will come a great readjustment and living standards in the US will plummet as the dollar collapses.

  • Deborah

    Thanks, Michael. I was waiting for the news all weekend but in the interim discovered Gerald Celente. What a genius and he is local to me. It is time for people to figure out their “getaway” plan.

  • Nick

    I think World War III will be the ultimate outcome here. The people in power will not want to have to actually explain this to the American people.

    While your website, along with many others, does an excellent job presenting information like this, most Americans have no idea what “reserve currency” even means; finance isn’t even a basic course in high school, from what I’ve seen. And, even in many of my finance classes in college, we didn’t discuss the USD as a reserve currency or the Petrodollar system.

    The status quo is taken for granted. Well, the Pound Sterling was the previous reserve currency. Spain had the privilege at one time too. The Roman Empire held reserve status in a way too.

    Anyway, the people in power will go to war. That will give them a scapegoat for runaway inflation (caused by oil prices) and justification for instituting martial law and rationing.

    An all-out world war would have to involve nuclear weapons, though, so most of us probably won’t be here to have to deal with this anyway.

    In my view, the survivors will be the unlucky ones. They will envy the dead.

  • Kevin2

    From my observation several dots just don’t line up.

    1. The UN and IMF both tools of the globalists are pushing for a currency to replace the USD in world markets fully understanding the implications for the US economy.

    2. The globalists need the US Military to be their enforcement arm. Without it of a suitable replacement their “Power” has no muscle to back it up.

    3. Why would they support #1 when it would potentially castrate #2?

    The only reason I can think of to make sense of 1,2 and 3 is a replacement is planned for the US Military. I assume it would be a military force (with a large US participation) funded and controlled globally. This would have to come into effect prior to the loss of Reserve Currency Status of the USD.
    3.

    • Rhynn

      You evidently didn’t hear the uproar a couple of weeks back when the head of the US armed forces basically sat there and told Congress that the US military moves by UN mandate with or without authorization from the US Constitution.

      This is already well on its way to going down. Bankers sit at the head of World Bank and IMF already. Obama’s entire cabinet that is concerned with financial affairs is made up of banksters from Goldman Sachs, and they move to the marching order of the Brookings Institute among others, who are made up of more corporate banksters.

      The goal is the destruction of the US republic. The #1 enemy of global rule is the sovereign nation. This is why each of the sovereign nations in the Middle East that existed without a puppet regime in place, had resources to take, and was actively attempting to cut all ties to the petrodollar has been attacked, with the exception of Syria and Iran, who are next on the list. It has nothing to do with humanitarian aid. And you can see that the military is already globalized because they attacked Libya in full violation of the War Powers Act citing international authority.

      • Kevin2

        Rhynn

        I watched Senator Jeff Sessons question Leon Panetta.

        My point is the US Military is very expensive to maintain and without a US economy there is no US Military. I fully understand the US Military is a tool of Corporate / Globalist interests and is their enforcement arm.

        My question is if the US economy goes into a tailspin prior to some other funding of the Military it goes down too. The globalists are left with no “Bully Boy For Wall Street” as the Fighting Quaker aptly put it.

  • Bone idle
  • John

    Excellent read & spot on. I will send it on.

  • Paranoid

    You just don’t get it. There is no gain to being the world reserve currency if you don’t abuse it. What we have really done is buy the big half of the worlds non renewable resources for the most renewable thing on earth Computer blips. The rest of the world is just starting to figure this out. Assuming peak oil was 2005 we have managed to buy billions of barrels of irreplaceable oil for paper, likewise : Gold, Silver And all he rest, Meanwhile back at the ranch we have kept as much as we can shut in due to environmental issues, This is know as eat yours save mine. YES.

  • http://www,Back2theLand.com Old Timer

    If the US dollar becomes LESS valued that will not make China and the EURO stronger – it will make them weaker as they depend upon debt and related interest.Although this may transpire it will be a gradual process – years perhaps.

    Our threat is creating employment and subsequent tax basis to build upon.Consider what we have accomplished: From the Civil War we had the Gattling gun and in 75 years we had the atomic bomb.Progress is measured in war and resource exploitation.

    Dr. Payne has a point though with inflation at home. What you and I can do is provide the basics now in the purchasing of what you will need in the future when you can not then afford it.

    Always remember the working person is not the elite, the twain shall never meet.
    OT

  • Horhey

    #10, I think much of the world relates policy with the population, like how many Americans hate the Iranians. The population really isn’t to blame because a great fold of the American population hates the ones making policy. The ones making policy understands this all to well, enough to make vacation facilities for the dissidents. Most Americans see through a narrow looking glass, not their fault, only outlet is fox, msnbc, CNN, ect. Most people don’t have the time to become aware of the what’s goings on. Even this blog takes an emense amount of time to research just this subject (which is very appreciated), so some slack is needed. The new American real problem is they are very apathetic and too involved in their own problems to make real changes. This system of things have placed chains on them and removing them is more of a burden then a advantage. Debt is their heroin. An addiction that can’t be easily broken. There could be recovery, but a choice is preferred to stay, even when they have been shown the truth. Media indoctrination keep you asleep, when it happens, it will be to late to wake up. Farewell to the dollar, something will replace it, but what? 1’s and 0’s, the only way to monitor the flow to and fro. And able to tax instantly. 1984? Heck, this is 2014. Orwell was off…..

    • Gary3

      Americans, like all other people, will wake up when the alarm is too loud to ignore. This has all happened before.

  • Steve

    Don’t worry!
    If the economy goes bad politions will still have a safe pentions. They will honor those before ours.
    And they can more to other countries with all our benifits.

  • mondobeyondo

    The dollar is already tanking. Here’s a case in point:

    I walked to the nearby Jack In The Box restaurant yesterday. Got a Bacon Ultimate Cheeseburger (I know. Yummy, huh?)

    Here’s the break-down on the receipt:
    —————-

    Jack In The Box
    Carry Out

    1 Bacn Ult Csbgr….. $5.69
    Tax……………….$0.63
    Total……………..$6.22
    Cash………………$7.00
    Change…………….$0.78
    —————-

    That’s it. One Bacon Ultimate Cheeseburger.
    No fries. No Coke. No combo meal. No apple pie.
    No Happy Meal. (That’s McDonald’s, not Burger King.)

    I walked out of the place incredulous. Couldn’t believe I just spent nearly 6 dollars and 25 cents for two pieces of beef, covered with cheese, bacon and two buns.
    Just the sandwich.

    Back in 1982, I probably could have gotten a Bacon Ultimate Cheeseburger for under a dollar, if Bacon Ultimate Cheeseburgers existed back then (they didn’t). But Jumbo Jacks definitely did.

    Should have gotten a Jumbo Jack combo. Ugh! I haven’t banged my head this hard since that Nirvana concert back in ’93.

    • Michael

      I have to say that I have never cared much for Jack in the Box food.

      I prefer McDonalds, but I only go there a few times a year because it is so unhealthy. :)

      Michael

      • Rodster

        I still crave Jack in the Box tacos, mmmm yummie. :)

      • Kelby

        Speaking of McDonalds…

        Michael, have you seen the documentary “Super Size Me”? Oh man, the things fast food restaurants put in their food!!! Dx

        • Michael

          Yes I have seen it.

          And I agree with the documentary.

          But a few times a year I still have a quarter pounder with cheese. :)

          Michael

  • http://www.economyincrisis.org American

    Who would have thought back in 1995 when the U.S. scrapped the ITO for the WTO that the result would be a hollowing out of America’s jobs, capital investment, and innovation to foreign countries in the measure that’s occurred while U.S. businesses pass over American workers to insource foreign workers in as grate of numbers as they possibly can and that we would lose control of international trade which we had from WWII to 1995 under the ITO.

    It doesn’t get better folks. It only gets worse from here on down unless the people wake up and smarten up fast.

  • Michael

    Michael,

    I enjoy your articles but have to disagree with your statement that there is huge demand for our debt.

    This table from the Treasury’s website shows that China, our biggest creditor, only bought 5 billion in debt from 2/11 – 1/12. Japan bought 189 bil., oil exporters 40 bil., and the UK sold 154 bil.

    In all, 581 bil. was bought, but our deficit was 1.4 trillion. I’m guessing the rest was monetized by the Fed.

    I’m curious how much of the 221 bil. February monthly deficit was also monetized by the Fed….Guess we’ll have to wait for the new data.

    http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt

    • McKinley Morganfield

      Yep, Uncle Ben has been buying T-bonds (along with mortgages) and propping up Tiny Tim as he tip toes through the tulips.

  • Alasha

    The rug is being pulled out from under us to quote Alan Watt from an Alex Jones documentary.

    side note: the editing program you use gives me a message – “duplicate comments made” and will not let me post at times. Sometimes, I want to use a duplicate comment such as LOL to differ comments, Michael and sometimes I get it when typing a message and it is not a duplicate comment. I wonder if this has happened to anyone else.

    Anywho – excellent job as usual and God Bless

    • Michael

      Alasha:

      Sorry about that. Unfortunately my tech knowledge is limited and my ability to make changes to the comments section is also limited.

      I think the comments section works pretty well most of the time, but once in a while you will run into a bug or two.

      I thank all of you for your patience and for always leaving such great comments.

      Michael

  • BladeMcCool

    Thank goodness we have Bitcoin. Can’t inflate that (there will only ever be 21 million bitcoins). No fees and as anonymous as you want it to be. Fun times in crypto-anarchy land. :)

  • T

    “Most of the rest of the world hates the u.s.” I remember when I was a hard core neo-con and how mad I got when I heard that. “America gives more than all countries combined to aid.” Maybe it’s true but america has spent a hell of a lot more on endless wars resulting in to many to count deaths of our own and civilians. I don’t know how the world goes about changing world reserve status but we deserve it. America is great for the elite 1% but I’m having trouble having money for gas and food. I’m unemployed and apparently unhirable because I have a few misdemeanors. Well it’s not my world, bernakes world or anyone elses world. It’s Gods world and having faith that he has my back if I do the next right thing is good enough for me and I have no worries or fears.

  • Jon

    The thing that scares me most, is how few people even realize what’s happening. They are too concerned with American Idol and there sports.
    I wonder what companies in the US will do and how they’re employees will react when this all comes down?
    The state will become fascist as the American people become the enemy. Note that the Swiss have become an almost cashless society. Meaning you won’t have to have a chip to be controlled, they can just cut off your credit.
    Vote for Ron Paul, voting for anyone else is just the status quo.

    • http://www.countryconsultant.com/blogspot/ Dene B.

      You are absolutely right, Jon. Heads in the sand.. losing liberty by the day.

  • Paul

    I see another trend: China is opening up its currency market.

    Up to now the Yuan is not freely tradable. Only with a few countries China made agreements to trade in Yuan. If you live in China you need to make an application if you want to exchange your Yuan into a foreign currency.

  • Paul

    Americans like to tell other people what is good for them, with a gun in your face. Is it any wonder people don’t like them?

    A friend of mine had a highly paid job in America. When the school started to interfere in the upbringing of his children and the media reported on handcuffed toddlers taken by police from American Kindergartens for playing doctor, he went to Europe for work, where there is much more freedom.

  • pete

    It will all be part of the fixing and healing process.

    Most of us would agree that we (US) have become a less than desirable place for a variety of reasons.

    When the dust clears, we’ll be better off……sadly there will be many less of us to see it….and “better off” is subject to interpretation.

  • Marco

    The rest of the world does not hate real Americans (ie; White, tough, conservative), we hate the whining new welfare Americans,blacks and Mexicans are not real Americans, neither are liberal whites.

    • Rhynn

      You don’t think this actually worked do you?

      The rest of the world hates the Americans who drop the bombs, betray all hands they shake, and walk around like they think they’re gods.

      The people you claim everyone hates ARE the people of the world. The world is reflected in every one of their faces. Which is why your so-called “real Americans” have been hating them since the founding of the country.

      There haven’t been actual “real Americans” since your ilk showed up, stole their lands for beads and poxed blankets, and herded them into the concentration camps you like to call “reservations”.

      You keep muttering your version back to yourself from the fetal though. Perhaps your government will be nice enough at the end to chisel it into your forehead under your serial number. Like a slogan.

      • Sarah

        Rhynn, it can be frustrating, knowing that half of my own fellow countrymen/women think the same way “Marco” does. It’s what happens when the populace is raised on pharmaceuticals, antidepressants, nutritionally-absent food-like substances, debt, and propaganda TV.

        We keep ‘em fat, unhappy, sick, poor/broke/indebted, and ignorant as all get out, here in the US.

        “Fat, drunk, and stupid is no way to go through life, son.” -Dean Wormer, Animal House

        http://www.youtube.com/watch?v=u1hnwvWhbJw

        • Rhynn

          I agree that it’s pretty embarrassing that these anachronisms still exist. It really makes roaches look bad however, since they lose the status that came with being the Longest Surviving Organisms Ever to Appear Comically Ill Equipped For Survival.

          Although those things you mention make it easier to turn personal failure into a thrill a minute fun-ride, I don’t blame any of that for the failure of the American public. I blame the American public, which has embraced stupidity so wholeheartedly that they equate critical thinking skills and the pursuit of historical awareness acts of treason. It’s how a government can now use flag terrorism full in the face of its citizenry where even 10 years ago it had to make at least some attempt to obfuscate. Why hide when they people you hide from will pelt any of their own who try to open their eyes with violence? And when the only thing stopping them from doing so is you?!

  • David Reeds

    AIPAC with all its dual citizens is the main destroyer of the US as a nation. The US has become a gangster run Empire by means of AIPAC and its foreign based branches. Washington is run by a few aggressive and selfish individuals from Jerusalem by means of their agent organization AIPAC. America needs an Egyptian and Tunisian style real revolution.

  • mark

    This is the problem with using paper money. The powerful that control the presses always end up abusing this power. If the world trusts China’s paper money more than the dollar, well that would be crazy. They have printed more than Uncle Ben. When it comes to money, absolute power corrupts when you can sit at a computer and add numbers to balance sheets to prop them up.

  • Barn Cat

    When other countries dump their dollars we’ll see hyperinflation in the US. It’s estimated that 90% of all the dollars in existence are held outside the US. So, in effect, we’ll see prices go up 10 fold in a very short time. What’s left of the economy will be destroyed in a short time. People won’t be able to afford a $50 McDonalds meal or $40 a gallon gas or a $20 loaf of bread. America will become a third-world country very quickly.

    • M. Hapney

      Ding Ding Ding we have a winner. You nailed it Barn Cat.

      Get out of anything paper-related. Acquire things instead of slips of paper or digits on a computer (inc IRAs).

      Any excess paper savings should be converted to physical silver. That is after all the other bases are covered.

  • MountainHome

    Just another great article by theeconomiccollapseblog. Thanks for keeping the real news available to the people.

    Unlike one of the above comments, I am not ashamed to be an American. The average American, like the average person in every country is a good person and have the same daily issues. It’s the corruption of the elite that hurt all of us.

  • Donald Wilson

    Dec 21 2012 lastest rumor collapse of the dollar. Good luck.

  • Gary2

    This conservative crap is the cause of our problems. Well said from Sen Bernie Sanders.

    At a time when the top 400 individuals own more wealth than the bottom 150 million Americans, and with the U.S. having the most unequal distribution of wealth and income of any major country, are they really talking about giving MORE tax breaks to the rich? With corporate profits exploding and, as a result of massive tax loopholes, many profitable corporations now paying NOTHING in federal income taxes, do they really want to LOWER corporate tax rates?

    Stupid ************** MF! How can anyone ever vote conservative???

    • James

      Ya know, if you had actual conservatism with a small government it would be nearly impossible for these super-rich to get super-rich without actually busting ass and earning it.

      Socialism will work no better than this twisted form of capitalism we have now.

  • Austrian economist

    so let’s assume that the dollar drops to 1/10 of it’s current value and gold is trading at 17k / ounce.

    yes, it would cost you 400 bucks to fill up your tank, but the country as a whole would be very competitive in the global market. all those industries from china that got outsourced over the last 3 decades would rapidly be coming back, because it’s cheaper again, to manufacture tvs, cell phones, computers and other household appliances back here in the good ole’ usa. by dropping the usd the rest of the world would shoot themselves in the foot. we have all necessary manpower and supplies – the only thing we really need is oil – which we don’t really need because we could use our own (that is currently politically / environmentally not wanted). and by the way – i wonder if they had the same thoughts about horse food 200 years ago – how do we plant enough food, where do we plant all that – well, it all became obsolete because of the technical progress. $400 wti would encourage alternative forms of energy very quick – this is call free market economics and the law of supply and demand – if there is a very high price level, the supply increases massively (if the government doesn’t intervene, under true free market conditions) – either way – we will win! :-)

    • James

      No.

      Having gas shut spike to $400/gal, or even $10-15/gallon would instantly shock and stop the entire economy.

      It takes an immense amount of energy to build the infrastructure base required for the level of manufacturing we’d need to become self-sufficient again, and we wouldn’t have the supplies to put our disassembled and crumbling infrastructure back together anytime before we’re irreparably harmed.

      It would take decades to recover, if we ever did.

      • Save the Republic

        Absolutely agree. All of the old manufacturing facilities are crumbling. We can’t just go in and turn the power back on and start producing. Much investment will be needed to refurbish or construct new facilities.

        • Rhynn

          Guy obviously hasn’t seen recent pics of Detroit.

  • Nancy

    None of this is a surprise to me. I’ve been following the “Globalists” mind games for years now. What does surprise me is that it’s taken so long. Then again, it’s all God’s timing. I try not to worry, because it doesn’t do any good anyway, and try to prepare my family and myself as best as I can.

  • http://TheEconomicCollapse Dave in OK

    Just imagine what will happen in the United States should the price of petrol be doubled? We are having problems with our present price. Presently corporations and private individuals are robbing Peter to pay Paul to make ends meet and keep the system going. This is definitely the calm before the storm. Are you preparing?

  • PatHenry2012

    Gas prices will continue to climb, with orwithout Pres O-No. My suggestion is to keep preparing for some very dark days ahead

    Survival gear
    Camping gear
    Camping equipment
    Ammunition
    Survival food supply
    Outdoor survival gear
    Survival supplies
    Prepping

    http://www.patriotprovisions.com

  • PAUL LEO FASO

    Just great, the item plus all the comments = no solution to the problem.

    Follow the link and get all the money back they have looted;

    http://www.zerohedge.com/print/365866

    What does it take, another 26 trillion out the door?

    • mr.grey

      here! here!

      i have some ************.

  • STOP THE MADDNESS

    I don’t think anyone on here knows just how bad the economy really is!
    Watch this informative video on how you can survive in this BAD economy
    http://www.youtube.com/watch?v=pzsErLOip-Y&feature=related

  • William

    The coming collapse of the USD and the following even further drop in the standard of living in America is not by accident. This has all been orchestrated by the Illuminati since the days of Adam Weishaupt. Wilson was blackmailed into signing the legislation that created the FED. America’s entry into WWI was intended to ensure Germany, and her Ottoman ally were defeated so that the Russian and Eastern European Ashkenazi could steal Palestine. WWII was orchestrated by the Illuminati playing both ends of the conflict.
    Essentially all of “history” taught/learned here in America is bogus. From the Balkan nightmare of the 1990s to the recognition of the Kosovar drug runners to the takedown of Iraq and Lybia and now the targeting of Syria and Iran, it is all a scam. Read all you can by Makow and Springmeier.
    By the way, did you know Eisenhower caused the deaths of over a MILLION Germans after WWII by denying them food and shelter?? Think the death of Patton is explained by the “official” US Army version?? It is all a con game run out of the City of London. This is why the US Congress quivers in fear, and shock and awe.

    • CantStandIt NoMo

      Wow, William… so I guess you feel everything is going as planned by the “Illuminati” or perhaps a bit behind schedule? I just wondered if you had any thoughts about what we should do about it, and when the collapse will take place. Some of your remarks intrigue me such as “Wilson was blackmailed” and the “Patton” lie. I’d like to exchange emails. Respond back with an OK and I will publish my contact to which you can send to. By the way, this is a great article and the comments are a small but significant light of hope.

  • MILE

    and when gold is the realm of coin, neo crime bosses will be trying to pass it like a stick of pot……same power hungry money grubbing neo one percenter elite.bankrupting the country…….

  • Steve

    “#10 Most Of The Rest Of The World Hates The United States”
    I think, this last point is not true.
    For example most Europeans distinguish between the imperialist US foreign policies, which they hate, the US government which they abominate and the average US citizens which they like, but also pity a bit and feel sorry for, as they are so stiffed by their government.

  • Degaz

    All empires must come to an end.

    All democracies eventually devolve into dictatorship.

    WW3 is baked in the cake. It will end as a stalemate and we will be witness to a worldwide communist state.

  • Grandpaspeaks

    And all of these problems are caused by dealing with just the interest on the debt. Has anyone spoken about paying off the Principal on the debt? Never happen, same as our future.

    • mondobeyondo

      Yaaayyy! Somewhere out there gets it!
      I’m going to award you a plastic medal! (Sorry, gold is way too expensive)

      We can’t pay the interest on the debt. How are we going to pay the principal?!! We are already flat broke.

      We just don’t know it. Or we do know it, and refuse to accept the reality.

      • mondobeyondo

        Oops. SOMEONE, not somewhere. My apologies.
        I goof up from time to time.

  • Didier

    As a French, I can assert to you, that American people are welcome in my country, and that American actors, singers and writers are always on the top. It’s true, “W” is seen like a brutal and antipathic character, but government is government and people are people. You must know too that there are more and more Muslims in Europe and you must not confuse them with autochton Europeans.

  • http://www.madscientistclub.com Frank John Holmquist

    For decades economic warfare against the USA has been pursued by Iran since the fall of the Shaw and North Korea. They print more American Money than the USA. Any other country would have gone to war over other countries making counterfit dollars. Why do you think that the paper money and the coins have gone thru so many changes in recent years. Read “Unrestricted Warfare” written by senior chinese military men. The Ugly American has been alive and well since WW2. The USA Has interferred in two world wars and for the third one to take place the USA has to be removed from the equasion. People forget that WWw was started when Russia and Germany, The Communists and Nazis divided eastern europe. THe USA has been divided between Russia and China and the ISlamic, just a matter of time when this becomes a reality. Joe Stalin was fond of saying: “Dosen’t matter who votes, only those who count those votes” With a computerized voting system, The computers do the voting for US. The Fix has been in for some time. Bill Gate’s father was supposed to be in favor of Eugenics, THis philosophy was also that of Hitler. Selective culling of the human herd will guarantee the “Master Race” and the servants. All others are “usless eaters”. No wonder that the “meek shall inherit the earth”. THe physical earth is being shaken apart by the super-gridding by gready men and natural forces from the Galactic plane combined. We are not prepared and the best plans of men and mice, the mice stand a better chance. Better to trust in the Creator of the Universe than one-self or human intellect. However the Divine states “Get prepared”.
    The planet and all its peoples belong to him…

  • Sarah

    Michael, speaking of currency wars, some compelling points of view that you may or may not have already seen:

    Jim Sinclair (http://www.jsmineset.com/) – he has much to say about the doings of our American elite, regarding Iran lately (shutting down of the SWIFT transfer system, et al.)

    You can see many of his interviews here also:
    http://kingworldnews.com/kingworldnews/Broadcast/Entries/2012/3/27_Jim_Sinclair.html

    There are several more excellent additional timely articles on the subject, also at King World News.

    Another great source is the new book Currency Wars, by Jim Rickards, which details exactly how we all got here. I highly recommend it.

  • erich

    La di da di da! Reserve currencies have only status value. The dollar represented the largest, strongest and soundest economy. Hence a flight to safety to treasuries and dollars in global chaos. US might is in relative decline and hence emerging blocks are challenging for status. It’s nothing more than that. A barrel of oil will still cost the same, whether priced in $, Euro or Yuan. It’s called FOREX. Get it?

  • Douglas Blythe

    The Globalists want America to fail, so that we have to use their new Global World Reserve Currency. Once they have that, they will have a Global Dictatorship. Soon after that they will institute Martial Law and begin to eliminate all non-essential people. This is coming soon I fear, perhaps even in the 2nd Obama administration (God Help Us!). Better get ready to “Cling to your Guns and your Bible” my friends.

  • sherrie starkschcha

    I only read the begining of this thread.
    I am an american, born here.
    I know we have been brainwashed throughout my fifty years, I see the fantasy the elite want us to believe. We do not elect our government.
    They are chosen and publisized in the media and we are the sheep being led along into not so green pastures. We need to wake up.
    I awoke a bit late, as soon as the stock market and housing crisis happened, I knew that we were not in control of our lives here. I am mad!

  • Scott

    “What if the appetite for U.S. dollars and U.S. debt dried up dramatically?”

    The FED is actually already buying up 61% of current U.S. debt, so demand from private investors has already dried up. High inflation is just around the corner.

  • Jorge

    Yea, America is so bad. Sending her sons to bail out Europe in WWI, WWII, Kosovo. Keeping Iran at bay, killing dictators like Sadam (who the Australian, UK etc. said had WMD’s), the Taliban and liberating people around the world. I hope one day the US does actually become insular and selfish like the feable Europe who can’t protect themselves. Then may the heroic China and Russia will step up to fill the void. Live long and toil losers!

  • Trailoftears

    I know things are bad BUT! America falls, you ALL FALL! How soon we forget, that NO One, I mean No One has done more for this pathetic world then the U.S. of America! Who Russia, Iran, Africa? No, No China, with all their cheap junk the export. When some country is in trouble, they look to AMERICA. Yes we have problems, debt and some decline. But for a nation that is less than 300 yrs old that has shed blood for almost every nation. You’re counting us out a little too soon. Do we have problems? You bet we do. Have we made mistakes? Dam right! I was not born when it happened, but I know the story of the last time the SLEEPING GIANT WAS AWAKENED. And the next time the world needs to dial 911! Let’s see Chine, Russia, Africa, Saudi Arabia, France, Greece, Mexico, Japan, Iraq, Israel and any other country come to the rescue?

    • Cobiecat

      Trail, you make some good points and we have been one of the most generous and benevolent nations in history, but I have to ask myself this question, does this debt matter? A recent Wall Street Journal article indicates that the fed is buying 61 percent of treasury debt, this is an emergency and this is why the fed will do all possible to keep rates low. But, the fact remains that when the market (which is bigger than the fed)loses confidence, and this is clearly happening we will experience great pain.. We can only help others from a position of strength, how can I financially help another if I am bankrupt myself??? History says that this debt matters.

    • Charlie

      The British empire thought it was truly indispensable, with a divine mandate. As did the Ottoman empire. And the Roman empire – which lasted for 1000 years or so. They’re gone, and the world is still here.

      The British empire considered the US a failed colony, lost to a group of men they considered terrorists. Ironically, the Romans had a similar view of Britannia at one point. Both shed a lot of blood. You see where I’m going with this?

      China has over one billion people who work harder than you, for less than you, with increasingly sophisticated hi-tech industries, and an increasingly educated and capable middle class. You’ve lived through a golden age, born in the right place at the right time. But in the long view of history, it’s an old story.

      • john porter

        maybe work harder and work for less but they also make cheap crap that falls apart china will fail too if america fails china fails along with everyone else

  • Zorro

    The best thing that can happen to the world economy will be voting Obama out of office at the next election in 2012 and it will happen because the public has discovered the truth.

  • Angela

    O WOW! The stories are almost at full circle. We were told but did not listen….. the message I received from a dream will come true!!! I will fight!

  • http://Yahoo Agustin

    If this was done by conspiracy or not. We are in a society that is loss.We have intellectuals that gain their knowlege from the wrong books and workers who have loss their faith in God and subtitude by the Government.For the rest of us that still have faith and listen to the right knowlege and haven’t loss hope, we can only try to educated the best we can others.And let them know that faith is the core of prosper and happiness and like good American we will go throught any obstacule on the way.

  • Bill

    Trailoftears…at no point during your rambling inchoerent response did you even mention anything that could remotely be taken as a rationale thought. We are all dumber for having listened to you say that. I award you no points and may God have mercy on your soul.

  • Marcus

    If you want the american economy to get in better shape, stop buying imported goods. You still have the most powerful domestic market in the world (believe it or not), so use it!

    Blaming the elite, stockpiling guns & ammo or reading the bible is the right for any induvidual in you country I’ve understood, but it won’t save your economy.

    Btw, some of the “communist countries in Europe” you refeering to has actually become quiet competitive the last 10-15 years. We just adjusted. Gasoline costs 8$/gallon and it does not break us.

    I don’t hate americans. I just expect more from you. And to be honest, I think you could be back on track within 10 years.

  • Alfred Bulaya

    this is that mark of the beast you hear shall be on earth to control all commerce and trade and religion…rev 13:17

  • A Special Report From The Examiner

    FBI: RAPES UP IN DC
    Washington Examiner: “Rapes in the District soared by nearly 20 percent in 2010, according to recently released FBI statistics. The FBI’s annual crime statistics show there were 184 rapes in D.C. in 2010, compared with 150 in 2009. “We are always concerned about crime,” police spokeswoman Gwendolyn Crump told The Washington Examiner in an email. “Although we cannot elaborate on our crime fighting efforts, we will continue to educate the community about sexual assaults and provide information about how to prevent becoming a victim.”

  • James Pringle

    God is in control. The United States has rejected God. We have taken Him out of our schools, out of our government and out our lives. He (God) is not happy with us. God will ensure that this nation will fall. We will become a third world nation. God has taken his blessings from us and lifted his vail of protection from us. We haven’t seen the worst of if yet. It is coming. Unless this nation repents and turns back God we are done.

  • Perry Spenner

    I agree with James. That is pretty much it in a nutshell!

  • http://www.construction-expert.com Paul Gogulski

    James,

    Except for then President Clinton and Vice President Gore, Mother Theresa received a standing ovation from both houses of Congress for her speech of Feb 3,1994 when she said: America’s biggest Problem is Aboration” and went on to say that she would take all of the 1,500,000 aborted children per year, “my sisters will find homes for all of them”. As usual, Congress listend, applauded….and did nothing.

    Agreed, this nation should repent and return to the God of our founders.

  • Joseph

    I agree that we have taken the active use of Gods statutes and laws out of our society and that is why the nation will collapse , see the film (keys to Good Government ) when we return to that form of Government ,then ,after a while with prayer God will return to us

  • Grant

    Those who believe in the Bible and the one only God, I say Amen.
    I have always look up for Americans who are always willing to help people in the world and lived by God’s word.
    But the US has gone deeply down since they have abandon the National Prayer and the teaching of the Gospel.
    Since then the US fundament has gone weaker and diluted with all kind of humanistic sentiment and psychology.

    Remember the time that each leading person needs a psychologist instead of God !
    Knowledge has a greater privilege over the Word of God.
    Fame and pride has greater privilege over Christian fundament.
    Israel has always been US anointing and now a curse.
    California, the riches state, now the most bankrupt state of the US, why?
    It export all the evil to the world, made in Hollywood, promote Sex, killing, cheating, homosexuality, aborting babies.

    I’ve never seen a country that has been hit by so much natural and human disaster.
    Only a total repentance can turn all those curses into a blessings.
    You don’t have to belief me, but on one God who came to earth called Jesus the Savior.
    Not Allah not Krisna nor Buddha. They are all dead as a termite.

    All those who immigrates to the US need to understand that they wish to improve their living standard by the Grace and Blessing upon a country of Hope & Glory by God of Abraham, Isaac, Jacob and all the 12 Disciples in the New Testament.
    They (including Obama) better respect this Fundament and if they don’t they are free to return to their land of Origin.
    2nd Generation immigrants should follow and adopt this new country fundament.
    Practice and celebration of their forefathers religion should be done outside the US or country of origin. Keep the US clean from sin.

    The US has enough good Christian leaders to get advice.
    Wish the US all the best into their future and recovery.

    • Kev

      Learn English dipshit. You go on an on attempting to sound so prophetic and annouted, but in reality you sound like an uneducated, mind controlled, and propaganda fed idiot. “God” is not real. He was created and drawn in “man’s” image to satisfy our need for bolstering our fragile egos.

  • andre esterhuysen

    This has got nothing to do with God.Yes, God loves America but God is not punishing America….It is China that wants America on its knees.Chinese do not believe in God.The Bible tells us about a yellow nation that will govern the world.

    • Stew

      Andre… The Bible does not say a yellow nation will rule the world. Nostradamus said it. Just clearing that up.

    • Sista

      Please cite the verse that says that in the bible…i guarantee you cant

    • Louis England

      The Simpsons??

  • http://www.montgomerycountymd.gov Leisure World In Need Of Improvement Financially

    Our staff and faculty here at the St. Lukes school and training center here in Bethesda, Maryland believes in our good christian president Obama being God and with that the world will improve. If you want to travel with us to the White House for the worship and praise of president Obama, call me at ********** for details. We believe in the good gospels of Obama and that he will be Lord and Savior of the world on October 21st of this year and will work with Christ in the Apocalypse of the earth to clean up the world and make it good. The White House will be the new heaven on earth for the 144.000 Jewish Muslim christians. We need to read the good gospels of Obama and contribute to the good Obama Christian Campaign. We want to thank you for your service if you can support us in this good coalition and referendum!

  • alan

    This is a pretty good site and I like it. I just don’t get all the god stuff. I would think that would show up on a religious web site. I’m not sure what the connection with god and money is?

    • Sista

      WAKE UP AMERICANS!!!!! God has everything to do with it and you’ve only to look to history for the proof. There is nothing new under the sun and this situation mirrors Israel’s Northern kingdom before it was annihilated. Please open up your bibles and read something Chuck Missler likes to call “Hosea Can You See”…located in the Old Testament book of Hosea. You will notice how well America fits that description. They didn’t heed the warnings of the prophets and now they are gone. They said the same things you hear people say today, “Whats God got to do with anything?”, if you don’t figure out the answer to the question we will probably suffer the same fate.

      The good news is that there was a time when a nation that God judged did listen to a prophet and turn things around. In the book of Jonah there’s the story about Nineveh, they listened and made changes accordingly which resulted in postponing judgement for 100 years.

      Our decline began when we too God out of schools and will continue as we try to remove Him from everything. I believe God has spared us because of His of Israel “I will bless those who bless you and curse those who curse you” (Gen. 12:3), Our alliance with Israel may be the ONLY thing that has restrained the wrath God has for us. If your skeptical look to history you will find those who mistreat Israel God will judge and those who bless her are spared and blessed because of her. Do your homework.

  • john porter

    that first guy is right if we fail everyone fails, but the american dollar is about to become nothing so what will prob happen like what happend back in the 60’s but worse america will fail!!!!! we have to we are so far behind that we have to fail!!!! the american dollar will be no more irs agents will take alll the gold you own and make a price for you and a new currency will take place so we have to start from sratch to get back where we was maybe we will learn from this and wont let it happen again there will be inflation in the next year and alot of people will be hungry in america GOD please help us threw these hard times amen o and martial law will take affect threw out all of america get ready for the ride of your life

  • U R Dumb

    SAVE YOURSELF DONT VOTE FOR OBAMA !!!!!!!!!! HES THE ANTICHRIST AND HE IS DEATH FOR ALL OF US. WAKE UP YOUR RIGHTS ARE BEING TAKEN, STAND UP FOR YOURSELF. DO NOT LET THEM TAKE OUR FIRE ARMS OR OUR COMMUNICATION. WHAT DO YOU THINK IS GOING TO HAPPEN WHEN EVERYONE KNOWS EVERYONE IS UNARMED ? MASS HOME INVASIONS, MORE DEATHS THAN EVER, GREED WILL TAKE OVER, PEOPLE WILL TAKE WHATEVER THEY WANT FROM WHO EVER THEY WANT. ALSO IT WILL NOT STOP AT OUR 1ST AND 2ND AMENDMENTS !! IF YOU LET THEM TAKE 2 THEY WILL TAKE 4 AND SO ON. ALL AMERICANS NEED TO WAKE UP AND UNDERSTAND LEAVING THE PEOPLE UNARMED IS LEAVING THE PEOPLE HELPLESS AND VULNERABLE !!

  • Douglas

    Urg. First off, NO man is god. Certainly not Obama. Obama signed the NDAA, a law that allows ANY US citizen to be arrested, and detained indefinately with no official charges and no trial allowed. He made it so any person on this planet (US citizens included) can be assasinated at his discretion. I don’t necessarily believe in the whole antichrist thing, but think about it: During the 2008 campaign, he promised all these great things, ending American interventionism, particularly in the middle-east, said he would end government secrecy, ease restrictions on medicinal marijuana, etc. Did he do any of that? NO the opposite. You want to fix this problem? Become non-interventionist, eliminate most federal taxes (to bring back jobs), bring the troops home (saves $800 billion per year), and cut appropriately. The budget would be about at 2004-6 levels. We the people just need to stand up to the feds.

  • Nathan

    Leave OBAMA alone. You bastard racist! As if the country was not already on a slippery slope when BUSH was in power.

    • Don Sebold

      They both serve the same evil….see it

  • Cody

    Wow obama supporters are freaking idiots a debt that has tripled. Rights being taken away left and right he is a communist and deserve what all communist people like hime deserve. People being arrested for speaking of god. I pray for our nation and you idiots that dont see the big picture.

  • Tomo

    R U kidding me? Obama a communist? That’s ridiculous. He’s a fascist much the same as Bush was/is. Obama as well as Bush believe in a corporatocracy, rule by Wall st and the banksters and the MIC. The common people mean nothing to Obama. He only says enough and promises enough to get their votes and then dumps on them after the election. The only real true candidate we had for US President was Nader back in 2000 and 2008. Course even if he got elected what could he get passed in a Congress that is bought and owned by corporations and Israel.

  • http://twitter.com/harleyhooch TYE BROWN

    daffy duck says–They are all communist satanists that want to kill 95 percent of us and be the lord and masters to whatever sheep that are left. they are but a bunch of sick mongrels. maggots.

  • robert scott

    Somebody is getting upset with the dollar. When more and more countries join the crowd and gradually start refusing it, the times when America was buying up the world’s production with suitcases of freshly printed greenbacks will be over. And stuff will become expensive. What this may cause on the Main Street, is the topic of a (hyperbole) video called “The Day the Dollar Died” now circulating on youtube (I am in no way associated with nor do I know the makers, the “National Inflation Association”). Ironically, the video came out virtually at the same hour when the news about the China-Russia deal surfaced. What a timing.

  • jo

    This isnt about race or anything of the sort. the fact of the matter is the american people (the ones who are still bought in to the system) have no idea that the money in their pocket will mean nothing. It will not be accepted as a form of payment for goods or services, such as gas, food, essentials, payment for water, electricity, conveinence. This is the point of the video to educate the public of what our elected officials are supposed to do. They want to distract you with hate for as long as they can. the plan is to control all of the worlds money. Which is why money is the root of all evil. These events that are about to come to pass have biblical references. Open your eyes people.

    • Don Sebold

      The LOVE of money is the root of all evil check your scripture

  • zack

    If it was me, I would suggest to the UN to make one new standard currency that is not used by any countries. This currency will not have any specific value in terms of trading or purchasing but merely a ‘standard baseline’ to determine the rate of exchange with other currencies.
    Meaning that if let’s say 2 countries are trading (eg: US and Japan), both the dollar and yen will be trade at the value based on the current exchange rate with the New Standard Currency. (eg: US$ 100 = 50 NSC…..10,000 Yen = 45 NSC)….
    for an item sold/trade valued at US$100 from US, then Japan need to pay approximately 11,111.11 Yen = 50 NSC. As to how the NSC is valued to other currency, just make it the same as how FOREX is currently monitored.

  • Don Sebold

    Obimbo is a symptom of the disease that inflicts our nation…Islam and the lack for the respect of life in this country has gotten us to this point…if you want the truth..it’s those who claim to be Godly that have dropped the ball….it only took one person to get abortion passed…55 million dead babies later….it only took one person to take prayer out of school….the DNC booed God or any mention of Him….and the idiots in our nation keep voting left….well now our backs are against the wall internationally,and in our own nation…we have let sodomy go unchallenged,every sexual perversion has rights in our nation….we have gotten what we deserve….Obama is one of the final nails in our coffin….he has done more damage to America in 5 years than has been done in the last 20… Anyone who pays attention to reality understands it’s not about race….it’s about evil….

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