The Beginning Of The End
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China And Russia Are Ruthlessly Cutting The Legs Out From Under The U.S. Dollar

The mainstream media in the United States is almost totally ignoring one of the most important trends in global economics.  This trend is going to cause the value of the U.S. dollar to fall dramatically and it is going to cause the cost of living in the United States to go way up.  Right now, the U.S. dollar is the primary reserve currency of the world.  Even though that status has been chipped away at in recent years, U.S. dollars still make up more than 60 percent of all foreign currency reserves in the world.  Most international trade (including the buying and selling of oil) is conducted in U.S. dollars, and this gives the United States a tremendous economic advantage.  Since so much trade is done in dollars, there is a constant demand for more dollars all over the globe from countries that need them for trading purposes.  So the Federal Reserve is able to flood our financial system with dollars without it causing a tremendous amount of inflation because the rest of the world ends up soaking up a lot of those dollars.  But now that is changing.  China and Russia have been spearheading a movement to shift away from using the U.S. dollar in international trade.  At the moment, the shift is happening gradually, but at some point a tipping point will come (for example if Saudi Arabia were to declare that it will no longer take U.S. dollars for oil) and the entire global financial system is going to change.  When that tipping point comes the global demand for U.S. dollars is going to absolutely plummet and nightmarish inflation will come to the United States.  If such a scenario sounds far out to you, then you have not been paying attention.  In fact, China and Russia have been working very hard to move us toward exactly such a scenario.

China and Russia are not the “buddies” of the United States.  The truth is that they are both ruthless competitors of the United States and leaders from both nations have been calling for a new global currency for years.

They don’t like that the United States has a built-in advantage of having the reserve currency of the world, and over the past several years both countries have been busy making international agreements that seek to chip away at that advantage.

Just the other day, China and Germany agreed to start conducting an increasing amount of trade with each other in their own currencies.

You would think that a major currency agreement between the 2nd and 4th largest economies on the face of the planet would make headlines all over the United States.

Instead, the silence in the U.S. media was deafening.

At least there were some reports in the international media about this.  The following is from a Reuters article about this very important deal….

Germany and China plan to conduct an increasing amount of their trade in euros and yuan, the two nations said in a joint statement after talks between Chancellor Angela Merkel and Chinese Premier Wen Jiabao in Beijing on Thursday.

“Both sides intend to support financial institutions and companies of both countries in the use of the renminbi and euro in bilateral trade and investments,” said the text of the statement.

By itself, this deal would not be that alarming.

However, the truth is that both Russia and China have been making deals like this all over the globe in recent years.  I detailed 11 more major agreements like the one that China and Germany just made in this article: “11 International Agreements That Are Nails In The Coffin Of The Petrodollar“.

In that article I listed a few of the things that will likely happen when the petrodollar dies….

-Oil will cost a lot more.

-Everything will cost a lot more.

-There will be a lot less foreign demand for U.S. government debt.

-Interest rates on U.S. government debt will rise.

-Interest rates on just about everything in the U.S. economy will rise.

So enjoy going to “the dollar store” while you can.

It will turn into the “five and ten dollar store” soon enough.

Okay, so if you are China and Russia and you are working hard to undermine the dollar, how do you get prepared for the fiat currency crisis that your hard work will eventually create?

You guessed it.  You hoard gold and other precious metals.

And that is exactly what China and Russia has been doing.

A recent MarketWatch article detailed the massive hoarding of gold that Russia has been doing….

I can’t imagine it means anything cheerful that Vladimir Putin, the Russian czar, is stockpiling gold as fast as he can get his hands on it.

According to the World Gold Council, Russia has more than doubled its gold reserves in the past five years. Putin has taken advantage of the financial crisis to build the world’s fifth-biggest gold pile in a handful of years, and is buying about half a billion dollars’ worth every month.

Of course Russia is not alone in hoarding gold.  According to Zero Hedge, China has quietly been importing gigantic mountains of gold….

In July, Chinese gold imports from HK, after two months of declines, have picked up once more and hit a 3-month high of 75.8 tons. While it is notable that this number is double the 38.1 tons imported a year prior, and that year-to-date imports are now a record 458.6 tons, well over four times greater than the seven month total in 2011 which was 103.9 tons, what is far more important is that in the first seven months of 2012 alone China has imported nearly as much gold as the total holdings of the hedge fund at the heart of the Eurozone, elsewhere known simply as the European Central Bank, and just as importantly considering the import run-rate has hardly slowed down in August, which data we will have in a few weeks, it is now safe to say that in 2012 alone China has imported more gold than the ECB’s entire official 502.1 tons of holdings.

And all over the world Chinese companies are buying up gold producers.  China National Gold Group Corporation has put in a $3.9 billion bid to buy African Barrick Gold PLC, but that is only one example.

A recent Fox Business article listed a bunch of other similar transactions that have taken place recently….

Zijin Mining Group Co. (2899.HK), China’s second-largest gold producer by output, said last week that its subsidiary has acquired more than 50% of Kalgoorlie’s Norton Gold Fields (NGF.AU).

That deal gives it a foothold in the Australian market, the world’s second-largest source of gold output after China itself. In 2011, Zijin bought 60% of Kazakhstan-based miner Altynken, which has access to a gold mine in Kyrgyzstan.

Since 2008, Chinese companies have completed 10 US$20-million-plus acquisitions of Australian gold assets, worth a combined $1.6 billion, according to Dealogic. Half were initiated since last year.

In November, Shandong Gold-Mining Co. (600547.SH) launched a bid to acquire Brazilian gold miner Jaguar Mining Inc. (JAG.T) for $1 billion.

You would have to be blind to not see what is happening.

Other big names have been hoarding gold as well.  In a previous article I detailed how George Soros, John Paulson and central banks all over the planet have been hungrily accumulating gold.

So what does all of this mean for the price of gold?

That’s right – it is likely to keep heading up.

In fact, Citi analyst Tom Fitzpatrick believes that the price of gold will likely hit $2500 within 6 months.

Personally, I believe that there will be times when precious metals both fall and rise in price dramatically.  It is going to be a wild ride.  But in the long-term I believe that all precious metals will be going up as fiat currencies such as the U.S. dollar fail.

Sadly, most Americans have no idea just how incredibly vulnerable the U.S. dollar really is.

The following is an excerpt from a recent piece by investigative journalist Bob Woodward.  It shows just how worried our leaders are about a crash of U.S. Treasuries….

Another possible outcome, Geithner said, was perhaps worse. “Suppose we have an auction and no one shows up?”

The cascading impact would be unknowable. The world could decide to dump U.S. Treasuries. Prices would plummet, interest rates would skyrocket. The one pillar of stability, the United States, the rock in the global economy, could collapse.

What happens someday if the rest of the world decides to reject our currency and our debt?

Right now we are able to trade our dollars for the things that we “need” such as oil from the Middle East and cheap plastic consumer products from China.

But what happens if the Federal Reserve keeps printing and printing and printing and the rest of the world eventually decides that the U.S. dollar is not even worth the paper it is printed on?

The truth is that the amount of printing the Federal Reserve has been doing and the amount of borrowing the federal government has been doing are both completely and totally unsustainable.

At this point, Moody’s is threatening to cut the credit rating of the federal government if a deal is not reached soon to reduce our debt to GDP ratio.

And Moody’s is not the only one concerned about our exploding debt.

German Finance Minister Wolfgang Schaeuble recently stated that he believes that “there is great uncertainty about the course American politics will take in dealing the U.S. government’s debts, which are much too high”.

Just because the economy is relatively stable right now does not mean that it is always going to be that way.

If we keep debasing our currency like this, at some point the rest of the world is going to decide that China and Russia have been right all along and that we need a new global reserve currency.

That day is coming.  It might not come tomorrow or next week or next month but it is definitely coming.

Once the U.S. dollar loses reserve currency status, that will be a major turning point in the history of our country.  We will never fully recover from that, and we will never get back to the same level of prosperity that we are enjoying today.

So enjoy spending those dollars while you can.  The party is almost over.

  • McKinley Morganfield

    Another possible outcome, Geithner said, was perhaps worse. “Suppose we have an auction and no one shows up?”

    Timmy has no worries, Uncle Ben will buy T-bonds until the cows come home.

  • Rodster

    Over the last 40 years we have become our own worst enemy. We have acted as if our empire would never end NO matter how we conducted business. As with all super powers throughout history they eventually fade away and get replaced with something new.

    I see that scenario playing out. The problem is, the world is so unstable and there are too many weapons that can cause massive damage. I fear that one day we’ll have a desperate nation using them and causing a chain reaction.

    It’s criminal how the lame stream media is out to lunch and cares more about Paul Ryan’s abs or the pizza owner who gave a bear hug to Obama than what other nations are conspiring against our economy and future well being.

    • Gary2

      rodster–I am foirced to agree with you on this. Who gives a *********** about lyin ryan abs.

      • GaryToo

        obviously you do. Its the only thing in all of this thats got your attention, not russia, china or us dollar.

        • Chloe

          lol….I noticed that too….

      • Alvin

        Or the fact that President Barry is Pro Muslim

        • Gay Veteran

          “Or the fact that President Barry is Pro Muslim”

          yeah, must be why he’s killing so many of them

      • Alvin

        also, don’t forget about current Vice President STUPID

    • Mike

      True statement!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    • Elysatio

      Greed for power and money. Sheeple trusting politicians and being pacified with bread and circuses, cheap food (Wal-mart) and Reality TV

    • jaxon64

      True Rodster…and there is always great upheaval, social unrest and even great wars whenever we see a once world dominating country fall to second tier status. The power voids in all of the little areas and also all of the US charitable giving ( just think of how much food the US exports, the interventions and charities we provide, disaster reliefs, etc). There is going to be unrest on a global scale from food riots in places we feed, spiking unemployment as other nations lose their biggest customers.

      As an off topic but indirectly related Michael– I wanted also to mention something that I have not seen you mention but will be a HUGE consequence of a devalued US dollar or the US not being able to pay its bills. This is the tens of millions of employees and millions of emnployers ( directly and indirectly) who will suddenly lose jobs, hours or businesses if Medicare becomes insolvent or starts rationing.

      Millions of seniors in Nursing Homes ( 23 million I beleieve the rough number is) and all of the GNA’s, RN’s, Rehab teams, physical therapists, speech therapists, social workers, doctors etc etc will be crunched. Millions more who make equipment such as scooters, hospital beds, walkers and other devices for the non-ambulatory will feel the crunch as medicare no longer pays for them and people can’t afford them out of pocket.

      I know you’ve talked about the impact on quality of care with the disaster of Obamacare and the staggering costs we’ll be facing but the effect on employment as services are cut and care denied ( yes Gary–there really are “death panels”, they were just in the original $880 billion stimulus plan and not outlined in Obamacare) Michael, unemployment could be at 50% in the USA with the collapse or hyperinflation of the dollar because of how involved the government has made itself in industry and business in the past decade ( from autos to schools to banking to medicine).

      • Michael

        Very good points. When the dominoes start to fall a whole lot of people are going to lose their jobs.

        I think we will all eventually be shocked at how high unemployment goes.

        Michael

      • Gay Veteran

        and you think there aren’t “death panels” at the insurance companies?

        • Chloe

          No. Insurance companies are all about profit not destroying the middle class as to bring Socialism into full bloom.

          • Gay Veteran

            really? and how was that working out for you? double-digit increases every year?

  • erheault

    Hopefully when that day arrives we will stop trying to be the world police force and start to take care of america again, and stop all of the phony wars we have had every year for the last 50 years.
    We havent won any of them and whats worse we keep sticking our noses in other nations buisness and getting it bloody with the cream of our youths.

    • GaryToo

      unfortunately erheault, i think it will work the other way around, the giant war machine will be used to try and knock the competitors out, a lot of that instigation is going on right now as we speak.

  • Antonio Gonzalez

    “and this gives the United States a tremendous economic advantage.”

    It’s the called free lunch, and not more free lunch, the people must work.

  • Washington

    Published on Sep 11, 2012 We are on a road that leads straight to the World War 3, but in order to see that and to fully understand what is at stake you have to look at the big picture and connect the dots. This video examines the history of the dollar, its relation to oil, and the real motives behind the wars of the past two decades.

    http://www.youtube.com/watch?v=HP7L8bw5QF4&feature=g-all-u

    • Eisenkreutz

      Thank you for the link brother.

  • Bad Dawg

    Michael,

    So much of this is old news, yet so many millions (hundreds of millions???) still can’t see the forrest. Just tooooo many trees. Thanx for constantly bringing it up.

  • http://www.prepper-resources.com PJ Prepper

    The wild ride will come to an end very soon. All of the signs are there, yet the MSM simply will not report on it. No matter, we have websites like these to come to for the truth.

    With all of the gold hoarding and price speculation going on, I’m glad I do not own (nor do I plan to own) any gold. For some people it might be a part of their prepping strategy, it’s not part of mine. George Soros could offer me suitcase full of gold coins after SHTF in return for one #10 can of beans and I’d turn away and laugh. It’s only valuable if you believe it’s valuable.

    Great article once again Michael.

    PJ
    Prepper-Resources.com

    • John W.

      They don’t/won’t report it because they are in on it and support the collapse of the country. How else can you explain the things that have been done the last forty years if not part of a plan to purposely collapse our economy and with that the political structure. Why would any rational nation which has tremendous energy reserves refuse to use them and instead send trillions of dollars to nations that are hostile to us. That is just one example.

    • Alasha

      Nice work, PJ and thanks!!!!!!!!!!!

      http://www.prepper-resources.com/

      I will address what I personally would do with the following dollar amounts: $100, $500, $1000, assuming that I am starting from zero (brand new prepper). The goal is always a well-rounded and diverse prep approach, trying to address all of the major categories. Also remember these plans do not include the “skills” category which is arguably the most important category of all.
      What I would do with a $100 Prep Budget.
      – $89 / The Trekker II™ Emergency Supply Kit

      What I would do with a $500 Prep Budget.
      – $89 / The Trekker II™ Emergency Supply Kit
      – $59 / 72 Hour Emergency Meal Kit
      – $231 / Berkey Water Filter
      – $40 / Emergency Solar Hand Crank Radio
      – $60 / K Light Solar Powered Lantern

      What I would do with a $1000 Prep Budget.
      – $89 / The Trekker II™ Emergency Supply Kit
      – $59 / 72 Hour Emergency Meal Kit
      – $231 / Berkey Water Filter
      – $40 / Emergency Solar Hand Crank Radio
      – $60 / K Light Solar Powered Lantern
      – $180 / Deluxe Two Week Supply of Storage Food
      – $20 / The Encyclopedia of Country Living
      – $15 / Where there is No Doctor
      – $211 / Ruger 10/22 Rifle*
      – $41 / 500 rounds of 22LR Ammunition

      *As always make sure you check with your local laws when purchasing firearms. Often you can buy from places online at a significant savings but you must make a transfer through a local FFL. Again your state laws may vary so check with them first!

    • Zedge Hero

      And ever civilization in the last 4,000 years and it’s inhabitants have considered it valuable. I wouldn’t trade you my seeds and garden knowledge for your number 10 beans, but I sure would for some gold. Why? Because supply is for a soft landing when shtf, but after a year (or less if you help your family) it will be about ground, gardens, and good workers. Knowledge and seeds (heirloom) are so much more valuable than your #10 can of beans. And when my first abudant harvest happens and i need to store some of my excess wealth I would look to Silver and Gold as all of our ancestors did.
      As a matter of fact I have traded excess produce this year for all kinds of things that could easily be converted into FRN’s (Fed Reserve notes) and then into silver and or gold.

      • jaxon64

        Zero Hedge, you are right and so often the gold and silver naysayers are either short-sighted or have some envisioning of a “mad max” scenario.

        There will quickly be a need of a form of money-even in a post dollar world. ……….EXAMPLE>>>>>>>>>>>>

        If I’m a blacksmith in afuture scenario and a farmer comes to me to fix or weld his plow…well he may offer me 50 bushels of corn for my services. I don’t need 50 bushels of corn..so instead I’ll accept 2 bushels of corn and 10 ounces of silver.

        Later that day a rancher asks me to forge him some branding irons for his cattle. I’d like some beef but a side of beef is valued well above the cost of a branding iron so instead he accepts as payment my services of forging for him and 10 ounces of silver I got from the farmer and in turn he gives me a half side of beef…Later the farmer does well as he sells corn as feed to the rancher.

        There will always be need of a form of money as long as services and goods have different values.

    • Gay Veteran

      you need to start reading the Modern Survivalist by a person who survivied the collapse of the Argentine economy, he says it is essential that you have SOME gold and sivler

  • RufusT

    There has never been a case of hyperinflation in a country in which (1) it’s debt was denominated in it’s own currency….Ours massive debt is denominated in dollars…&..(2) housing prices were falling….Our property values have been dropping dramatically and given the crushing oversupply of both houses and commercial properties, is unlikely to begin any sustained growth for a generation……..I think deflation is a bigger long term threat……Also if the dollar is undercut by Russia & China then exports to the US will increase in price…The Chinese will be cutting their own financial throats..If imported goods to the US skyrocket in price then that will stimulate American industry…..If a new Toyota is 50K and you can get a comparable US built car for 35K then it’s good for US workers…If foreign steel goes up in price, well, we still have plenty of iron ore left..We’ve been finding alot more oil in North America recently and have developed new technologies to get at formerly unprofitable oil sources….Between new finds in the US & Canada we are going to be much less dependent on Middle Eastern oil……

    • SuperBigHuge

      You are living in a dream world. The dollar has lost 98% of it’s value since the Fed became our owner. That said, hyperinflation is already here. Explain how a gallon of gas that cost 25 cents in 1972 and now costs 40 times that much is not hyperinflation. My mother paid $35/mo in rent in 1968 that I now pay $800/mo for. Blow that smoke up someone else’s hindquarters. Hyperinflation is here…it’s just going to get MUCH worse in the coming years.

      • RufusT

        You’re describing inflation not Hyperinflation…..The dollar has lost 98% IN THE 100 YEARS since the fed took over…That’s inflation…In hyperinflation, currencies lose 98% of their value in 100 HOURS..Read up on Wiemar Germany……..That the world is in dire economic straits is true but when you hysterically misuse terms they lose their power & you lose credibility…….

    • Eisenkreutz

      Could you please elaborate to help us understand the argument for deflation? Many people, including myself are having trouble seeing it.

      • IndianaJohn

        Deflation is debt failure. As in non-payment of debt.

      • RufusT

        No!…….that argument is rather long & is elucidated several places on the net….I’m sure you now how to use a search engine…..Just understand that the two worst depressions in US history, (the 1930s & the even worse 1870s) were DEFLATIONARY not inflationary…

    • Atilla77

      Your theory is valid if the Chinese for example cared whether they sell us or not. Americans think because they consume so much Chinese garbage the Chinese worry about our business, just the opposite. All they ship over is watered down fake garbage. They have emerging markets they see as more important, along with their secure slaves in Europe, now that we have made them a industrial powerhouse, trust me they don’t care. Our industrial base has been gutted, and will take years to reshape for your theory to hold water, and it could, for our sake I hope you are right.

      Good article Michael

      • RufusT

        The Chinese also own hundreds of billions in our debt…That debt is denominated in DOLLARS not Yuan…If they destroy the value of the dollar, then they destroy the value of the IOUs they hold & get repaid in debased or worthless dollars….

    • TooLittleTooLate

      Everything you say is true, no doubt.

      The only thing comment on is that these times are different than any other in history. I don’t think we can look to history and imagine that there will somehow be a trade balance if we race our currency to the bottom.

      Not only is our own currency at risk, the euro is also at risk…. even more than ours now that they’ve decided to fire up the printing presses.

      The way things are going, I’m not sure the world can maintain a balance as the markets maintain the death spiral of all fiat currencies and debtor nations.

      Current world events are already bad enough without even looking to the economic perils we’re facing.

  • Xander cross

    This is not true at all. You’re loosing credibility Michael.

    • Michael

      No?

      How am I wrong?

      Michael

      • http://www.prepper-resources.com PJ Prepper

        Hopefully it’s just sarcasm. You couldn’t be more right.

        PJ

        • xander cross

          this article is not true. George Stephnalopolis told me on this week with george stephnalopolis. However, I do have a problem with chinas one child policy.

          • Mondobeyondo

            Huh?

    • Eisenkreutz

      Shut up, idiot.

    • chiller

      @Xander,
      Michael is definitely NOT wrong and it’s your credibility that just created that flushing sound. The BRIC countries are actively participating in their own currency swaps to avoid the dollar. If anyone tries to use anything other than dollars for oil trade, the US makes sure they end up like Libya. When you’re the biggest bully on the block, the time comes when everyone else gangs up on you. And since the latest weapon of warfare is financial destruction, we are about to be “ganged up on”. The US has set a fine example of how NOT to run a reserve currency and the rest of the world knows it. Hence they are creating their own gold backed currency to take the US to the wood shed with. Why is the US so set against a gold backed currency with over 8,000 tons of gold in Fort Knox? Because once we are forced to deal with the rest of the world on a gold backed currency system and it’s discovered there is in fact ‘no gold’ in Fort Knox….it will be like finding out your ex emptied out all the bank accounts just before she left for South America.

    • lee

      yes, you gotta spell out why if youre going to make a call.

      wendys shakes are bad.

      see.

  • http://www.holyfamparish.com Joe Dorner

    I wish you article didn’t seem to vilify China and Russia. Can you blame them for trying to position themselves so they won’t be paid in counterfiet dollars forever? We are being very unjust economically to them. They are perfectly within their rights to try to defend themselves economically.

    • Eisenkreutz

      You moron. You jerk. You jackass. Tell that to the victims of the holodomor and the great purge and the great leaps forward and the forced resettlements and the gulags and the KGB torture camps and the church burnings and the pograms and the killing fields and the college burnings and the liquidation of the kulaks and everyone who suffered starved and died because of those communist cockroaches and their idiotic manifesto. This piece of ****** Putin was a KGB Colonel like to prance around in his judo uniform. I would like to have a vale tudo match with that faggot in real life. Damn communist vermin must be purged from the earth. Go read a history book you numbskull.

      • Chestertonian

        Eisenkreutz, the communists were and are certainly ruthless and vicious and an enemy of what I value, which is Christ and Christendom. However, you haven’t been paying attention if you haven’t noticed that Putin is a real Christian (Orthodox); much, much more so than our foreign-national president. He has crushed the gay pride movement without apology, which puts him among the Christian heroes of 2012, in my book. He also publicly punished the feminist blasphemers of a large cathedral in Moscow; while our leaders would have blathered about the protesters’ rights etc. etc. In case you didn’t notice, our government has put into power several fanatic groups of terrorists, including in Libya where the USA bombed Khadaffi’s centers of power last year; that led to the killing of our ambassador to Libya and others yesterday. By all means, let’s oppose communism. I think there’s more communism in America today than in Russia. The Pravda website is contradictory (too many scantily-clad women) but there is more anti-communist writing there now than there is in the New York Times.

        • Gay Veteran

          “…He has crushed the gay pride movement without apology, which puts him among the Christian heroes of 2012, in my book….”

          so you support an authoritarian “Christian”?

        • Victor

          So you’re against basic equal human rights for everyone, you believe in magical creatures with no proof or basis in reality, and you think Putin is a “Christian hero”. Sounds like you’re living in the wrong country… or the wrong century.

    • Save the Republic

      Yeah, when someone is playing a rigged game, they usually get upset when someone starts beating them at it. There is only so long you can cheat at a game before your opponents eventually catch on and start beating you at your own game. China is being smart…they sell us their cheap plastic crap, then take the worthless dollars they get from us and use them to buy up our gold. In the end, we’ll have vaults and homes full of cheap plastic that is of no value to anyone, but their vaults and homes will be full of gold.

    • Elysatio

      . Exactly. How are they villains for preparing for the collapse of the dollar? They didn’t bring it on, we did

  • Newton

    The dollar will fall dramatically ?

    How is that possible when it,s worth about 6 cents ( which were once copper but are now some zinc alloy )

    Or how about that pre64 silver dime in your change drawer that was worth 10 cents in 1964 and as such will now buy you a gallon of gas.

    be observant, inflation is already upon us in a major way with everything you buy – only nowadays., manufacturers have gotten really
    Smart with smaller packaging, lighter, cheaper, planned obsolesence
    And offshoring.

    last week I was repairing a bird Cage and needed a dowel rod, so I went to Lowes and paid almost 5 bucks for a 4 foot dowel rod made out of American Poplar.

    The bar code red

    MADE IN CHINA

    Let me get this straight now , we grew the tree, cut it down, hauled it to. Sawmill and had it milled, sent it to a kiln operation and had it dried

    We then sent the rough lumber to friggin, China so they could make the part and send it back !

    I just give up

    • Eisenkreutz

      Buy local buy American and buy quality whenever you can. Its all we can do.

      • http://powerwithsun.blogspot.com Dixie Passion

        So many factories are closed it is hard to find something made in America anymore.

    • GaryToo

      same story with australian steel, chinese mine our iron ore, ship it to china and export back steel to us. Its madness.

    • Mondobeyondo

      Your pre-’64 coins haven’t lost any value. It’s the dollars in your wallet that have lost value.

      Never store dollar bills under your mattress. The mattress will eventually be more valuable than the dollars you’re hiding under it.

  • http://EconomicCollapse Already Gone

    the ptb’s plan all along? If anybody believes that the politicans running this country are not involved in this transaction you are sadly mistaken. And the real sad part of all this is that there are still a majority of people that believe obama is still going to make this country a quote “better
    place to live” good grief!the people that will be able to handle this the best will be the ones that are already in the pits of hopelessness because they have nothing to lose.

  • http://www.palmettoprotectionproducts.com prepguy

    Don’t forget silver as a valuable item for trade. Also things like coffee and salt (in the middle ages salt was worth its weight in gold).

    • http://www.prepper-resources.com PJ Prepper

      Who are you going to trade your silver with if the dollar tanks? How many people even know how what the value of precious metals are, or will even recognize that value? As an experiment go to any retail outlet with a bag of 10 pre-1965 silver dimes…worth approximately $25. Pick something out worth $25, and then try to pay for it with your 10 silver dimes. Let me know how that works out for you.

      You might be able to barter with a prepper who recognizes the “value” of your silver, but even then that could be a stretch in a really tough economic situation. Like you mentioned coffee and salt are valuable because they DO THINGS for people. You can drink coffee, you can season or preserve meat with salt.

      What can you do with silver? Rub two pieces together and create friction? I’m not trying to discourage your prepping plan, just providing an alternate opinion to those who prefer to stockpile precious metals.

      Happy Prepping!

      PJ

      Prepper-Resources.com

  • http://www.survive2balive.com GA

    “So enjoy spending those dollars while you can”…on preps!!! Prepare expeditiously, you will have nobody to blame but yourself.

  • GSA

    The United States is gonna find itself on the outside looking in if its
    reserve status dissolves….our abuse of financial power will be our downfall and our
    descent to a second rate nation will be tragic and deserved.

  • Mondobeyondo

    You hardly ever hear about the U.S. dollar index in the mainstream media. Certainly not on ABC, NBC, CBS, Fox or CNN. They gladly report how much the Dow rose or fell, or how much the price of gold rose or fell, or even how much yen it takes to buy a dollar.

    The dollar index (the value of the dollar vs. a basket of foreign currencies) is a much more accurate indicator, in my view. It goes up and down, just like all the other indicators. However, the long term trend seems to be a slow motion fall. Kind of like that scene in “The Matrix”, where Neo dodges those bullets in slow motion.

    Can this fall be reversed? Highly, extremely, extraordinarily unlikely. And if QE3 goes full tilt boogie, you can change that to a “no”. From the way it looks, there’s going to be more quantitative easing as the Fed desperately pushes more buttons and levers. If that happens, expect the dollar index to plunge. The more dollars in circulation, the less each dollar is worth. Just like the more Mickey Mantle rookie baseball cards are available, the less each one is worth. Same principle, more or less. I once paid $25.00 for a 1922-D Lincoln wheat cent. Why so much money for a penny? There weren’t many of those coins minted that year. That makes them reasonably rare. The 1922 “plain” cent can reach the $400-$800 mark. (Long boring story cut short: No pennies were minted in Philadelphia in 1922. They were all minted in Denver. On some specimens, the “D” mint mark on the master die filled in, leaving no mint mark at all on the coins minted – the same as coins minted in Philadelphia, which have no mint mark.) Okay, that’s your numismatic trivia for today!

    The dollar index at the moment is at 79.89. It’s the first time in a couple of weeks I’ve seen it below 80. I guarantee you, it won’t be the last time.

    • lee

      you got two problems here:

      1. QE3 is notr coming anytime soon. if you look at bernacke previous comments, he has been telling congress its thier problem now. also, despite real unemployment in worse shape now, the market is at record levels and the fed has admitted that easing has not increased employment; so the only thing more easing will do is increase asset prices. the fed is not willing to rise highjer inflation and commodity prices now for the minimal effect more easing would have now.
      i wouldnt expect easing again until reality comes to eurpe, a la last fall; and has the world worried and the market down 15% or more; its not going to happen when its up 10% this year.

      2. IMO, you’re looking at the dollar in too much of a vaccum. the same of more federal spending has affected the dollar, every countries spending does the same to their currencyu and they are all doing the same. foreign money is going to gold at records, but it will still go to the dollar too.

      now, when the real crash comes; all bets are off; i cant predict that; but as the recession gets worse; it’ll come to the US.

      • Mondobeyondo

        The market (if it’s the stock market you’re referring to) is in record territory precisely BECAUSE the Fed keeps pumping more money into it! That is why the Dow is at the highest point since late 2007. The money is not trickling down to John and Jane Doe, or to Rick’s Grocery Store, but the big investment banks are definitely scooping it up. And they are still hesitant of lending it to anyone, whether that be other banks, private businesses, or you and me.

        It’s not here yet, but I think QE3 may be right around the corner. Especially if the unemployment rate keeps hovering around the 8% rate. Won’t work though. No amount of money is going to jump-start this broken down Cadillac of a country.

        Lots of factors affect the dollar’s value – everything from the global banking system, to the drought in the Midwest, to the killing of the U.S. ambassador in Libya. The dollar index is the best way to measure the dollar’s value from a FINANCIAL standpoint. But “financial” is a pretty heavy hitter. It’s a Babe Ruth in a starting lineup of Joe Finnegans. (Whoever he is.) But to rely on the USDI solely, to make your financial decisions, would be foolish.

        Just my views, and I’ve been wrong lots of times. If I were right all the time, I’d have started my own business as a prophet, and handed out the business cards to prove it. (And I’d set up shop next door to that fortune teller lady!)

  • bob

    It’s sad this writer never mentions WHY. He’s oblivious to the FACT that the destruction of America is being done on purpose to usher in the New World Order. Our best paying jobs are in China etc. to bring us to third world status. This has all been an EVIL plot against us taking decades. They have us in “the bag” Get used to eating $100.00 dollar a loaf bread—if you can get it—————————

    • John W.

      I would not worry too much about expensive groceries. I really suspect that the plan is for most of us to not be here. The population will be replaced with another one which has been the plan for a long time. We and the country have been sold, all that remains is the time and place of delivery and disposal.

    • Highspeedloafer

      bob, He is not oblivious as you say. This topic has been discussed many times, where have you been?

    • Jodi

      I believe Michael is very aware of what is going on.

  • Alan

    In Lie-O-nomics you never report any bad news. The bankers will not give up power no matter the cost.

    • xander cross

      then why do you cash your check at a bank or wal-mart for that matter?

  • jsmith

    That’s right Prepguy! While you might be able to buy a house or a car for a few ounces of gold, for smaller transactions you will need silver dimes, quarters and half dollars. Did I read somewhere that gold could go to $10,000.00 an ounce if we were to go to a fully gold backed currency? In that case if silver goes to its 16 to one ratio it would equal $625.00 an ounce! And that would make me very happy. Very happy indeed!

  • A Long

    Your article misses the mark of the economics behind these strategic moves by Russia and China. It’s true that when the FED eases the monetary supply (so-called printing money), other parts of the world soak up those dollars because they must transact in US dollars for a whole variety of things, most importantly, energy-related products. It is the FED that is to blame for the devaluing of the USD and the exporting of inflation to other countries. In order to maintain the value of their own currencies and not be crushed by the FED’s policies, they must enter into these bilateral agreements. As if we would do any less if we were in their shoes! Believe me, if we had a sound monetary policy and no private Fed robbing us blind, China and Russia would have no cause to do what they are doing now.

  • Steve

    I have to take issue with the claim that China and Russia are “ruthlessly” cutting the legs from under the dollar. China and Russia couldn’t touch the dollar if the Fed weren’t inflating it into utter worthlessness. Nor would they want to. The only reason countries want other options for reserve currencies is because we destroyed ours. That doesn’t change the fact that it’s happening, which is the important point, but let’s not stir up misdirected anger here.

    • Michael

      When I used the word “ruthlessly” I guess I was trying to convey the sense of competitors pressing every advantage in a game that they are determined to win.

      For example, a family member may be “ruthless” to you in a board game, but that does not mean that they are doing something against the rules.

      Michael

  • GSOB

    I think you hit the nail on the head Michael.

    If the US of A currency is no longer the oil currency for the world….
    that means for us to get there,
    we are toast… that is, our economy will be…
    Leaders will try to stop that from happening, lying if they have to.

    The US of A has enjoyed a hegemony for a long time,..still is,.. all the while backing up it’s military industrial complex strength with more spending,…sending our youth to the meat grinder wars…. for oil and currency dominance and to maintain our insatiable appetite for energy / products that we can get with oil. Alternatives are only talked about, at best. But we all are still enjoying the ride.

    The US of A is gearing up for war with IRAN come next year with our next POTUS, and no matter who it is, he or she will not let the hegemony’s prosperity loss happen to the US of A, so there will be a huge loss in the global population because it will escalate to the end, WWIII. To start with, it will come guised as IRAN developing nuclear weapons, just like with IRAQ. That’s 2013 for us with taxmaggedon too.

    The US’s corrupt politicans and corrupt, world banktsers will not let that hegemony go without a fight. But it will go at a tremendous cost though.

    As we move forward, the industrial revolution with all of its financial systems tied to the petrodollar system will bloody collapse. This gives way to the common, simple folks like us survivors who will rebuild a government and harness the abundance of natural resources and alternative energy sources we have been blessed with in this country…

    Preppers will be better off than non-preppers during this transition.

    So, I think that 11 years ago, 9/11 happened to innocent people on our turf, but not because our leaders are innocent, but because of our foreign policy and the petrodollar agreement back firing… though it’s never right to murder for revenge.

    Most folks don’t understand half of what your wrote Michael.
    but then again, some people realize that
    with the increase of knowledge, there is the increase of sorrow.
    It’s a willfull decision many people make to stay away from the truth.

    Hope in Christ and his goodness for all my existance and continued existance is all there really is to rely on.

    Thanks for the article.

  • phdinlogic

    Confused on why the flagship of MSM, Reuters, would say anything about this. What are the NWO banksters up to now? I still believe China and Russia are part of the game.

    • GaryToo

      It was also reuters who recently broke the news on the 5 big banks being told to make plans to avoid or prepare for a financial collapse.

  • Bill

    Ammo is still relatively cheap. Stock up now while you still can!

  • Metal Stu

    The first people to go will be the politicians… When Mass hysteria comes, and the fingers are pointing the politicians will take the brunt of the failures….

    Its coming!

  • Eisenkreutz

    Depressing. Senseless. Totally senseless. The petrodollar was the greatest gift in the world. Like a spoiled brat who doesnt understand her trust fund, Americans are so stupid they dont even know what the petrodollar is. Great empires always crumble from within. We have squandered our inheritance. The banker vampires have sucked ever last dollar out of us. We deserve it, just as we deserved to be attacked on 9-11 because we kept murdering innocent people in foreign countries. The people dont understand this either.

    • Malcolm Reynolds

      ” We deserve it, just as we deserved to be attacked on 9-11 because we kept murdering innocent people in foreign countries.”

      LMAO! You GOTTA LOVE LEFTISTS! You stupid people rail about the US ‘murdering people’ overseas and then applaud the murder of 3K of your own countrymen. The left is one class act. Bravo madam.

      • Gay Veteran

        poor Malcolm, he mistakes stating the facts with expressing approval if what happened (a typical right-wing error). Sorry, but what happened to us is called blowback.

    • paul

      renewable energy is even better. Now poor countries only need to pay for the power plant and the “fuel” will come free of charge.

  • mark

    All fiat money will have problems in the future. China has printed more than we have. Let’s see in the morning if Germany decides to print more euros. Have they forgotten the 1920’s already? Paper money is only as good as the trust of the folks that use it. Food, farmland with water onsite, tools to protect your stuff and other supplies will come in handy.

    • mark

      Might as well add another thought. We have done this to ourselves. Our Fed prints and our government spends more each year. Now the voters want more from the government every year. The libs even feel that Paul Ryan’s plan is extreme and it is a very long time till we balance a budgit if ever. Now Germany decided to print this morning. They of all countries should know better.

  • uncurable wound

    Outstanding article Michael! I believe the dollar oil scam is coming to an end.Im glad you retouched on this…The hole must run very deep on this one.Did you notice in the Zero hedge article that China had not been audited since 2009 on their true Gold holdings.WOW!!!
    I mean if they got more gold then the ECB holds,in that short of time…One can only WONDER how much they really have,-Or how much we the U.S. have?

    The German/China thing was very Interesting also…Ill take that one to the bank,thanks for that one!
    Chaaa,Ching!

    • uncurable wound

      Great spot on info wars/as usual!!!
      Michael the GRAY STATE TRAILER is Surreal!

      German courts sided with the banks….
      This is going to happen people ,and the time to prepare is almost GONE!

      You are saving peoples lives Michael,we pray for you.
      Fight the good Fight!

  • Mick

    Many ask when and how to know. Here’s how:

    When you see cracks in the derivatives market, time is very short. Get out of paper as much as possible. This kind of info is hard to find, dig for resources, it’s worth it.

    Also, if you see spikes in physical metal prices, and I don’t mean a few percent, I mean 5% or more quickly, time to get out.

    Hope this helps.

    • xander cross

      You can’t spend gold or silver. So, good luck with eating gold and silver for dinner. Tell me this, why would someone sell gold for paper money period. *************************

    • margar

      what exactly is a “crack” in the derivatives market that I am to look for?

  • http://endzone2.weebly.com Craig

    “Once the U.S. dollar loses reserve currency status, that will be a major turning point in the history of our country. We will never fully recover from that, and we will never get back to the same level of prosperity that we are enjoying today.

    So enjoy spending those dollars while you can. The party is almost over.”

    You are absolutely right sir. I thought about this tonight. This is when we are really going to be broken financially in the United States. The Saudis wont accept 90 USD for a barrel of oil. But, because we just print dollars, they will demand 300 USD for a bbl of oil. And, the more we print, the more they will demand.

    OT
    Michael have you given any thought to spicing up the reponses by allowing posters to use bulletin board commands like [quote][/quote], [center][/center], [img][/img], [youtube][/youtube], and their own avatars? Or, would you rather not be bothered with that now?

    • Michael

      Craig:

      My tech skills are fairly limited and so I am somewhat constrained by what the software that runs this site allows.

      However, anyone that wants to have their own avatar appear can get one for free at this site….

      https://en.gravatar.com/

      Michael

      • HecatesMoon

        Michael, you should use an avatar. Surely I am not the only one curious. A face to go with the writing? :D

        • Michael

          You know, I should get around to that.

          I like to keep a low profile, but I should get a pic up for an avatar one of these days.

          Michael

          • HecatesMoon

            Gary2 might stop teasing you about the pictures you post. lol

  • Me
  • k

    Why is the US gov(regardless of which party is in power) averse to buying gold??

    Also why do people in the west,atleast most of them, own no gold.

    Most people in developing countries and in developed asian countries, and in africa, own atleast some gold….one coin or one ring.

    People need to start buying atleast a piece or two.

    • paul

      You can’t eat gold, you can’t use it as protection against -20 degrees, nor against wind, no rain. It’s useless in a house, as it doesn’t provide thermal insulation. Gold represents just space savings compared with cash. And it is mobile.

      • k

        i am not asking people to buy it for eating or insulation. Its a piece of investment.

        You just confirmed my belief of how dumb most americans are.

  • rachel

    We can thankfully kiss those unwieldy entitlement programs GOOD BYE…and good riddance. Everyone will have to pull their own weight.

  • Chunkeroo

    How will crashing the USA benefit anyone? If the EU and USA crash who will china export goods too and Russia sell oil to?

    I honestly can’t see why deliberately destroying the Ultimate Consumer will enrich anyone?

    I’m not disagreeing w anything written but this is something that I don’t understand.

    • Michael

      If the U.S. dollar loses reserve currency status, there will be a global power shift from the west to the east.

      Those running things in China and in Russia understand this very clearly.

      Michael

      • chunkeroo

        God help us!

        Would you classify this as an economic war? Do you think their intent is to neuter us or overtake us?

        Where have people’s heads been for the past 30 years?
        How did we let communists enemies gain so much control over us?

        • Michael

          I think “economic chess” is more like it.

          But sadly most people don’t even realize that a game is happening.

          Michael

          • Mondobeyondo

            And it looks like “checkmate” may be coming soon. Our “king” is trapped.

  • Dezmo

    The way the usd will collapse is by bringing the global economy with it. What americans dont understand is that their economy is practically putting the global economy hostaged through bretton woods. There are efforts to place independence from the usd, but were usually too small of scale to be meaningful. Even if some countries decided to detach completely or in any significant way from the usd, usually the us arm will come to prevent this from happening.
    The usd will collapse. there is no way that this method of printing money will be sustainable, even when most economy are valued by this currency.

  • Michael

    The title of this blog piece is very stupid.

    It’s the U.S. that is RUTHLESSLY flooding the world with monopoly money created from nada, and all China and Russia and other nations that are waking up are doing is trying to stop playing this stupid and self-defeating game.

  • captain obvious

    Comrade Dear Leader will be more flexible when he is re-selected. He will put a stop to it since he loves America so much.

  • lee

    ok,

    i agree with you in much of what you put up here, but beg to differ with you here on Russia and China having a lasting effect on the dollar.

    1. china is stimulating its economy as much or even more than the US, has its own real estate bubble that will be worse for China than the US was for itself, has production slowing all over, exports slowing because world economies are slowing and has its own population problems that are in much thanks to its one child policy.

    china may be better skilled at planning for the future than US politicians, but its realities that i mentioned are going to hold it back from any move to knock down the US in the next 10 years.

    given all the problems that i mentioned, when the global recession really hits; i predict that these realities will hit china and it will be spending all of its energy dealing with its own problems.

    3. Russia. I like Russia, i’m a russophile, i speak russian and love putin. he may be a thug, but he’s a real leader for what’s best for russia, the rest of ythe world be damned. wish we had a pre3sident like that(OT: i think Newt could have been that guy, but he wasn’t electable because of that).

    Russia has the same population problems and it also depends on oil to stay on top. when the global recession hits and oil prices fall and oil production declines even more, Russia is going to be pulled into a recession just like everyone else.

    when this global recession starts really hitting more than it has, money will flow to the US dollar more than any other currency.

    now, it looks like the FED and european ECB have pushed the recession into 2013 by keeping the country credit cards limits rising, but china has done the same.

    dont get me wrong, everything world federal banks are doing right now as just going to make things worse later when reality comes to everyones doorstep; but they’ve still kept that reality from ringing doorbells so far.

    • Brianchaninov

      I also like Russia and respect Putin for realistic patriotism/nationalism re his own country. Russia lost 1 of 7 civilian and military during WWII whereas USA 1 in 300. No wonder they object when we stir trouble building mil bases upon their very doorstep. Additionally Russia suffered 30 to 50 MILLION martyred by the damnable godless Bolsheviks and Communists 1917 thru collapse of Soviet Union. These were mostly devout Orthodox Christians. With Putin’s encouragement and support Russia’s Orthodox roots are recovering from 7 decades of murderous oppression. When I visited recently churches were being widely rebuilt and many worshipers even midweek daytime services.

  • http://www.survive2balive.com GA

    Michael – little off topic but what’s going on with the BDI? The index numbers keep dropping. Today it’s at 662. Concern here?

    Thanks

    • Michael

      GA:

      Yes – there are a lot of indicators that the economy is slowing down right now.

      Michael

    • Mondobeyondo

      Think it’s time to put that DVD of “The Exorcist” on tonight. I need to get my mind at ease…

      • uncurable wound

        LOL,
        I need a young priest and an old priest!

  • jox

    “for example if Saudi Arabia were to declare that it will no longer take U.S. dollars for oil”, not a very realistic scenario. Saddam Hussein and Gadaffi tried to get rid of the dollar. Look where are they now. Arabian oligarchy is wiser than that, they will continue with the dollar.

  • Bob Marshall

    Maybe my purchasing of Gold and Silver wasn’t such a bad idea after all.

  • Beowulf

    Doesn’t anyone ask the question “Why” anymore? If you did you would quit paying taxes and hang the nearest Congressman.

    There is nothing worse than treason in government or a spouse.

  • TooLittleTooLate

    You’re right about China and Russia…. In the movie, “Too Big to Fail”, it was alleged that Russia attempted to coordinate with China to dump bonds onto the market and finish the job during the 2008 crisis. Supposedly one of the Chinese delegates or embassador told Paulson of the Russians approaching them with the idea.

    Had that happened, we’d have already been living like mad max. I don’t think it’s too big of a jump in thinking to imagine that if they’re not planning such an event, they’re preparing for one. Such an event would bring down the entire world economy, no doubt.

    I don’t know if you can believe all that you see in a movie like this but, it makes you stop and think about what would happen if all of those petro dollars and foreign governments holding bonds dump them onto the market…. our money would be devalued in very short order. Once the market starts to see China and Russia dumping theirs, it would be a race to get something for what is left…. Such an event would no doubt be an act of war.

    If you think it’s something that a pre 1964 dime can bring in 3.50…. 7.00/quarter and 15.00/half dollar…. imagine what would happen were that to happen?!?!?

    • TooLittleTooLate

      I doubt right now that China wants to kill the golden goose by attacking us financially but, there may be a time when they feel like it would be to their advantage to do so.

      As it is, they’re attacking us financially anyway but, just in a slow motion style of trade imbalances and currency manipulations.

      They know that most of the free world is in an economic death spiral…. who knows how anyone will react to this market anymore!?!

      The only thing I know is that I’ve never seen this world of ours seem more precarious, unstable and angry all at once. We have a blown to hell embassy in Lybia, attacks in Egypt, Israel about to attack Iran and China in disputes over an east asian island…. what could go wrong???

  • ScoutMotto

    I’ve been awake to the monetary system for the past 19 years. Since the Fed and the IRS both say that federal reserve notes are not dollars, I never refer to them as such. They are federal reserve notes. They are debt instruments with no intrinsic value. When the people stop accepting them for food, you can start burning them to stay warm.

  • Martman

    As non American I ask who gave you the right to be the dominant world money power for ever. I also do not blame other countries for trying to make their own currency worth more in the world market.
    The US has made poor choices with debt and now it is time to pay the price. I do wish you the best but your government and wall street have taken over and will give their power back without a war.

  • Bill

    At this moment it is 79.67. I agree this is significant as the spin is on other things. Events are happening at warp speed now, almost too much to follow. I think I hear that giant sucking sound getting louder. It won’t be long now and we will no longer hear the campaigners!!

  • Zoj

    The Democratic and Republican parties are 2 heads of the same Hydra, and they are both controlled by the same ruling elites, the US elections are farce. Don’t forget to stock up on your physical silver, it’s outlook is shinny.

    It’s truly amazing how history always repeats itself.

  • Mondobeyondo

    A short comment concerning the broadcast of NBC’s “Today” morning broadcast yesterday (9/11):

    They couldn’t even take one minute (8:46am) to honor the victims of that awful day. Instead, they had Kim Kardashian’s mother, talking to Savannah Guthrie about… um, female mammary glands. Trying to be politically incorrect here!

    How long is a minute? You’re right. Sixty seconds.

    They couldn’t even spare 60 seconds of precious air time to honor those who died in those attacks. But it’s enough time to talk about… boo-boos. Shame on you, NBC!!

    Okay, back on topic…

  • Elysatio

    Ruthlessly? How about proactively. If I were Russia and saw how American President Clinton had deregulated banks, signed all sorts of trade agreements and shipped jobs overseas, subsequently creating a HUGE bubble in housing, stocks, lending and hedge funds that BURST wide open leaving the US economy in RUINS; that neither Presidents Bush or President Obama dealt with effectively resulting in the US economy sitting precariously on the verge of utter and total collapse, I as Russia would sit by with my thumb up my *ss. No, I would see the handwriting on the wall and do EVERYTHING possible to save my country and people. Even if that meant making new agreements with China. Why not? The USA has agreements with China. Why is it ok for the US to have agreements with Russia and China but they are to sit by like nice little serfs and not look after their own good?? This chaos is of our own making due to greed and politicians being ruled by banksters.

    I love the United States, I am first generation American and very patriotic ( served 8 years in the Navy) but I also understand that not everything should be viewed rough red, white and blue lenses.

  • Ghulam

    Shouldn’t gutting the USA be THE priority number one for all sane human beings on planet earth? While is is wonderful to offer people a warning in this way, why would you want to do anything to slow or halt the decline? Nobody else ever built a string of nuclear reactors along the unstable Pacific ring. This and America’s extreme pollution levels make them an enemy of all life in a way that no Viking empire has ever been a threat before. Their unsustainable cities, colosseums, freeways, and airports are as ephemeral as the tent cities of the Mongol Khans. This Anglo/American one is just another barbarian empire from the north on its last legs, but one with an unsurpassed ability to poison the earth. How could any reasonable person not want it to go down?

  • uncurable wound

    GRAY STATE TRAILER!GRAY STATE TRAILER!GRAY STATE TRAILER!GRAY STATE TRAILER!GRAY STATE TRAILER!GRAY STATE TRAILER!GRAY STATE TRAILER!GRAY STATE TRAILER!

    • HecatesMoon

      Uncurable wound, I have never been good at reading between the lines BUT I am going to take a shot in the dark and guess that you’re wanting people to check out the trailer to Gray State.

      • uncurable wound

        HecatesMoon,
        Finally someone understands me!

    • margar

      It is good. I’ll pass it along.

  • weimar wheelbarrow

    As long as we have a cool president that is what really matters. The game and American Idle are on tv, these are the important topics.

  • Old Man

    The current realignment of currency AWAY from the US dollar is 100% a Made In America problem.

    US has been conducting a policy of reckless borrowing, printing, budget deficit and endless tax cuts.

    To finance an artificial high standard of living, massive military machine, financed by the world. Borrow ever more from foreigners, then print ever more to screw everybody including the same foreigners.

    Wall Street even sold billions of toxic ‘assets’ to foreigners, who lost their shirts.

    Congress absolutely refuses to address the country dire financial and economic problems. Except to ask the Treasury to borrow more, and the Fed to print more.

    This insanity, irresponsibility bordering on treason, will sink the US dollar.

    China, Japan, Europe, Russia, S America, Canada, rest of Asia, are all implementing strategies to move away from the dollar. To protect themselves. But the responsibility for failure lies completely in the US government and that private enterprise called the Federal Reserve.

  • Chris

    Well I must admit if I was China with a pile of ‘worthless’ dollars I’d be getting rid of them as fast as I could by using them to buy up assets that are real and useful such as companies etc.
    It does seem unfair that the US has this economic advantage and on that basis reasonable that it should be lost. Presumeably though if the global elite want to introduce a one world currency they have to kill off the dollar anyway to some extent.
    This would though be a massive problem for the American people who would see a massive standard of living decline. Police state being put in place in anticipation of the coming riots?

  • none

    GREAT NEWS Micheal:

    After both of our embassies where attacked by “The museum brotherhood”. On 9-11.
    Hillary Rodnham Clinton. Gave the first speech, she said that our relationships with both Egypt and Lebanon will not be harmed by a few extremists.
    Then the President of the United States gave his speech. Also stating the same points.

    Look they only shot four embassy employees and suffocated the Ambassador. If they had shot him it would have been a different matter.

  • Washington

    Published on Sep 11, 2012 by Ben Swann Reality Check asks President Obama about U.S. foreign policy that seems to fight al Qaeda in Afghanistan but support al Qaeda in Syria.
    http://www.youtube.com/watch?v=Hrerl8EwqH0&feature=plcp

  • Washington
  • islandman

    “China and Russia are not the “buddies” of the United States. The truth is that they are both ruthless competitors of the United States…”

    And vice versa. You think the West has not treated Asia like a vast resource to be plundered in the last 200 years, starting with the British and the Opium Wars of 1840’s? No reason for them to be “buddies”.

  • http://greenfuelbooster.com stmess

    The SYSTEM was design this way. It is working exactly as designed by the BANKsters. Getting off-grid is the only way you can possibly untangle yourself from the SYSTEM – that is if they do not come after you.

  • paul

    So far the Yuan is not freely convertible on all exchange markets all over the world. China is keeping the Yuan.
    The US is pushing China for ages to raise the value of the yuan compared with the dollar, which means the_US is pushing China to reduce the value of the Dollar.
    A cheap currency means easy export.
    Easy export means a more balanced trade balance, more towards trade gain.
    A strong currency means import is cheaper, but more import and less export will result in a negative trade balance.
    So, the article is giving some information, but right now nothing extreme.

  • Long Island Man

    And this should surprise anybody???? The bottom line here is that the rest of the world grew up and are tired of endless wars, crooked politicians who are in cahoots with corporations who are further dysfunctionally connected to the Federal Reserve and the European Central Bank. As the connections are forced out into the open then the issue becomes a matter of whether we will still have this ponzi debt system, which I doubt and is dying or move to debt forgiveness, the massive arrest of all those crooked bankers, crooked politicians, and crooked corporate heads, and a return of control of the money system backed by gold and other precious metals by the people and for the people. Listen people are pretty simple they want to make a good living, have a family, have a home, and live happily ever after.

    • Tall Tom

      I think that you are mistaken about the rest of the World growing up. Both China and Russia are just as ruthless as we are when it comes down to it. They are just as corrupt as we are.

      • DivisionBoy

        The only difference is that corruption in Russia and other countries stems from America. Don’t would be America’s unipolar world, corruption would be 100 times less everywhere.

    • Elihu

      I really doubt the rest of the world cares about our little endless wars because as soon as they destroy our economy and therefor our military they will be the ones fighting endless little wars to control the natural resources they need. By removing us they would just have one less country to struggle against.

      • xiou

        something is better than nothing, we’ll take our chances :)

    • Joey

      Trouble with this doom and gloom reasoning is that the other countries are devaluing their currencies just as fast. That’s why the USD retains its relative strength in spite of the money printing.

      The US still has the largest economy and the strongest military.

      Nothing wrong with having gold, but it’s mainly a hedge and a fear play.

  • paul

    The US has a lot of resources. If America develops more in regard of renewable Energy, it needs to import less oil.

    And jobs created witin

    • Rufus T Firefly

      Renewable energy is a fraud. We need to drill, drill, drill…and develop nuclear power wisely.

      • DownWithLibs

        Yes – drill, drill and drill some more. After that, keep drilling!

    • SmallerGovNow

      Do the math on “renewable” energy. Doesn’t add up. Oil, coal, natgas, and nuclear are the only way to go. Cannot get the bang for the buck for wind and solar and they would never compete without gov subsidies. And there is NO manmade global warming, only cyclical periods relating to earths orbit and solar activity… Green science equals junk science…

      • Sherlock

        Not sure where you get your claims from. Oil, coal and natural gas are all limited by supply and the emissions they produce. The consensus for man-made global climate change has existed for years. The warming trend is clear. Your comment is all wrong.

        • Alvin

          Global Warming ( and Al Gore) are the biggest frauds of all

        • 007

          Solar and wind energy are a joke. They compose less than 2% of all energy we require. It is terribly expensive and has to be tremendously subsidized. Right now we get more energy from burning firewood than we get from solar and wind energy. Like I said, what a joke.

      • DownWithLibs

        On my last electric bill, Total charges: $49.58. Guess what my Wind Power Credit was? $.29. Really!!!! Yes, we are NOT ready to be dependent on this.

      • George

        You’ve got it all wrong here. Oil, natgas and nuclear externalize all the related cost, including pollution, health care, decommissioning, military support, etc. All these externalized cost are paid for one way or another by the civilian population. If the fossil fuel and nuclear industries truly had to pay their way, the cost would be astronomical. As it is, we just die to cover their cost so they can make obscene profits.

        • Randome-11

          Nope, global warming is a fraud.

      • hans

        Bravo! It is so good to notice other brains are working.

      • beholdenages

        The problem with solar energy is that the panels are only built with about 20% efficiency in generating energy. My parents have 2 larger solar panels that generate all the electric they need with the execption of cloudy days, for which they have a generator. How did they do it? By not needing much electricity! They only power a few lights and our laptops. Once they get their wind turbine up, they’ll be sitting pretty. As for me, I’m more of a pioneer. I’m not going to have even that much, or rely on gas for any more than my car. No propane, no kerosine, nada. It’s just plain cheaper that way.

    • Tom

      Alternative energy, you keep believing in that pipe dream if you want, I have my ENTIRE roof covered in solar, while it covers 2/3 of my electric bill, that’s only for my home, if I drove an electric car, my bill would be more than before the solar went in, and CA is increasing electric rates by 8% per year, and that’s before this dollar crash comes calling. We need to develop OUR oil sitting in the ground, OUR natural gas, OUR coal, and for Pete’s sake approve the pipeline to Canada, they have huge amounts of oil and no American soldiers have to die to make sure it’s flowing. I could drive a Bifuel CNG car for $1.25 per gallon if it wasn’t illegal to convert in CA. We have the very government agency who’s job it is to insure clean air, CARB, prohibiting people from converting to ultra clean CNG, Make Sense?

    • Elihu

      If they destroy the dollar the United States would have no choice but to develop it’s local resources as oil would become too expensive. We have lots of coal, natural gas, and nuclear technology to utilize while we develop other longer lasting forms of renewable energy. It will take utilizing all our resources to survive such an event but the United States existed before our currency became the international reserve currency and we would continue to exist after we lose it. The rest of the western world seems to live comfortable lives even without being the world currency and the United Kingdom continued even after the British Pound was replaced by the American Dollar.

      • OLdFART

        Just like USSR, USA will use natural resources to bootstrap our way out after our meltdown.

  • paul

    If imported goods become more expensive, it will be cheaper to make everything by yourself, which means more jobs in America.

    Why is that so bad?

    • Jim

      It’s not just imported goods that will go up in price – we have global markets, which mean that anything that can be exported will go up in price, too. And that means everything, from wheat and corn to copper and iron…. ie, Americans will pay more for everything they consume.

      It’s true that American workers will be more competitive, but there’s no magic to how this will come about – they’ll be cheaper to employ because they’ll be being paid less. Not nominally, but in terms of the purchasing power of their wages. So employment may go up, but everyone will be being paid less.

    • Tom

      Because we didn’t loose our ability to manufacture goods overnight, so we won’t regain the ability overnight. If we started right now, it would take us ten years to build our manufacturing base back to 50% of what it was. And WHAT are we going to eat in the meantime? almost half our food comes from other countries now.

  • RealityBetraysUs

    Gold will only retain it’s usefull value as long as there is a civilized society to back up it’s value. Once there is rioting in the streets and all hell breaks loose you won’t be able to eat your gold to survive. Better have some food stored up and water, if society breaks down, your money ain’t gonna be worth crap! Talk to pawn brokers right now and they will tell you they are only interested in gold jewelry and guns they don’t even want to bother with traditional items of pawn shops. If anarchy reigns, money will be worthless, and only food and life sustaining supplies will have any real value…Remember the government can print all the money it wants, but they can not print the confidence to make the money have any value…..

    • http://lnx-bsp.net/ Tel

      Pick up a history book, thumb to a random page, choose any kingdom, city-state, or empire, anywhere around the world.

      Did they regard gold and silver as valuable?

      • Atilla77

        You world is over Tel, your gold will be no good here.

        • http://lnx-bsp.net/ Tel

          This time is different right?

      • Alvin

        Can’t eat it but you sure can trade it for something valuable.
        Try trading a share of “Goggle” or “Facebook” for food if the market is closed.
        Gold is not the end all, but it does retain it’s value over time and can be used
        almost anywhere in a trade. Of course you can always use future $100 bills as toilet paper.

    • SmallerGovNow

      RBU, you are wrong, I saw it in East Germany when the two sides were still divided. Paper currency was nothing and could buy you nothing of value. they wanted gold. you assume there will be a complete and total break down which will not happen. there will be some government and black market underneath where real stores of value are exchanged…

    • Gonzo

      Gold is always a top worth asset, whether there is riots in the street or not, doesn’t matter at all.

    • Tall Tom

      You believe that everyong is going to be a strak raving lunatic when the collapse happens. That will not be the case.

      Some, i grant you, will turn to criminality. But what happens is that people actually survive. Others even prosper and thrive during tumultuous times.

      An event that will stll happen after the Dollar dies is that people will still want to trade. Barter will be the order of the day.

      As cigarettes NATURALLY became the underground currency in the prisons (DEMAND was high, and they were the least common denomiator, while the Wardens did not sanction it) there will, once again, be a commodity that becomes the least common denominator.

      That commodity, historically, has been Gold and Silver. Everyone knows that they have VALUE and can be traded to others for items because they know the value.

      Thus NATURALLY Gold and Silver become Money. They will replace the US Dollar. It is just the way that it works.

    • steve

      Society will not remain chaotic forever. Eventually, some form of a recognized currency will emerge, even if it takes decades. It will, as always, start out as a hard currency. Gold and silver never stopped being money, we just became forgetful of the rules of history and economics for a few years.

    • Mondobeyondo

      No, you can’t eat gold (or silver either), but there are plenty of people who would love to exchange your precious metals for their food and other commodities, if the price is right (apologies to Bob Barker). Here’s just a few of them:

      Any farmer in the Midwestern U.S., grocery stores, J.C. Penney, any farmer’s market, McDonald’s, Tiffany and Co, Macy’s, Quaker Oats, Sears, Red Lobster, Applebees, any Mexican food establishment with the surname ending in “berto”, Saks Fifth Avenue, your local food bank, the Salvation Army… the list goes on and on and on and…

      So, you could live like Louis XVI if you had enough gold and silver. Unfortunately, I, along with so many other people, learned that lesson rather late in life. *sigh* Now I have no “money” left to buy any real money.

  • http://PeterPalms.com/banking Peter Palms

    The fifth edition of “The Creature from Jekyll island” published September 2010. It is the 28th printing summarizes this 99 year history of the fourth Central Bank of the United states in 600 suspenseful “who dun it” pages including the list of all the central banks in the world owned by the Rothschild family, which is all of them, except North Korea, Cuba and Iran. Iran also wants to be paid in Gold not dollars for its oil, as did Iraq before the war. The first three central banks of the USA all collapsed as do all fiat banking systems and fractional banking. I started reading The Creature at the time of the fourth edition, June 2002, 13th printing and most of the predictions have already come true. By 2010 it had risen to $202 trillion when all liabilities are counted. At that time one silver and gold backed dollar would have been worth 213 Federal Reserve notesbased upon the total number of gold and silver held by the government. The 2012 silver dollar would be worth a lot more Federal reserve notes.The book outlines the 16 steps for eliminating the Fed. and retuning to real money.

    • Michael

      The Creature from Jekyll Island is a great book. I hope that everyone gets a chance to read it. If you don’t have a copy, you can find it right here.

      • OLdFART

        Ultimate posthumus face slap–Andrew Jackson’s picture on a $20FRN. He killed the Federal Reserve of his day.

  • Mel

    It is very simple.. 1 you have a bank account, 2 you over spend,( trillions ) 3 no more money, 4 you go bankrupt.. lose everything..this is what the US is doing..we are at stage 4.. the other country do not want to lose everything..so lets buy GOLD ..so when the world fall apart..we will be safe..we will be able to feed our people..every seen people when they get hungry ? Not a pretty sight

    • TRUTH

      naw you will be massacred if you are a white illegal on indian land!

  • http://lnx-bsp.net/ Tel

    They don’t like that the United States has a built-in advantage of having the reserve currency of the world, and over the past several years both countries have been busy making international agreements that seek to chip away at that advantage.

    That is totally unfair. China was perfectly happy to allow the US dollar to be the world reserve currency, they were happy to operate on a fixed peg so they remained stable in relation to that reserve currency… and if you think about it, suppose silver or gold was to become a neutral world currency it would be absolutely no different to a fixed rate peg anyhow.

    China was also perfectly happy to use US dollars as their vehicle for saving, buying US treasury bonds.

    What they didn’t like was the QE where new dollars were printed, thus devaluing Chinese savings and forcing them to allow their fixed peg to slip. They said at the time this was equivalent to a default, and they were 100% right. It was a default. Now China seeks alternative options, buying precious metal, making bilateral agreements, and whatever. They gave the US dollar a fair chance, found that it didn’t do what they wanted, so they look for something else. Nothing nefarious about that. If the US had lived up to the promise of providing a stable reserve currency, everyone would be happy with that.

    • Atilla77

      You know, sick of pretend American guys like you, China has been devaluing their currency even as you speak your anti American garbage. They steal and manipulate every thing in sight. Now you want to cry foul because the Chinese are stupid, peg Tel, you may be able to get away with this on this blog but I know what a fraud you are.

      • Randome-11

        You are just projecting US policies uppon China, there is no one else manipulating, stealing and lying as much as Washington, Bruxelle and London.

        It is the US that have been devaluing its currency by far the fastest, inflation have been far higher than offically stated for many years.

      • http://lnx-bsp.net/ Tel

        Pretend American? I always thought Australia was completely different country.

        Admittedly a lot of Australians do behave like they are pretend Americans, but I’m pretty careful to make my own mind up what I stand for. Maybe you should ask yourself what you stand for?

        Do you support everything American, just because it is American. Have you considered that the America of today is nothing like the America of 50 years ago, or the America of 100 years ago? If you government is screwing up, are you supposed to noddy along, or do something about that?

        Your problem mate, everyone else just deals with the fallout.

        • Atilla77

          First, I’m not your mate. Second, Australian, that does explain a lot. You “mates” feel you got a little something to gain with a Chinese superpower don’t you. Kind of like you guys sneaking around behind our back using American military equipment and training with the Chinese. Maybe you should ask yourself what your ancestors stood for, from my understanding not much, I know exactly what I stand for and my country, keep your opinions in Australia where they belong.

          • Randome-11

            Face it, it is your governement, federale reserve and its cronies that are manipulating and stealing everything in sight, not the Chinese gov.

            They are the ones devaluing their currency, by printing tens of trillions of dollars so they can live at others expense.

          • Victor

            Wow, what a stupid post. You realize the Internet is global don’t you? Additionally, you realize that the US economy is large enough to affect all other economies don’t you? Your collapse IS our business.

    • TRUTH

      naw it aint unfair what’s unfair was when you white illegals invaded Indians in 1492 do you remember that? ya just what I thought speechless!theres a price on your heads by everyone across the globe now!

  • ALICE

    We are destroying our own currency with the policies of the past 30 odd years….You just don’t want to bite the bullet and do whatever is best for our country…Keep up the print,borrow and spending until we implode…Our future is in our hands, and we just refuse to change course, We deserve our future…

    • TRUTH

      go real estateyour bumhole and make a worthless 1 dollar that’s all you worth if even that alice in indianland!

  • RICH99

    They keep saying soon enough when in reality its many many years from now !!!!!!

  • Washington

    House Approves Sweeping, Warrantless Electronic Spy Powers BY DAVID KRAVETS 09.12.12

    http://www.wired.com/threatlevel/2012/09/house-approves-spy-bill/

  • http://http//irishsavant.blogspot.com Savant

    My understanding though is that the proportion of international trade conducted in dollars has remained more or less the same for the last 20 years.

    • Gonzo

      It had been so, but in the last few years that has changed and the trend is clear: The dollar is well on its way out as the world’s reserve currency. And for very good reasons.

      • TRUTH

        HAHAHAHAHAA and with that soon white trash will be as well WOOOOO HOOOOOOO!!!!!!!!!!!no more annoying smelly oppressive cancerous leeches. I hope you all die and get nuked!in white areas and ONLY white areas!

  • Kirk Kovacks

    Snyder: Right now, the U.S. dollar is the primary reserve currency of the world

    outstanding.debater: Wrong! There is no US dollar, and has not been any since Dec 23, 1913 with the passing of the “Federal”-Reserve act.
    The “Federal”-Reserve note is the primary reserve currency of the world.
    And it is not 1 currency but 12.
    Each of the 12 private “Federal”-Reserve banks issue their own currency.
    With Federal”-Reserve notes printed on paper you can tell which bank issued any given note, by a code to the left of the portrait of the American hero. But with Federal”-Reserve notes that live in computer data bases, it is more difficult to tell. Nevertheless any given note is the liability of any one of 12 different private banks.

    The only thing American about private “Federal”-Reserve notes is that they are our only currency. We use them exclusively and have no national currency of our own. Whereas other nations use private Federal”-Reserve notes as a secondary currency, but have a national currency of their own for backup. We have no backup. We have more to lose than other nations should the owners of the private “Federal”-Reserve notes decide to
    discontinue their product.

  • Sea Jay

    Green Energy????? You would need 7,000 wind turbines to equal the Kilo watts of Hoover Dam , tp power the entire globe with wind power you would need 52 Million wind turbines!! Do you greenies now see just how ridiculous your ideas are?? Telsa had the answer , the FBI confiscated all of his paper , the answer is out there but is being horded by a criminal government ! Hell the US and Canada have more OIL under the ground than all of the Middle East!!! Just drill if you want oil!!

    • Randome-11

      Green energy is a scam.

  • http://---- bob D

    regarding above facts about Russia-China, and most other nations and their folks, buying all the hard gold they can get their hands on and storing the hoard wherever is safe

    however, seems the experts are missing the best game in town,,,,

    the five guys who selected obumma-101 to be usa-pres and now see he is an error, a disaster, and want to get rid of him, they are using their worldwide central bank consortium to jiggle numbers and feats and especially hard gold…..

    note they have let obumma-101 take the credit for bankrupting eurounion, and other nations, and causing civil unrest, etc, esp obumma-101 sticking his nose into egypt and libya and now syria and soon into israel, unless the five guys can get Romney elected and or if obumma-101 gets re-elected then to otherwise get rid of him

    this is not for fun nor merely to correct their error it is past the time of no-return since the world economy is kaput and getting worse and soon will result in blood in the streets

    thus does not matter that Rus-Chin are evolving their world central bank and world currency (yuan),

    because soon as obumma-101 is gone, as above, then Rus-Chin will be the next takeover, again,

    by ‘Fed Res Syst Bernanke’ as the #2 boss of ‘the world central bank consortium’,

    who will manipulate all nations via the vast hoard of sovereign bonds held under Bernanke

    who will milk the nations and their business folks into oblivion,

    thus scoop up all the goodies otherwise in the hands of other nations and their business folks

    o well, the world as we knew it was nice while it lasted, now it is being converted into blood in the streets,,,,, -end-

    • TRUTH

      it wouldn’t have made a difference because republicans are the worst out of the two when in comparison we don’t want Nazis on my soil GET OUT! we will ALWAYS vote for democrats so you can go to hell!

  • http://---- bob D

    #2 of 2 of today —

    a tad more about gold hoards etc ::

    as Bernanke, as above, takes over more nations and their business folks as to how they operate
    (quasi-nationalization)(quasi-worldalization),

    gold becomes merely a collectable and will be taken off market except for personal use as adornments

    how does this work???? you guessed it, the trade good at one end of all trades will be world fiat, as issued by Bernanke the whiz kid,

    and given to favorite nations and their business folks so long as they worship at the alter of FRS and Bernanke the guy on the throne

    even now, he can control fiat via making all trades be done electronically, all all all, thus you wont have pennies to jingle in your left hand pocket…..

    so what?

    well, soon Bernie and his boss and his worldwide gangs controlling fiat and gold and everything else will get lazy and make mistakes and soon they will become a small footnote on some obscure history book

    and then?

    yep, you right again, then all trades thus all worldly behavior will again be hand to hand or as they said in the old days face to face ….

    which means, then the good times roll again, and there will be a chance for room and board and a tad more by anyone willing to work for his keep…

    no, this is not a make believe story, it is so written, you just have to know where to look to see the writing on the wall and everywhere – cheers

  • Rev holder

    Reading the comments about China And Russia confirm what Shane Perry On That Supernational with Sid Roth talked about a couple of months ago. Go to youtude to see the broadcast a couple of months ago. He said that the us dollar is not going to worth nothing and we need to buy silver not gold. I agree with Mr. Palms about the value of silver. we need more forum in the church to talk about what is going on the world versus scriptures in the bible. People is afraid to talk about things like this and then they want to panic when things starting happen when they were foretold months in advance. God bless you for the the information.

  • ZENmud

    I didn’t see any analysis, describing how the ‘rising value of Gold’ is relative to the currency purchasing it.
    If the USD is losing value to the CHF or EUR, then the ‘value’ of gold in dollars is obviously going to rise. Yet is this being sold, to investors, as an ‘increased value’ in the gold itself?
    Hypothetically: a European could be seeing ‘Gold’ rising 5pc in EUR, whilst the American sees that price rising 10pc, simply because the USD lost value against the EUR.

    correct?

    • Rory Hayes

      I buy gold now as much as possible in €
      The thing is,as gold appreciates,the value of the $ collapses against the €.
      So,if I sell my gold sometime in the future, the weak $ is the reserve currency and will have weakened as the $ price of gold goes skyward.
      Then when I convert back to € the appreciation of my gold value is dissipated by the exchange rate. I am therefore no better off.
      What’s the point? Other than to preserve the purchasing power of the gold,there is no advancement of wealth after the exercise! Rory Hayes

  • Randome-11

    The dollar as an exchange currency makes the US much wealthier but this wealth doesn´t come out of thin air, now does it?

    It comes from others, it makes non-US populations poorer, the economy of the entire world has been weakened by dollar printing.

    Even more, this mean there is no truly “free trade” because the primacy of the dollar forms a relatively controlable global taxe on trade. The more international trade there was, the more income received from that taxe.

    This income raised living standards for the US but it lead also to large-scale cronyism and corruption instead of going into things that gives a return like nuclear power stations or factories.
    This destroyed large-scale free enterprising, “contacts” in the governements, schools, medias, central banks and those companies compromised to them became more important than producing/working/innovating, which along with the lesser level of discipline and skill of the baby boomer majority, lead to “service economy” and “post-industrial society”.

    If this taxe hadn´t been eased, it would have stifled world trade even more, forcing down profits for the federal reserve.
    These profits are needed to maintain control, keep the lid over society and since producing/working/innovating, real competition have been secondary for so long and motivation for competition is increasing, this control have to be stronger than ever before and must become stronger in the future for the system built around the federal reserve to survive.

    Crushing small businesses is a double necessity, first because they are a danger, second because the system needs more revenues to keep its scheme running.
    It is like a truck or train that has to go faster and faster to avoid crashing, the faster it goes hovewer, the harder the crash would be and for the driver, the time for a soft crash have long gone past and the only remaining chance is with higher speed.

  • jhon

    QE3 Forever!!!!!!!!!!!!!

  • Grizzly907la

    We need to remember who is responsible for creating this problem when the collapse happens, seek them and make them pay. A lot of us are not going to make it. I pray that I can exact some justice on the responsible parties once the collapse happens and before I go.

    • Victor

      Thanks for your post mr. psycho.

    • TRUTH

      you white? you on indian land you all will PAY!

  • DEFCONStudios

    Michael,

    Will you do an Article about QE3 because it seems very soon the way QE3 is headed (QE Forever) Hyperinflation and Dollar debasement will be complete.

    • TRUTH

      EEEEEXXXXXXXCeLLenT! OUR PLAN IS UNDERWAY! HAHAHAHAHAAAAAA!!!!!!!!!!!!time to rid white alien cave apes for good!

  • http://basspig.wordpress.com M. Weiss

    The immediate short term problem I see with this 3rd worldization of the US economy is that private sector wages are going down, while public sector are going up. Given that public sector is funded largely through the fraud of home ‘ownership’ being actually home custodianship rented from the government, I see a lot of shocked families who thought they owned their homes, becoming homeless due to property tax auctions when their declining incomes no longer keep up with public sector wage demands.

    • TRUTH

      you better start listening to MegadetH the song entitled FORECLOSURE OF A DREAM! because that’s what’s going to happen that’s even if you own a house HAHAHAAAA!!!!!!!!!!!!

  • JWB

    Keep driving your cars, you stupid morons, keep wasting fuel, keep sending jobs overseas, just like the good little right winger fascists you are….and thanks for all the smears towards progressives. You people will never get it. Drill, pollute, GMO the place until autism explodes, bomb Iraq, bomb Iran, you are not men, you are impotent robots made brave by the automobile. Guess what tough guys? 30 plus years of Reagan paranoia did NOTHING to improve our security, it broke this country, and the Fox News generation has no FORESIGHT. When your false freedom is defined by SUV’s, the NFL, and Ted Nugent canned hunts, you reap.

    Progressives predicted all the disasters set to happen, but no one listened. We pushed for energy change, we pushed for domestic infrastructure and manufacturing, a farming revolution, for educational funding, for Wall Street regulation, only to be smeared time and time again as “liberals”. You guys never promote or support ideas like employee owned business, labor, conservation ( Izaak Walton, anyone?) when it comes down to it, because it’s easier to cry “socialism” when a few dollars in taxes are involved. And before you go all Mises, remember JFK wanted to address this before Rand Paul and his Civil War surgeon daddy ever saw the the honey pot microphone of Alex Jones.

    • Randome-11

      So why you guys depends on right-wingers for your monthly tugboats, then?

      You are no vbetter than them, in fact, you are even worst.

    • christopher manny

      Nice diatrible. Wipe the spittle off your shirt and repeat after me: i am somebody. I am liberal, i have self-esteem. lol

  • robert

    As long as private central banks run 90% of the countries of the world and petroleum is trading in US dollars then China and Russia can change nothing except start a war which is possible.

    Sorry to throw water on all the US dollar reserve being replaced crowd however the fact is the Euro is toast and the Ruble and Renminbi will never replace the US dollar.

    • TRUTH

      THANK GOD! you thieves are finally going to get what’s coming to you! HAHAHAAAAA!!!!!!!!!

  • Washington

    US Democrats Apologized for Russian Warships 14.09.2012

    http://rusnavy.com/news/navy/index.php?ELEMENT_ID=15916

  • SEAL

    Russia and China are merely operating in their own self interest. I just wish America would operate in our self interest and get rid of the Fed. The Fed is the problem in the debasement of the dollar, not Russia and China. American leaders of both parties just don’t want to take the blame for what they have done to keep their jobs so they blame others. Our leaders will not allow any financial pain to come to the voters, as is needed, because they will be thrown out of office if they do. Americans are about to reap what we have been voting for since the Fed was founded. Our leaders will go on kicking this can down the road until the collapse happens.

    I have bought gold, silver, food, lead, and the weapons to use that lead. I have a gravity fed source of spring water for my concrete home. I have taught myself to be as self sufficient as possible. I hope you all have been planning ahead also. I wish you all good luck when the SHTF.

    • TRUTH

      you white? you are illegal in America and you people will be the first targets the world is 2 thirds non white by the way.what’s the point you will end up dying any ways don’t forget you aint the only guy with firearms.try killing the masses have fun with that im pretty sure you will have a nice wait time while reloading.

      • jimdep

        bring it on mulatto!

  • Caz

    The net effect, no matter what our policies in the USA, is that Americans will have to stop living lavish lifestyles that they can’t afford. This includes cutting back on energy. Stop keeping the room at 65 degrees in the summer, and 85 degrees in the winter and learn to live with nature better.

  • o_0

    Isn’t the root of the problem the fact that the US based it’s economic stability on salving other countries with their currency?

    they just had to try and get out of it some day

  • jasper

    7 billion people in the world,how do you feed that

    • TRUTH

      wipe out the whites who are not Russian and wipe out the muslims there problem solved!

  • paul

    If the author is assuming that Russia and China are allies he is making a big mistake. China is currently involved in the wholesale colonization and purchasing of the Russian Far East, where Russia’s population has declined 20% since the fall of the Soviet Union. The Far East will be Russia in name only within 20-30 years, with the mineral wealth flowing directly to China. By that point Russia will have lost the North Caucasus as well.

    • TRUTH

      doubt it. IndiA is allies with RussiA. Vietnam doesn’t like china and japan doesn’t like china they are having territorial disputes. china wont do anything to take Russian land

  • Austin

    The US has had an unfair advantage for too long by the US dollar being the worlds reserve currency. With that advantage gone forever your people will have to work very hard to survive. The immigrants will go back home to greener pastures and will not clean your toilets and swimming pools any more. It might be so hard that your swimming pools will be converted to fish ponds for your survival. It will be good for you to be humbled and to finaly join the rest of us. We are all brothers and sisters of a single planet. The economic system we have is destroying the planet and it is also destroying the American people and government who have become spoined and corrupted. Don’t worry, we will send you aid when you need it most, and we will care for your masses when they come to us.

    • christopher manny

      And you will beg the US for natural gas.

      • unknown

        it is arrogant fools like you exactly why this is going on yea i live in america and i kinda hope it does crash and burn this country has been running off racial oppression and imperialism for way to long someone or something needs to put this country back in line or we’ll be dealing with ww3

        • christopher manny

          Oh sure, and yet we have a black president. Oppressive country, sure. Whatever.

          • TRUTH

            he is half white dummy!half Kenyan half white

        • TRUTH

          not bad because whites ill LOSE! their self entitlement will be the death of them.look at Ontario Canada with floodings. gods telling whites to take a bath or die trying HAHAHAAAA!!!!!!!!!!whites and their hereditary cancer will die with whites finally soon we will incinerate the remains and not place it in museums.not priceless just worthless

    • Scotty

      Barrack Hussien Obama, posting in his pajamas again? Go back to bed with the wookie.

    • TRUTH

      no! whites will be extinct mor genocided by then nice try though! only people survive will be Russian and that’s it. its great to know that the failure race of white trash are going to be wiped out for good finally. there is no compromise you must be wiped out!and I know you will fight and then you will die!hue means color by the way human means person of color

  • Empty Chair

    Yes even in dark ages war and famin, man sought for and killed for gold. From ancient kings to blinged out crime leaders, it has always been treasured. In the short run I’d want food and ammo, but there will will always have to be a medium of trade. You keep your fiat paper, I’ll take gold and silver like they did for thousands of years before me and thousands after…

    • Scotty

      ammo and mini bottles of jack daniels to trade with.

  • poor college kid

    Does anyone know who originally posted this? I would like to use this for class project for a sociology of media class.

  • xiou

    it is funny, you people have put the world in to poverty and that was kool. we chinese have suffered poverty for decades now its our turn to have fun. being white doesnot make you superior humans! watch “confessions of a economic hitman” and you’ll know why you were so rich and the rest of the world was so poor. wat goes around comes around. all men equal! US isnt collapsing the earth is balancing its self. us=bully corporation vs rest of the world=innocent people, ur dirty game back fired

    • DownFUCKENunder

      I’m not American, but without the West you Chinese would still be living under a Manchu Emperor.

      You’ve had to “learn from the barbarians” – The West is the master, the Chinese the cheating student about to fail.

      watch out for the failing student, they’ll lash out attempting to save “face”

      …and if you take “confession of an eco hitman” as the truth… then you probably think that Chairman Mao did a great job in leading the Great Farmers’ Revolution. And that the Cultural Revolution and ’89 are just Western propaganda.

    • Scotty

      Barry Soetero, how did you get on here?

  • Econman

    Basically, when the monopoly money Fed notes lose reserve status, the USA is done as a superpower & the economy will completely collapse.

    Why else would the Department of Homeland Stupidity be buying billions of rounds of hollow point bullets, enough for shooting every American twice?

    It’s inveitable. Why should the rest of the world sell precious goods & natural resources for fake money?

    • Scotty

      Then we’ll finally start pumping our oil reserves. Here’s what you do, switch the economy to diesel and natural gas, pump oil, and freeze government spending. Phase out Social Security and Medicare, and Health Saving and Retirment accounts.

    • TRUTH

      ya that’s awesome and did you see the millions of black caskets! those are meant for white false patriots who are illegal in America that would be british,french,germans,irish the insects of this planet which need to be annihilated.

  • Nalliah Thayabharan

    China and Russia know where the USA is headed in its relations towards them. USA will never voluntarily give up the delusion about itself as “master of the universe”.
    Obama already is about to pick Susan Rice (US Ambassador to UN) to replace Hillary Clinton as Secretary of the State. if Hillary Clinton was a “war hawk” — then Susan Rice is much more so …
    George Bush “merely” opened the current and foreseeable US “war on the planet forever” — Torture, renditions, spying, militarism galore, Obama expands them
    Susan Rice notoriously known for “undiplomatically” “reprimanding” Russia and China months ago for Refusing to join in the “regime change” in Syria calling Russia and China “evil” for doing so while she was glaring in her own inability to hide her fury in the UN because “BLOOD LUST” of her and her Zionist puppets’ in Washington can’t get “support” from Russia or China.
    Obama has already repeatedly signaled to China and Russia – THEY are to be OBEDIENT to the USA or else”.
    In spite of the fact – unknown or unacknowledged perhaps to most of the US citizens, including their leaders — that the MOST IMPORTANT leadership “changes” or “continuities” in the past 2 years – are those in RUSSIA bringing back Vladimir Putin — and CHINA with its new and highly competent “seven-member” politburo ruling council.
    China’s communist party decides its selections — the fact remains that members of the politburo ruling council are the result of decades of “tests” from their original grass-roots level positions to “provincial regions” posts — to repeatedly prove they handled their assignments properly — in economics, social science, public administration, law, etc. In short — HIGHLY competent members of the politburo ruling council — next to whom — the leaders of the USA are cartoon characters by comparison. Members of politburo ruling council will NOT be intimidated by the USA …not by a long shot.

  • Muscovy

    Not all men are equal, just at anything to see that but all humans deserve an equal chance

  • Muscovy

    Mao sucked at nearly everything but empty promises and smiling, at least Stalin actually built a powerhouse but Mao Mao couldn’t even build a factory after murdering all his educated people in Cultural Revolution

    • Chris Barcelo

      Stalin built a power house? Maybe if his house is all that mattered. The citizens didn’t get to share in any of that ‘greatness’ and were murdered as well.

  • 1961mjansson

    Petrodollar no more! A sheep no More

  • HAAHAAHAA=P

    excellent ! time to paralyze America where it hurts the most! get rid of dollar HAHAHAAAAA!!!!!!!!!!!and then its just a matter of time all hell breaks loose! serves those illegal white terrorists right for being on indian land north America. this way is best then when martial law comes in the American white illegals will be stuck in America and have their travelling visas freeze and unable to leave the country and will have someone knock down their door and loot from them and send them to concentration camps while all phones and internet services are out. HAHAHAAAAAA!!!!!!!!!!! then they will get ataste of what they put native aboriginals through since 500 years

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