Skip to comments.Guest Post: Has The Perfect Moment To Kill The Dollar Arrived?
Posted on 08/07/2012 7:31:48 AM PDT by bt_dooftlook
The idea of collapse, social and financial, comes with an incredible array of hypothetical consequences ranging from public dissent and martial law, to the complete disintegration of infrastructure and the devolution of mankind into a swarm of mindless arm chewing cannibals. In an age of television nirvana and cinema overload, I have found that the collective unconscious of our culture has now defined what collapse is based only on the most narrow of extremes. If they arent being hunted down by machete wielding looters or swastika wearing jackboots, then the average American dupe figures that the country is not in much danger. Hollywood fantasy has blinded us to the tangible crises at our doorstep.
The reality is that collapse is not a singular event, but a process. It is a symphony of doom, composed of a series of exponentially more powerful crescendos. If the past four years since the implosion of the derivatives bubble have proven anything, it is that catastrophe has the ability to drown a nation slowly like a river of molasses, rather than sweep it away like a flash flood. That said, almost every recorded collapse of modern societies in the past century has been preceded by a primary trigger event; a moment in which the mathematical certainty of failure becomes clear, even if the psychological certainty is muddled...
(Excerpt) Read more at zerohedge.com ...
There is an image in the article of a slow flood of molasses rather than a flash-flood disaster...will be smothered and drowned slowly rather than be swept away with high drama...
"A large molasses storage tank burst, and a wave of molasses rushed through the streets at an estimated 35 mph (56 km/h), killing 21 and injuring 150."
removing the dollar as the world reserve currency will have immediate and devastating effects on our economy.
First and foremost...the world pays for oil in dollars. We have the leverage where we can(and do) print dollars to pay for oil.
That goes away.... see here for an oldie but goodie: http://crooksandliars.com/ian-welsh/what-dollar-going-oil-means
And move to what? The Euro? Seems unlikely.
I was thinking about this literally not more than ten minutes ago.
What happens when (not if) the dollar stops being the reserve currency?
Beyond that, SHOULD the dollar be “the reserve currency”?
Now let me say right now in no way am I doubting American ability to invent or create or manufacture or deliver things the world needs.
But the more I think about it, the fact that there is this single “thing” that can be postulated upon (think Bonds and hedge funds and derivatives) is what is getting us into the deep end... these guys are speculating... if you remove their basis for speculating, then they have to start dealing with the present, with the reality, not the future.
Putting the kibosh on the USD reserve currency status would bring DC politics, as we have come to know and be disgusted by, to a screeching halt.
Despite the suffering in would induce, it would almost be worth it to watch the pampered elite’s world fall apart before our eyes.
“In 2012, we still await that trigger event, which I believe will be the announcement of QE3 (or any unlimited stimulus program regardless of title), and the final debasement of the dollar. At the beginning of this year, I pointed out that we were likely to see such an announcement before 2012 was out, and it would seem that the private Federal Reserve is right on track.”
The author thinks this trigger event may happen in September. After reading yesterday the latest report on Iran being closer to a nuclear bomb that thought, and Britain, France, Germany, the US, and Israel agree on this, Israel may attack Iran in September or October before the general election.
If you aren’t a prepper, perhaps you should be. Prepare.
Finish reading those links at home tonight BUMP!
Not going to happen. Because of new fracking technology the US has added oil and gas reserves worth over 100 trillion dollars. Both Citibank and BP have said that they expect the USA to become energy independent within 10 years.
Lets put this simply. Energy independent countries have strong currencies.
That’s why gold has topped out.
Absolutely everyone around the world has figured out that oil fracking technology has changed absolutely all the underlying assumptions about the USA and the dollar.
The sooner the guys at zero hedge figure that out the better off everyone will be. What’s more there is an enormous stock market boom just around the corner.
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