No Return, The Time Has Come

A Dying Currency

The United States Dollar
The United States Dollar | Source

Deficit

OK, it has just about reached the point of no return.

Now that the Federal Reserve has said that they will print an additional $40 billion a month indefinitely, it marks the time that the dollar will come to an end.

This is $40 billion per month on top of the $41 billion per month that the Government asked for, yet none of these notes that are to be printed have any worth behind them. Not Gold or any other commodity, it is just produced out of clean air.

This happened before in Germany and Zimbabwe and on each occasion the currency dropped so far and so fast that the people had to take wheel barrows full of notes, just to buy a pack of bread.

For the Federal Reserve to say that this is the only way they see to get out of the deficit situation is by itself a death toll.

Austerity

The United States has got itself into trillions of dollars of debt and cannot now stop the momentum. These so called economists point to Greece and the like and say that those are the people who are responsible for America’s woes. That though is only smoke and mirrors. As the supposed leader of the free World, the United States led the way in the strategies of the free market, the others merely followed.

The difference is though, as these countries were part of the European Union, the Union said enough is enough and told the countries that they had to take strict austerity measures before it was too late. There was no one though to tell the US.

The American fiscal leaders did know though but could see no other way of stemming the flow, well at least not without them losing their status as the countries elite. The politicians did not want to put in place austerity measures, as they knew that it would be their own political suicide and in the true tradition of American politicians, they put themselves before the public. The rich bankers, the nameless elite that are truly behind the US governments every action, knew what was coming but for them it was only a case of delaying the inevitable long enough to secure their own wealth in something of real value, not the US Dollar.

Now that the elections are over and the elite have secured their own funds, it is time for them to now let America continue forward with no brakes. Always movement without brakes will result in a crash and the size of this debt and the speed at which it is increasing means there is no option but for it to result in a crash of catastrophic proportions. Still, the elite will be sheltered in their “off shore” accounts.

Power

The dollar is the last thing of America’s once great power to fall. Already its huge deficit has eroded its power within the world of politics.

At one time the United States could put financial pressures on countries to “tow the line” with American wishes but not any longer, in fact they have made themselves prone to being pressured by others.

An example would be China.

If China alone said it was going to “cash in” its US dollars: Then the dollar would crumble.

Given that this situation could be applied to an increasing number of countries, the dollars demise must be certain.

Already perhaps Russia or even Mexico, to whom the US owes more to than is owed to by, could meet the China potential.

Add to that the military power of the US, in world terms, is diminishing and it shows the US is in decline. The US likes to complain that China is increasing its arms expenditure at far too fast a rate. The truth is that China is not adding any of their own money to arms expenditure, they are only spending the interest paid them by the US on arms and it is that that is increasing alarmingly.

The United States asked other countries not to trade with Iran.

In the past, countries that have traded with other countries, against the US wishes have been penalized by the US because of a unilateral decision by the US that countries must abide by US wishes when trading in their dollars. This now has backfired. China, Russia and now India are buying Iranian oil but to avoid, even the protest of the United States, they are paying for the oil in Gold.

This is the start of a trend that will surely increase and as it does so, the dominance of the US vanishes.

The collapse of the US dollar is eminent.

The elite of the country are aware of this and they are ready, having secured their wealth in things other than American paper money.

Have these same elite though, through their ownership of the western media, warned the American public?

The answer is no because to do so would diminish their own sense of power and affect their own ability in so easily diversifying their wealth.

Although these elite have shown great passion in becoming the elite of this great American nation, they are truly showing where their loyalties really lie.

They are loyal to their wealth, not their nation.

They are loyal to their buying power, not their currency.

Most of all though, these elite are loyal to their selfish egos not to ethics or to the common people.

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Comments 3 comments

CHRIS57 profile image

CHRIS57 4 years ago from Northern Germany

Are you saying that there is 12 x 81 (40+41) Billion of USD printed out of thin air? That is roughly 1 Trillion per year or 6% of GDP.

Now, if that is not a coincidence, how about that? Of the 6% of GDP some 4% is needed to pay for all trade deficits and some 2% is left over to keep pressure up in the bubble, to create "unfunded" GDP growth.

While the 2% is kind of an internal affair, something that can be buffered by inflation, the 4% are external and that puts the US at the mercy of the friendly world in the neighbourhood.


rafken profile image

rafken 4 years ago from The worlds my oyster Author

nicomp - Like many, I think you are misled. There is not another side. It started as you said but the money "backing" was China and the like but they have stopped "buying" the US debt. From the start the Fed told banks that they could lend out 10 times anything they had and the Fed did the same. It is only now that the Fed are saying that they will print money regardless of what they may have or have backed. This is in a last ditch attempt to stimulate income, however the US has already reached a point where few countries have confidence in the dollar and as Americas own wealthy are scrambling to desert a sinking ship, I think it is far too late for this. The only thing that may save the US is if NOW they take austerity measures and start to slow down the speed of the increasing deficit. That at least, may give countries and the wealthy a glimmer that there may be some hope. To procrastinate and delay any longer, will certainly result in a crash. The US must stop the party politicizing and stop the sucking up to the self enforcing "elite" and get down to basic money management. Agreed, it may cost the politicians their jobs but at least it could save their country. It is past time that the politicians stopped sending their countries brave young men off to fight in order to protect or increase the elites wealth and grew a set themselves in order to stand up to the elite. After all, it would only be their political lives they put on the line, not the actual lives that they ask the young to give.


nicomp profile image

nicomp 4 years ago from Ohio, USA

To be fair, this money is 'backed' by what has been borrowed and the fed is not giving the money away. They lend it to banks. You should explain both sides of the balance sheet.

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