The American Empire is Now Bankrupt: This week marks the end ...

[fiziwig]

..."This week marks the end of the dollar’s reign as the world’s reserve currency."

http://www.truthdig.com/report/print/20090614_the_american_empire_is_bankrupt

Big meeting on the future of the world's reserve currency, and USA was NOT invited.

[Armageddon]

 

 

 

[thethirstmutilator]

http://www.youtube.com/watch?v=ESidBrr2cxk (External Embedding Disabled)

[hayduke]

No doubt the dollar is headed for trouble, but this author is a little heavy on the histrionics.

[wordnerd]

No doubt the dollar is headed for trouble, but this author is a little heavy on the histrionics.

Well I absolutely hope you are correct

[pamela]

casino capitalism

that really is a great description I think.

[Bill Hicks]

The author, Chris Hedges, is a well respected lefty journalist.  I read his book, American Fascists, which sounded the alarm about the authoritarianism of right-wing Christians.  

As for this article, I think he's dead on about everything except the timing.  I don't think things are going to unravel as quickly as he predicts.

[StrangeFire]

Great article. The recent movements of Russia and China are really scary. China is buying up tangibles like nobody's business, and we should be doing the same. Turn your dollars into tangible assets as quickly as you can...

[ninakat]

I thought the following paragraph was interesting and significant:

“This means the end of the dollar,” Hudson told me. “It means China, Russia, India, Pakistan, Iran are forming an official financial and military area to get America out of Eurasia. The balance-of-payments deficit is mainly military in nature. Half of America’s discretionary spending is military. The deficit ends up in the hands of foreign banks, central banks. They don’t have any choice but to recycle the money to buy U.S. government debt. The Asian countries have been financing their own military encirclement. They have been forced to accept dollars that have no chance of being repaid. They are paying for America’s military aggression against them. They want to get rid of this.”

[Pariah]

But then there is this article:

Russia’s Kudrin Signals No Alternative to Dollar

http://www.bloomberg.com/apps/news?pid=20601087&sid=awOCMo25zbYY

--The truth's mother wouldn't recognize it anymore...who knows what really going on

[StrangeFire]

Pariah, if you were about to dump the dollar, would you signal that, thus driving down the dollar's value? After Russia said that today, the dollar shot up. Better for them. They get more when they unload it.

[Leonytus]

Great read, great doomer porn, and well said but I think it is a tad sensationalist so I will take it, as with most anything else I read on the internet with a grain of salt.

I think it is funny how he ends it though. A massive population ruled by a cruel oligarchy from secure compounds? lol@that.

No compound can keep tens of thousands of hungry and very pissed off Americans out of it.

[StrangeFire]

They don't need compounds. They have raped and pillaged the country and we do nothing about it.

[Pariah]

Pariah, if you were about to dump the dollar, would you signal that, thus driving down the dollar's value? After Russia said that today, the dollar shot up. Better for them. They get more when they unload it.

Oh I realize that, I just like to reiterate the manipulation.  I read articles today (too lazy to look up links) that this announcement was just more pump and dump.

[Arraya]

But then there is this article:

Russia’s Kudrin Signals No Alternative to Dollar

http://www.bloomberg.com/apps/news?pid=20601087&sid=awOCMo25zbYY

--The truth's mother wouldn't recognize it anymore...who knows what really going on

If you had a couple hundred billion dollars to unload would you say they are worthless   Everybody is pretending the old system will continue, when they all know it's not.