US Dollar Bubble
Intersting video of the devaluation of the US dollar. China's role in it, and what it means for us in North America.
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When and if the world switches from the dollar to the Euro as a trading and reserve currency, then oil will be traded in Euros, and one major effect is that as the dollar falls in relation to the Euro, the price of oil for the United States will rise. As some point we will not be able to buy foreign oil with inflated dollars at the price we are paying now. When that happens, gas prices will go up so far and so fast in the United States that it will wreck our economy. It will be hard even for people to get to work.
ReplyDeleteAs the decline in the American economy and in the dollar continue, most people may continue to be employed, especially since American labor will become cheaper, but foreigners will own more of our companies and our real estate, and they will also have more control. And it will become impossible for the United States to sustain our military commitments because the government just won't have the money to do it.