Get ready
Helicopter Ben is giving a speech today, as the Fed Chairman does periodically, and so what he's going to say should be pretty much a given to those who know and follow such things. However, considering the news for the last month (the last two years, really, but who's keeping score anyway?), with all the hullabaloo regarding the imminent 'double dip recession', jobs lost, retirement savings being consumed by an evaporating stock market, everyone seems to be all-ears, sitting a bit more upright than usual, anticipating themselves hanging on every word he'll utter.
It'll all be bullshit anyway.
As previously mentioned, we are now a 'Mickey Mouse economy', and China KNOWS IT. They are making moves at protecting themselves from the blow that is coming if the value of the dollar takes a bigger hit than expected, especially if the news coming from Benny isn't very good for the markets.
Why might I say this?
Read this, and understand why we are well and truly fucked.
The US Dollar is, right now, being replaced in financial centers, like Hong Kong. The ball is now rolling at replacing it with a new reserve currency. China is calling the shots on this now, and for good reason, they are the ones with the big, and comparatively at least, vibrant economy.
Get this; the US Dollar has now lost the faith it once had with commodity traders around the world. Your goods, oil and most other raw materials will be traded for Chinese money soon, not Dollars.
Why?
I quote WRSA,
It'll all be bullshit anyway.
As previously mentioned, we are now a 'Mickey Mouse economy', and China KNOWS IT. They are making moves at protecting themselves from the blow that is coming if the value of the dollar takes a bigger hit than expected, especially if the news coming from Benny isn't very good for the markets.
Why might I say this?
Read this, and understand why we are well and truly fucked.
The US Dollar is, right now, being replaced in financial centers, like Hong Kong. The ball is now rolling at replacing it with a new reserve currency. China is calling the shots on this now, and for good reason, they are the ones with the big, and comparatively at least, vibrant economy.
Get this; the US Dollar has now lost the faith it once had with commodity traders around the world. Your goods, oil and most other raw materials will be traded for Chinese money soon, not Dollars.
Why?
I quote WRSA,
"the PRC is positioning itself as a primary heir to American hegemony as our country continues to spiral towards disaster." [emphasis - Ed.]Do you speak Mandarin or Cantonese? It may be useful in the not too distant future.
5 Comments:
Thanks for the link, and also catching the typo (the 's' in "spirals") that eluded me.
Have fixed on the site; might you fix here?
While increased global acceptance of the RMB does not spell 'doom' per se for US interests, it is clear that the PRC is positioning itself as a primary heir to American hegemony as our country continues to spiral towards disaster.
C.A.,
Done sir, and honestly, I hadn't really noticed the typo before you mentioned it. The overall message was probably overloading me with dread and fear.
Your piece has me more worried than ever that the flunkies in charge are going to do something stupid when the SHTF, and since our dollars will no longer be as accepted on the world market, the oil imports to this country will stop, or at least be put a serious squeeze on.
I'll bet you can guess the consequences of that, and not just about the price of a gallon of unleaded regular.
Horror.
Death.
Mayhem.
Probably more, but that should be pretty accurate for starters.
Thanks.
You are tracking accurately on the consequences, IMHO.
I have an unfortunate stress reaction in that I laugh (or have to suppress a laugh) as things start getting really phuqued.
I am chuckling most of the time now.
And that ain't funny.
Good luck to you and yours.
Thank you sir.
I've been watching this coming for some time, but until about two years ago, I thought it was probably me being a bit paranoid.
Then, late last fall, my WIFE pipes up about finding a piece of land. We closed on that this May.
We've got some of the necessities covered; wood for heat, we have a decent stash of food, and currently live in a small bedroom community/old town outside of the city, but well within the death-march range of the zombie crowd, plus, there are three prisons not more than an hour's drive from here, so security bit is iffy, regardless of my specific situation with armament as there are, ya know, roads that lead directly to the front door. Not sure how to get around that one.
We are doing as much as we can at this point, but moving to the new property and getting something built that could sustain us isn't very realistic at this point, unless some sort of stupid luck happens our way, enabling me to quit the office work and get to building, straight away.
Anywho, the continuing and quickening spiral we are on isn't getting its due coverage, save for people like you, doing what needs to be done.
Thanks again for keeping eye squarely on target.
Spend as much (or more) time building the tribe. People can live for years in crappy conditions, but cannot survive minutes in a kinetic environment.
My two cents...
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