Tuesday, July 8, 2014
LOUIS FARRAKHAN - The U.S DOLLAR Is WORTHLESS. Its Time To Wake Up
Few economic analysts truly understand the underlying fundamentals of the global economy and their impact on the workings of the world. Fewer still are willing to share that knowledge with the general public and advise others on how to shield themselves against a destabilization of the system as we have come to know it.
Bud Conrad of Casey Research is one of those who does, and in the interview below with Future Money Trends he discusses the end result of the manipulations currently being executed by our government, central banks, and financial institutions. The complex of potential future problems will be based on the same problems that caused the 2008 downturn... too much government debt, too much private debt and a collapse of that debt when it can't be paid, creating a new economic crisis. Hidden Messages in New $100 Dollar Bill? Ron Paul: Bitcoin could 'destroy the dollar' Imagine a world in which you can buy anything in secret. No banks. No fees. No worries inflation will make today's money worth less tomorrow.
The digital currency Bitcoin promises all these things. And while it's far from achieving any of them — its value is unstable and it's rarely used — some have high hopes. It will implode and will issue a new currency to replace the dollar. That will destroy an awful lot of debts. It will give the government a new leg, and if they can base it on something like gold it will, both, be very bullish for gold and create new confidence. If they create a new paper system like the old paper system it'll die just like a Banana republic [like] Argentina about every ten years later. If Farrakhan spent more time exposing the new world order and less time pimping race division, he'd become a prime target, especially if he started spreading a message of unity across all races in opposition to the globalist agenda.
China just dropped an absolute bombshell, but it was almost entirely ignored by the mainstream media in the United States. The central bank of China has decided that it is "no longer in China's favor to accumulate foreign-exchange reserves".
For years, China has been systematically propping up the value of the U.S. dollar and keeping the value of the yuan artificially low.
The death of the dollar is coming, and it will probably be China that pulls the trigger. What you are about to read is understood by only a very small fraction of all Americans. Right now, the U.S. dollar is the de facto reserve currency of the planet. Most global trade is conducted in U.S. dollars, and almost all oil is sold for U.S. dollars. More than 60 percent of all global foreign exchange reserves are held in U.S. dollars, and far more U.S. dollars are actually used outside of the United States than inside of it. The Obama administration was serious enough about manufacturing a high-value platinum coin to avert a congressional fight over the debt ceiling that it had its top lawyers draw up a memo laying out the legal case for such a move, The Huffington Post learned last week.
HuffPost submitted the FOIA request when there was increased speculation about the use of the platinum coin option ahead of the debt ceiling crisis this fall. Under the compromise reached between the House and Senate following the government shutdown, the U.S. will hit the debt ceiling once again on Feb. 7, though the Treasury can use extraordinary measures to extend that deadline.
Supporters of the platinum coin option say that under a 1996 law allowing the Treasury Department to mint a platinum coin in any denomination, the president could order the manufacture of, say, a $1 trillion coin that would be deposited in the Federal Reserve. The Treasury Department would then use the platinum coin funds to meet government obligations without the need for Congress to grant any additional spending powers.
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