Not Good

Okay, I read this a day a go and did not post on it. I was waiting for conformation. The Chinese and Russians have gone off the dollar standard. This is not a good thing for the United States.

This is another game changer and people need to understand that. The dollar has been the international currency for decades, it is what has kept our country wealthy. It represents trust. We are not trusted to pay our debts anymore. If other countries don't accept our currency, our promise to pay them back, then we cannot trade with them. No more buying Chinese or Russian products. Europe has the biggest problem as they buy natural gas from Russia. It can get cold in Europe.

Currency is nothing more than an IOU. It is a promise of labor and materials. It is not real, it is a promise. The moment nobody trusts your promise, your currency is worthless. That is what has occurred. We don't keep our promises and people stop trusting us.

The Chinese and Russians apparently believe we are going into hyperinflation and that will mean that all of the dollars they are holding will cease having value, they think we will cheat them, we would if we could. Our nations wealth and security was very much built on our stability. People believed America would be stable and that made our currency trustworthy. They don't trust us now.

This is in no way the end, this is the beginning of the end. The end will take a couple of years. Salvation will occur; but, that is only a bigger end. The world is beginning to say that they do not need us. We don't pay back or provide anything. What do we manufacture? Not much. We build weapons, so do others. We control the internet, they don't need it.

This is going to force a standard, be it gold or other. It is very possible that we will nationalize the Federal Reserve to correct this. People will be thrilled if we nationalize the Federal Reserve because it will wipe out our debt to ourselves. It will not however fix anything.

The world as we knew it has changed. For starts, USA is no longer number one. Our GDP is now surpassed by China and our currency is no longer trusted because we have nothing to sell. We will need to accept less in order to compete internationally.

We screwed the Chinese and Russians out of trillions of dollars by selling them worthless derivatives that we defaulted on. We sold them trillions of dollars of our housing debt that we are not paying off. They quit the dollar.

We will watch the world turn upside down and not even understand it. We will have less and not know why. It is simple, we cannot be trusted and nobody will trust us.