Bye Bye American Dollar

truthdig.com/report/item/20090614_the_american_empire_is_bankrupt/

Oh my goodness! That’s a scary article. We are certainly living in perilous times, and from the sound of it, things will get worse before they get better. I’ve got a sick feeling that the world’s about to get even crazier.:frowning:

Fear mongling

There’s hints in there that the writer is not a religious man, seemed the opposite. So I am not surprised that he sees no hope.

Interesting idea about the military spending. Is he saying that we buy more than we sell. (Import more than export) And with that money foreign businesses invest in US bonds. The US government then uses that money from the sale of bonds to pay for the military, (Which then we use against the country that bought bonds.)

And there will not be money to repay the bond holder, so basically he’s been giving us goods and paying for our military with just the belief that he holds value in the bonds?

So those countries would be mainly China and the oil countries? And that’s why they’re trying to buy “things” now so that they can exchange the worthless bonds for something of worth?

Hmmm. So wouldnt’ things get better here once they stop selling us goods so cheap and we start manufacturing things ourselves? Except we wouldn’t be able to afford our military and so would be more threatened by other countries.

^we would be in a much better position in the LONG run, but the problem is we cannot run the empire we run on the budget we have. You just CANNOT print money out of thin air which is what we do.

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