Quote:
Originally Posted by greazzer
Setting aside any personal attacks on "Porter Stansberry", whoever he is, here are some facts about the World' Reserve Currency Issue:
Year 1999: US Dollar was 71% of the world reserve currency
Year 2012: US Dollar was 61.20% of the world reserve currency
In 13 short years, it dropped 9.8%
The US economy has slid from a peak of 32.2% of world GDP in 2001 to 23.7% currently, or a 8.5% drop.
Looks like 9.8% and 8.5%, respectively, seem to go hand-in-hand to some degree.
Dollar 'losing grip as world's reserve currency' - Currencies | IOL Business | IOL.co.za
Quite frankly, the media and those who benefit from the federal gifts may be satisfied by BO's endless campaign speeches, but money and the real global players could care less. Because the decline seems to have been accelerating as the debt grows and the debt-acceleration go hand and hand, I am thinking the decline will speed up much quicker in the next few years. I am also guessing that our consitutional scholar of a president will somehow blame Bush, who does in fact have a share of the blame, but our BO has made it a point to rapidly increase the debt.
I wonder why ? |
And How short do you think everyones memory is--1 day long?
The last three weeks are a perfect example of why the rest of the world views the $ as they do now, Most of us WILL NOT lie to ourselves who is responsible for the crisis after crisis after crisis.