Wednesday, October 7, 2009

More CHANGE that The One promised

This is not good news for the dollar or the US economy.

Oil producers, consumers in secret talks to replace $

"Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars," said the report, adding that France had also been involved in the talks.
Well, it's not that secret. China alone could dump its dollars and cause a global meltdown, themselves included. They know better and are dumping dollars slowly and quietly. It won't take too much to start that snowball of a problem.

If the plan materializes, analysts say, it could be a major blow to the US economy, already suffering from an unprecedented downturn.
Yes, quite a MAJOR blow. Team Obama won't let a crisis go to waste. Maybe another "bailout" for the American people and the government will own ya just like GM. It would be a CRISIS and dissent is no longer patriotic, you racist pig!

Earlier in September, World Bank President said the United States should not take for granted the dollar's status as preeminent global reserve currency because other options are emerging.
If you have the cash you really should invest it in gold/metals before it's too late.
Your cash won't be very useful compared to the value of gold or silver.

Remember the malaise of the Carter I Administration, you ain't seen nothin' yet!!!

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