The demise of the dollar

wkmac

Well-Known Member
In a nutshell, let's say all central banking went away at 10am Monday morning. What would replace it and how? And why would the financial powers that be allow that to happen? Even if it may be for the good of the world, I think there is evidence to show that the rich and powerful don't necessarily give a crap about that. They would rather not be supplanted.

As to your 2nd question, that is exactly what the financial powers are doing right now in fighting to keep the fractional reserve system alive. It's not dead but it has one foot in the grave. Libya was a case in point in which just a couple of years ago, all was forgiven, they were our news buds but then last year, they became the spawn of Satan, so what happened? What happened is that Qaddafi was going to finance the African Monetary Fund with a gold backed dinar which would have ended the domination of the colonial powers on the African continent. An independent Africa is not in the cards so Qaddafi had to go down and a message sent to other up starts. And now we learn (I've posted the link elsewhere on this) that the Iranians are selling oil to India and India is paying not in dollars but in gold and not to mention that the Iranians and Pakistanis are building a natural gas pipeline across southern Pakistan to India and we wonder why the US rattles a saber at Iran on the excuse of nukes when all the intel sez there are no nukes.

Now the latest threat is Russia, China and India in alliance to dump the dollar as the reserve currency which started a couple of years ago and I think this next year or so could be a make or break year for the dollar as we know it. BTW: When you see our gov't demonize someone like a Qaddafi, Ahmadinejad or even Hugo Chavez, drill down and look for energy like oil and then look at what is said by them and in relation to the currencies involved in the transactions. There is always a very common denominator shared by all these "evil leaders" if one is willing to take off the blindfold and actually look.

As to the first point, for starters consider Bitcoin or in the case of Greece or are you missing what might be happening under your very nose?

As to the demise of the dollar, Salman Khan, whose Khan Academy is changing the face of global education has an excellent primer on fractional reserve banking under the economics section.
 
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