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US Dollar Under Acute Pressure: The World seeks an Alternative Reserve Currency

http://www.globalresearch.ca/index.php?context=va&aid=23962

The US dollar continues under acute pressure, as the world seeks an alternative reserve currency.

The days and years of manipulation, fraud and criminal behavior are fast coming to an end. New alliances are evolving, as are outspoken advocates of a new world reserve currency. As a result more and more foreigners are bypassing Treasury and Agency bonds, as well as other US dollar denominated investments. We watch as other major nations accumulate gold and cannot help but think that the new world reserve currency will be gold backed.

Over the past 11 years the Fed and other central banks have increased money and credit by several devices and in the last three years more aggressively by purchasing bonds and via using swaps. QE1’s monetary creation has now begun to affect costs and the entire price structure. As wages lay stagnant the resultant inflation will eventually destroy the middle class, the structure that holds American society together. As the taxpayer saves the financial institutions the middle class is being destroyed. They are funding their own demise.

We believe inflation is currently 8% and should be 14% by yearend. That is the result of QE1 and stimulus 1. Next year the US economy will be impacted by QE2 and stimulus 2. If we get QE3 and stimulus 3, 2013 will be impacted. Inflation could range from 25% to 50%, or more, dependent upon what the elitists have in store for us. While this transpires unemployment will rise and government revenues will fall increasing the already colossal debt.

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http://www.globalresearch.ca/index.php?context=va&aid=23962




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Good Article

Thanks for posting.

Good Article By Mr. Chapman.

I especially like the last paragraph in the article by Mr. Chapman, where he mentions Dr. Ron Paul.

beesting

Thanks

another great recent article by Bob Chapman is here:
http://www.globalresearch.ca/index.php?context=va&aid=23881

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