Rizal Philippines
February 21, 2016
From Before Its News - Ron Paul predicts collapse of US dollar
Former Cong Ron Paul in many places and including the above article predicted the collapse of US as international reserve currency. All ready, the US dollar is no longer a petro dollar. 10 nations have agreed to ease out US dollar as international trading currency. China and Russia announces plan to scrap US dollar - Jim Rogers
The biggest issue vs the dollar is that there is no gold standard backing this up and thus leads to irresponsible budgeting and spending leading to inflation and double deficit.
Has it happened. We ask the pundits and the data.
From Before its news. Beta Testing the bank before a collapse
Under Obama, we are witnessing the financial calamities:
I. The State of US finances
- The national debt is $19 trillion dollars
- The unfunded, yet mandated liabilities (e.g. Social Security, Medicare, etc) now total $230 trillion dollars and,
Of course the 800 pound gorilla in the room is the $1.5 quadrillion credit swap derivatives debt.
2. The collapse of oil price - while it is good for the consumers, it is bad for the banks who lent to the oil companies, and oil companies, and economy in general. It leads to weaker cash flow and bank illiquidity
“Since the start of 2015, 42 North American oil companies have filed for bankruptcy, 130,000 good paying energy jobs have been lost in the United States, and at this point 50 percent of all energy junk bonds are “distressed” according to Standard & Poor’s. As you will see below, some of the big banks have a tremendous amount of loan exposure to the energy industry, and now they are bracing for big losses. And the longer the price of oil stays this low, the worse the carnage is going to get.”
And as it is the European banks, there is no end in sight to this financial massacre of America’s economic life-blood. Let’s not forget that the best measure of global economic health, the Baltic Dry Index, continues to plummet to all-time low of under 300.
- 3. The start of dot com bubble collapse.
Yahoo price is down by 37%
4. Crime rate has increased in major US cities: Chicago, LA
This usually signals a dire economic situation
4. Crime rate has increased in major US cities: Chicago, LA
This usually signals a dire economic situation
