Warren Buffett stated this week that “the United States was not going to have a debt crisis of any kind as long as we keep issuing our notes in our own currency.”
The Chinese yuan is preparing to overtake the US dollar as the world’s reserve currency, economist Nouriel Roubini has warned.
The pace of dollar selling has accelerated, with the ICE Dollar Index—which tracks the greenback on a trade-weighted basket of currencies—falling to its lowest level since August 2008. It sank to 72.871, a full 4.8% down in April and 8.4% lower since the start of the year.
This week Max Keiser and co-host, Stacy Herbert, report on the world fleeing the dollar flood and the dollar fraud and about Jamie Dimons worst nightmare. In the second half of the show, Max talks to Matt Taibbi about the real housewives of Wall Street.
Watch this video it will turn your head around!
“It’s a train wreck coming, we all know it’s going to happen”
$554 billion in 2015 from $185 billion in 2010
Two wars has strapped the current administration with explosive debt expense growth.
Percent of GDP spending on debt service is:
1.7 percent of United States
2.5 percent for Germany,
2.6 percent for the United Kingdom
2.9 percent for Japan
1.7 percent for Mexico
5.2 percent for Brazil
0.4 percent for China
While some of the lowest borrowing costs on record have helped the economy recover from its worst financial crisis since the Great Depression, bond yields are now rising as growth resumes. Net interest expense will triple to an all-time high of $554 billion in 2015 from $185 billion in 2010, according to the Obama administration’s adjusted 2011 budget.
The amount of marketable U.S. government debt outstanding has risen to $8.96 trillion from $5.8 trillion at the end of 2008, according to the Treasury Department. Debt-service costs will climb to 82 percent of the $757 billion shortfall projected for 2016 from about 12 percent in last year’s deficit, according to the budget projections.
A South Carolina state politician wants the state to develop its own gold and silver-based currency in case the Federal Reserve collapses and hyper-inflation ensues.
Economic Predictions for 2011
Doctor Doom Nouriel Roubini is full of optimism.
Globalization is leading to expansion not contraction, with a huge amount of technological advancements towards progress in emerging economies. Services are leading expansion with large amounts of capital flows and labor movement with the spread of information from advanced to the emerging.
Business Forecast 2011 – Raghuram Rajan – University of Chicago Booth School of Business
Who predicts a steady but not spectacular recovery in the United States, but political risks are increasing.
John Browne, senior market strategist at Euro Pacific Capital, on why China is likely to revalue its currency as the U.S. faces ‘stagflation’, and suggests that it is possible for China to force the dollar to be replaced as the reserve currency?
Is France next to fall?
The Wisdom of Peter Schiff on commodities
The Wisdom of Peter Schiff on excess leverage
Harry Dent addresses Quantitative Easing and how it is creating a bubble.
He also introduces a new website www.meetharrydent.com and by registering and entering the offer code QE11, you will receive a FREE Special Report on the subject of Quantitative Easing.
Fall Of The Republic documents how an offshore corporate cartel is bankrupting the US economy by design. Leaders are now declaring that world government has arrived and that the dollar will be replaced by a new global currency.
President Obama has brazenly violated Article 1 Section 9 of the US Constitution by seating himself at the head of United Nations’ Security Council, thus becoming the first US president to chair the world body.
A scientific dictatorship is in its final stages of completion, and laws protecting basic human rights are being abolished worldwide; an iron curtain of high-tech tyranny is now descending over the planet.
A worldwide regime controlled by an unelected corporate elite is implementing a planetary carbon tax system that will dominate all human activity and establish a system of neo-feudal slavery.
The image makers have carefully packaged Obama as the world’s savior; he is the Trojan Horse manufactured to pacify the people just long enough for the globalists to complete their master plan.
This film reveals the architecture of the New World Order and what the power elite have in store for humanity. More importantly it communicates how We The People can retake control of our government, turn the criminal tide and bring the tyrants to justice.
A film by Alex jones