“Foreign investors in U.S. dollar assets have seen big losses measured in dollars, and still bigger ones measured in their own currency. While unlikely, indeed highly improbable for public sector investors, a sudden rush for the exits cannot be ruled out completely,” warned the bankster elite from their tower in Basel, Switzerland, after the plug was pulled on the economy back in 2008. When China and other debt holders finally back away from the dollar, “the consequences for the U.S. economy will be absolutely catastrophic and every single American will feel the pain,” writes Michael Snyder. “The standard of living that all of us are enjoying today depends largely upon China. They can bring down the hammer at any moment and they know it.” For now, crowds of ebullient consumers are reveling at Walmart, a store packed to the rafters with cheap flat screen televisions and other electronics manufactured by China’s labor gulag slaves. The good times continue to limp along on the sputtering tail wind of the greatest economic expansion in history. That wind will soon stop blowing. When it does we will all experience the greatest single bust in the history of the world.
Posted on: Fri, 29 Nov 2013 22:50:18 +0000
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