Remember all the fearful talk earlier this year about how Russia was working with China and some middle-east countries to come up with a reserve currency to replace the dollar?
Haven’t heard anything more about that one.
Haven't heard anything more about that one.
That is because you haven't been paying attention. The BRICS economic alliance is now likely to overtake G7 before the end of the decade. Look it up. Before the Ukrainian situation and the resulting sanctions no one cared about them. Now because of this falderal the almighty Dollar and Euro will soon be playing second fiddle to whatever monetary schemes BRICs countries come up with.
The economic repercussions will be massive to a country with $33 Trillion in official debt and over $100 Trillion in unfunded liabilities are incalculable. This comes to over $800,000 per household over half of which pay no taxes at all. How is it possible for the US to keep increasing debt that there is no way to actually pay back ever? The sham only works with the nearly the entire world using our currency for trade and legitimizing its value.
Things are far worse than anything that you “haven't heard” lately. We have spent our children's and grandchildren's and generations beyond futures into oblivion.