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To: Kaslin

Americans correctly figure that the reserve currency status of the dollar will protect them for a while longer. One thing we have that other countries don’t is a worldwide infrastructure to prop up the dollar. For example, the IMF: we own it.


8 posted on 06/26/2012 4:23:31 AM PDT by palmer (Jim, please bill me 50 cents for this completely useless post)
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To: palmer
One thing we have that other countries don’t is a worldwide infrastructure to prop up the dollar.

Minus that 16.1Trillion in secret loans the Fed Reserve handed out to "too big to fail" banks here and abroad. The 15Trillion we "hear" about is just scratching the surface.

Now lets toss in un-funded liabilities to the mix; we are hundreds of trillions in debt. There is not enough precious metals on the planet right now to equate to or "back" our debt. It's just a matter of time now.

86 posted on 06/26/2012 6:35:59 AM PDT by Michael Barnes (Obamaa+ Downgrade)
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