It will collapse.................
It will collapse.................
Mein doppelganger—during the home mortgage lending meltdown the feds bailed out Bear, Lehman, Goldman Sachs, Deutsch bank and others, while the American taxpayer took it in the shorts.
When they have to bail *themselves* out, and start running the cash printing presses at Ludicrous speed, that’s when the SHTF.
That’s when we find we have re-financed our colossal debt with our last credit card, when the rest of the world decides that having the dollar as the world currency reserve just isn’t working out.
The last time it changed, from the pound, was after WWII.
A survey of 200 institutional investors - 100 headquartered in mainland China and 100 outside of it - found 53 percent of investors think the renminbi will surpass the U.S. dollar as the world’s major reserve currency. You can say that 50% were Chinese, but we can only spend as Obama has spent, while producing nothing but barristas and service workers for so long before the bottom falls out.
Sailing away on the thin ice of another new day.