When The Greenback Falls

timwilliams By timwilliams, 1st Dec 2016 | Follow this author | RSS Feed
Posted in Wikinut>News>Politics

The future of the United States rests with the dollar being the worlds reserve currency and the implementation of National Economic Reform.

When The Greenback Falls

With the post election reality finally hitting home the beguiled public have started to realize what a charlatan Donald Trump really is. Aside from awakening to a new reality that seems like we just entered the Twilight Zone the simple fact is the United States is poised to enter the most sinister financial crisis we have ever faced. An economic catastrophe that is on a collision course aimed directly at these United States and Europe. A disaster of epic proportions signaling the swan song of the US dollar as the worlds first reserve currency.

Today, when you have had the main stream media continually focus all their attention on this years Presidential campaign fail to recognize the economic tremors half a world away signaling a financial earthquake is about to cause the most destructive financial crisis since the Great Depression just shows that the media is all about the money game that's played when Presidential politics are in play. Could it be that history is again about to repeat? With Trump set to assume the Presidency in January and Obama still at the helm the ship of state is in gale force winds of economic instability.

Now, while we have Trump fiddling his way around cabinet posts the United States is poised to be engulfed in ablaze of economic and financial calamity. A calamity that would wipe out practically everyone's financial security leaving this nation paralyzed. Think of the period of the 1930's, soup kitchens and the like. If a financial crisis even on the same level as the Great Depression hits and today it is already knocking on our front door mass hysteria would engulf this nation with monumental violence and horror. Back in the thirties the nation as a whole was much more civil with a basic core morality. Today, the United States has lost much of the civility that prevailed back then and we have seen a moral decay unprecedented in modern times. When this financial crisis hits and it most certainly will if measures are not immediately implemented our way of life would end.

We have to go back to 2008 when the United States was pushed to the brink of financial disaster brought on by the financial institutions themselves through blatant greed to realize it takes teamwork to solve the immediate crisis. The safeguards that were put in place then apparently now the financial world has found new ways to circumvent those same policies that were put in place to safeguard our financial markets. Today, with our national debt looming as another ticking bomb the financial world of the US is about to suffer a shock so horrific equivalent to a magnitude 12 or more earthquake and yet there is no mention of what really is apocalyptic scenario heading straight for us.

History is about to repeat as it so often does. The only difference is the names have changed but the similarities of the past are overwhelming coincidental not to realize that we as a society have failed to heed what history is supposed to teach us in the first place. The frightening fact is that today if the US dollar lost it's status as the world's reserve currency the economic and financial devastation resulting would be unparallel. Already Japan and China are discussing trading the yuan and the yen without using US dollars. Even now the International Monetary Fund has openly campaigned for the US dollar to be replaced by the SDR in the hope to boost Europe's troubled financial markets.

Another factor to consider is that the Chinese yuan has been gaining strength due in large part to the accumulation of gold that they have been diligently acquiring. The United States meanwhile all our currency is back up by nothing more than a good faith that we will pay our debts. In other words our whole financial reality is nothing more than a house of cards ready to fall down. Throw in the fact that Russia, Brazil, India, China, and South Africa are all in discussions about taking the US dollar out of circulation. All this and more has to be a real wake up call that decisive action must be taken to safeguard that the US dollar remains the worlds reserve currency before it really is too late.

We have to realize why this is happening. It should be readily apparent that for the past 25 years or more the foreign policy of the United States has been instrumental in destabilizing much of the world. When we continue to meddle in other nations' affairs for our own greedy purposes what recourse do these nations have but to retaliate in almost the same fashion that the US has imposed on them. Look what we have done in just the past 15 years. More importantly look to the sanctions we have imposed recently on Russia and Iran. What do you think that our sanctions are doing? There not helping the citizens of the United States and certainly not helping the citizens of those countries either. All we have done is antagonize the rest of the world for selfish gains. And, you can bet your bottom dollar it is all about oil and profits.

So what to do? With the United States budget deficit in excess of over $1 trillion a year the consequences of losing the dollars status as the world's reserve currency would be disastrous. The fall out would be that the Fed would not be able to print money to pay its debts. Think about all that Quantitative Easing that the Fed did in 2009. It was more like counter fitting. But, all that money that was supposed to spur small business growth just sat in the Banks vaults and as a result the Banks got bigger and the fat cats on Wall Street got even fatter. How will the US be able to pay it's debts without the ability to print their way out?

The reality of answering that question should send chills down through our society. If the government can't print their own money as we have in the past the US government will seize bank accounts, garnish 401 K's, other retirement accounts, Social Security payments would cease and other disastrous measures to horrific to contemplate would ensue. To safe guard our future and protect the US dollar from ceasing to be the worlds reserve currency it is imperative first the United States must ease the foreign sanctions we have imposed and take the necessary steps to secure our place as the top economic engine in the world. And, that starts with jobs, good paying jobs. We have to remember that ever since NAFTA was implemented back in 1994 the US has lost millions and millions of middle wage jobs. Sadly those jobs have yet to be returned. If the United States fails to recoup millions of middle wage jobs our future as the worlds top economic power will be lost and with it the dollar will surely be replaced as the worlds reserve currency. Our future lies with implementation of National Economic Reform's Ten Articles of Confederation.


Dollar, Economic Collapse, Economic Crisis

Meet the author

author avatar timwilliams
I am a feature writer for The Tampa Bay Examiner and The American chronicle. Earned Ph.D in Economics

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