Thursday, April 28, 2011 by: J. D. Heyes
(NaturalNews.com) To most Americans it's unthinkable that the U.S. dollar could someday be relegated to second-class status as a currency, but what they may not realize is that the transition is already underway.Reports this weekmarked the dollar's continued slide - it reached a 16-month low against the euro and slid to a historic lowagainst the Swiss francon Tuesday - while at the same time predicting something we've been telling you for years now, namely that the dollaris on its way out as the world's reserve currency.
Impossible, you say? Think again. Signs of the dollar's imminent collapse are everywhere.
Look at the economic and investment juggernaut that isChina. Beijing's economy has been growing in leaps and bounds and as such used to be the largest holder of U.S. dollars, because, as the world's reserve currency, our dollar was the most stable. But China's place was recentlyovertaken by our more traditional Asian ally, Japan, as Beijing has begun insteadto divest itself of the dollar.
The U.S. was once known as the world's richest nation, but these days we have the dubious distinction of being the largest debtor in the history of the world. China, meanwhile, has become our largest creditor.
So, what does all that mean in real terms? Well, it means that as more countries andinvestorsflee the dollar, the faster it will begin to devalue. We're already seeing the effects of that in higher energyprices- oil is priced in dollars, after all, and when it falls, it takes more of them to buy theoil.
And, of course, higher oil prices mean higher gasoline prices (the average price nationwide at the beginning of this week was $3.858 a gallon); higher gas prices mean it is costing more to get products and commodities to the market, which means we pay more for them in the checkout lane. As this cycle perpetuates, inflation will skyrocket and the dollar's value will plummet.
HOW TO GET OUT OF DEBT, STAY OUT OF DEBT & LIVE PROSPEROUSLY
There's one more indicator that the dollar is growing weaker - the meteoric rise in the price of gold and silver.
In the meantime, the sea of government red ink continues to grow,already at more than $14 trillion. The plan in Washington to fix this vicious cycle? Simple. Printmore money.
The U.S. dollar is in trouble. The cycle is underway. The smart money says theage of Americais over.
• The Coming Financial Collapse of America (and Why Today's Market Bloodbath is Only a Small Taste of Things to Come...)
• Economic Fallacies 101: Government Does Not Create More Jobs Through "Stimulus" Debt Spending
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Panic selling of the U.S. dollar now underway as debt system implodesThursday, April 28, 2011 by: J. D. Heyes
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