Be careful with anything written by doomsday gold and silver fanatics, they will bend and twist every situation to fit their notion that the sky is falling. If the powers that be are so worried about propping up confidence in the US by shoring up the dollar and dow, why would they simultaneously bulldoze the treasury market to year highs? etc.
I never saw the notion expressed better. I recall Howard Ruff and the Ruff Times, his publicaton, and a book he wrote way back in the 70's. I knew a guy in the 90's that was of the same mindset, he was somehow so sure that western civilizaton was going to collapse before Y2k even that he starved his daughter to death. She was suffering from a progressing degenerative nervous condition and I guess he thought there would not be any medicine or doctors for her and he needed to put all his resources into survival stuff, and he did. How somebody can be that sure of a predicton I will never know.
I am from the Kondratieff school of economics. You look back 46 to 54 years, or something like that and that period will predict the current one. I did that during the 80's and 90's and had a variable rate mortgage, much to the distress of all the worriers that I ever discussed it with. I made tens of thousands on that. Right now I'm looking back to about 1953, interest rates were low, the economy was expanding slowly, etc.
Ya gotta have faith in America. If we go in the shitter, everybody else will be flushed. When the world gets in trouble, it always sucks up to us, because in the final analysis we are the meanest and most durable fuckers on God's green Earth.
I read that article, but appreciate the goldbug clarifications. That being said, I am finding it hard to counter the following thought. After it became obvious that Asian central banks were backing away from the Treasury market, bidders emerged from a region known for its banking secracy. I also posted a question regarding this situation on a new thread, hoping to find some more information.
No queston about that... Just like the Roman Empire... Just like the Spanish Empire... Just like the French Empire... Just like the English Empire... The American Empire is blowing out like a bad trader and will do it faster than the list above... when times up for the dollar as the world's reserve currency - game over... the financial musical chairs game played by our gov and the fed for the last 25 years is truly amazing to behold but will be catastrophic in the end - a few years or a decade - only a matter of time... i love the free enterprise system and true democracy but both have been debased beyond belief... cj
I think astrologically speaking US of A will be a power till 2300, if not total supreme like in 1980s and 1990s, but still a substaintial to be acknowledged. This was also predicted by Nostradamus who called for 500 year reign for some country in the West of Atlantic, with reign starting in 1800s. Why Russia failed misreably in free market while China succeeded handsomely. The reason is US of A. 100s times more money was pumped into China than into Russia. While it is also true that Chinese conducted their reforms in a more calculated and cleaner way i.e. 100s times less mafia in Chinese society. Further, according to not only CIA but also many wall street houses, till 2050 US will be the #1 GDP on earth, after 2050 it will be China and India. As to what to say in terms of standard of living and other crucial facts, in several of them US might still hold the top spot. This all with Dollar being the reserve currency or not. Cheers!
In fact it's the only piece of humankind left on earth not completely flushed through yet. Make sure you get yourselves out of that shitter fast!
Although history tells us every great empire eventually falters, I think the American Empire is a unique case and will go on for quite some time. It has secure land buffers and vast natural resources at its disposal. More importantly, America has a unique pioneer cultural awareness of self empowerment and freedom from an intrusive overbearing govt. (although that seems to be changing with the current admin.) This culture attracts the best and the brightest of every nation to move here. It will never falter as long as anyone with half a brain, can come here and with persistence and hard work can make something of themselves. As long as the American markets remain free, the worlds capital will always follow the innovation that eventually comes from the hard work of these immigrants.