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|Ugly Trend for the Dollar|
|Wednesday, 03 August 2011 16:00|
Predictions Coming True
Last year FutureMoneyTrends.com predicted that currencies, like theHong Kong Dollar, would eventually come under pressure to end their U.S. dollar peg. Though there has been no official word from Hong Kong, yesterday a story out of Sydney stated that there is mounting pressure from financial strategist who believe the current pairing is outdated and decoupling is only a matter of time. HSBC's Chief Executive Stuart Gulliver said that Hong Kong should consider moving the peg to a basket of currencies instead of the U.S. dollar. Right now Hong Kong is experiencing high price inflation due to their dollar peg, something that we believe will eventually force them to de-peg their currency.
FutureMoneyTrends.com is following these types of trends closely as they will help us assess how much longer the dollar will be the world's reserve currency. Already we are seeing nations get their ducks in line for a post dollar world, with many Asian nations shifting their foreign-reserve currencies out of the dollar and into physical gold. South Korea recently reported that they purchased gold for the first time in 13 years, joining other central banks in buying gold in 2011. China, India, Russia, Thailand, and Kazakhstan are among others who have been loading up on the yellow metal that the western media has been calling a bubble for the past 10 years.
China, the largest foreign creditor, criticized the U.S. for failing to ensure borrowing is reined in during the recent debt ceiling increase. China currently holds over 1 trillion in U.S. IOU's and is probably getting a little concerned about the U.S. borrowing over 40 cents for every dollar we spend. China's central bank said that they would be "closely observing" the implementation of the new deal. Well, considering that the D.C. gimmicked math is projecting 4% GDP growth in order to have the size of revenues and cuts they headlined, FutureMoneyTrends.com has ZERO expectations that 99% of the headline cuts will ever happen.
Harvard economist calls for more inflation to cure the economy
Ken Rogoff, another economist that didn't see the most obvious contraction since the last depression, is now calling for inflation to fix the economy. He thinks that inflation is an economic cure and that the reason previous stimulus hasn't worked so far is because it simply wasn't big enough. He is actually quoted saying, "inflation is an unfair and arbitrary transfer of income from savers to debtors. But, at the end of the day, such a transfer is the most direct approach to faster recovery." Rogoff clearly shows that he does understand how inflation hurts people, what he doesn't understand is that in order to have a real sustainable recovery, the U.S. and its citizens will have to stop borrowing from future generations in order to live rich today.
What's the end game? How do you ever stop constant inflation if you make the economy completely dependent on it like it is now? More inflation, theft, and fraud is not the answer to America's economy.
Is the new Super Congress Constitutional?
Watch Judge Napolitano explain just how outrageous this new super congress is that was included in the debt ceiling bill. Our way of government has literally been changed without a peep from the main stream media, absolutely disgraceful in our opinion.
The U.S. now has a breadline of 45.8 million people. Not only is this a new record, but the most recent month report added 1.1 million people, the largest single monthly jump since 2009.
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