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Is the Death of the U.S. Dollar Imminent?
Nevertheless, the other day I ran across an article titled, Bank Holiday Coming? Prepare?, that contained a quotation that left me sort of shaken. The quotation, attributed to Bob Chapman over at The International Forecaster, read,
As I said, for a long time I've accepted as inevitable the death of the U.S. dollar, and I have also anticipated an eventual nationwide "bank holiday," so stories along those lines don't work me up into a lather anymore. The above quotation, however, is something completely new. The only reason U.S. embassies would be instructed to purchase massive amounts of other countries' currencies is if someone was anticipating that the U.S.'s own currency was going to become worthless, and as indicated in the above quotation, soon. I contacted Mr. Chapman, for whom I have great respect and trust, and he confirmed that the quotation cited above is his own and that he stands behind it, even a month after writing it. I read hundreds of articles a week, particularly about international financial matters, and I've been developing a growing gut feeling (not just a growing gut) that Fall, 2009 is shaping up to be a momentous period. Fall, 2007 was a turning point, when the housing bubble audibly popped. Fall, 2008 was when the banking crises became manifest and the U.S. stock markets peaked. It's increasingly looking as though Fall, 2009 may yield the biggest blow up of all, the acknowledged bankruptcy of the U.S. Government itself and the destruction of its currency. Among the myriad tiny clues pointing to Fall, 2009, a few specific, intriguing ones are noteworthy. The first is from a guy named Benjamin Fulford, who, while not exactly inspiring trust and confidence, claims to be in contact with some of the elites running the world, and much of what he says sounds credible. In one of his recent posts he wrote,
Note the date he cites: September 30. Bob Chapman's quote - I don't believe Bob and Benjamin travel in the same circles, making their statements independent - was from his May 20 newsletter. One-hundred-twenty days from Bob's May 20 newsletter is roughly September 20. At the outside, one-hundred-eighty days from May 20 is roughly November 20. In addition, I have long speculated that a gold-backed currency might be introduced to replace the U.S. dollar, so Benjamin's inclusion of that tidbit concurs with my own speculation, giving it more credibility in my opinion. Then there is a group named LEAP/E2020, independent from both Bob Chapman and Benjamin Fulford, which cites September/October, 2009 as the date of inception of "major upheaval":
Specifically, they anticipate debt defaults by the U.S. and U.K. governments and a "Wave of terminal crisis for the US Dollar, US T-Bond and GBP." (Recall from Bob's quote above that the U.S. embassies are not to buy British pounds.) Since the U.S. Government must borrow one half of its annual budget today, amounting to $1.8 trillion of borrowing in a single year, what will happen if it is unable to raise that sum? The U.S. Government currently spends approximately half a trillion dollars annually on debt service. If it cannot borrow the money to service that debt, then a default will occur. If it resorts to printing money to service the debt, then that's simply a disguised form of default which would hasten the U.S. dollar's demise. The formerly inconceivable notion of a U.S. Government debt default is no longer inconceivable. Then there is this article, titled The Hammer Drops, by Douglas McIntosh, who also cites Fall, 2009 as an ominous date. Referring to a coming wave of state and local government fiscal crises beginning after July 1, 2009, he writes,
Then there is the mystery of the Japanese couriers carrying $134.5 billion in "U.S. bonds," which certainly seems consistent with an imminent demise of the U.S. dollar. I mean, if you were an "insider" and knew that the dollar was about to expire, wouldn't you take steps to protect yourself by quietly getting rid of your dollars? Additionally, the article that referenced Bob Chapman's newsletter cited above included this interesting sentence, also relating to Japan,
In my reading, I have run across many diverse clues from independent sources, most of them tiny, but collectively creating an ominous pattern that appears ready to visibly emerge in the fall of 2009, between the end of September and the end of November. To tell the truth, I honestly hope I'm wrong and that things just keep going the way they are going, for even I have no idea how to cope with a currency that suddenly becomes worthless. |
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For a long time I've recognized that the death of the U.S. dollar is inevitable. It is so thoroughly debauched that it should be worthless right now, but it's also such a vital instrument that nobody can afford to let it die, at least not yet. Moreover, as I've learned over the years, while it's easy to predict what is going to happen - that's usually just a matter of logical deduction - it's nearly impossible to predict when it's going to happen. I have to admit that I've been awed by the acumen of the powers-that-be to keep levitated the corrupt system we have today. I guess when you own the world's reserve currency, the world's most powerful military and have a media empire in your back pocket you can do pretty amazing things, for a while anyway.