We know what’s coming and we are prepared.
IE: US faith in the stability of the dollar will be tested
Rumours of the death of the dollar are exaggerated, but only for now, writes the author of the article for The New Indian Express. The problems with the American currency are increasing, and the cause of this is Washington itself. Ultimately, the US will overplay their hand and lose their political prestige.
At the moment, there is no doubt in the US about the stability of the dollar as a reserve currency. However, considering the country's economic, political, and social problems, this faith will be put to the test.
To paraphrase Mark Twain's famous joke, rumours of the death of the dollar are exaggerated, although its health problems are increasing.
The problems with the dollar are mainly caused by Americans themselves. The unrestrained fiscal and monetary policies of the US - with a budget deficit and government debt at 7% and over 100% of GDP respectively - have reduced the dollar's long-term purchasing power. Since 1972, it has fallen by 99% against gold and lost 90% of its purchasing power in the market for real goods and services.
American politicians have always sought to use the dollar as a weapon to achieve their own goals, thereby compensating for economic weaknesses, such as lack of competitiveness. The US has sought to exclude foreign entities from international payment systems, such as SWIFT.
Washington imposes secondary sanctions to punish individuals and organisations that are not even under US jurisdiction. If a Russian company is under sanctions, anyone doing business with it may be subject to legal action, even if they comply with their own country's laws. This is done through a questionable system of dollar transactions that only pass through the US banking system. International banks and others have already faced legal action for operations that are legal in their own country. The threats are sufficient to disrupt dealings with organisations under US sanctions.
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"…there really is no place to run and hide. The time of the end is the time of no room.
Indeed, seemingly just a handful of technocrats will soon have the power to force everyone to “buy and sell” through their system once digital currency and digital IDs are imposed on the global populace. Then there will truly be nowhere to run, nowhere to hide.
So many of us are growing very tired and weary as we watch a system fall into place that we feel helpless to stop. Even though we have “filled our lamps with oil” as best we can to prepare for these days, we find the increasing evil, lukewarmness, blindness, cowardice, and political correctness of both secular and church authorities exhausting.
I am convinced that we are seeing the rise of this beast in our generation, however long that takes to unfold. As such, Mr. O’Brien is right: There really is no place to run and hide. “The time of the end is the time of no room.”
For instance, many in my country (Canada) have ...
