For more detailed information on this report, see www.ft.com.
As you are aware of if you have been following this story in the news, there has been a backlash from world nations when the Feds decided to print $600 billion to buy back bonds and save the banks.
This move by the Federal Government can only hurt the U.S. dollar and spark a rise in inflation as well. What happens in America affects other nations as well so many are hoping that the U.S. can get their problems under control soon.
The US Federal Reserve’s decision to pump an extra $600bn into the economy has galvanized emerging market central banks into preparing defensive measures and sparked criticism from leading global economies.Are you concerned about this $600 billion dollar bailout causing a major rise in commodities and eventually cause the dollar to drop so low that it will cause world investors to interpret this an emergency and sell-off of dollar backed holdings? If this happens, it will likely crash the dollar and cause a collapse in the U.S. economy. This will open the door for a global currency to replace the dollar.
The Fed’s initiative, in response to rising concern about the weakness of the US economy, has fuelled fears of a sharp drop in the dollar and a fresh flood of capital inflows into emerging markets.Reports www.ft.com.
We know that nations such as China, Brazil, and Germany have been criticizing the Feds for this action. According to FT.com, stated that many Asian central banks are preparing to protect themselves against large capital inflows. More precisely, this means nations like Brazil are preparing for a currency war. There is a global concern that if there is no exercise of restraint by the U.S. on spending and printing dollars, it will cause a global crisis.
"Chinese central bank called unbridled printing of dollars the biggest risk to the global economy" It wasn't that long ago China was requesting there be another world currency because the dollar is unstable and cannot be trusted. This newest action by the U.S. puts us in bad light when President Obama is going on a World Trip to India. We can be sure that he will hear a lot from India and China on this very topic, accompanied with some strong warnings.
If I were you, I would be doing what Glenn Beck has been suggesting for months, store commodities you will need if the economy collapses. Beck doesn't use these words but I do because I can afford to be mroe direct. Put two and two together and what do you get? It doesn't take a rocket scientist to see the hand writing on the wall here does it?
If Beck is right that, fifteen days after China says they will no longer buy our bonds (meaning they will no longer fund loans to us to cover our debts) then the economy will go into a tailspin and we will be in a heck of trouble. I believe this is true. From all the research I've been doing for months, I have come to the same conclusions. I suspect you have too so what do you plan to do about it? What can you do about it?
For FT's full article: http://www.ft.com/cms/s/0/981ca8f4-e83e-11df-8995-00144feab49a.html#axzz14Psu7uFQ
Global Currency Is Coming The past few years, we have heard about the possibility of global currency replacing the dollar. Some say it will be the Euro and others say Special Drawing Rights (SDR). Up until now, it has been difficult to find real evidence that such a currency is actually being proposed. canwebelieveit.info/2010/09/12/global-currency-is-coming/
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