Saturday, February 21, 2009
"The next 20 years will be totally different than the last 20 years." - Chris Martenson
What if China suddenly started dumping their Treasury holdings in an opening gambit of an economic war? What could the Federal government do to hold up the value of our fiat currency?
How has our unprecedented level of foreign debt effected our National security? Can we really expect China and other countries to prop up the dollar and our government? At some point the Chinese will see that they don't really need the US export market - that is whats left of it.
There is no way of knowing, at this point, whether the global banking system will continue to use dollar based transactions or instead turn to the Euro or some combination of currencies to conduct business.
see - The Crash Course