It won’t happen tomorrow but slowly but surely the world is moving from dollars. The petrodollar system which has been key to the world economy over the last 40 years is eroding. More and more country to country deals are being done in currencies other than the dollar. The economic world as we have known it, after Bretton Woods in the Cold War Era, the post Cold War era, and the post 9-11 era is fundamentally shifting. The dollar is not what it once was. It is no longer “almighty” and one should be prepared.
We have followed Bitcoin from its birth. It is a challenge to the world’s central banks. It is a challenge to the world’s governments. It is a challenge to the super crony capitalists on Wall Street.
This is street fighting money.
Many people are mystified by the kids at the Ron Paul rallies screaming “End the Fed!”
They ask themselves, “Why should we end the Federal Reserve? The Fed helps maintain economic stability right? Every country has to have a central bank. These “End the Fed” kids are nothing but “Paulbots.” The people on CNBC and Bloomberg tell me that the Fed acts in my best interest. I think the people on Bloomberg and CNBC ought to know what’s right for me and my money. Harry Reid is right. Those hard money people and kids at the Ron Paul speeches are nothing but a bunch of anarchists!”
But the main reason many people feel this way is because they fundamentally don’t understand what the “End the Fed” people are really saying and why they are saying it.
What can I say? The guy is right. He’s right almost all of the time, and on this point he is especially right.
To the degree that they can, a few US states are seeking to shore up their finances. Specifically they are moving to make gold and silver legal tender (again). Texas is actually trying to “repatriate” its gold from the New York Federal Reserve. (We’ll see how that goes.)
Let’s do it up. Shoot, why stop at $900 per hour? Just declare prosperity and unicorns will descend from the heavens and poop happiness and we will all die with beatific smiles on our faces. Plus we’ll all have the very best healthcare the dollar can buy before we die. Doesn’t that make you feel good?
The economic tide continues to go out. Inflation continues to creep in. Meat prices are up. Real disposable incomes are down. People still want hamburgers. What is a frozen hamburger maker to do? Horse meat!
What was the best performing stock market in the world in 2008? Zimbabwe.