Is the dollar dying? with Robert Fisk
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Not in the Dollar store..
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What are the chances of US devaluing the US $ by say 30 to 40 %, given the fact that US debt is about 2 trillion?
Nixon already did similar thing in the 70s when he unpegged US$ from gold.
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The fact the Matt Drudge was pushing this article should raise suspicion. Notice how the price of gold shot up when this article was published?? It appears to have been a speculation scheme for gold speculators and billionaires to get richer. Too bad Thom fell for this.
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A novel idea, the power elite have no idea of 'fairness' though they like manipulation and easy profits.
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Thom, I'm a big fan but this is ridiculous. The dollar may lose the reserve currency status but it won't be to the ruble or the yuan. These are terribly unstable currencies and if this guy understood the state of the global economy, Fisk would be laughed out of the building. The concept of a reserve currency is outdated and trade will likely be determined by a different method in the future but it sure won't be anything like what this bozo is talking about.
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Money based on energy would be a good start. Money traded for labor will always lead to exploitation of people and subjecting many to inhumane working conditions and ultimately devaluing human life to less than pieces of paper. If currency represented electrical current, the incentive to generate more energy would provide incentive to shift all labor to machines leaving humans free to create a better world. Forced human labor is immoral and capitalists create nothing, they simply own everythng.
jimgauth 2 years ago 5
The dollar already has the the value of one hour of labor.
Most of the 3rd world nations pay their workers about one dollar per hour.
And the US is rapidly working its way to that value, too.
TheDecidicator 2 years ago