George Soros, speaking last Friday at Columbia University, stated that the seriousness of the current financial crisis can be compared to the collapse of the Soviet Union.
Soros is a smart guy, whether you like him or not is irrelevant.
This financial crisis is NOT over, nor is the demise of the U.S. Dollar over. It’s only the lack of a viable alternative that keeps life in the U.S. Dollar. And that’s good for Americans. I was just talking with some people yesterday about travel and exchanging currency and I stated that there probably isn’t a cab driver in the world who will refuse to take U.S. Dollars to pay the fare.
But expect that to change, and resist any attempt at any global solutions.
The Chinese are creating their own solution, they are now issuing bonds to foreigners outside China. This is new and this is big, watch it.
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