They're Destroying the Dollar!• Charles Goyette from TheStreet.com
Dollar destruction can provide for the revaluation of what is otherwise unsustainable federal debt, both the explicit debt and unfunded liabilities. For example, a 4% inflation rate reduces the real value of a $12 trillion dollar debt by $480 billion. The Dollar Meltdown provides simple strategies for individuals to protect themselves and their families from the slow-motion debt repudiation of inflation and the chaos of a currency crisis.
On the subject of devaluation, it might be helpful to remind those who deny any prospect for a changed dollar role in oil markets, that even until the early 1970s a fourth of the global petroleum trade was still conducted in the British pound sterling.
But serial devaluations of the pound finally made it so unattractive that OPEC implemented its policy of 100% dollar pricing. Only this time, OPEC Secretary General Abdalla El-Badri has conceded, a change from the dollar would not take as long as the change from the pound sterling.
2 Comments in Response to They're Destroying the Dollar!
Keep in mind they could not destroy it without the help of our government.