Watch out dollar owners. As China increases the YUAN against the dollar, the purchasing power of the dollar will fall. Who will that help? Not the USA exporters whose products will then be more expensive in foreign countries. Not the USA purchasers of oil or gold or anything made outside of the USA. So who benefits???
The USA government benefits. HOW??? Because they can pay back the debt with cheaper dollars.
The USA will do this at the expense of anyone who has any dollars or dollar denominated investments.
The dollar has dropped in value so far that it is starting to look like the old Italian LIRA or maybe someday like the Argentine Peso or Austral OR the old German Mark OR the Mexican Peso. All these currencies exploded into inflation and worthlessness.
Will the dollar be next??? Think it can not happen. Look at History. That's right HISTORY. Every nation since Romans times, any country that had more debt than it could pay off devalued its currency and screwed its citizens. I repeat - EVERY NATION with excessive debt - devalued or bankrupted its currency.
There are things to do to prepare. You have been alerted well in advance to protect your dollars and dollar denominated investments. It is not if - it is just a matter of time.
And that's the way I see it...
Straight Talk with Jay Clifford
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