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The Dollar is Under a Global Attack

By: Steve Johnson

10/13/2009 - 17 Comments

The global attack on the dollar is a direct attack on America as a nation.

The strength of the dollar as the global Reserve Currency of the world is the cornerstone our military and economic superpower status.

Global central banks are dumping U.S. dollars at an accelerating rate, and very few citizens realize what the ramifications of a dollar collapse will look like.  Let me tell you, it’s not going to be pretty.

This is a direct attack on our nation and the closest thing to declaring war against the U.S. without an actual military attack.

Much could be said about how the U.S. central bank (Federal Reserve) has mismanaged its power and flooded the world with cheap money and inflation to bring about the economic crisis – and much of it is true.

This time the global central banks are not joking around, they are joining together in direct defiance against the dollar

“Central banks increased their foreign currency holdings by $413 billion, or 6 percent, last quarter.
That was the biggest rise in at least six years, according to Bloomberg News.

And for the countries that reveal how they allocate that money, 63 percent of the fresh cash went into yen and euros during the second quarter, soaring from 37 percent 10 years ago, according to Barclays Capital. “

Dumping a nation’s currency can devastate its wealth, causing massive economic problems. These actions are more than fighting words.  History shows that actions like these lead to wars.

President Obama will soon be facing another war – the global war against the dollar, which has far greater ramifications than a war against a single nation.

Soon Obama will be begging nations to stand with America and defend the dollar. But it will be a very difficult to sell, while he continues to print money as fast as he can.  The only choice he will have will be to face the recession.

The world is not going to let the U.S. export inflation anymore, we are very soon going to be cut off from our debtors and forced to live without our means.

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