What's going to happen to America after March, 2006?
Question:
March 20 is the date set for the opening of the Iran Oil Burse (IOB), an international exchange that will permit oil to be purchased in Euros. Currently, oil can only be purchased in dollars, a condition that has artificially inflated the value of the dollar on world currency markets.
Allowing oil to be purchased in Euros will have a strong negative impact on the dollar's value, triggering what LEAP calls a 1929 like financial crisis as nations scramble to unload their dollar reserves and Treasury bonds in favor of Euros. (Currently 49% of America's national debt is held by foreign countries, up from 18% in 1982.)
This could cause the USA to "monetarize" its debt (print enough extra dollars to cover it) flooding the world financial markets with what LEAP calls "monkey money." It's roughly equivalent to you or I writing a check to pay a debt, knowing we don't have any money in our account, but on a much grander scale. When a nation does this, it creates an inflationary spiral that requires the printing of more money, causing more inflation, and could become a vicious game of musical chairs that soon leaves everyone standing.
The Federal Reserve has already announced that beginning March 23 it will stop publishing its regular report on the amount of US currency in circulation, called M3, so that no one will know just how many dollars are in play. Recent reports are already showing a significant increase in M3 leading experts to believe that the printing of monkey money has already begun. It's known that new Federal Reserve chairman Bernanke favors this approach.
Answer:
Chicken Little is exactly right.
Have you actually read the internet articles?
it starts with:
"its attempt to establish a world empire dominating every nation on the planet, the U.S. has exhausted its ability to finance the expansion and the country now faces imminent financial collapse. From all indications, it looks like 2006 will spell the end for America."
Was this article written from a Cabin in Montana, or a second story apartment in France?
Some people believe this is why we really went to war with Iraq, because they were going to sell their oil for Euros, instead of the previously required US dollars. (And most of us thought they were just after the Iraqi oil.) This would, most likely, create the collapse of the US economy. What's going to happen? A lot of gnashing of teeth, and a big change in our way of life will happen. Americans are not at all prepared for economic collapse...as unprepared as we were for 9/11. We just don't believe things like this can happen to us.
Yo; JP would you be able to provide a direct link to this information or if not i can search engine this one, basically to try and determine truth or propaganda etc. I,ll say this from my prespective the stage is set!And Greenspan unleashed his golden parachute!Ok I got the website www.europe2020.org/en/section_...
"the Sky is falling", says Chicken Little.
Go to your local library, find some books like "The Coming Economic Collapse of the 1990's" or "How the US will be conquered by Communism before the 1st Century." etc.
The end has been predicted long before your Doomsday Scenario.
Have you been reading the mainstream US news? Notice all those reports about Iran's nuclear program lately? Notice the complete lack of anything about the IOB? Iraq tried to to the Euro thing. Look where it got them.
I think that oil is an issue that America has ignored too long. Our enemy (Iran) now has an economic weapon that it can weild against us. The US needs to stop listening to the environmentalists and needs to put itself into a position to use all technology available and KICK THE OIL HABIT.
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