The Slow & Humiliating Death of the US Dollar

‘BEGINNING OF THE END’

by Jerry Robinson

FTMDaily.com – The U.S. dollar is on the ropes.

Since the creation of the Federal Reserve in 1913, the value of the U.S. dollar has plummeted by over 90%. And based upon global economic developments, it is not a stretch to say that we are now witnessing the “beginning of the end” for the U.S. dollar. Although I have been proclaiming this message of the dollar’s demise for many years, it has never appeared more inevitable than now.

The new financial and banking integration that is taking hold between the governments and economies of Russia and China is the most serious challenge to face the U.S. dollar since it officially became the world’s reserve currency in 1944 at the signing of the Bretton Woods agreement.

In the post-World War II era, the U.S. economy became great through the exorbitant privilege of holding the world’s reserve currency.

America’s economic hegemony was severely tested in the late-1960′s and the early 1970′s as foreign leaders grew anxious over Washington’s reckless overspending — and thus, its devaluation of its own currency. By the summer of 1971, the Bretton Woods system had completely broken down. Fortunately for America, the Nixon administration had a “PLAN B,” which would become known as the petrodollar system. I have written extensively on this topic.

Preparing for the Collapse of the Petrodollar System — READ HERE >>

Despite the wild success of this global “dollars for oil” system, the unsustainability of this system is becoming increasingly apparent.

Throughout history, world reserve currencies tend to die slow and painful deaths. For example, as America’s economy rose to eclipse that of the British empire, the pain was not just financial, but also emotional. British pride faded as the torch of empire was passed from Great Britain to America.

So too, the American empire has entered its twilight years. Rising superpowers across Asia — and throughout Europe — are not satisfied to simply level the playing field of the global economy. Like all rational economic actors, they desire “the scales to be tipped in their favor.”

In yesterday’s Briefing, I stated my belief that the world is heading quickly towards a time of cataclysmic warfare. My view is rooted in America’s own history of launching wars in an effort to force its economic will upon other nations. Put simply, the U.S. will use all of its strength to prevent the dollar from being diminished in global trade.

But America’s resistance to the evolving global economy is futile. Empires rise and empires fall. And the greater the empire, the greater its fall. In America’s case, the fall will be particularly great due to its sheer size and influence.

Today, a growing list of nations has grown impatient with Washington’s economic shenanigans and its aggressive military posture. In addition, many nations are growing increasingly agitated by America’s snooping operations and intrusive surveillance methods.

Our nation is in deep trouble…
Our economy is in shambles…
Our currency is overinflated…
Our leaders are weak and indecisive…
Our “allies” are questioning our reliability…
And “enemies” are plotting our economic demise…

Put simply, these are the twilight hours of the American empire.

Until tomorrow,
Jerry Robinson

http://ftmdaily.com/daily-briefing/052214/?mc_cid=c3a37693d2&mc_eid=631c3d478e