Economic Calamity: The Final Chapter is Being Written

The doomsday clock will ring this year,  because the U.S. economy may fully crash in a few months, which will, in turn, bring down all world economies and all hope of any recovery for the foreseeable future — certainly over the course of most of our lifetimes.

Interest rates will skyrocket, businesses will fail, unemployment will go to record levels, material and food shortages will be rampant, and there could be major social unrest.

Any wishful thinking that America is in a “recovery” and that “things are getting better” is an illusion.

The problem is not Medicare, which won’t quit on us for another six or seven years. Nor is it Social Security, which will not be fully bankrupt for another 15 years or so. The crisis is much more immediate and much more serious.

The central problem is that America is the bank of the world. What this means, simply, is that the dollar is the world’s currency (often termed the “reserve currency”).

Throughout the world, nearly all traded goods, oil, major commodities, real estate, etc., are denominated in dollars. Click here to read the full article on All Self Sustained

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