Do we truly deserve to be the worldwide reserve currency?

USA will keep on importing Chinese stuff

USA will keep on out sourcing jobs to India

USA will keep on borrowing billions from China

What will +300 million people will do in USA ?

China will always lend to us, just at much higher interest rates in the future. Think 10 - 15%. The politicians will be lobbied by large foreign corporations to allow them to step in and buy “troubled assets” at depression prices. Land can already be purchased by foreigners. China will get their money back in the form of hard assets. This will go on forever.

Post World War II, we were handed an intact, strong country whose economic strength reflected other positive aspects. Like it or not, we have pissed away our inheritance, in every way imaginable. There are unknown dollars, perhaps another TRILLION, which are sitting in various countries around the world. When these are finally traded in for other currencies, that will reflect another drain on the US Treasury.

One thing we need to do before it is too late: Reissue the United States currency. Not REVALUE, but merely reissue with a new design. Holders of current currency could have one year to exchange for new. This will ensure those criminal elements hanging onto cash ((especially drug dealers and Mafia types)) will either surface or eat their losses.

Won’t happen. We can’t even agree on the color of an orange as a country any more. We have thrown away too much, squandered our treasure, and now we are feeling the pain.

Unless we can get every citizen working productively, and not feeding at the public trough, we will continue to lose our position. Same for the crooked banks and Wall Street criminals. Either they are fixed for the public good, or they will continue to bleed us dry as well.

Time for real change, all right. Is it coming, and will it be the RIGHT change?

Related Posts:

• China just gave Bernanke the finger!
• The US government through the FHA is now the new sub-prime lender.
• The bottom line: In less than one decade, investors who trusted Washington and Wall Street were fleeced to the tune of $22.1 TRILLION!
• Within the next 12 months, the U.S. Treasury will have to refinance $2 trillion in short-term debt.
• Ben said that we face difficult choices ahead to get the deficit under control.

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