Prime Minister (20k+ posts)
No bro, reduced it by 5 years. The Russian predicted 2010 it could be delayed by maximum five years in my estimation, or it could be even earlier.
This is a big news for two reasons;
US Dollar is worthless, it is not backed up by anything valuable. The link with the Gold was broken in Carter era, the world only had the this special arrangement that USA issues tranches of Gold. Now Gold is gone, what is left to support the US dollar?
Dollar from now on is a Phantom money for all means and purposes. The dollar or any currency is a promissory note, the government pledges to give the holder of the currency something worthy like Gold for the face value of the currency notes. In the case of the Dollars US have nothing to back up the promise printed on the US dollars.
Once the Dollars looses its legitimacy, it would gradually be ditched by the State Banks all around the world and replace by other currencies or even by Gold. Expect Gold to rise even more sharply in the world trading.
Now the crunch questions. No gold, dollar not acceptable as trading world currency, how US would pay for imports? Specially the oil? The oil is engine of industry and growth. Not having oil for the industry means, destruction of the industries, like it is happening in Pakistan. The Electric problem in Pakistan is not of generation capacity but means to buy the Gas and diesel for the power stations. They are working on the basis of circular debt, paying one off before the next lot is delivered. Hence the electric shortages. Mark my words, PPP corrupt government would burn all the money in to buying the gas and diesel before the elections to show they have solve the problem of shortages. Even though if they have to increase the debts even more.
Imagine the impact in USA of devastation of the Industries, communication and transportations costs rising, causing unemployment, social unrest resulting, riots, arrest, encampment of the masses. Loss of revenues and Taxes, cuts in social spendings, services, health, education etc. etc.
You got the picture. Days are numbered. After USSR, next mammoth has fallen, surely, it is just matter of time.
Then there is problem of the debts USA owned, especially to China. USA wouldn't be able to fulfill its commitments and default. The maturity of different debts is continuous routine. USA buys more to pay for its existing commitments. But once its credit ratings gone, raising funds in international market would be impossible. USA will surely default on its debts, without shadow of any doubts.
Mark my words, a big mess is coming in the world. The Americans had been trying to sweep it under the carpet. All the bailouts were design for this purposes, but they have failed. Why Americans bailed out AIG, because most of the American banks had their protection policies with AIG, if AIG had gone down, the Insurance guarantees would have gone with it. Leaving banks without any legal cover for the losses or banks going down.
Racket is unrevealing, wait patiently, time is not far, the mess is accumulating, the time is approaching it would be beyond control, no matter how much wars America wedge. Remember, the arms are produced for a purpose to terrorise the weaker nations. The weapons would be the only thing left for the Americans, so the whole world should be on its guard.
You echoed exactly my own sentiments. Gold is being hoarded by the Free Masons since early 80's. I remember distinctly gold used to US$425 / oz. That's when Free masons started buying up gold. Now they have stolen and migrated all the bricks to somewhere perhaps in the basement of French or UK bank or even in Israel.
" Imagine the impact in USA of devastation of the Industries, communication and transportations costs rising, causing unemployment, social unrest resulting, riots, arrest, encampment of the masses. Loss of revenues and Taxes, cuts in social spendings, services, health, education etc. etc. " Hence to control the unrest and rioting Americans, martial law would have be declared. There will be no alternative but the regime of military. But the military will have to work withing available means and will only temporarily control the unrest as Americans have not seen any unrest, terror, and civil war since 1875. There will be massacres, target killing by and on people whose belly is empty, can not go to work because the employer would have folded. Corporate America is fully aware of the situation evident by the influx of new businesses opening in Canada. Of course they want to protect their investment.
And its all because they have let the Free Mason and Jews rule them. They have created terrors on behest of Israel since 1949, the year Israel was established, from Germany to Korea, Vietnam, Middle East, and now Af/Pak.
Still is time but they wont listen. InshaAllah Pakistan will rise as they fall.