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Putin: US Dollar Will Collapse Soon
by Tyler Durden via janice - Zero Hedge Saturday, Nov 16 2019, 7:31pm
international /
prose /
post
It is impossible to sustain the value of a currency that is printed from thin air on demand, notwithstanding that the dollar's current status as the world's default trading currency (petro-dollar) is the result of blackmail, not manufacturing production value, which of course China has, as greedy American and European corporations stupidly off-shored their manufacturing bases to China and made it an international economic powerhouse almost overnight. China was simply too smart, it NEVER allowed its currency to be controlled by Wall Street, which control (dream) was hoped would constrain China economically.
Clearly, the world has had enough of supporting the paper dollar and perpetual, illegal US wars by consequence, which result in the deaths and maiming of millions of innocent civilians and the ruin of once prosperous, stable nations. It is predictive fact that this abused 'air' currency must soon fail big time, but when is the question, however, today it's sooner rather than later. Russian President Vladimir Putin succinctly summarized the shifting tectonic plates of geopolitics.
@Ben__Rickert
Vladimir Putin: "The Dollar Enjoyed Great Trust Around The World. But For Some Reason It Is Being Used As A Political Weapon, Imposing Restrictions. Many Countries Are Now Turning Away From The Dollar As A Reserve Currency. US Dollar Will Collapse Soon."
First he explained the status quo...
"The Dollar enjoyed great trust around the world. But, for some reason, it is now being used as a political weapon to impose restrictions."
Then Putin explained the consequences...
"Many countries are now turning away from the Dollar as a Reserve Currency."
And ultimately what happens...
"US Dollar will collapse soon."
And just like that, it was gone. Remember "nothing lasts forever"...
Of course, Putin is not the first (and won't be the last) to suggest the end is nigh for the dollar...
The World Bank's former chief economist wants to replace the US dollar with a single global super-currency, saying it will create a more stable global financial system.
"The dominance of the greenback is the root cause of global financial and economic crises," Justin Yifu Lin told Bruegel, a Brussels-based policy-research think tank. "The solution to this is to replace the national currency with a global currency."
Warren Buffett once explained that "for 240 years it’s been a terrible mistake to bet against America, and now is no time to start."
We don't mean to rain on his parade too much, but the following charts suggest time is ticking, as the world transitions from dollars to non-fiat reserves...
Follow link below for addition graph information from Bloomberg and video associated with Tweets:
https://www.zerohedge.com/geopolitical/vladimir-putin-sums-new-world-order-5-words
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