Hey, buddy, can you spare a Euro?
by Leon Fisher,
Unknown News Dec. 26, 2006

When one day a year either makes or breaks the bank, how fragile indeed has our economy become. Decades ago when we manufactured almost everything here in America, the Christmas holiday was just that, a holiday. Of course retail business made money, but the money spent on gifts stayed in American pockets.

Now everything is made in China, India, Mexico, and many other countries too numerous to mention. Once the money is sent out of the country, it will never return.

f you do not believe this check the trade imbalance between the USA and China. We buy nearly everything from them while they buy pitifully little from us. It is a lucrative one-sided deal for China and the corporate crooks who engineered this scheme, with the American working man coming out the loser.

And if you think that this theft on a grand scale is not hurting America, well, listen to this. America's finances are in such bad shape that China, our so called most favored trading partner, is taking the billions of American dollars which it has accumulated in this one-sided trade deal, and now wisely trading them in for Euros and precious metals.

The Chinese are well aware of America's deepening financial morass, and they are not going to get stuck with billions of worthless American dollars as the bottom falls out. And my friends, unless our do-nothing Congress acts soon to reverse this looming economic disaster, the once-mighty dollar will wind up like the post-World War One German Mark -- worthless!
Even as we speak, the dollar is losing value. Watching my fellow citizens driving their late model unpaid gas-guzzling monuments to testosterone like so many lemmings to the shopping malls to buy Chinese made junk, most of which will be in the garbage not long after the shopping frenzy is over, is just too depressing to behold.

What's worse, however, is the mindset of the average American, who seems to be more concerned about his neighbor's dog pooing on his lawn, than about the impending collapse of the dollar.

Once the **** hits the fan, Americans will eventually get their heads out of the sand and demand an end to the so called "Free Trade" schemes and a return to fiscal responsibility. But by that time it will be too late, a depression equal to or worse than that of the 1930s will be upon us.

Hey buddy, can you spare a Euro?

© by the author.

I'm not making this stuff up. But you folks claim that I do.

Holy

Better start converting now. Good thing I got that EU citizenship, I may need it if, God forbid, the USA economy goes down the toilet.

whatever...

^^^Hehehe...My sentiments exactly.

Another well known, reputable source.

Unknown News is a collection of one-sided commentaries, more of a blog if you can call it. But nevertheless Leon Fisher is correct of how the Dollar is performing really badly not just because of the trade imbalances but also Oil.

Most sales all around the world are conducted in US dollars because the US prints them, distributes them, despite the fact that many of them are weakened. So if the world sees a weakened dollar, instead of paying them in Dollars, they will shift to Euros so they can purchase oil and other commodities. Supply and Demand folks, remember that from Eco101???

With a weakened dollar, what does it bring? That is often disputed. It could bring about inflation. It could do the opposite. This is unforseeable just like the economic crash in Japan during the 1990's.

In addition the crisis in the MidEast, demand for Oil from China and India is rising. Fossil Fuels, like all resources in the world are becoming depleted. Fiscally, America is in deep trouble and will bleed itself dry if it does not find an alternative energy source FAST.

Like most Western industrialized nations, Energy runs America's economy, not trade. America is not a trading nation when NAFTA and other trade barriers such as heavy import duties, tarrifs, and other forms that contradicts free trade exists. Especially if America is a service-sector dominated economy. Remember that.

Money had loyalty to none, but many have loyalty towards money! The dollar, yen or euro will move around for as long as it takes to find the most profitable place. And as history shows; this moves around the globe! Belief you me, we once were the US of the world; the hegemon..... But to all good things come an end!