Saturday, September 29, 2007
US dollar to plunge
According to Mike Swanson, "the accumulation of debt in the United States cannot continue much longer. In the last century the ratio of debt to GDP hovered between 120% and 160%. In 1929 debt rose to 260%. Now the ratio of debt to GDP is at a mad 300% and has been growing over the past year. Something has to give."
Oil and gas are at all-time highs while metals such as silver are up more than 25% in 2004 and gold up 50%."
The Bulletin of the Atomic Scientists created the famous "Doomsday Clock," whose hands they move forward and backward as they see the dangers of nuclear war ebb and flow. A few years ago they moved the hands of the clock seven minutes to midnight, a setting higher than it was at the end of the cold war, because the US had rejected a series of arms control treaties while terrorists had been seeking to acquire nuclear weapons.This is the 24th hour for US dollar. I'd say we are 15 minutes away from midnight on the dollar clock.
THIS LINK posted by Joseph Bell : 8:04 AM
