THE FINAL COMEDY


Actually, the bankrupt economics of the US can't support its hegemonic ambitions anymore. What it does have is the "psywar" effects of its military - but that is only for "special effects"- when nobody is afraid of it anymore, it will be of no use in the long run as proven in previous bankrupt empires.

Meanwhile, its economic control of the world is fast waning- so it is fast engaging on "destructive capitalism" which it hopes will destroy its enemies- but more likely than not, it will be destroyed first because it is far more leveraged in the first place compared to its enemies.  



Gold-Backed Renminbi To Dethrone The US Dollar



Meanwhile the US appears to be doing everything in its power to hasten the relative decline of its own currency.

There is a new ‘big figure’ to account for the size of the US national debt, which now stands at $18 trillion.

That only accounts for the on-balance sheet stuff. Factor in the off-balance sheet liabilities of the US administration and pretty soon you get to a figure (un)comfortably north of $100 trillion.

It will never be paid back, of course. It never can be. The only question is which poison extinguishes it: formal repudiation, or informal inflation.

Perhaps both.

So the direction of travel of two colossal ‘macro’ themes is clear (the insolvency of the US administration, and its replacement on the geopolitical / currency stage by that of the Chinese).

The one question neither we, nor anybody else, can answer precisely is: when?


http://www.zerohedge.com/news/2014-12-15/yes-its-possible-gold-backed-renminbi-dethrone-us-dollar