By Terence Corcoran
Helicopter Ben Bernanke’s Federal Reserve is dropping trillions of fresh paper dollars on the world economy, the President of the United States is cracking jokes on late night comedy shows, his energy minister is threatening a trade war over carbon emissions, his treasury secretary is dithering over a banking reform program amid rising concerns over his competence and a monumentally dysfunctional U.S. Congress is launching another public jihad against corporations and bankers.
As an aghast world — from China to Chicago and Chihuahua — watches, the circus-like U.S. political system seems to be declining into near chaos. Through it all, stock and financial markets are paralyzed. The more the policy regime does, the worse the outlook gets. The multi-ringed spectacle raises a disturbing question in many minds: Is this the end of America? READ FULL STORY
This week Russia is promoting that the world substitute the US Dollar for a basket of currencies as the standard for reserve, thus the US Dollar is in jeopardy of losing its Reserve Status. READ FULL STORY
Also, this week the US Dollar had its biggest single week decline since 1985, Read full story.
Is this the beginning of the end? For the US Dollar, the answer is yes. Gold at $950 an ounce is a very good buy, because the way Helicopter Ben and Obama is dumping Cash into this economy, skyrocket inflation is just around the corner.