Today's Coming Crisis Movie

Friday, July 29, 2011

"Barbarians at the Gate Restructuring the World"

Being the world reserve currency is something that obviously Congress does not comprehend. About two-thirds of central bank reserves are in US treasury paper. What is going on in Washington right now demonstrates the total lack of comprehension of what is the role of the dollar (i.e. the flight to Swiss & gold). This also illustrates my point that the world cannot afford the dollar to be the reserve currency anymore because we are plagued by internal political conflict with no real hope in sight. This is no way to lead the world. At Princeton Economics, being multinational corporate advisor, we got called into so many disasters it was becoming second hat. (more)