Back in 1971, Richard Nixon was desperate. He had
inflation, deflation, stagflation and economic volatility day after day. He
also had the Vietnam War that wouldn’t end. Nixon needed a way to redeem
himself (extremely paranoid people need this desperately, and Nixon was
extremely paranoid). In 1971, he imposed a Wage Price Freeze to no avail. America’s
economy seemed like it was going to crash. When forces in an economy wobble,
the wobble generally increases in speed. Then he came to his Waterloo in 1973:
He needed to support both Saudi Arabia and Israel during the 1973 Yom Kippur War. He knew that
his options were limited. If he supported Israel alone, the Arab Countries
would cut-off his oil shipments, and his economy would grind to a halt.
Nixon, always the opportunist, seized the moment: He
brokered a deal with the devil instead. He protected Saudi interests in turn
for creating the dollar as the world’s only currency for petro dollars per
Saudi Arabia’s request. This kicked-off wild economic speculation for the next
forty years. Every president, since Nixon, had to enforce this policy. Thus, Every
president, since Nixon, has received a two million dollar stipend from Saudi
Arabia as they left office, as payment for protecting Saudi interests. And the
dollar has remained the premier currency worldwide.
Enter: 2013.
The BRICS Nations (Brazil, Russia, India, China, and
South Africa) recently persuaded Europe to join their confederation of
anti-dollar states. If more nations sign-on, it will mean the end of
Petro-Dollar Recycling, and the dollar. The last Bastion of the dollar is Saudi
Arabia. If they change the current policies, the reign of the dollar will end.
I have a friend in Israel that can’t cash American checks
anymore. The situation looks grim. Congress just booted discussions about the
budget three months down the road. My feeling is that the world won’t wait for
three months to see if the American Congress will repair their system. World Leaders
will terminate the dollar on their terms…and soon.
I don’t know when the dollar will crash. My book
stated November 3, 2013 as the final day. I know that the Day of the Dollar’s
Demise is close at hand. Beware!
Shalom!
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