Alan Greenspan: WE CAN ALWAYS PRINT MORE MONEY - YouTube

I had recently heard of the superaggressive purchase by the Chinese of farms, oilhead production, and fishing rights in Africa.

I initially thought this was just China flexing its muscles as a fledgling superpower. There may be some of that, but it is deeper. China has a crapload of US dollars/US Treasuries, and the leaders are sending more and more and more blatant signals.... they are going to "pay the debt down" alright. They are going to do it with worthless, hot off the press dollars.


The Chinese are not stupid (although the American public certainly is). They are trying to offload dollars into some substantive assets. Africa has a vast glittering wealth of the things that have been poo poohed by the west for years with our highly specialized debt margined economies. The rest of the world is waking up to the need to avoid the rush to the dollar exits as well, which is why gold and silver are going vertical. The dollar is like the old maid card. No one is going to want to get stuck with it. The people who WILL get stuck with it will be those who have their assets denominated in US Dollars (ALL of America's middle class, and a huge swathe of the rest of the world). They are going to be completely wiped out. This is is going to be the greatest bonfire of denominated assets in the history of the world. I am as sure as I can be sure in this world of two things: 1) We are headed for utter financial doom, I would say within the nest 2-5 years 2) There will be what there always is when such jaw dropping dissolutions of wealth occur, and that is war. The latter keeps the masses distracted and gives them someone to blame besides the leaders who created the problem in the first place. Do you have a passport? Do you have a SECOND passport? Just sayin'.
Alan Greenspan: WE CAN ALWAYS PRINT MORE MONEY - YouTube