[dehai-news] A US Dollar conspiracy theory?

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From: wolda002@umn.edu
Date: Sat Feb 07 2009 - 15:25:04 EST

A US Dollar conspiracy theory?

Global Research, February 4, 2009
Russia Today - 2009-01-30

While the world economy collapses the American dollar continues to
strengthen its position in the world, to little wonder – it’s getting
back to its basics as the backup currency on every continent except

Yet since the U.S. has debts two times exceeding the world’s GDP one
cannot help but ask oneself – what’s next?

The web is flooded with lots of theories and rumours about what would
happen to the American currency whether, when and where it would fall –
or what else. Some of them look like senseless fantasies, others resemble
futurologist’s predictions, but the conspiracy theories of all kinds and
colours are firmly on top of all.

“Dollar will crash soon”, “U.S. will change currency”, “Dollars
will be sold by weight” – as some smart Russian blogger put it – who
creates such buzz and is there a rational reason for the slightest of

Well, there is a fact that poses a question, with a big Q. Dollar monetary
stock worldwide has grown two-fold over the last half-year and this
printing press does not seem to be slowing down.

Would this financial pyramid eventually collapse (since these lots of green
paper are not based neither on gold or something equally solid nor
collateralized to be collateral)? No one from the U.S. Federal Reserve
System so far has intelligibly explained what they are planning to do with
the paper, and this mystery probably holds the key answer to the question
posed above.

The unimaginable trillions of dollars of national debt make the currently
realised $US 700 billion bailout plan look pale in comparison – as well
as the $US 850 billion next one currently being discussed.

The truth is that all this money just does not exist. You can print
banknotes but you cannot necessarily call them “money”. Imagine this
money distributed equally among every living person and fancy what would
happen if they all decided to buy goods simultaneously – there’d not be
enough goods on this planet. What’s next? Guess for yourself.

So, the devaluation of the dollar is probably not far away but what could
happen before this event? Here are just some of the most fabulous yet
entirely possible worst-case scenarios.

Option 1. Have you heard about Amero? Not yet?! Well, that’s how most
probably will be called the currency of the united economic zone of the
U.S., Canada and Mexico. Unimaginable? You’d better imagine what to do
with the green paper stockpiled throughout the world if the exchange rate
is 1:10 or even 1:100.

Option 2. This world is infested with forgers and false dollars (most of
them not in the U.S.) When the hour comes and the new (let’s say red)
dollar is produced, all the rest of the world would face the problem of how
to use the green ones. Beware! The print is toxic and you’d die anyway
when trying to burn them in your fireplace once you survive the heart
attack of hearing the news itself.

Option 3. Everyone knows that the U.S. is a cheap country. Americans do not
hellishly spend popular $US 100 banknotes as often as the rest of us. No
use – no need. Why don’t they call them off altogether? They are nearly
all false, anyway.

Option 4. The U.S. declares itself technically bankrupt. Impossible? There
are RULES, you’d say? Everything’s possible for the country that has
changed the rules of the game countless times to become the biggest
consumer sponging on the rest of the world.

Option 5. Uncontrollable printing of the dollar banknotes alone would
collapse the dollar system that would make the debt returning for the U.S.
Federal Reserve System a task somehow much easier than it is nowadays.

There are economists that do hope that a number of regional unified
currencies would emerge within the near future in Asia, Latin America, and
Arab world, and even among post-Soviet countries. The euro is a spectacular
example, but you do not need to be an economist to understand that such
processes expand for decades (consider again the euro example) while the
crisis has already stepped in and mushroomed as straight and tall as an
atomic cloud.

That is why the more probable seems an Option 6, which is a good old
receipt when some countries are busy exterminating each other’s
population while the other countries are just accepting arms contracts from
both warring parties. Just keep in mind we live in a nuclear age. Again
unthinkable? Than take a closer look at the Islamist-torn Pakistan and
India and their relations after the Mumbai massacre. Nuclear weapons? They
have them both.

If they wage war against each other, they’d be no such thing as Asian,
Arab or even European financial markets at all and nobody would care what
the hell happened to the dollar.

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