The saying “all that glitters is not gold” might not be the case in the investment world these days.
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From the category archives:
U.S. Dollar Crisis
While I am on the road this weekend, I am keeping a close eye on the unfolding drama in the global economy. After the S&P’s decision to downgrade America’s credit rating, things are certain to get interesting this week.
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Former Federal Reserve Chairman Alan Greenspan on Sunday ruled out the chance of a US default following S&P’s decision to downgrade America’s credit rating because the U.S. “can always print money.”
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Editor’s Note: In Jerry Robinson’s book, Bankruptcy of Our Nation, Jerry forecasts that by 2020 the U.S. dollar will lose its global reserve status. There is more and more news that points to this forecast becoming reality. As the world recognizes the economic problems in the United States, they will gravitate toward safer currencies in the years to come.
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While the yuan is still years away from being able to displace the dollar in global trade, it is inevitable that the U.S. dollar will continue its downward trend which will require the rise of other currencies. The two contenders to watch closely in the coming years are the euro and the yuan.
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