Saudi Arabia has refused to cut interest rates in lockstep with the US Federal Reserve for the first time, signalling that the oil-rich Gulf kingdom is preparing to break the dollar currency peg in a move that risks setting off a stampede out of the dollar across the Middle East.
This Administration is playing Chicken with other countries in regard to the value of the Dollar. This Administration damn well knows it cannot sustain the current military outlays for its folly in Iraq (and, covertly, in Iran) and take care of necessary business here at home. This Administration believes the Hand of God will protect this nation.
This Administration is insane.
And they are going to turn all of us into slaves.
Watch as people flock here with their Euros to buy up everything in sight. You won’t be able to walk your own street without tripping over a German tourist. You are going to have to compete with the world for domestic services.
Come to New York City any weekend and see for yourself.
Did you just read this post? Now click here.