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papassion -> RE: 133 G77 Nations Vow To Destroy America’s New World Order (7/1/2014 2:30:36 PM)
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I think what is being referred to here is how China, Russia, Austrailia, Japan and others are making deals to accept each others currency for international trade, bypassing the need for US dollars.
Right now, The dollar is the world standard for international trade. Countries trade their currency for dollars to pay for their oil, raw materials, etc. Thus, they must keep a large supply of dollars on hand. that makes the dollar important. As soon as these countries make solid deals to accept each others currency. The dollar will be exposed for what it is. Paper backed by nothing with no demand! Countries will no longer need to keep large amounts of dollars on hand and exchange them for their own currency. This will cause a super oversupply of dollars and like any commodity, when there is a large supply and no demand, value drops.
The finiancial papers are warning how this could cause a drastic drop in the dollar's value almost overnight. stay tuned.
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