top
International
International
Indybay
Indybay
Indybay
Regions
Indybay Regions North Coast Central Valley North Bay East Bay South Bay San Francisco Peninsula Santa Cruz IMC - Independent Media Center for the Monterey Bay Area North Coast Central Valley North Bay East Bay South Bay San Francisco Peninsula Santa Cruz IMC - Independent Media Center for the Monterey Bay Area California United States International Americas Haiti Iraq Palestine Afghanistan
Topics
Newswire
Features
From the Open-Publishing Calendar
From the Open-Publishing Newswire
Indybay Feature

YIKES! Will 2013 be 'Adios' to the Dollar Hegemony?

by DLi
On Tuesday, China's Dagong Global Credit Rating company has put the U.S. on its Negative Watch List, citing the fiscal cliff isssue and expanding debt scale of the country. In its statement, Dagong said Washington lacks the willingness and measures to make debt payments, and the measures adopted in the past 2 years have actually led to long-term depreciation of the existing debt and losses to creditors. The debt burden of the US federal government has risen by 11.7% in 2012, far more than the claimed GDP growth of 3.4% over the same period...
Naturally, this severe downgrading of the US Capitalist economy has not been covered by either the Wall Street Journal nor the Bloomberg business news service, since the corporate-bin-Laden media does not want its domestic audience to see the impending historic Capitalist Credit Collapse. But the truth is that, as Dagong objectively pointed out, the Wall Street-controlled White House and Congress have come to a bi-partisan consensus on monetizing the debt instead of dealing with it in a serious manner.

Up to now, the stumbling and ultimately moribund US financial house of cards is still--by virtue of default--considered a "safe haven" for investors because the recession-plaqued Euro zone and the perennially-delinquent Japan economy are on a free fall. But how long will investor stick with the world's #1 financial Deadbeat from Washington? Indeed, the hottest topic among smart investors is whether 2013 will spell the final Demise of the Yankee Dollar. Already, many keen economic observers in the Western Hemisphere are rumored to be openly verbalizing, "Adios" to the over-leveraged Greenback from the Wall Street casino.

Stay tuned for more desperate Quantitative Easing(QE) initiatives coming out from "Bailout Ben" Bernanke's offices...
We are 100% volunteer and depend on your participation to sustain our efforts!

Donate

$110.00 donated
in the past month

Get Involved

If you'd like to help with maintaining or developing the website, contact us.

Publish

Publish your stories and upcoming events on Indybay.

IMC Network