The proverbial cheese has been sliding off the US Dollar's cracker for a long time now, so it is NO SURPRISE to read Matt Drudge's banner today:
CHINA-RUSSIA QUIT DOLLAR
Well no kidding!
Unless you have been 'distracted' by the happy-face MSM/FTV telling you "it's gonna be OK" and/or the faux "reality" TV programming you surely expected something like this. You also expect something like foreign sovereign states stopping their purchases of US Treasurys/Gov't Bonds which are J. Wellington Wimpey-esque promises to 'pay you someday for your money today' when they figure-out they aren't going to get paid because ALL the money the USG is currently spending is borrowed because it's broke [read: flat-busted, insolvent, bankrupt].
Thursday 25 November 2010
Sliding to tanking..............from Rico
From Theo Spark at 07:46
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