Friday, June 01, 2007

Analyst: US May Collapse As A Superpower

ABC (Eleanor Hall) reports: (6 Minute Audio and Transcript):
A US military analyst who's served in the armed forces and has written on international affairs for more than two decades, is issuing a warning today about the collapse of the United States as a superpower.

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2 comments:

David Wozney said...

Re: “The United States dollar is facing imminent collapse ...

A “Federal Reserve Note” is not a U.S.A. dollar. In 1973, Public Law 93-110 defined the U.S.A. dollar as consisting of 1/42.2222 fine troy ounces of gold.

sonobono said...

Good point; but the FED NOTE is still only worth #1.34 against the Euro.
It appears that the oil standard (or credit standard) doesn't work quite as efficiently as the gold standard.