What financial pyramid of our days - the largest? Get acquainted - the dollar of
for a world financial system passed the 20th century under a dollar sign of the USA - the main currency of the world. This right was deserved by the country remaining a long time by the world economic leader.
During this period when each printed dollar was provided with gold reserves of the USA, it was really the currency - a standard on which currencies of the world equaled. It could be compared to standards of measures and scales which the mankind long since uses.
Right of emission, or “ productions “ dollar possessed and the only organization - the Federal Reserve System of the USA (FRS) created in 1913 and belonging to the largest private banks of the USA possesses today. In fact it is the private organization with almost unlimited rights. Even the U.S. Government has no right of real control of issue of dollar. But issue of dollar always happens under control of FRS.
And it is rather bad, than well. You judge. Since 1971 US dollars began to be printed in unlimited number without binding to gold reserves of the USA. The accruing overproduction of dollar weight began. Purchasing power of dollar is provided already not only GDP of the USA, but also GDP of all other countries using the American bank notes long ago. Since 1971 till present dollar weight grew in tens of times and nowadays exceeds the actual cost of world commodity weight.
Already many decades of the USA are dared to live beyond means: possessing about 20% of world GDP, the USA is consumed by 40% of all goods made in the world. World riches are now redistributed in favor of the USA only because exchange on not provided currency, in fact - on “ candy wrappers “.
Such system will not be able long to exist, it eventually will fall off, as well as any financial pyramid. Despite solid age of this pyramid, it is threatened by inevitable crash owing to neediness of dollar of presence of the corresponding commodity weight.
The Bloomberg news agency conducted in December, 2008 survey of the famous western financial analysts concerning further behavior of dollar. The majority was inclined to consider that the period of growth of the American currency ended and further its steady decrease will follow.
U.S. Fed within projects on rescue of the financial system from crisis throws additional not provided 8,5 trillion USD in world economy that can loosen completely world economy and destroy a dollar pyramid. To the United States becomes favorable to declare a default because of world crisis and to bury the dollar operating nowadays. On fragments of this pyramid it is possible to create new world currency and to suggest the whole world to start life with a clean slate.
Rumors about new currency excite the world since 2005 when in Texas the summit of leaders of three countries took place: USA, Canada and Mexico. In 2007 the subject was continued in Quebec, it was talked of creation by 2010 in North America of analog of the European Union, with the general borders and single currency.
In the middle of August of last year the American journalist Harold Turner (a pseudonym Hal Turner) from New - Jersey published scandalous information on the existing plot of the U.S. Governments, Canada and Mexico on the website. Three countries allegedly concluded the agreement on refusal of the currencies in favor of new general currency of AMEPO.
As the proof it published pictures of the coins made in his opinion, the American treasury. Turner considers that the USA the actions intentionally conducts the world to a financial trouble that on “ fragments “ dollar to enter new currency of AMEPO, “ having thrown “ other participants of a world financial system.
It is known that no more than 4% of the general dollar weight are provided with gold and exchange stocks of the USA. It turns out that the main world currency keeps only on “ word of honor “ governments. It indirectly testifies in favor of plausibility of reasonings of G. Turner on a man-made origin of world crisis.
Start of current world financial crisis was provoked by crisis of mortgage lending in the USA. And mortgage crisis was generated in large quantities by the issued low-percentage credits which practically all easily could take, even the unemployed. As housing prices were inflated as soap bubbles, on 15 - 20% a year, the population actively took mortgage loans that in 1 - 2 years to sell the built house and to earn a state from a difference of percent.
The first wave of world crisis already came to the most remote corners of the planet, having ruined not only Americans. A world financial system seriously is in a fever. New waves one by one bring down financial systems of many countries. Approaches “ highest wave “ which most likely will destroy the largest pyramid of the present - US dollar.
I do not urge readers to run urgently in bank and to exchange the cash dollars for other currencies. If it is bad to US dollar - it will go hard also with other currencies. It is no secret, that many governments sin with release of own money which is not provided with gold and exchange stocks. The bad example is infectious! All such currencies are doomed.
And we will not regret for it. All the same there is no way to stop objective process. As tell some: “ God restores justice “. Having risen from ruins, the world financial system, perhaps, will begin to live this time in a new way, having exempted from old unfair system of distribution of the benefits. Or perhaps if the mankind did not ripen yet, the new cycle of financial frauds and construction new even more " will simply begin; great pyramids “.
My favourite writer Paulo Coelho considers too that crisis has positive sides. In the interview published in SPIEGEL ONLINE he states the opinion of an economic crisis. Coelho is sure that the world financial system will be able to correct itself. Even if painful changes, " are required; but it is good for mankind: we will return to true values from which departed “.
True values, the writer says, first of all are “ love and normal human relations “. According to Paulo Coelho, people can adapt to everything on light including to crisis. “ It was still when people lived in caves, and now it so - when in Davos is discussed the world " financial system;.
Well, time will tell!