Decoupling from Dollar

We have had many conversations about how the U.S. dollar has been used as the world's money reserve ever since we won WWII. If you are someplace else in the world and wanted to have safe money...you used the U.S. dollar. The reason for this is the agreement we had with the world from 1945-1971. (or about those dates) We promised that we would only print $35 worth of paper for every ounce of gold we had at Fort Knox. It was called the "gold standard."

Of course Richard Nixon (R) took us off this standard because quite honestly we needed billions worth of bombs and planes to fight the Viet Nam war and needed to print more money.

As of late the world does not like how the U.S. has been borrowing money....most of which we will never be able to repay. The value goes up and down and isn't tied to anything of intrinsic value...and it is making them nervous. Notice how we are having problems selling 20 year or 30 year IOU's....but instead our creditors only want 3 year paper.

We have said in the past that when countries start using other currencies and dump U.S. dollars....it would be pretty tragic for us in the U.S.

Today, Hal Lindsey, famous prophecy watcher for the past 40 years and host of his own TV show....sent out this message;

For much of the 20th Century and into the 21st, the US dollar has been the standard reserve currency for the world. Nations kept their savings in US dollars. It was the currency of international oil trading and for most other commodities as well. But the world is getting nervous. The out-of-control spending by the US government and its devil-may-care fiscal attitude has most of the world's major institutions talking seriously about "decoupling" from the US dollar. That means they may start dumping their dollar reserves and replacing them with other currencies such as the Euro. When that happens, it will so devalue the US dollar that two parties will suffer enormously: the United States (and its citizens) and those nations who hold the largest portions of our currency in reserve, i.e., China, Japan, and Saudi Arabia. How will they collect on our defaulted debt?

It would appear that many prophecy watchers are starting to see the same thing. Is it a coincidence....or a "Godincidence"?

You decide.