This is probably true, Harry.
She is a banker, is currently preparing to leave the US after 17 years over there. She's very disillusioned with the place. She is not particularly political, but she believes the dollar will collapse and is desperately trying to sell a house over there before it does. She says that apart from the poor regulation and corruption in banking US accounting standards were not kept up to date and contributed to the mess. She criticises most Americans for being hopelessly over-optimistic and arrogant. she told me that in her view all the growth in recent years has benefited only the top 5% over there, and thinks that the average American , when you take into account the high healthcare costs and even the costs of getting a half-way decent education , are no better off that us, after having been much better off than us in the 50s and 60s.She also thought that America was very "corporatist" and excessively bureaucratic.
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Thursday, 8 October 2009
“Dollar’s Demise Will Be Felt Worldwide”
If the dollar collapses, it would spell economic disaster not just for the United States, but for the world, says Gerald Celente, director of the Trade Research Institute.“It is more than just the demise of the dollar – this is going to be felt worldwide. There’s a major financial crisis ahead. The United States, the world’s superpower, is failing on its most basic level,” Celente told RT.And the reason for the future demise of the American currency, Celente says, is the disproportionate financial system:“We can’t print money out of thin air, backed by nothing and producing practically nothing.”The researcher believes the crisis of the dollar is irreversible, since America is losing its gold – the value of its currency.Posted October 07, 2009
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