Economy
End of the War Dollar
by Rory Hall, via Silver Doctors.com:
The military is the backing force for the US dollar. Saddam Hussein and Moammar Gadhafi are prime examples of what happens if you decide exchanging your oil for something other than US dollars is a good idea. It’s not going to happen. Tomahawk missiles for everyone!! 110 Tomahawk missiles were dropped on Libya in one day. 110.
We take a look at the new SWIFT system launched, well ahead of time, by Russia and the impact that it will have on the war-dollar. With China already applying pressure to the war-dollar via the direct currency swaps, this new system will only make the war-dollar less desirable on the global stage.
Several economic indicators hit the wire today, not a single piece of good economic information was released. The housing market continues it’s slide south, the west coast longshoreman’s strike continues and, of course, gold and silver were both monkey-hammered. But what would you expect with such great economic news flowing from the four corners of the United States.
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