I know, i know what the hell is an economic atom bomb?
[side bar oil is at $97 lol told yall back to the topic]
Well not to get to financially complex it goes like this. America owes the central bank [aka the Federal Reserve] lots of money this is called debt. China owns over 44% of Americas debt just like when you owe the credit card company and some other company buys your debt from the credit card company and now you owe them well same thing but on a national and trillion dollar level. America's debt is so out of control that the great investor Warren buffet warned, that if china keeps buying America's debt in the form of dollar holdings and bonds that Americans will soon be paying two taxes, one to America and one to China. Buffet predicts the dollar will fall and has put money on that prediction this is what he said. Buffett said that he began buying foreign currency forward contracts when the euro was worth 86 U.S. cents, and kept buying until the price reached $1.20. It's now worth $1.33. Buffet said he is not adding new positions now but has been rolling over contracts as they mature. Berkshire lost $205 million on currency speculations in the first half of 2004, but more than made that back with a $412 million gain in the third quarter. It's likely that the December quarter report will show another huge gain. This is taken from forbes.com in 2004. http://www.forbes.com/free_forbes/2005/0110/036.html The euro is now worth $1.44 crazy huh. Buffett is not the only billionaire investor that is betting big money that the dollar will fall hard and fast Bill Gates and George Soros are both
predicting the same thing about the decline of the dollar and are making money doing so.
[This news is at least 4 years old people i thought I'd get yall up to speed.]
George SorosI told yall about the fiat currency called the dollar collapsing in my former blog http://blackmoneymagazine.blogspot.com/2007_09_26_archive.html this is a follow up.
Now if you want to know what would happen to the dollar if China dumps its dollar reserves and bond holdings which is the economic atom bomb to America read these two articles and if you don't understand and still have questions leave your questions in the comments section of this blog and i will explain and answer your questions in later blogs in more simple details aka in English,lam ens terms not economic gibberish. after you fully understand this topic i will get into why we will soon have a new currency that's right people the Amero no more dollar dollar bills yall LMAO.
[why you think the president is right now on t.v giving a speech about free trade with Latin America and Canada yall don't know the half people]. Knowing so much often drives me up the wall that's why i started blogging.
Remember the Golden rule people he who has the Gold will rule
P.S read them in the order their in
