The Silver Bug: The United States celebrates its seventieth year anniversary of world dominance in the currency markets.
Seventy years ago at the Mount Washington Hotel in Bretton Woods, New Hampshire, it was decided that the United States would have the privilege of being the world’s reserve currency.
Since that time, we have seen the US dollar move away from what granted them this privilege, the gold standard.
Since leaving the gold standard, we have seen an abuse of power in which the world has never seen before.
Politicians have shed their chains of restraint and have made campaign promise after campaign promise.
Each one promising more “free” goodies than the last in an attempt to get re-elected.
But as we know, nothing in life is free.
The departure from the gold standard has ushered in a time of unprecedented money printing.
This money printing has especially increased since the bursting of the dot com bubble and the crisis of 2008, as the FED attempts to fill the void by simply papering it over.
This, as we know, will not work. Also aware of this reality are the major creditors of the world.
The ones who have foolishly taken on absurd levels of US debt, enabling the bad habits of US politicians.
But not for much longer.
As we’ve discussed numerous times in the past, the creditors of the world are waking up.
Most notably are Russia and China, who have been leading the campaign against the US dollar as the reserve currency of the world.
Alternative media have been documenting the actions of these countries and the remainder of BRICS for years now, while the mainstream media have been content to simply ignore the facts.