The Death of the U.S. Dollar as the world’s reserve currency will have a profoundly negative impact on the lives of most Americans.  Unfortunately, 99% of the population has no clue.  The only reason 1% of U.S. citizens understand what is going on, is because the Mainstream media and financial networks have distorted the truth and the reality of our present situation.

What happened in the markets today was a perfect example.  Zerohedge published an article today titled,  ‘Traders’ Panic-Buy Stocks, Shrug Off Nuclear Armaggedon, Debt Ceiling, & Biblical Flood Fears, and stating the following:

For a few brief hours overnight – until the bell rang at 0930ET on the NYSE – investors were anxious about North Korea’s most provocative yet missile launch, the terrible flooding disaster in Texas, and lest we forget, the looming debt ceiling debacle. But all of that was instantly forgotten as the machines took control and lifted stocks higher practically all day on a sea of USDJPY-ignited momentum.

Looking at the chart above, we can see that when fear came into the markets during the North Korea missile incident and then the opening of the European markets (shown in the two red boxes), the Dow Jones Index fell as well as the USDJPY, while gold and the U.S. Treasurys increased.

However, after the U.S. markets opened, MAGICALLY everything reversed because the nuclear threat with N. Korea, Biblical flooding in Texas and the upcoming debt ceiling issue no longer mattered.  Those of us in the Alternative Media find this quite hilarious that nothing negatively impacts the financial markets anymore.  Some have laughed while saying, “If a nuclear bomb had taken out New York City, the stock market would probably go up.”  While I doubt that would happen, it is becoming a real joke to watch the financial markets today.

I wrote about the insanity in the markets today and how it has negatively impacted the value of the precious metals in my recent article, The Reason Why Gold & Silver Have Frustrated Investors Since 2011.  In the article I posted the chart below, by a Deutsche Bank analyst Aleksandar Kocic, on why the Markets Broke In 2012:

The description of the indicator above may be a bit difficult to understand so that I will simplify it.  The BLUE LINE represents the “Economic Uncertainty Policy” (EPU index) shown by the frequency of articles in ten leading US newspapers that contain three of the target terms: economy, uncertainty; and one or more of Congress, deficit, Federal Reserve, legislation, regulation or White House in the mainstream media.  The BLACK LINE is the VIX index, the volatility index (S&P 500).  Economic uncertainty printed in articles in the Mainstream Media should correspond with the volatility indicator of the markets (the VIX).

And, this is what precisely took place from 1996 to 2011.  The blue and black lines moved up and down in tandem.  However, after 2011, something changed.  According to Kocic:

Intuitively, when VIX is in tune with EPU, the market is acknowledging the levels of risk through the prices. However, when VIX is low and EPU high, markets are complacent – they are underpricing risk.

After 2011, the two measures of risk decouple with VIX consistently low despite growing uncertainty. The breakdown is structural, and it is visible across all market sectors, not only equities.

What Kocic is saying is that the market has become highly complacent and is severely underpricing risk.

This is exactly what happened today.  Not only do we have a threat of a Nuclear incident with N. Korea, but Houston is dealing with epic flooding from 4-5 feet of rain, while the U.S. Government is about to hit a wall with the debt ceiling issue.  Those three factors would have caused the markets to sell off considerably 5-10 years ago.  Again, according to the chart above, it doesn’t seem to matter how much negative news there is in the economy, the markets have to continue higher or remain elevated, or else the entire house of cards comes down.

The U.S. Dollar As The World’s Reserve Currency Is Under Serious Pressure

According to Clive Maund’s article, DOLLAR update as LOSS OF RESERVE CURRENCY STATUS LOOMS...  if the U.S. Dollar breaches its support level, then it could go into freefall:

While I don’t pay a lot of attention to technical analysis, many traders do.  Clive Maund states in his article that the U.S. Dollar is due for a bounce because it is oversold.  But, once the bounce is over, we could see the Dollar decline considerably as the U.S. Government has to deal with the debt ceiling issue.

When the U.S. Dollar is no longer the reserve currency of the world, Americans will be forced to live on a lot less.  We won’t be able to exchange worthless U.S. Treasury paper for oil, metals, commodities, goods or services anymore.  We will need to trade GOODS for GOODS, not PAPER for GOODS.

We still import 6-7 million barrels per oil per day to run our economy.  We provide ious for a lot of that oil.  Last year, the U.S. trade deficit was $502 billion.  A portion of that trade deficit was for oil.  Without the 6-7 million barrels per day of oil we import, our economy would shrink by one-third for starters.

The only way the U.S. economy can continue moving along is via the U.S. Dollar being the world’s reserve currency.  When the U.S. Dollar is no longer the world’s reserve currency, it will be difficult to pay for oil with worthless U.S. Treasuries.  Of course, the Fed and U.S. Treasury may speed up the printing press to make up for our ongoing trade deficits, but that would likely erode the value of the Dollar.

The Death of the U.S. Dollar will be the end of America as we know it.  Unfortunately, a tiny percentage of those in the Alternative Media Community realize this, while 99% are completely oblivious.


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49 Comments on "DEATH OF THE U.S. DOLLAR RESERVE CURRENCY… Picking Up Speed"

  1. Conventional Oil Peaked in 2006 –IEA-EIA-NATURE

    New Oil discoveries by scientists have been declining since 1965 and last year was the lowest in history –IEA

    We have been draining our oil reserves by consuming more oil than we discover since the 1980’s – ASPO

    Aging giant oil fields produce more than half of global oil supply and are already declining as group – CSM-HOOK 2009

    Saudi Arabian oil reserves are overstated by 40% – Wikileaks

    International Energy Agency Chief warns of world oil shortages by 2020 as discoveries fall to record lows

    UAE warns of world oil shortages ahead by 2020 due to industry spending cuts

    Saudi Aramco CEO believes world oil shortage coming despite U.S. shale boom

    Halliburton CEO says oil will spike due to shortages by 2020 after $2 Trillion in Industry Cuts

    Total CEO warns we are going to have oil shortages around 2020 due to lack of investment

    Chevron CEO warns US shale oil alone cannot meet the world’s growing demand for crude

    HSBC Global Bank warns 80% of the worlds conventional fields are declining and world oil shortages by 2020

    UBS Global Bank warns of industry slowdown and world Oil Shortages by 2020

    Wood Mackenzie warns of oil supply crunch and world oil shortages around 2020

    MarketWatch :Why investors’ should brace for a devastating oil shortage ahead around 2020

    German Government (leaked) Peak Oil study concludes: oil is used directly or indirectly in the production of 90% of all manufactured products, so a shortage of oil would collapse the world economy & world governments/democracies

    We can run from Malthus but we can’t hide, and in the end he’s bound to get us.

    • Unfortunately most of the info in the article is filled with incorrect info. I have been hearing about “peak” oil ever since the so called Arab oil embargo. Over 30 years ago I worked for a firm who was drilling oil and gas wells and their geologist used to work for ARAMCO in Saudi Arabia. He said the largest deposits on the planet are actually located on US territory and these have never been touched especially off the coast of North and South Carolina and in parts of Alaska. The US is simply full of deposits. He said the plan by the major was that to use as much crude as possible outside the US and then tap the deposits and be another Middle East but something happened along the way and that is new technology which has made new finds much easier. Also they were not counting on the fuel efficient cars and trucks that was started by the Asians and Europeans who autos get much better mileage than is allowed in the US.Volkswagen has a vehicle in Europe that gets over 100mpg but is not allowed to be sold in the US. Another factor has been the changing work habits as more and more people around the planet are working from home all due to new technology. In addition people have also changed their driving habits and shop closer to home which if you haven’t noticed has destroyed the malls. Of course car pooling has become much more common. Still another factor is that the new technology has created the “frackers” which are basically small independents. The majors wet dream is to have all these simply to collapse removing 2 to 4 million bbls a day. This would allow the majors to move up prices and get back to equilibrium.
      Most people are unaware that the majors intentionally understate the amount of deposit to help keep prices high. Why do you think Congress recently passed legislation allowing the majors to export crude? If there was actually a shortage they simply would not allow exports and that says it all.
      Now for the dollar nonsense. What has caused the dollar and the Dow to rise for over a year? It has been domestic and international capital flows especially out of Europe as the euro, the EU, most of its banks and countries are in serious trouble. Entities have been converting euros to dollars and moving into dollar based assets. Billions have been flowing out of southern Europe to the north with a great deal flowing into not only European ETFs but dollars and dollar based asset. Even banks in the EU have opened branches in the US also converting euros to dollars and parking at the FED as the ECB has an insane policy of charging banks to park capital. This capital flight has already collapsed two banks in Italy, one in Spain and another bailout for Monte Peshe. Folks this is the tip of the iceberg and it is getting much, much worse in Europe. Capital is simply being parked in markets where there are huge pools of liquidity and that is why for over a year all those who were forecasting a dollar and Dow collapse have been wrong.
      The largest consulting firm on the planet, Armstrong Economics, have computer models that track these flows and then make forecast without any human intervention.They have been in discussions with governments and are bracing for the collapse in 2018 as both the Monetary and Sovereign Debt Crisis will hit. All their clients are still moving capital out of Europe and this will continue. The models forecast back in 2011 that the Dow would hit 22,000 first and then on to 23,000 all due to capital flows. We already hit target 1. All of this will create dollar strength which is the very opposite of what the FED is attempting. They need a much weaker dollar and to stop the capital flight out of Europe. They have been attempting to jawbone markets down to discourage the flight going into dollar based assets even bring out the big banks and Greenspan and Rickards. Hell they even brought out the head of the CME claiming gold should be at $5000 and if this doesn’t show desperation I don’t know what does. Again the collapse of Europe cannot be stopped.
      50% of all world trade in still settled in dollars. The only reason countries like China has set up currency swap agreements is that the strong dollar increased trade settlement cost and they were forced into the agreements. In June and July both China and Russia bought billions in US treasuries so the idea that countries are dumping dollar based assets is just absurd. 75% of international financial transaction is done in dollars. Most commodities are quoted and sold in dollars which always creates demand for dollars and treasuries. Banks have lent trillion in dollar denominated loans to foreign entities and this also always creates demand.
      The simple fact is most the of dollar and Dow collapse nonsense is being being promoted by those who pump and dump gold and silver. None of it is actually based on any economic or financial reality. Would any of you even consider parking capital in any bank in Europe? This is why there is capital flight and the dollar will again gain strength. Forget the dollar index as this is simply based on a weighted basket. Investor and traders watch the EUR/USD, GBP/USD and USD/JPY in FOREX markets as this determines commodity strength or weakness including gold and silver.
      Buckle up folks as Europe implodes we are witnessing a once in a lifetime event!

      • JJ – Your detailed response makes for great counterpoint to the article’s concerns. Open question re: Euro banks is how joined to the hip of US banks they are. First there are
        the subsidiaries of each in the others’ domains; then there are swap agreements between the CB’s, and then the economic and political fallout should your prediction come to pass.

        I think a catastrophic fail of Euro banks would necessitate QE4 or more by the FED, which would be part of government political response to dangerous instability in Europe. The can could be kicked down the road again, but this time the result could be quite different.

        The urge to exit ALL currencies could be overwhelming, and as we know, there is not enough silver and gold available as refuge – as the Euro bank failure would undoubtetdly would be the largest catalyst for financial panic yet. So inadvertently, your forecast may well be bullish for the metals.

        It’s also quite possible your dire prediction may be offset by the European will to ‘do whatever it takes’ to recapitalize the regions financial institutions. In which case the serious political divisions within the US actually do more damage to the $ than the Euro may suffer.

        If the goals are to maintain purchasing power of the portfolio, the advice to maintain PM’s at 5-10% weighting may, in the end, not be enough. Considering that it is well under 1% at present, it seems reasonable to reconsider these weightings while you still can.

    • PETER PAGLIARO | August 31, 2017 at 6:41 pm |


  2. Thank you Steve. Can’t help but keep thinking Silver is seriously on Sale.

  3. Tell me again, how is the dollar going to die if the global oil trade is denominated in dollars?

    Are you telling me all the people of the world are going to come together and say, ok, game’s up United States, we aren’t using your dollar anymore?

    I don’t think so. I think the dollar is the international reserve currency until complete systemic breakdown, everywhere.

    • Countries are already bypassing the dollar. Russia and China being the most prominent. They trade between themselves using their own currencies. Others are doing this to a certain degree.

      • The death of the USD is highly exaggerated.
        The USD will be the global reserve currency for many more decades.

        This is just another misguided eulogy writing off the USD like 1,000’s before and they have all been wrong.

        • Stuart,

          LOL…. thanks for the laugh. I needed it.


          • We will wait & see who is right.

          • Stuart,

            I’m sorry, you can’t use that line… that’s my line.. LOL. Yeah, let’s wait around and see who’s right.


          • I did not say that nothing can happen to the USD, I said that if it is it will not come from any BRICS concrete actions from them in order to dethrone it.
            Indeed, some serious issues could happen from peak oil and lead to some consequences but do not expect free markets paradise to take place in china with yuan taking the old USD role.
            BRICS is a goldman sachs scam which could be read as chinese oligarchy imperialism, they currently play the good guy role but only because they have not the means to do otherwise.

          • Stuart,

            I have to agree with Steve. I am just a lowly person, but every month I go to the grocery store my money buys less and less. My purchasing power is eroding.

            Has anyone else noticed a few goods going up by at least $1 in August alone? I remember seeing this type of increases at the beginning of the year, not the middle.

          • Well how I say –

            Time will tell

        • Bernard Valencia | August 30, 2017 at 1:10 am |

          You are sadly mistaken . The USD is losing it’s hedgemonic grip as we correspond.
          I’ve been waiting for this for a long time. It’ll be very painful, but a needed shock to the lies, & greediness the world over.

          • robert sinclair | August 30, 2017 at 3:00 pm |

            Dream on

          • You’ve been eagerly awaiting the fall of the dollar? As if some angel nation will right all the wrongs of the dollar. Greed and money have been around as long as the oldest profession, prost_itut_ion. Once the dollar is dethroned, another greedy and corrupt monetary system will rise from the ashes to replace it.

            This monetary shell game goes back further than the Roman Empire.

        • Totally agree. Many more decades is maybe too much but for the next years there will be nothing as in fact BRICS has no real strategy to escape western capital markets. If they try they will just implode, that’s why it is always postponed to next year.
          They are helpless, and it will take another 20 years to make a railway (new silk road) and their only strategy is to inflate real estate and their stock markets : sounds familiar ?
          However maybe at some point the chinese oligarchy will try to overcome world dominance because of their absolutely huge egoes, domination dreams, money fetichism, but if they are doing this currently, that is far from sure they will win despite poor western fundamentals…

          • There is no other currency the world can jump to in confidence. I think it is funnier to think Russia or China will take USA’s place. Not going to happen IMO.

            USD stays for a while longer. I agree with Stuart.

          • RD,

            Fine words and analysis. However, the one important INGREDIENT that you forgot to include in your comment is OIL. Everyone continues to believe that BUSINESS AS USUAL WILL go on for decades and decades.. LOL.

            So many people are either ignorant or misguided about the energy. So, yes… they believe the world economy will continue moving right along for the next 2-3 decades.

            This is FOLLY.


        • Stuart, I guess Rome never undervalued their currency, nor Germany!
          Look at the American coins, they are becoming thinner and thinner; you can’t even tell what the metal is anymore. IMHO, the $10.00 note is being removed from circulation. . . Any store you go to they seem to have a dwindling supply of 10’s for change. . . try it. It only cost 0.13cents to print a hundred dollar bill, what is that worth? Finally, ask yourselves if the Shale industry has made any money? even when it was trading at $100.00 dollars a barrel…Finally, The cost of building Nuclear power plants can not produce a profit for the life of
          the plant who is going pay for it??????

          • Andrew, do you know how long it took for the Roman currency to be devalued. It took centuries.

            All fiat currencies are eventually replaced by another fiat currency. But it can take a long long time.

          • Stuart,

            Yes…. it’s true. It took centuries for the Roman Empire’s currency, the Denarius to be devalued. However, it only took at 2-3 decades for the Empire To collapse from under 1 million people down to 12,000.


        • Well, most people think of the USD as the dollar index, which is just the dollar measured against a basket of other fiat currencies (mainly the € & Yen), all of which are trying to devalue their currency to get a slight economic (export) advantage (while the people pay the price by higher import prices / inflation). All national fiat currencies have lost 90% and more in purchasing power against gold and silver over the last 100 years, some essentially 100% (Zimbabwe). Watch the price of gold in SDR ( As such the dollar did not, is not and will not make an exception, as the current “inflate or die” mantra is obviously very much in play. Thus, Steve IS already right. The US dollar index could hit 25 or 250 and still lose against gold in either case in the long run. “Paper gold” might even go back down below 1000$ (though unlikely IMHO), but getting any fizz at that price would be another story. The quoted “price of gold” is really the product of paper gold that is leveraged 200:1 at the CONeX/LBMA – a situation that is highly unsustainable, as the East continues to suck up the global mine production of gold every single day. When the fiat (and paper gold) ponzi breaks the price reset will be swift, and all the holders of paper gold certificates of all kinds will be left in the cold and behind as the price gaps up on a lack of bids. This is not an IF but a WHEN, and until this happens, all the gold holders will continue to look like fools.

          • Agreed chx. Fiat currencies only work in a ‘growth’ environment. We stopped groing, bets on the dollar is a losing game.
            Fiat currencies are built on trust (trust in the fact we are still groing) and the ability we can pay back debts. For that we need growth!
            With declining net energy we cannot grow!
            Forget fiat currencies like the SDR, dollar, euro whatever.
            They will try to shove some unbacked crap down our throats though, again. Works for another 8 months or so.

          • houtskool, according to Hayek it is capitlism itself which cannot survive to negative growth, but he was surely a “bolchevik” !

          • I don’t disagree with most of that CHX13. Harry S Dent reckons (from memory) when TSHTF! The smart money (when it has to make a choice) will still see the US Dollar as the safest place to be in a monetary crisis; hence the US Dollar will rise and GOLD will drop to say $700.00.

            Jim Rickards reckons before we get to that stage the IMF will step in with an SDR rescue!

            I have the utmost respect for the above two people, they would know more than I would ever know in ten lifetimes BUT and I say BUT they fail to recognise the roll ENERGY will play in this ENDGAME! OIL IS AT THE TOP OF THE LIST. Steve is correct on this IMO.

            Every day here in Australia the talk is about the cost of electricity. It is the most expensive in the world. Our Prime Minister reckons he can solve this with renewables!!!! There is no discussion about OIL at all.

            We have to start thinking about how we can help ourselves in a practical sense because the boofheads in charge have stuffed up big time. I have said to my family and my friends; if you have power to your house you can put up with most other inconveniences. I bought a generator a few years ago; it runs my whole house during outages. I will install Solar Panels if and when I have to.

            Our Monetary System could become very “Laissez faire” as it was before 1913 and before the BANKSTERS got control of it. This would mean goodbye FIAT.

            Out goes a “Unipolar” world and in comes a “Multipolar” world eventually and with it perhaps, currencies with a store of value supporting them. That means GOLD and SILVER.

            TPTB think they are smart enough today to control the message and everything else; I think they are in for a surprise, the gate is open and the horses have bolted. You should just sit back and enjoy history; as tough as that might be. Make life as comfortable as you can. People are tough! Politicians, Bankers and Corporate Executives are weak especially without their power bases.

      • robert sinclair | August 30, 2017 at 2:48 pm |

        Using their own currencies is the same as using dollars

        • robert sinclair | August 30, 2017 at 2:52 pm |

          Fiat currency is not built on trust but are imposed by force. The world is forced to use the dollar system.

          • The day approaches that the world is forced to drop that same dollar. As a reserve currency. I really don’t care about currencies or metals ‘prices’. I do care about the size of it today, the interconnection with everything we do, think, eat and imagine.

  4. bill simmons | August 29, 2017 at 7:00 pm |

    In 1975 the average spot price of silver was $4.50 approx.In accounting and investment terms a good investment would double every five years.Thus a 1 oz investment in silver should have doubled over 9 times to be considered a good investment.So a current valuation of around $2300 would have been necessary.Is silver currently cheap or has it always been a very poor investment.

    • Your example seems to have little relevance on current economics.
      If we buy Silver today @ 17 & in 3 years it’s 60 or 70 or more, is that a bad investment?
      Silver is currently cheap.

      • Bill Simmons has shown Silver is a bad investment.
        Always has been always will be.

        • That’s because silver is not an investment at all. Its a commodity, its money AND it is an insurance policy against the failure of fiat currencies, as happened 123 times before.

  5. Thanks mate

  6. As usual, your articles are brilliant!!!!!

    I can’t say thanks enough for working so hard to educate those of us who wish to BE educated!!

  7. robert sinclair | August 30, 2017 at 12:30 am |

    The dollar dies when countries stop using any currency alone for export/import trades.
    Not many people understand this. All currencies value are based on dollar and gold holdings at their central banks, currently. I cant see this changing anytime soon.

    • silverfreaky | August 30, 2017 at 1:10 am |

      That’s true.When this happens all other currencies are dead too.The chinese buy at the moment us-bonds.Why would they do that?It’s the opposite.All centralbanks working together.Why does germany only take 50% of his gold reserve bring back?Why does europe make a debt union?I don’t say this is right.I only say what i see.

      • Could someone is the US government or banking system have promised the Chinese they could trade their bonds for Yosemite or Yellowstone =, when those bonds approach worthlessness?

        • silverfreaky | August 30, 2017 at 1:23 pm |

          It’s not so easy.When your book is full of US-Bonds you sit in the same boat like the US-government.The chinese need the big US-market.Additionaly they cannot sell the us-bonds because of their own balance.

          I thought they minimize over time the number of US-Bonds.But now they buying again.

          • robert sinclair | August 30, 2017 at 3:27 pm |

            Do you know why theyre buying again? Its because they, the chinese government (Xi?) are looking after their best interests and that is not whats in the best interests of their people, who are mind controlled debt slaves. The chinese government have been given their orders by the bankers via trump and now they are trying to continue their monetary debt based expansion.

  8. Oh come now Steve. I’m suuuuuure stocks have reached a permanently high plateau…

  9. DisappearingCulture | August 30, 2017 at 5:24 pm |

    “Not only do we have a threat of a Nuclear incident with N. Korea, but Houston is dealing with epic flooding from 4-5 feet of rain, while the U.S. Government is about to hit a wall with the debt ceiling issue. Those three factors would have caused the markets to sell off considerably 5-10 years ago.”

    Yes and another article on this topic:

    • Three? You missed the Nuke plant that is about to flood, a bit like Fukushima.
      Then there is the Chemical plant that “Can’t stop the chemicals catching fire.”
      Then there is the loss of fuel production…30%+ of the nations entire production, underwater. Three would have been good… till all those Black Swans took up residence…🔥

  10. BTW I have said this in before!!!!!

    Since 1932 (85 years ago) the #DOW Jones has sat upon and exponential trend line that increases 100% every ten years. There was a period of time in this trend between 1982 and 2001 (19 years) it increased 100% every 5 years. I call it the Petro-Dollar Trend. What ever you call it, it was achieved by a group of people called the “Baby Boomers”. A group of people 4 times greater than the previous generation, moving through the economy with access to a plentiful and cheap energy supply.

    The existing trend (which started in 2009) is also moving exponentially 100% every 5 years ONLY this time it is with “PRINTED MONEY” and there is not a generation 4 times bigger than the “Baby Boomers” to support it.

    It will not last! It will fall over! And I don’t believe TPTB are as clever as everybody thinks they are. They are DUMB as! You only have to see how much money is spent on the military complex and the problems in Texas to see where their priorities lie.

  11. These comments on Steve work are rather like the blind men trying to discover the elephant tactilely, each man is correct but limited to his input.
    Historically there is always massive economical upheavals when new methods or ways of communication and commerce are employed. For thousands of years barter or exchange of goods and services were done using gold and silver with the means of communication being the horse or walking, which averaged 4 MILES PER HOUR!
    The rapid acceptance of the hated paper currency became necessary with the event of the RAILROAD which gave communication through Morse code and commerce at 25 MILES PER HOUR! GOLD AND SILVER became obsolete for commerce (but still a store of value).
    As commerce spread through the small towns with autos range extending to 5 times the distance then the next town, with speeds of over 50 MILES PER HOUR and airplanes at 500 MILES PER HOUR the credit card dominated fiat currency for commerce.
    NOW is totally different!
    Commerce is done globally over a medium that is done close to 186,000 MILES PER SECOND!
    More an more goods are being digitized and reproduced on 3D printers!
    Credit cards (to service air travel) fraud has grown to over $14 BILLION as ECOMMERCE has made AMAZON greater than ALL other brick and mortar retailers combined!
    What happened to the world based upon the HORSE and wagon once the railroad and automobile made their appearance?
    What was the impact of commerce and communication going from 4 MILES PER HOUR to 25 MILES PER HOUR?
    As available energy declines how much more will we depend on the internet ?
    We are watching the disintegration of FIRST; organizations built upon commerce and communication before the railroad.
    Then SECOND; All organizations built upon commerce and communication before the airplane!
    The RAILROAD and AUTOMOBILE was the catalyst for the 1857 to 1929 financial crisis with insufficient currency to meet demand.
    So too the INTERNET has been the catalyst for the 2000 to 2020 financial crisis, as the delinquent action in creation and adoption of a Internet currency that can transact at 186,000 MILES PER HOUR HAS NOT BEEN ESTABLISHED!
    The effects are not the cause.
    THERE IS MORE TO THE ELEPHANT IN THE ROOM then just his trunk, tail, legs or ears!

  12. R. Frank – the customers in a Mcdonald’s barely operate at the speed of sound, let alone the speed of light. Put down that Bill Gates book from the 90s.

    • Eric good to see you post again.
      If you, as I do, pay for programing labor in India or Indonesia, they prefer that you begin with a down payment. One third in bitcoin is sufficient for them to start working.(payment received in 10 minutes) Then when when finished the second third then after the customer have reviewed the programing and accepts it, you send the final bitcoin payment. The whole transaction from beginning to end can take place in 1 day! You haven’t had to deal with other currencies or countries much have you?

  13. Eric
    Here is Andreas Antonopoulos (the top expert on crypto-currency) on what is fake currency enjoy.

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