Is America Bankrupt?
The US Dollar has been falling continuously in last year. The Euro, not so long ago worth 82 cents, is now at $1.27 - this is a gain of more than 40 percent in a very short time. The same goes for the Aussie Dollar: from 50 US cents to 77 US cents (that´s almost 50 percent up). Gold, which was trading at less than $300 per ounce for years, is now long past the $400 mark. What is happening to the greenback?
I had this interesting conversation with a gourmet coffee vendor at the Sydney Airport. Originally from Afghanistan, he arrived in Australia some 20 years ago. He is very aware to what is not been told by the mainstream media. He argues that the US is practically bankrupt - too much debt owed to foreign nations, and no means (but greenbacks) to pay back. American industry? Well - the orders are not pouring in and unemployment is on a steep rise, the jobs are just not there. Ask any unemployed person how tough it is to get a job, any job in America these days.
So - he argues - US does what empires always did - go for conquest. This hasn´t changed since the Spanish and the English did the same centuries ago. Seek out and conquer far lands for their precious treasures / assets. So now the US is control of the Iraqi oil - Oil is a real commodity - with intrinsic value, supply limited by nature (unlike paper money which can be printed) and can be sold on the open market at the going price.
Furthermore, Iraq´s infrastructure was destroyed by the war. Someone is going to rebuild it - you guessed right - corporate America , all paid for by the Iraqi Oil.
Conquest, or treasure hunt, so it seems, is a good medicine to America´s disease. Unfortunately there´s not enough of it yet under control to overcome the illness, hence the patient is still sick, dollar falls.
Last weekend they finally captured Saddam Hussein.
The question is - can they repeat the trick again? Where can they find more of the medicine ? Who is next in line?
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