Despite the September ECB hike and warnings by President Lagarde that inflation is still much too high, the market has increasingly turned its focus to the economy, succumbing to the idea that the European economy may already have entered a recession. Nowhere better is that view being reflected in the euro, which has given up all the gains it made against the dollar from December 2022 to July 2023. Since mid-July, the common currency has lost nearly 8% against the dollar. According to data from SWIFT – the global messaging service for cash transactions – the use of the euro has collapsed in the past nine months. Its share in transactions dropped from 38% in January to 23.2% at the end of August, which is the lowest level recorded in, at least, twelve years.
U.S. CONGRESSMAN: " . . . IF WE'RE GONNA LOSE THE DOLLAR . . . "
Congressman Matt Gaetz (R-FL) speaking about the growing BRICS nations engaging in "de-dollarization," Gaetz told reporters ". . . if we're going to lose the dollar . . . ." Does Gaetz already KNOW the Dollar is doomed?
Here is the one minute, fifty second clip, so all of you have context of the Congressman's remarks:
This off-the-cuff remark by Congressman Gaetz made me sick to my stomach when I heard it. In __my__ view, this validates ALL the reporting I have been doing on this web site and on my radio show, telling my readers and listeners the US Dollar is collapsing and will be rejected by nations around the world as a means of trade.
That would utterly cripple the United States since we don't manufacture mcuh of anything here anymore; we import most of it from other countries.
If those countries stop accepting the US dollar in trade, how will WE get what WE need?
Stock-up, folks. Food, clothing, medicines, etc. Get what you need NOW, while it still can be gotten.
If this collapse takes place, I suspect it will happen like a lightning bolt out of the blue. No advance warning before it all goes to hell.
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