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  • ben.franklin36 ben.franklin36 Oct 18, 2008 8:11 PM Flag

    Paul Volcker's stealth confession on manipulation

    Good point. What happens when the dollar is no longer the reserve currency?

    China is now the industrial powerhouse of the world as USA once was. Much of our rise was due to industrial prowess...now, our economy is financial product based and a failure at that.

    What next?

    Perhaps the inevitable shift to the Far East will occur as Jim Rogers has said....sure looks that way. We cheered when Russia fell and claimed moral superiority of the "free market capitalistic system." Now we ourselves are shifting to socialism as the gov controls more and more financial institutions...I guess we are now morphing into China then China while China meets us half way with certain capitalistic ideas...interesting times, eh?

 
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