Looks like the world is about to play the global game of debt default dominoes. Count Greece in as the first to fall, as it has the lowest debt rating in the world, according to Moody’s. Can the other insolvent countries and their fiat currencies be far behind? Who will be next? Will it be Spain, Portugal, Italy, Great Britain or even the United States? If enough countries default, will that allow the door to open wide enough for a one world currency?
This domino theory brings to mind the rhetoric over South Vietnam in the 1960′s, since Americans were told that if South Vietnam fell, then all of Southeast Asia would go Communist. If they had, maybe they would have been a bigger trading block, then say, China? Communism and Commerce don’t get much bigger than that.
Flip a coin – default or inflation. Maybe both. What country really wants the Guinness Book of World Records for printing the largest denomination of fiat currency? Can anyone beat Zimbabwe’s record printing of 100 Trillion dollar notes? That’s “T” as in Trillions, like in the same zero land of United States debt. Didn’t anyone think of getting one of those Zimbabwe’s and paying off the US debt?
Exactly, what makes one country’s paper and printing presses worth more than another country’s paper and printing presses? Is it better silver-tongued politicians? Could it be a false sense of security? Does a George Washington or a Ben Franklin have more sex appeal?
When the world’s debt dominoes begin to fall, won’t it be important to have the best looking currency, even if it is not backed by anything than other than the good faith of the particular country? That’s probably when you will see the first women pictured on American fiat currency. They will want to put the big women (big as in stature) on the big bills. Oprah could go on the billion dollar note. Hillary on the trillion-dollar note. Sarah Palin on the three dollar note. Oops, wrong way, you have to achieve something to be on American money. The three dollar note would be like the Sacagawea coin – nice design, but easily forgotten.
The world is drowning in debt. The printing press and the world’s elite banking cartel have perpetuated a systemic fraud on a scale never seen in history. The dominoes and house of cards are beginning to fall. No words will be able to cover up the effects, especially on the hard-working Americans who fight everyday for the dream.