The Asian Development Bank warns of threatening monetary turmoil

[Speck Tater]

The oil trade is uneasy about the increasing impossibility of reinvesting the petrodollars they are accumulating, whereas the bank world is pondering over the dollar’s real value. A downturn in trade has just begun on the stock exchanges of the Gulf, even as the Asian Development Bank was warning its members against a possible collapse of the US currency. What if the dollar was really no longer anything but fiat money?

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Oil traders are increasingly reluctant to entrust investment funds with their money. They know that international accounting standards have been modified in such a manner that nowadays, both national states and multinational corporations have assets they do not own entered in their balance-sheets. The shares they hold are being posted in their accounting, not at the purchase price, but at the actual stock quotation. While this is of no consequence at times when markets are on the rise, it will prove fatal in the case of a stock market crash. From one day to the next, central banks and major corporations could find themselves completely ruined.

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The dollar is no longer supported by the economy of the issuing country, but by the economies of those utilizing dollar reserves; banks, however, are able to verify the currency’s adequacy using the M-3, an annual indicator which establishes the volume of greenbacks in circulation. ... Through a cascading effect, the US are also concealing the costs of their presence in Iraq in order to hide the size of the fraud they are committing.

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