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 Post subject: THE DOLLAR
PostPosted: Mon Sep 05, 2011 4:58 pm 
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The world's economy has reminded us of the cartoon where the Coyote runs off the edge of the cliff and fails to fall simply because it does not occur to him to look down.

Recent events, including stock market falls, the escalating sovereign debt crises, US credit rating downgrade and a near-stalling of growth in the developed world is leading increasing numbers of experts to wonder if the world is facing some fundamental changes.

And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. (Rev 13:16-17)

Four years after the financial crisis began no developed economy has yet regained the output lost during the recession and global stock prices remain almost a third lower than their peak prior to the crisis, and government debt has spiraled due to bank bailouts.

Government bonds are no longer the risk-free investment they once were. In fact, credit markets show that government debt is now perceived to be riskier than corporate debt.

Is it time for soul-searching?

China is now calling for a new world reserve currency to replace the US dollar. How long before the dollar weakens to the point of toppling? Will a new world currency take its place, the Bible seems to teach that it will.

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