Reports in the press this week say that China is considering ways to diversify out of the dollar. The Chinese are no fools. They see what is coming. And they know what it will do to them – the holders of the largest pile of dollars ever assembled. The Financial Times made it perfectly clear to them in a cartoon yesterday. It shows Barack Obama in front of a huge smoking trashcan filled with dollars. The president is pouring on gasoline…
February 16th, 2009 | Bill Bonner | 7 comments | ContinuedAll Posts Tagged With: "financial collapse"
“Going for Broke” to Avoid a “Financial Collapse”
It says in this morning’s International Herald Tribune that the feds are “going for broke” to avoid a “financial collapse.” Yes, exactly…that is where they are going…
December 2nd, 2008 | Bill Bonner | 0 comments | Continued