Weidemer, ‘Aftershock’ author, agrees with James Rickards regarding Global Currency Wars Impacts


Weidemer, ‘Aftershock’ author, agrees with James Rickards regarding Global Currency Wars Impacts

 

Per site http://w3.newsmax.com/newsletters/fbta/video.cfm?promo_code=F9F1-1, released August 2, one can learn about prospects of global currency  wars severely damaging the US economy.  The main source for this perspective is ex CIA advisor James Rickards.  Robert Weidmer was also featured in this video.

Weidemer did not have a major role in the video.  However he did agree that the current total debt and economy which he exhaustively analyzed renders US very susceptible to loosing in a currency war.  In the video the most chilling potential prospect was China (holds whopping $2.5 Trillion of US debt!!)  directing that its hedge fund investments dump securities denominated in US dollars causing a dollar collapse. This is a real threat.  There are reports that China, Iran, Russia, and other countries are interested in replacing the US dollar as the world’s currency.  There is great rational for this – our rate of debt is unsustainable! Time all of our Government leaders act on this. How? (1) entitlement, thus debt reform, (2) economic growth via taking advantage of our newly found vast natural gas and oil reserves (and add 2% to 3% to GDP per Investors Business Daily), (3) major tax reform with Fair Tax most promising as it encourages success and investment.

Economics501

August 12, 2012

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About economics501

1 - free market Capitalist; 2 - Fitness Entrepreneur; 56 years old, VP at an Investment Bank in NYC, ex Venture Capitalist, happily married with 2 girls. Education: Rutgers and NYU. I allow Ted Hruzd, my friend to blog at will here. He has many posts here. I have known Ted since we were both students at NYU. Ted also works for an Investment Bank as a VP in Equity Global Markets. ------------------------- I was very very Socialist leaning as a 22 year old. I then strongly believed in Gov role in helping the poor. However, as a USDA Child Nutrition Programs, I personally accounted for millions of fraud, abuse, and waste of tax payer money. I came to believe that the poor would be best served with less Gov programs and more with direct aid via tax system. Then after 5 years I became a free market capitalist, was a venture capitalist in 2007 and helped start 2 high tech companies. I dedicate this site to champion free market capitalism as the best road to Prosperity. Please join in. If you disagree, fine, but please post with dignity and class and be civil. Argue with facts always.
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