UN calls for new reserve currency

        If this happens, it would be like dropping one’s credit rating from 800 to 300. The U.S. debt that is being traded by Japan and China for goods and services from other nations will become worthless. Foreign holders of America’s debt can no longer buy U.S. goods and services, because they are no longer available due to the fact that Americans have permitted the deindustrialization of America. We do not have a manufacturing base and savings. The fake U.S. economy is now a service industry that was built on credit.

        For example, services that were provided in America are now available in India and elsewhere for less. There are still people around who think that America is the world’s engine. It is now more like the caboose, and it is about to be uncoupled.