Dr. Ron Paul, former representative from Texas and presidential candiate, wrote this post about the recent IMF story that China will overtake the United States as the world’s number one economy this year (a full five years ahead of previous estimates).
The thought occurred to me that China did this quite amazing feat with one hand tied behind their back. What I mean is that the US also had the advantage throughout this time of being the world’s reserve currency. That is a huge advantage and, yet, not only did China compete effectively with such a handicap it actually gained and surpassed the US.
So just imagine what China will do once the US phony dollar is no longer the world’s reserve currency! Once the US Dollar loses that reserve currency status the fetters are off of China’s economy and it will go balistic. The US, on the other hand, has squandered its inheritance and will glory in days past just like all the other fallen empires.