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End of US$ Global Reserve Currency by Jim Willie     16-Oct-09 10:14 am    
http://www.321gold.com/editorials/willie...
If you believe all is well in Japan and Tokyo support will continue, then you miss the ‘Lost Lackey Effect’ from the last year. The Saudis will not carry the US bags any longer. The Arab squires will carry bags with Kremlin markings. The Japanese will not carry the US bags any longer. The Toyko squires will carry bags with Beijing markings. The chief strategist at a major Japanese bank Sumitomo today warned that the US$ might fall to 50 yen this year. That would be a 45% decline. Daisuke Uno at Sumitomo expects the USEconomy to suffer a second sudden recession. He said, “The US economy will deteriorate into 2011 as the effects of excess consumption and the financial bubble linger. The dollar’s fall will not stop until there is change to the global currency system.” The strong warnings reflect the growing rift between Japan and the USA. The outcome of recent elections in Japan changed the entire bilateral landscape. The pro-American LDP party was ousted, a major new piece to the ongoing Paradigm Shift.
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End of US$ Global Reserve Currency by Jim Willie
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