Is this the end of the dollar

[denuseri]

You seem very sure denu...and with the loss of the AAA rating the odds are getting stacked higher against the USA keeping its status. The FED government are trillions of dollars in debt and the bank keeps printing money it hasn't got.

Thats nothing new. Been happening for decades now.

I said once before, that at the moment the BRIC countries are fast becoming very rich.

The until their economies too collapse under the weight of industrializing during a time of rapidly diminishing resources.

The Chinese have been buying gold like it was going out of fashion, (the market isnt based on gold so thats no different that buying up any other commodity) and almost every person that works in China saves one third of their wages. If push came to shove, could America buy its debt back from the Chinese and stay solvant?

Be well IAN 2411

It would take raising taxes for the rich for about 10 years or so at best.

[leo9]

You seem very sure denu...and with the loss of the AAA rating the odds are getting stacked higher against the USA keeping its status. The FED government are trillions of dollars in debt and the bank keeps printing money it hasn't got.

Thats nothing new. Been happening for decades now.

Well, yes, that's the whole point. And for decades people kept pushing around toxic derivatives and saying it must be OK because it hadn't gone wrong yet, but here we are.

If push came to shove, could America buy its debt back from the Chinese and stay solvant?

It would take raising taxes for the rich for about 10 years or so at best.

And any US government that even suggested that, never mind tried to do it, would be out of office so fast the door would hit them on the way out. The US is as much hooked on spending without taxing as Greece: the difference is, people have stopped lending to Greece.