The US King Dollar Has No Clothes. America’s “Toilet Paper Money”
By Matthias Chang
Global Research
August 12, 2015
The conventional wisdom is that no other currency in the world can support the global bond market save the US$ Toilet Paper Money. Therefore, we cannot do without the US$ toilet paper money!
The so-called experts in economics, including the Nobel Laureates are always reciting the mantra of the global central banks led by the FED and the Bank of England (BOE) that the US$ Toilet Paper Money is indispensable to global monetary liquidity because it is the anchor of the global bond market, specially the US Treasury bonds.
Such is the accepted wisdom of the so-called wise men and women of global finance.
If truth be told, this “accepted financial wisdom” is a big lie!
In fact, the purported strength of the US$ is actually its weakest link, the Achilles Heel of the entire global financial system!
Why?
A bond is an acknowledgement of a debt. It is the glorified name of an “I.O.U.”
The present financial system is grounded on Debt.
The ridiculous situation is that, bond markets can only grow if there are more debts.
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