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Many countries are already moving to reduce their dollar holdings, causing the recent plunge in the value of the dollar. Last September, when the euro bought $1.38 US, it was predicted that the value of the dollar would plunge to $1.40 by year's end.
Well, here we are in November, and the dollar has already plunged to $1.48, which is a 10-cent drop in just two months. Because we are talking about trillions of dollars, the losses really pile up for anyone holding dollars. You may only have a few thousand of them yourself, so your losses are minimal. But China holds a trillion of them, and the Middle East holds even more. A 10% drop in the value of the dollar really adds up.
Here's an analysis of 7 countries that are considering more drastic action. If any one of them take a significant step in this direction, the others will probably run for the door as well, causing a stampede.
Dr. Stephen Jones has been writing blog posts since 2005 on a variety of topics from Bible Studies to World News, and he has been writing books since 1992. Dr. Jones' most important writings came after God brought him back into the full-time ministry in 1991. It is here that all his earlier years of searching the Scriptures began to come into clear focus. He combines a knowledge of the Old and New Testaments with a personal revelation of God that began and developed during the "wilderness" period of his life, which he often refers to as God's True Bible College... Read More
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