9 Jan 1988 cover, The Economist: Get Ready for a World Currency by 2018! The Rise of the Phoenix world currency from the ashes of national fiat currencies ie. destruction of fiat currencies via hyperinflation. “Phoenix” is of course an occult metaphor. Out of the destruction, the ashes of the old world order, the Luciferian New World Order will rise like a Phoenix!
- Major Currencies All Over The World Are In “Complete Meltdown” As The $63 Trillion EM Debt Bubble Implodes
by http://theeconomiccollapseblog.com/
The wait for the next global financial crisis is over. Major currencies all over the planet are in a “death spiral”, many global stock markets are crashing, and economic activity is beginning to decline at a stunning rate in quite a few nations. Over the past 16 years, the emerging market debt bubble has grown from 9 trillion dollars to 63 trillion dollars. Yes, you read that correctly. Now that emerging market debt bubble is imploding, and as a result emerging market currencies all over the globe are in “complete meltdown”. In fact, at least 20 different currencies have fallen by double-digit percentages against the U.S. dollar so far in 2018, and nobody is quite sure what is going to happen next.
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You may be tempted to think that this must be a good thing for the United States since the value of the U.S. dollar has been rising, but it is not.
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During the “boom years”, trillions of dollars were borrowed by emerging market economies, and a high percentage of those loans were denominated in U.S. dollars. Now that their currencies are crashing, it is going to take much more local currency to service those U.S.-denominated debts, and a whole lot of them are going to start going bad.
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That means that many financial institutions here in the United States and over in Europe are going to end up holding enormous piles of bad debt, and the losses could potentially be astronomical.
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The dominoes are starting to fall, and even the mainstream media is admitting that what we are facing is really bad. For example, the following comes from a CNBC article entitled “The emerging market crisis is back. And this time it’s serious”…
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read more.
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https://socioecohistory.wordpress.com/2018/09/08/major-currencies-all-over-the-world-are-in-complete-meltdown-as-the-63-trillion-em-debt-bubble-implodes/