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Over the past year, countries traditionally purchasing U.S. Treasury bonds are selling them in droves. The 50-year-old Saudi-U.S. peace pact, which pegged oil to the U.S. dollar, came to an end in June. BRICS, the agreement between Brazil, Russia, India, China, South Africa and others, is changing so that these countries can purchase international goods with their own currency instead of in dollars.
It is apparent to financial experts that the U.S. has spent itself into oblivion with massive printing of money, so faith in the dollar is dropping. There will come a time when our dollar and U.S. bonds lose value and the dollar is replaced as the international currency. That means a lower standard of living for all Americans.
Who do you think as president can guide us through these turbulent times — a prosecuting attorney or someone with an MBA?
Gary R. Johnson
Kaneohe
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