Screwing USA , the easy way !!
Below is a email I received. Comments expected
Below is a email I received. Comments expected
Hello folks,
Yesterday I recieved a mail with a powerpoint attachment containing a
presentation about how USA can be humbled from it's percieved status of a global bully.
So I thought of verifying it from reliable sources / experts in economics and finance if
any on this group.............in theory, it does look plausible, atleast to simpletons
like me.
Has anybody else seen that mail ? Here is the crux of that presentation which exhorts
everybody to sell-off US dollars and explains how it will work.............
Mehatire Mohammad, the prime minister of some Islamic country (naturally !! ) has
presented the following plan of action urging everybody to :-
-Sell a US $1000 each.
-Buy gold or any other currency in lieu
-convince 10 friends to do the same
-Stop dealing in USD altogether
-After 10 rounds, market will be flooded by 1.1 trillion USD
( this has been illustrated using a arithmetical table ). He claims that doing so :-
- Will cause a drop in the rate for USD
-Which will cause panic among investors and institutions, who, as a result of this will
start selling their USD.
- All Govt cash reserves will gradually change to Euro /Yen or other currencies
-Oil producing countries will shift to other currencies
-USD will become as good as the paper it is printed on, as the US federal reserve does not
back it's currency with gold.
-In a nutshell, it will break the backbone of US economy and bring it to it's knees.
I think this provides a good topic for atleast a sincere discussion / analysis to prove or
disprove whether the US economy is, in fact, as fragile as it has been portrayed
above............
Awaiting........
AY