US in economic collapse as China, Russia 'moving away from using dollar'

[Hasbara Buster]

US in economic collapse as China, Russia 'moving away from using dollar'
The United States is experiencing an “economic collapse” because major powers like China and Russia have decided not to use US dollar in trade, a political analyst says.

“The American economy is just beginning to collapse. China, Russia and many other countries are moving away from using the US dollar in trade,” Linh Dinh said in an interview with Press TV on Tuesday.

“So when the US dollar loses its status as reserve currency, life will get much harder here. But coming months will show how desperate this situation is, so the lies will be even more insulting to people who have to suffer daily in this situation,” he added.

The analyst criticized American news media for not telling the truth about the economic situation.

“The lying media put out news that the so-called recovery is picking up speed. The new lie is that the unemployment rate is down to 7 percent, but this is pure nonsense. In fact, only 47 percent of American adults have full time jobs, and 40 percent of US workers make less than $20,000 a year,” he said.

“Many people make so little, they must rely on food stamps to buy groceries. Many go to church pantries. I know a family of four, with two jobs, who must do this. The father, with a full time job, must also sell blood occasionally,” Linh Dinh explained.

He also compared Americans’ income with their monthly spending.

“Even as the big banks receive bailouts and make record profits, they pay their bank tellers only $12 an hour, before tax, and a minimum wage worker only makes a ridiculous $8 an hour. Some even less. Meanwhile, prices go up, especially for food, rent and gas, but the inflation figure is also a lie,” he said.

He noted that the US government “keeps on lying to deceive foreigners and the rich Americans who buy stocks. If there was a recovery, 47 million Americans wouldn’t be on food stamps, a record high, and 1.2 million American public school children wouldn’t be homeless.”

“There are tent cities in every state now. Within a hundred miles of where I am, there are several tent cities where people live in the freezing cold and defecate into a bucket. Does that sound like life in the so-called greatest country on earth?” he asked.

“Meanwhile, the richest Americans become even richer, and this is all thanks to a government that serves only the richest, while masking over their failures and betrayal of ordinary Americans by lying about it, daily,” he concluded.

PressTV - US in economic collapse as China, Russia 'moving away from using dollar'

 

[JayAtl]

Press TV " we report garbage and the scavengers come feasting on it"

Linh Dinh, the psychotic Poet who is called an analyst

some other great proclamations from Mr Dinh

The decline of Atlantic City will not be reversed, and its casinos will be imploded or abandoned soon enough. Under the boardwalk, there won't be one but many blankets, quilts, tarps and pieces of cardboard, and on them, folks will even make love as they almost taste french fries and hot dogs

 

[faithfulguy]

Another US economic collapse prediction and reasoning, another failure.

I see so much US and China economic collapse that its not funny any more. Why are people only predicting the collapse of these two countries and not others like India? Its true that you almost don't see any prediction on "Economic collapse of India"

 

[AUz]

lol, bullsh!t.

America is here. Here to stay for centuries to come. Deal with it

 

[Indos]

If the US cannot print money anymore to back their economy....It will be the Countdown. In what condition it will happens ? Having another currency as US Dollar competitor in the money market can make it happens ....but I believe any country doesnt want it because they doesnt want to have the same fate like Euro zone.....where any of the US Dollar challenger (Euro) will make the currency appreciated and thus hurt the economic advantage of that currency owner. But....if all nation start to make a system where US Dollar is not needed anymore...like in Indonesia... we start not to use US Dollar to have trade with China......so it can be a different matter. Yuan by the way has become number two....passing Euro in the money market.

 

[adwityagrata]

If the US cannot print money anymore to back their economy....It will be the Countdown. In what condition it will happens ? Having another currency as US Dollar competitor in the money market can make it happens ....but I believe any country doesnt want it because they doesnt want to have the same fate like Euro zone.....where any of the US Dollar challenger (Euro) will make the currency appreciated and thus hurt the economic advantage of that currency owner. But....if all nation start to make a system where US Dollar is not needed anymore...like in Indonesia... we start not to use US Dollar to have trade with China......so it can be a different matter. Yuan by the way has become number two....passing Euro in the money market.

US has made it compulsory for all Nations to purchase and Sell Oil using US dollars. So unless other nations start buying Oil in other global currency, US currency will never collapse.

 

[vostok]

Neither Russia nor China is not favorable for a momentary collapse of the United States. Russia and China, as well as other nations is beneficial in slow reducing the impact of the U.S. so it will be and painless for the global economy.
Therefore, no one does not instantly refuse the dollar. Instead, the country gradually limit the scope of circulation of the dollar and move on offsets in national currencies.