Anyone who knows how formal devalution of a currency knows this is how they do it. They simply close the banks down and devalue the currency, leaving people unable to take out their money.
This is exactly how they did it in Argentina in 2001.
If this is true, Is this the begning of the end?
The author sounds fairly confused. Bank ‘holidays’ are put in place by the gov’t when banks are … bankrupt (the case of argentina) - the move is an attempt to prevent a widespread banking collapse but of course it fails.
I don’t think the US government needs a bank holiday to further devalue the dollar. They’ve been devaluing the dollar since 1930 without closing any banks.
Also , what is this supposed to prove ?
It suggests plans to massively devalue the dollar.
How ? What’s the point of buying local currencies ?
It should be obvious that such devaluations are never planned. They are improvised on the spot.
Yeah, local currencies are popping up across the U.S. Last I heard, about five months ago or so, there were about 50 different places in the U.S. using a local currency that even banks will trade with in some cases. There are exchange rates between U.S. dollar and local currencies that help keep these local currencies viable in the current dominate exchanges that continue with the U.S. dollar. More on this:
(I guess it’s gone up from what I last heard at 50 already, to according to this video, it is at ca. 75)
So, you don’t believe the IMF and these international bankers who meet yearly, don’t plan shit?