Things are getting worse for the US Dollar at an ever increasing rate.  This year, most estimates put the US Budget deficit at between $1,000,000,000,000 (1 Trillion) and $1,500,000,000,000 (1.5 Trillion) dollars.  The numbers have gotten so large now, that the range of estimates is half a trillion dollars.  This is with a supposedly strong economy and interest rates at 5,000 year lows.  If you're not worried about the fate of the dollar, you are willfully keeping your eyes shut.  

<center>![fiat-currency.png](https://steemitimages.com/DQmNXKyL3cG1aCyBmAU5z95Ho4ATquGjGxwvcXtFXHLZEoo/fiat-currency.png)</center>

<center>[Source](https://www.zerohedge.com/news/2018-04-02/there-no-escaping-history-fiat-currency-eventually-fails)</center>

Its not like this is a new thing that Americans invented.  There are over 600 fiat currencies in the dustbin of history.  Like all things American, we just did it bigger...much, much bigger and the consequences will, unfortunately for the world, be much much bigger.  

1,400 years ago, copper backed China’s initial paper currency. When copper became scarce, China began to make iron coins. The iron currency became over issued and soon became devalued. 

France too has had an interesting history with paper money.  It may be the only country so far to face economic collapse not once, not twice, but three times by flooding the country with fiat currency.  Louis XIV left a debt of 3 billion livres for his successor to deal with in the 17th century. Louis XV desperately needed incoming tax payments and demanded these be paid in paper currency, the paper currency was quickly overprinted and became worthless.  In the 18th century, France began another attempt at printing paper currency called assignats. By the end of the century, the assignat suffered over 13,000 percent inflation. Napoleon instituted the gold franc, which stabilized the nation's money. 

You would think the French might have seen a connection between the stable economy and gold-backed currency.  No, politicians do what politicians do which is over-promise a people with their own money and then just print more money.  

France reverted to paper currency in the 1930s, the paper franc. In just 10 years, the fiat franc became devalued by 99 percent.  Nice try France, nice try.

In Germany, following WWI, 133 printing companies were used to print the new German mark after Hitler abandoned the gold standard to fund his war. The mark became more than worthless.  It was used to heat furnaces.  Burning the paper currency in your home to keep warm was more efficient than using it for trade.

<center>![hyperinflation.jpg](https://steemitimages.com/DQmULh5bu3hkkvi5nm7m2sFYMFBXSnXzYz6nnuCwnvkfbRG/hyperinflation.jpg)</center>

The US in once again following the pattern of history only this time on a world-wide scale.  In fact, every government is now using paper unbacked currencies and racking up debts at unfathomable scales largely based on the lead of the United States and the Banksters.  The only thing that has fostered this experiment for so long is the recycling of US dollars into the worlds largest commodity market, Oil.  Until last week, the only currency used in major markets for oil was the US dollar.  This all changed when the Chinese launched their Yuan for oil contracts and China is no joke in this market.  China is now the worlds largest oil importer and if you don't think this will have a long term impact on the world's appetite for the US dollar, you are being naive.  

<center>![smash.jpg](https://steemitimages.com/DQmbKNzUyd2mmYrXdCAMv2DLFXcQehbjx7qJwbvFDShRmfe/smash.jpg)</center>

<center>[Source](https://www.zerohedge.com/news/2018-04-01/chinas-unofficial-mouthpiece-proclaims-petroyuan-propel-currency)</center>

The launch of the Yuan for oil contract went much better than expected.  China largely depends on crude imports and the price volatility in the commodity market is a major risk to their economy. It only made sense to launch the crude futures market to address this risk and also to gain more pricing power over the crucial commodity as well as to continue to drive the Yuan into greater international significance.  The Yuan's gain is the dollar's pain.

I am Lord @matthewwarn and I have Stackitis...but there are worse problems to have in life.

<center>![unnamed.gif](https://steemitimages.com/DQmQAxi6nAtPStxnKr1VuFHs8LHuHVSnieVGPDPvFVeWJkq/unnamed.gif)</center>

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