Stocks dive as Russia abandons U.S. dollar

The US is now ever more in play.

Good wrap on last week, we will see what this week brings.




WND
By Jerome R. Corsi
12 April 2014

NEW YORK – The stock market dive Friday that brought the Dow Jones Industrial Average to near 16,000 and the Nasdaq to below 4,000 might reflect an accelerated move by Russia away from the petrodollar in retaliation for the Obama administration’s threatened economic sanctions over Russia’s takeover of Crimea.

Russia’s politically motivated attack on the petrodollar could trigger a major U.S. stock market collapse amid a global loss of confidence in the dollar caused by the Federal Reserve’s continuing policy of buying billions of dollars monthly in U.S. Treasury debt.

The Fed hopes to stimulate the economy by artificially keeping already depressed interest rates at zero.

With the Fed having limited options to address a panic caused by a bear market that could continue into next week, the risk of heavy selling of the U.S. dollar in international markets could raise prices in the increasingly import-dependent U.S. economy.

Hyperinflation could result, pushing the struggling economic recovery into a renewed economic recession.

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