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Meet Uncle Sam – without clothes – Parading around China and the world

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Chapter Summary

Uncle Sam is the world’s most privileged for having the exclusive right to print the world’s reserve currency at will at a cost of nothing but the paper and ink it is printed on. Additionally, his is also the only “foreign” debt that is mostly denominated in his own currency. Uncle Sam simply pays the Chinese and others essentially with those dollars that have no real worth beyond its paper and ink. Why any and all this?, we may well ask. The simple answer is that Uncle Sam, who is increasingly hooked on consumption, not to mention harder drugs, saves no more than 0.2 percent of his own income. In addition, Uncle Sam also obliges the Third World states to act as collection agencies or even as Repo Goons. Last but not least, oil producers also put their savings in Uncle Sam.

Keywords: Chinese; drugs; foreign debt; oil producers; Third World states; Uncle Sam; world’s reserve currency



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