November 20, 2007 (LPAC)—As of two weeks ago, the U.S. dollar and financial system has already exploded. Here are some of the flying pieces of the already exploded system.
Although a little late, the Chinese Prime Minister Wen Jiabao made a strong statement on the threatening outright collapse of the dollar on November 19, the latest and highest-ranking of a series of urgent statements from Chinese officials concerning the dollar's plunge. Wen said, "We have never before been experiencing such great stress" in maintaining stable currency relations. "We are worried about how to preserve the value of our reserves." Wen spoke in Singapore, according to the Financial Crimes.
As the Chinese Prime minister spoke, the U.S. currencies fall was aggravated by rumors circulated on Asian markets, of an alleged emergency meeting of the Federal Reserve. As of midday November 20, 2007 in Europe, the dollar today had lost almost 1% against the Euro, to an all-time low, 1% against the Canadian dollar, and 0.61% against the Swiss Franc.
As the world's leading economist Lyndon LaRouche has made clear in his November 7 statement, the system is not "coming" to a collapse--it's already here.