Uncontrolled, US debt shoots past $17.00 trillion; Chinese redbacks soon to be the next world currency?

From News Max | October 20, 2013

                          

Uncontrolled, the US debt has risen past to $17 trillion, right after the compromise law was passed. US debt climbed by $328 billion on Thursday alone.  It stands at $17.084 trillion and steadily climbing every minute.

The US debt went up from $10.6 trillion since 2009 when Pres Obama took over.  The increase is 60%

Many are worried with this rapid increase in debt.

How could US treasury pay this?

Print more money from US Central Bank?  Is it legal?  Why the ruckus about the debt limit and next Federal Central Bank Chief?  Monetizing the debt will certainly devalue the dollar and lose its luster its international trading currency status.

News has it, and the Chinese student we have confirmed this, that the Chinese currency will soon be the international trade currency.  This is not far fetched to happen.

From Business Insider - Chinese RMB soon to be international currency reserve?)

From Forbes - Chinese currency stronger than US dollar

                               





                                                     
          

             



                                         

Prof Jorge Saguinsin

BIDDA:   BELIEVE, INSPIRE, DREAM, DO, ACHIEVE