The hosts of the Keiser Report Max Keiser and Stacy Herbert look at the Federal Reserve’s balance sheet as a “nappy for the toxic waste of the banker derivatives fraud” and how that diaper needs to be changed urgently.
Max says that “This is the passing of the baton from America to China which will become dominant in the 21st century.”
According to him, all fiat money, including the US dollar, will collapse, but of all the money collapsing the Chinese yuan will collapse the least. The Chinese middle class’ purchasing power will rise to keep up with the cost of commodities, wages will also go up “as this transition to China takes place.”
Meanwhile in the US, purchasing power will “fall dramatically, prices will go up sharply, social unrest will explode,” says Max. He points out that it all could be prevented “had the US Central Bank not bailed out Warren Buffet and the folks on Wall Street even once over the past 25 years, America would not be losing its empire and handing it over to China.”