The US Federal Reserve's policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy, according to a top member of the Communist hierarchy. "He who goes borrowing, goes sorrowing," said Mr Cheng. It was a quote from US founding father Benjamin Franklin.
As chronicled by Russian engineer, Dmitry Orlov, as he observed the collapse of the former Soviet Union, the 5 Stages of Economic Collapse are:
- Stage 1- Financial Collapse
- Stage 2- Commercial Collapse
- Stage 3-Political Collapse
- Stage 4-Social Collapse
- Stage 5-Cultural Collapse
