So the Chinese are also looking to other currencies to back the Yuan, as stated in a CNBC article today. What does this mean for America? Well, as countries like China and India continue to pull away from the dollar, and in some cases simply dump dollars in exchange for gold, the U.S. is going to see one of two things happen.

1) Massive price inflation as a result of billions of excess dollars on the market.

2) A massive rise in interest rates as the Federal Reserve tries to curb runaway inflation.

Neither scenario is good for the average person. This further shows the need to elect Libertarians to office. Libertarians believe that fiscal irresponsibility, massive government spending and entitlement programs essentially amount to economic slavery. You cannot create as much debt as we have without enslaving our children, grandchildren and great-grandchildren to our debt holders. In our case, the debt-holders are China and the Middle East oil nations. Doesn't it feel nice to know that your children will be taken care of by Communists and Religious Extremists?