Max Keiser - 'America will lose its sovereignty'

Lawmakers in DC continue to work towards a last minute solution to the debt ceiling crisis — or at least say they are — but to RT contributor Max Keiser, the outcome is already certain.

“The rating on US debt is definitely going to be downgraded,” the host of Keiser Report tells RT. “Rating agencies and other places around the world are flashing that they are going to be downgrading American debt, so that is baked into the cake.”

Keiser adds that, as the US dollar is crumbling, it is the “savers” — those invested in gold and silver — that will come out on time. In a game where the global bankers are the biggest players, Keiser predicts that the dollar will lose its status as the world reserve currency as the changes are made worldwide. Keiser echoes the words of new IMF Chairwoman Christine Lagarde and says that the “extraordinary privilege” the US dollar has had of being the global currency for so many decades is now at risk.

It’s the “9/11 Crybabies,” says Keiser, that are causing problems on Wall Street that are spreading internationally. “They refuse to complete in this world; they want interest rates to be near zero.” Keiser says that it is the Jamie Dimons and other Wall Street bigwigs that are causing the dollar to crumble. “They live on the teat of this subsidy that is given to them by the Federal Reserve and the Treasury,” he says. “They need to grow up.”

“Put on your big boy pants. Be an adult,” says Keiser.

With the future of the US dollar “baked into the cake” as he puts it, Keiser stressed that Americans need to accept the fact that the dollar is declining. He says that a “financially illiterate” president isn’t helping the economy be managed any better, and it won’t be long before America has lost its sovereignty.

It’s not over just yet though, says Keiser. As prices go up, he says we’ll see some “real action,” but notes that “nothing that anyone can do is going to stop this.”

“We have not seen yet the biggest fireworks of this global banking catastrophe,” says Keiser.