That much is evident given the ongoing rally in the Federal Reserve Note dollar, despite its outlook being downright grim.

Nobody should be fooled by recent outperformance relative to the currencies of other insolvent nations.

The greenback is in the worst shape of its life.

Sound money advocates are already well versed as to why the dollar has been losing purchasing power ever since the Federal Reserve took control of its fortunes more than a century ago. They understand the implications of perpetually rising federal deficits and debt.

The most recent decade, during which federal borrowing has begun growing exponentially, indicates we are much closer to the end of the cycle – insolvency and default – than we are to the beginning. But it isn’t the only indication that we are approaching the end-game.

The Federal Reserve Note’s hegemony in the global oil trade is starting to fall apart. Russia, China, and other BRIC nations are cutting deals to buy and sell oil using other currencies.

We can now add the EU to the list of potential defectors.