http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/24_Former_US_Treasury_Official_-_Fed_Desperate_To_Stop_Collapse.html
" The Fed’s ability to print can have a
longer life than one might think. Recognizing the dollar’s
vulnerability from the printing press, Washington has convinced the
Japanese government to help protect the dollar by printing yen and is
lobbying the ECB to print more euros. To prevent sharp appreciation in
the franc, the Swiss have had to print francs in order to absorb inflows
of dollars and euros. Indeed, the Fed’s debasement of the dollar
forces other countries to print also in order to protect their export
markets. When so many countries print money, it takes the pressure off
the dollar. What it means is that so much money is being created that
the final blowout will result in a world inflation. Unless the Chinese
join the printing in order to protect their export markets, China will
be set to take over the reserve currency role. (Printing a currency
causes it to depreciate relative to other currencies. If all currencies
are printed, there is no relative change.)
In that event, what would
finance the federal budget deficit? Now desperate, authorities might
seize bank deposits, not in order to bail out bankers but to bail out
the federal government. After bank deposits are pillaged, the remaining
source of wealth to be plundered would be private pensions, or what is
left of them after rising domestic inflation and interest rates collapse
the bond, stock, and real estate markets."
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