That one really gets me. Do the folks in Washington really think that by pushing China's yuan up — and the dollar down — they're going to save the U.S. economy?
Unfortunately, that's exactly what they think. Because Washington's solution is to pay its debts with cheaper dollars.
I'm not the only one who has caught on to this scheme. Consider these other notable people and what they have to say ...
"It's the ... official policy of the central bank and the United States and to ... debase the currency."
— Jim Rogers, Co-Founder of the Quantum Fund
"The current crisis is ... it's basically the end ... of a 60-year period of continuing credit expansion based on the dollar as the reserve currency."
— George Soros, The world's #1 global investor
"Holding dollars today represents risk ... without ... reward!"
— Joseph Stiglitz, Nobel Prize-winning economist
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. Deficit spending is simply a scheme for the `hidden' confiscation of wealth."
— Alan Greenspan, Former Chairman of the Federal Reserve
Pay particular attention to this one ...
"By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens ... in a manner which not one man in a million can diagnose."
— John Maynard Keynes
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