Sunday, February 9, 2014

Intl concern about the rate at which the Fed is creating dollars...

Excellent interview with Dr. Paul Craig Roberts (former Assistant Secretary of the Treasury) on the international currency crisis:

Intl concern about the rate at which the Fed is creating dollars...

"If we save the banks, it will knock the dollar off its role as the international reserve currency... one or the other has to go - either the banks or the dollar - if you are going to support the banks indefinitely, then the dollar is going to go... if you are going to save the dollar you've got to let the banks go.

That's the big decision that awaits the Fed. That decision will have a big effect on the price of gold - if the Fed says we are going to save the dollar and let the banks go, then that will be bad for gold. If they say we are going to let the dollar go and save the banks, that will be good for gold...

They may have to make this decision by June of this year.

The biggest financial danger we face is the collapse of the dollar as the world reserve currency. This would bring a far greater crisis than the collapse of three or four big banks."



We can thank Obama for this mess - Quantitative Easing (QE) has been a complete failure - the problem is excessive government spending and massive corruption in Washington D.C.


Obama has not only destroyed the economy - he has destroyed the dollar.

1 comment:

Dan said...

Maybe it's time for companies and individuals provide Credit on paper through a contract that is NOT Federal Reserve Notes.
$10,000 on Credit will be issued unless more is needed, as long as the credit can be paid back by other means, including transferring Credit with others.
But could one company issue $90,000 on Credit to others if they have 10 people that have signed to pay $10,000 like banks do, without having the assets?
That is where the Banks and Mega corporations are stopping children's bake sales as they are losing out of the control.
Children are NOT paying the Income Tax or the permits, but would a paper contract between you and a company without the transfer of Federal Reserve Notes be Taxable?