How long until we see this in the US? The Fed is already devaluing the currency through the backdoor, now we just need the .Gov to order all businesses to freeze prices or face seizure. The Free market …an endangered species…
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This has already happened here during my lifetime… Richard Nixon imposed wage and price controls to fight inflation…
Since the US no longer has a fixed exchange rate (also an action of Nixon), we don’t have official changes to exchange rates any more…. the dollar has actually been gaining some value in the past few weeks, which is probably more an indication of just how screwed up the rest of the world is.
John Batchelor spent a fair amount of time last night talking about Iceland refusing to pay its debts and how that may fracture the E.U. between the small and large countries – and how the actions of the banks suggest a second banking crisis is going to hit Europe soon
As soon as I post this people will think I am a crackpot but…….. Can you say “Amero?” Waht better way to get peolpe to accept a NEW currency tha to plunge the country into financial crisis and devalue the dollar?
Just a thought, for what it’s worth :)
Oh, you’re falling behind the curve… the new global currency will be the CO2 offset credits
Don’t forget that it’s been done twice – FDR and Nixon…Roosevelt used to pull the price of gold out of a hat every morning over breakfast. Look for a created “emergency” to pull it off again since gold is out of the money equation. Blsumner may have the answer with a new currency.