lsayre wrote: franco b wrote:
lsayre wrote:Can and will the USA continue to fabricate endless legal tender currency from thin air?
Yes they will as long as adding zeros is so easy until they run out of zeros. What other way can the monstrous debt be handled that is politically possible?
Margaret Thatcher figured out that the trouble with socialism is that eventually you run out of other peoples money, but she would never have imagined a world that tolerates one of its member nations fabricating currency endlessly from thin air, and then forcing all other nations to accept it at face value as if it honestly represents real wealth. Only our military might, the petrodollar, international subversion, bribery, and the outright overthrow of governments can keep our charade going. Every other nation on earth that has taken our route of phoney currency expansion has had its currency and economy collapse to nothingness. None of them have had our military clout. We must and will kill and subvert and overthrow nations to sustain the dollar (and the petrodollar) until the music inevitably stops. The only questions remaining are: When and how will the music stop?
Aren't you overlooking the fact that the rest of the nations are doing it too? Things stay relative as the worlds ship sinks.
A thought from Bill Bonner:
So, opponents say the feds “failed.”
But they miss the point. All political activity is aimed at: (1) gaining power, (2) holding onto power and (3) using power to transfer wealth, status and more power to the insiders.
It doesn’t matter whether you call it “job creation” or “foreign aid.” The real purpose is always the same – even when many of the insiders themselves don’t realize it.
Bitcoin represents a threat to the feds’ ability to rip people off by manipulating the value of the currency.
This “exorbitant privilege,” as de Gaulle called it, is worth trillions of dollars. It is essential to many other policies and pretensions – including managing interest rates, controlling the money supply, and controlling inflation. (The feds’ massaging of the CPI allows them to manipulate their costs – Social Security, debt service costs and so forth – as well as the value of money itself.)
Think they’re going to give that up to a bunch of internet geeks? Not a chance!
Have the feds failed?
Nope… They have been the most successful group on the planet.