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A New World War of Currencies?

Nobel economics laureate Joseph Stiglitz on U.S. economic policy -

“It’s doing nothing for the American economy, but it’s causing chaos over the rest of the world. It’s a very strange policy that they are pursuing.”

Ed. note: A fascinating account of the way it just might be, behind all the pomp and propaganda.  One might liken the leading nations and their currencies to dying elephants thrashing about, struggling for ‘sustenance.’


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From: Breaking All The Rules / Sartre -

Currency Wars among Controlled Economies

The rush to devalue national currencies is like cutting off your foot so your favorite transnational corporation can sell you an overpriced prosthesis, made in their overseas sweatshop, to an HMO that Medicare will cover. Soon with Obamacare, only Medicaid recipients will qualify. The way to look at devaluing your countries currency is that it takes more worthless fiat species to buy the same amount of products. How laudable is this economic policy?

NationMaster.com reports that in 2006 the United States exports as a percentage of GDP, $0.08 per every $1. That ranks 179 among the Globalist’s community of nation. Back in 2006, the Dollar was still viewed as a relatively stable reserve currency. After the 2008-manufactured financial collapse, the dollar rose briefly on foreign currency exchanges. Today you only hear that infamous giant sucking sound that presidential candidate Ross Perot warned about back in 1992. That thud you hear is our national wealth flushing down the drain of the international sewage-treatment system.

As a beleaguered tool of mega economic control, the consumer has only one purpose, buy more junk. Paying for the garbage translates into incurring higher personal debt levels. That formula maintained its momentum when the Federal Reserve notes were the coin of the worldwide realm, but no longer. Countries can no longer service their own government debt and the prospects of extorting even higher taxes to pay the banksters for their debt created currency racket is hitting a brick wall.

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