Another interesting article on the terrifying realization that the debasement of the dollar appears to be part of a deliberate administration plan. The dollar bills that we all carry around in our wallets have absolutely no intrinsic value. No paper money has intrinsic value now that none of them are backed by gold. Currencies only have value if people BELIEVE that they represent value, that others will accept it as a form of payment, that the promise of repayment is one that will be honored. Other nations, many of whom are our creditors, are starting to question whether or not dollars will have any value in the future, given the massive deficits that will require trillions in new borrowing to fund. What happens if we reach an inflection point where nobody believes that our currency has any value? What are the ramifications of global investors deciding that US Treasuries are too risky given the default risk of a $9 trillion deficit over the next 10 years?
http://directorblue.blogspot.com/2009/10/third-world-country-world-economic.html
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