The Euro has gained 7.7% against the US dollar since February. The weighted Dollar Index (vs. the Euro, Yen, Pound, C$, Swiss Franc and Swedish Krona) posted its biggest 1-day drop since 1971 on 3/18 after Ben Bernanke's announcement. [For quantitative easing read: a flood of dollars]
Some have called this the end of Rome-on-the-Potomac...the start of the debasement of the World's Reserve Currency.
Winston Churchill in Nov 1942 said it best, and might well have said this about the US Dollar today:
"Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning."
Tuesday, 24 March 2009
This is not...........from Rico
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Quotations from Vladimir Ilich Lenin:
"The best way to destroy the capitalist system is to debauch the currency."
"The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation."
“Deepen, exacerbate existing problems, crises, differences, and if they don’t exist, create them or convincingly claim that they exist, and then deepen, exacerbate them...and profit the most from them in any way you can, and, in the resulting chaos, blame our enemies for the whole thing.”
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