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Jim Rickards: We’re Witnessing One of the Greatest Failed Experiments in Economic History

from ChrisMartensondotcom

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9 comments to Jim Rickards: We’re Witnessing One of the Greatest Failed Experiments in Economic History

  • mac

    “the currency race to debase” – ok, ask yourself, “debase against what”???

    please, anyone, provide an answer!

    Again: Debase against what! Anyone got the answer (I really doubt it).

    • NaySayer

      Well I would suggest the answer is real money. Gold/silver/copper. Bad money is like a game of old maid. Whoever gets to spend the new money first gets the most value in lower prices before that large batch of counterfeit gets added into the money system. The people who end up with it last lose the most.

      Whoever ends up with when most others have moved to something of intrinsic value like real commodity money in precious metals will lose everything they had saved in the paper.

    • mr620

      nice try mac, your psych job won’t work on me.

  • mac

    Rickards say the US “is trying to cheapen the dollar” I call bullshit! I think they r trying to suport it as a Reserve currency of the world.

    This guy is a flake.

    • NaySayer

      The u.s. is trying to keep the dollar the currency standard while also trying to do the opposite which is lower it in relation to other fiat currencies to stimulate trade.

      Whoever cheapens their fiat currency first makes their own products more attractive to buy, but since the u.s. doesn’t produce anything but bad pop culture entertainment I don’t know what they are trying to export, or maybe it is bad gmo farm produce.

    • mr620

      nice try mac, your psych job won’t work on me.

  • ariel

    ya, so why debase if exports-manufacturing isn’t the big deal in the US?

    Rickards is a troll, fast talking but ya gotta think about what he is saying…And the USD is the world’s greatest ponzi scheme in history…just think, push a frigg’n button and you can buy the world! Paper man, just out of the air.

  • The answer is simple – a debased currency will make repaying the debt that much more easier….. paying off the debt with worthless dollar – but they are all worthless… hence all nations are now debasing – it’s a race to the bottom…. Hence the currency WAR which we are currently in… a war without a single bullet being fired…all currencies are going down…. as the DXY loses even more Purchasing Power so do the other currencies look at currencies against the US dollar then are all falling in together…. This is what leads to hyperinflation folks!!

    All fiat paper will eventually end at it’s intrinsic value which is ZERO!!

  • Pull up any currency pair to the US dollar & one quickly see what I am talking about…. it all there in plan view….. Too boot we have the market at ALL-TIM-HIGHS with a economy barely alive…. GDP is 110% there about so we have inflated stocks because it take more dollars to purchase them…. the devalued DXY is in plain sight… PM should be responding to this inflation but until the paper games of leasing & swaps are taken care of the PM could continue to have trouble rising…. In the mean time large investors will be running out of over-valued stocks & buying up cheap commodities while the average retail investor rushes in the Equinity markets & be left holding bag while big or smart money as left the sector… the same is true for the PM sector…. big money will leave early or close to the top while your average Joe Six Pack rushes into PM as the investment of a decade LOL

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