Only a desperate government would consider debasing its own currency. The resulting inflation will be an insidious tax on every American who will suffer as wages lag behind increasing prices. It is doubtful countries like China will react favorably to the precipitous drop in the value of the debt owed to them.
"As long as the world exercises no restraint in issuing global currencies such as the dollar -- and this is not easy -- then the occurrence of another crisis is inevitable, as quite a few wise Westerners lament..."
The price of gold leapt at the start of US trading on Thursday, coming within 0.5% of last month's record highs – and gaining $50 per ounce inside 21 hours – as the US Dollar fell in response to the Federal Reserve's re-launched quantitative easing program.
The best way to understand the future of America under socialist/communist rule is to look at fellow communist nations like North Korea. If you don't think it could happen here, you are sadly mistaken. As soon as total power is handed over to the federal government in the form of nationalized healthcare they will...