ANTIESTABLISHMENTARIAN

Finance, Fuel Prices, Economics, Markets

Pick Pockets

LONDON, WSJ — This could end up being viewed as the week when dollar weakness became too much for the rest of the world to bear, setting the scene for tense encounters at the upcoming meeting of finance ministers from the world’s 20 largest economies.

So what does one do to make the  dollar rise in value? Well, one way is to remove a lot of them from circulation right at a time when “they” are trying to stimulate the economy. So raise interest rates and watch the dollar soar . . . and also watch the economy collapse, and with it US imports from those nations that are complaining so loud. So they want the US to go into a double-down depression and take the rest of the world with it? Huh, is that what they want, because that’s what they’ll get.

Oddly enough this article never once mentions China which, after Japan, is most responsible for kiting the dollar for years to facilitate their export machine. But THEIR Ponzi scheme has collapsed and now they’re looking for a scapegoat. China has the power to stop the descent of the dollar simply be removing their currency’s peg to the dollar and letting the Wan rise. Oh, no, they’re not about to do that since that would tank what’s left of their export machine.

This is what happens when governments take control of economies. It always has a very bad ending and its always the little people’s pockets that get picked clean.

That article is about as monitarily illiterate as one can get. Just goes to show what Rupert Murdock can do when he puts his mind to something. I canceled my WSJ subscription months ago. No point in paying for propaganda mixed with stupidity.

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October 22, 2009 - Posted by | Daily Brief

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