Professional Soldiers ® - The War That Will Kill The Dollar

Professional Soldiers ® (http://www.professionalsoldiers.com/forums/index.php)

- General Discussions (http://www.professionalsoldiers.com/forums/forumdisplay.php?f=46)

- - The War That Will Kill The Dollar (http://www.professionalsoldiers.com/forums/showthread.php?t=37501)

The War That Will Kill The Dollar

An interesting perspective on the future of the dollar. Read or discard IAW your own interests.

And so it goes...

Richard :munchin

The War That Will Kill The Dollar
Richard Marbury, 13 Apr 2012

As the wars in Iraq and Afghanistan wind down, Secretary of State Hillary Clinton meddles in the war in Syria, while Obama rattles his sabre at Iran, and the Pentagon openly deploys troops and warships to the far Pacific into China’s backyard.

In my October 1, 2011 speech in Phoenix, I pointed out that Washington was “shopping for new wars to get into,” and forecasted that these wars would “kill the dollar.”

Speech is here: http://www.earlywarningreport.com/warkilldollar.html

Thanks Richard. Interesting take on the current affairs of state.

A good read.

The cry for a more limited government echoes through the ages...

"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People again must learn to work, instead of living on public assistance." ~ Cicero 55 BC

Big government is the problem not the solution.

What'll kill the dollar is another "stimulus" and forced healthcare.

Quote:

Originally Posted by Broadsword2004 (Post 444229)

One thing I don't get is where he says:

Today, politicians go on TV and boast about debasing the currency. They call it QE, quantitative easing. Their minds are so warped by their power that they even publish the statistics on how many dollars they’re creating, because they’re proud of it!

Politicians don't do quantitative easing, the Federal Reserve does, which, at least on paper, operates independent of the whims of politics. The Fed has been engaging in quantitative easing as of late to counter the massive deflation the economy was hit with because of the recession. Yes, inflation is a danger, but severe deflation is a major danger for the economy as well. And the Federal Reserve exists precisely because of this whole power issue, because otherwise you'd have Congress directly controlling the money supply. Very BAD idea to have the body of government that controls spending also in control of the money supply (plus you'd have people elected based on popularity as opposed to economic acumen controlling the money supply).

As for printing money to pay for something like a war, I do not think the government would do that. They aren't going to just wreck the nation financially over unnecessary wars. Also, hyperinflation can lead to radicalism. Germany underwent hyperinflation because of the impossible demands placed upon it after World War I, and John Maynard Keynes (the economist) at the time was smart enough to forsee that this was going to lead to radical politics likely taking over Germany, and likely a second world war. But no one wanted to hear it then. IMO, what will wreck the dollar is if we do not find a way to reform Medicare (where it is made financially sound without hurting any of the current people on it), and if the government doesn't overall learn to control spending. Also, we need to get the economy growing again.

The Democrats have the perfect set up though: when the economy's in the tank, they want to spend money to "stimulate" it. And when the economy's doing great, they say it is ridiculous to focus on controlling or even reducing spending, and that only evil-meanie conservatives who want to let the poor and the elderly suffer are for such a thing.

Besides the basics like 201 and 202, money and banking helps. Micro and macro theory are important. Macro used to be natiional income accounting.

Great read, I would debate him about the central bank, but no doubt it's over reaching political power that's hurting us.

Critical Thinking

Richard, thank you for posting that article. A few years ago I asked the question here if anyone thought martial law was a possibility. Its been an active thread and echoes what others have been discussing. However, its nothing compared to this article, by David Galland, which right after the introduction, should be your final wake up call.

http://www.caseyresearch.com/cdd/thinking-critically

Quote:

Originally Posted by Broadsword2004 (Post 444229)

Also, hyperinflation can lead to radicalism. Germany underwent hyperinflation because of the impossible demands placed upon it after World War I, and John Maynard Keynes (the economist) at the time was smart enough to forsee that this was going to lead to radical politics likely taking over Germany, and likely a second world war. But no one wanted to hear it then.

BS2004--

IMO, your understanding of modern European history continues to be compromised by your desire to find a single cause that can explain intricately complex events. Your habit of privileging the judgements of economists without doing your due diligence is also problematic.

In regards to Germany and the origins of the Second World War, if you're not patient enough to do more reading, you might profit from finding a copy of the transcript of Richard J. Evans's lecture, "Hitler and the Origins of the War" that he gave at Gresham College in 2008.

In regards to Keynes's views on German reparations, you might find a paper by Kepa Ormazabal on the debate between Keynes and Bertil Ohlin in 1929 useful.

My $0.02.