Monday, March 23, 2009

After The Big Looting Spree

The dollar moves to Pesoville.

Why the End of America is Closer than You Think

"But the real story starts to unfold when you realize the Federal Reserve is now hell bent on multiplying the U.S. money supply by a whopping fifteen times in 2009! This excellent article explains how this number is derived: http://www.marketskeptics.com/2009/...
Now think about this: If the Federal Reserve increases the U.S. money supply by a factor of fifteen, that means your dollars will be worth only 1/15th the value they represent right now. So a loaf of bread that costs a dollar right now could cost $15 when all this extra money ripples through the system. (Which will obviously take a couple of years, but 2009 will be the beginning of it.)
This is called "hyperinflation." We're talking about a loss of over 93% of the purchasing power of the dollar. That, my friends, is called a collapse of the currency.
And once it starts, the floodgates will be opened and the tsunami of investors and nations offloading dollars will be catastrophic and irreversible. By the time it's all done, the dollar might end up losing 99.9% of its value, and you can use greenbacks to light a fire or wipe your back side, as they will be useless for anything else."
Cost of the War in Iraq
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