How Bad Is It?
Government’s Theft Forcing Violent End
"With gold and silver on the move along with stocks, today King World News interviewed legendary James Dines, author of The Dines Letter. Over five years ago James Dines said to me in an interview that before this cycle ends all fiat currencies would go to worthlessness. This was an amazing call on his part because within months of that interview we began to see competitive currency devaluations erupt. When asked about the collapsing purchasing power of currencies, Dines stated, “It started with Japan. They pushed the Yen down against the US dollar so they could compete more aggressively. I said this would be a game of competing currency devaluations because other countries say if we make our currency less valuable that means we can sell more stuff overseas.”
James Dines continues:
“So other countries began doing it and finally America began doing it. President Nixon let the dollar float, the dollar plunged and suddenly America became competitive. The whole world is doing it now. What I previously labeled the currency devaluations is now in its final stages.
Everybody has interest rates as low as they can. Japan has been buying up a lot of dollars and if the dollar crashes they are in really big trouble. So it’s a mess.
Currencies are the lifeblood of the system. If the currency is corrupt then everything that currency touches is also corrupt. That’s what’s really bothering the world and this is why you are getting all of these riots in different places. It’s all part of the same phenomenon, it’s the currency. They don’t get that it’s one organic whole, one organic expression of the currency being embezzled by printing too much money.
One of the functions of money is storing value in it. Once you save money you have capital and that capital must be represented honestly. If they print ten percent more money overnight, they have literally stolen ten percent of your capital. It’s that stealing in the currencies that is eviscerating the world right now.
Twenty years ago in America, one bread winner could support a family. “Now it takes two or more and they still can’t do it. That’s because the money, the governments are stealing it. This cannot end well.
All of these paper currencies have no intrinsic value and they are only as good as the government says they are. The currencies are like a bunch of staggering drunks, arm-linked and when one falls it's going to drag down the whole bunch.
This happened in the 1920s in Germany. They ran out of gold and had to run the printing presses and wound up with a hyperinflation. That is one of the worst calamities to befall any country. We are at risk now of seeing that happen again. You need to figure out how to survive and how to protect yourself."
"With gold and silver on the move along with stocks, today King World News interviewed legendary James Dines, author of The Dines Letter. Over five years ago James Dines said to me in an interview that before this cycle ends all fiat currencies would go to worthlessness. This was an amazing call on his part because within months of that interview we began to see competitive currency devaluations erupt. When asked about the collapsing purchasing power of currencies, Dines stated, “It started with Japan. They pushed the Yen down against the US dollar so they could compete more aggressively. I said this would be a game of competing currency devaluations because other countries say if we make our currency less valuable that means we can sell more stuff overseas.”
James Dines continues:
“So other countries began doing it and finally America began doing it. President Nixon let the dollar float, the dollar plunged and suddenly America became competitive. The whole world is doing it now. What I previously labeled the currency devaluations is now in its final stages.
Everybody has interest rates as low as they can. Japan has been buying up a lot of dollars and if the dollar crashes they are in really big trouble. So it’s a mess.
Currencies are the lifeblood of the system. If the currency is corrupt then everything that currency touches is also corrupt. That’s what’s really bothering the world and this is why you are getting all of these riots in different places. It’s all part of the same phenomenon, it’s the currency. They don’t get that it’s one organic whole, one organic expression of the currency being embezzled by printing too much money.
One of the functions of money is storing value in it. Once you save money you have capital and that capital must be represented honestly. If they print ten percent more money overnight, they have literally stolen ten percent of your capital. It’s that stealing in the currencies that is eviscerating the world right now.
Twenty years ago in America, one bread winner could support a family. “Now it takes two or more and they still can’t do it. That’s because the money, the governments are stealing it. This cannot end well.
All of these paper currencies have no intrinsic value and they are only as good as the government says they are. The currencies are like a bunch of staggering drunks, arm-linked and when one falls it's going to drag down the whole bunch.
This happened in the 1920s in Germany. They ran out of gold and had to run the printing presses and wound up with a hyperinflation. That is one of the worst calamities to befall any country. We are at risk now of seeing that happen again. You need to figure out how to survive and how to protect yourself."
posted by nolocontendere at 2:42 PM
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