Good morning from sunny, cool Maine. Keith seems to accept that the actions of the government(s) in these currency gambits are geared to the quality of life (buying power metric) of the general populace. I suspect that is not the case except by 'accident.' A small elite (not in the main speculators, who number in the hundreds of thousands) has for decades controlled the credit-money system in much of Europe, The UK, and the US (at least)
Money supply growth is piplined through the commercial (now investment also) banking system, with nearly free lunches of interest. When they screwed up, they have been bailed out by taxpayers (gen'l populace.) The smaller banks (hundreds this time) are let to go under, with managed 'takeovers' set up by the govt. Deposit insurance (industry funded) covers the bulk of the losses, but that fund has dwindled. One of the reasons gold has held up well after a 400% rise in a decade is, I think, that the really big boys realize the end game is in play. If the major currencies of the past century are being replaced by new ones, those holding credits in the old ones better diversify, and quickly. Gold is not serial numbered! It is universally valued. So it is part of that strategy. The governments are in the main looking to re-election and to pleasing their main contributors. (at least in the US) Those don't include the gen'l populace. (Joe and Mary lunchpail) Steve _______________________________________________ Futurework mailing list [email protected] https://lists.uwaterloo.ca/mailman/listinfo/futurework
