At 15:52 12/04/2013, you wrote:
Krugman
But the runaway inflation that was supposed to follow reckless
money-printing inflation that the usual suspects have been declaring
imminent for four years and more keeps not happening.
Me
Stay tuned.
No, that sort of Weimar-type, runaway inflation only occurs when one
currency is inflating against a backdrop of all others it may be trading
with. In our case ever since 1971, the dollar leads the inflation front but
all the other important trading currencies follow fairly closely behind.
Japan;'s massive money printing from 1990 - 1910 got trapped by the banks
in order to pay off the value of the property value collapse in Tokyo and
the major cities. They didin't do any austerity, however, and their
national now stands at 200% of GNP. It means that they'll never be able to
pay it , so they might as well try QE to get its population wanting more
goods, jobs, able to pay more taxes.
America's QE has also been used by the banks to cover their black
holes.More recently, to cover new hardships when their loans in Greek banks
went into default. The US (and the UK for that matter) are now very close
to being beyond the point of no return (as regards ability to pay enough
interest).
Keith
From: [email protected]
[mailto:[email protected]] On Behalf Of Ray Harrell
Sent: Friday, April 12, 2013 1:36 AM
To: 'Keith Hudson'; 'RE-DESIGNING WORK, INCOME DISTRIBUTION, EDUCATION'
Subject: Re: [Futurework] Gelt
<http://www.nytimes.com/2013/04/12/opinion/krugman-lust-for-gold.html?hp>http://www.nytimes.com/2013/04/12/opinion/krugman-lust-for-gold.html?hp
REH
From: Keith Hudson
[<mailto:[email protected]>mailto:[email protected]]
Sent: Thursday, April 11, 2013 11:27 AM
To: RE-DESIGNING WORK, INCOME DISTRIBUTION, EDUCATION; Ray Harrell
Subject: Re: [Futurework] Gelt
The NYT article is all very glib and I'm sure a lot of readers will be
encouraged to sell their personal gold. If there was any clear logic in
the article it's to be found at the end with what Peter Schiff says.
Keith
At 14:29 11/04/2013, you wrote:
According to the Science Channel, the Ancient Astronauts no longer need
gold to run their space ships.
REH
<http://www.nytimes.com/2013/04/11/business/gold-long-a-secure-investment-loses-its-luster.html?hp>http://www.nytimes.com/2013/04/11/business/gold-long-a-secure-investment-loses-its-luster.html?hp
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