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| That's a good summary, John. As I've said before, there are examples of diluting the currency - the first one I remember was France in the early 60s when the New Franc replaced the Franc at 1:100. I don't know if we have done it so much on a world-wide basis, however, like we currently are. So far, we have not seen anything even close to hyper-inflation. Gold, on an adjusted basis, hasn't even come close to matching the high of 1980. But there are cracks showing up - here is a link to Puerto Rico teachers problems:
http://www.nzherald.co.nz/world/news/article.cfm?c_id=2&objectid=11...
At least some of this has to be laid to unintended consequences of zero interest rates. And, we can be pretty sure this is just the tip of the iceberg, as this will inevitably come here. In fact, I have been wondering for some time about all the unintended consequences that we might see pop up before this is over. One surely has to be the ever-widening gulf between the haves and the have-nots. I really do not like the trend there, as it looks to me like the middle class will all but disappear. | |
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Carter grain embargo
