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OldeDutch

Posted by Portugeezer @ 18:06 on August 6, 2014  

You could perhaps have added that the poster should re-read the meaning of VASSAL STATE.

If the US$ flow back in and the Chinese and Japanese (and Belgians – er – no!) will own the businesses and the folks you are talking about will be virtual slaves, working for the devalued US$.  The profits will be sent offshore and not taxed.

The main point about the Fiat US$ is that it must be accepted in trade, you can’t refuse it.

No other country has to accept the US$, so when demand falls, they will flood home.

Lots more dollars competing for a fixed supply of goods = hyperinflation.

When years of savings, or the pension fund you paid into for years, or the insurance policy you cash in pays for a hamburger, then how happy will you be that there are plenty of jobs (paying third world rates).

A debt jubilee will be partially paid for by a massive devaluation, stealing peoples savings.

JMHO yet again, RIch

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.