Skip to comments.An Empire Built of Paper (Paleo Barf Alert)
Posted on 03/26/2006 5:09:28 PM PST by peyton randolph
The president moves about like Caesar Augustus, with a vast, graded court of civil and military aides, doctors, secretaries, valets, hairdressers, makeup artists, bodyguards, drivers, baggage handlers, cooks, food tasters, Praetorian guards, snipers, centurions, bulletproof limos, a portable hospital, and an armored rostrum. And thats when he travels in the U.S.
After all, the long-term mean value of paper currency is zero. Is the dollar magic, so that it is permanently immune from the norm? For the last 100 years, it has lost value more quickly than the Roman denarius after Nero.
(Excerpt) Read more at amconmag.com ...
This is hardly being a Moonbat. This is very serious stuff. Think about it - dollar bills have virtually no intristic value. If no one will accept it, it has virtually no value. And why should anyone accept it anyway? Once the US is no longer a world power, the dollar will crumble.
Portions of the article are lucid, then it degenerates into moonbat mode before acending back into reason, then dips back into battiness again.
The value of the dollar is based on the total output of the US economy. That is not nothing, nor is it as much as it might be. Other countries have problems too. Relatively, we're holding our own.
I've been familiar with William Bonner's writing since the days of "Strategic Investment" in the Eighties, when he and James Dale Davidson were working together. (Read Davidson's The Great Reckoning and The Sovereign Individual if you're looking for penetrating insights into our economic future.) Bonner correctly foresaw the collapse of the Soviet Union when people like Kissinger were saying that it was stable enough to last another two centuries. I'm going to have to read his book.
The same Buchanan who said last year that World War II wasn't worth fighting.
American isolationism went the way of the dinosaur with World War II. Isolation is no longer possible. Unless you want to model ourselves after North Korea...
Thanks for posting this. I enjoyed reading it, and I don't feel the least bit nauseous.
Sorry, but what you've just said is meaningless. There is no connection between the Dollar and the U.S. economy. The U.S. Government can create as many Dollars as it pleases. No limit on this Dollar-creation is imposed by "the U.S. economy." It is when there is the proper POLITICAL motive that the U.S. Government WILL make the Dollar worthless. There is no economic force that can or will prevent that hyperinflation, when the POLITICAL motive to hyperinflate exists.
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