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It’s official now. The Fed said it in their meeting notes. And Bernanke said it again on Friday:
He’s going to run the money printing presses.
It’s the same trick we’ve seen in countries like Brazil, Argentina and Russia. It’s the age-old tactic of GUTTING THE CURRENCY — this time targeting the most important one on Earth, the U.S. dollar.
Larry Edelson has been warning about this for many moons. Our friend Franz Pick warned about it almost a half century ago. My father, J. Irving Weiss, issued his warnings about similar dangers even earlier.
How did they know? Because trashing paper currency is an insidious tactic that governments the world over have repeatedly used when skyrocketing deficits and debt threatened the collapse of their economies. It never works. It always ends in disaster.
And now …
I had hoped I’d never live to see this day. Now, here it is in aces and spades.
Our own Fed chairman has virtually sworn on a stack of bibles that he’s not only going to print paper money … he’s going to do it FAST!
Doesn’t he realize that every time a government plays these games, the majority of its people suffer? Doesn’t he know that our wealth is hopelessly eroded by the falling value of our currency? Doesn’t he remember the lessons of history?
Of course he does!
The real problem is he doesn’t seem to care. No matter how LOW the chances of these old tricks working … and no matter how HIGH the probability that they will backfire … Bernanke is determined to plow ahead ANYHOW!
Indeed, the fast track for Bernanke’s plan is no longer in dispute. And there’s no disputing how the markets are voting either:
- Despite some profit-taking on Friday, gold continues to trade well above the $1,350 level, keeping it poised for further new record highs.
- Select commodities are rising at an even faster clip.
- The dollar is sitting very near a fatal tipping point — its lowest level in history.
Good luck and God bless!
Martin
