Hi piers2210,
You can say that again about the Pound. I transfered some money from the UK to here in Brazil, and within a week during the process, the Pound went from 3.47 to 3.23 against the Brazilian Real. The Brazilian Real!
I firmly beleive that 1st World currencies are in for a rough time and some organized developing countries will, in the short term, suffer because of parity between currencies making exports more difficult, but bettering themselves as international markets shrink, national markets become the way to go and standards of living change.
The rate of illegal immigration in the US has gone rastically down, with even some immigrants going back to their countries of origin, because living standards are better, leaving the dishwashing jobs to those Americans who are presently unemployed.
Could it be that the Schiff will hit the fan? Probably.
Best regards,
Steve
Quote:
Originally Posted by piers2210
Yes, it was interesting when the subject in the Ron Paul interview got onto "inflation"...or shall we say "hyper-inflation", because with an increase in the US money supply of 70% since October (that statistic still blows my mind) you are talking of inflation far exceeding small percentage increases.
The interviewer asked Paul if he thought the USA might reach Weimar Republic wheelbarrows of money status, to which Paul replied that it wouldn't go that far, but they were talking about obvious significant inflationary pressure...how could there not be with such a massive increase in the money supply??
This affects all economies which are inextricably tied to the US economy ie the UK for one. And we in the UK already have a currency that is fast approaching banana republic status as a world currency. That means we cant import foods and products we need...because everything is too expensive.
Enjoy luxury products while you can!
|