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Rogers believes that the last 50 years is U.S. government's journey into a huge debt and the U.S. government's decision-makers are still repeating this mistake.
legendary investor Jim Rogers has warned for many years, like Peter Schiff and Marc Faber, that the United States economy is in total decline and that Asia is the land to put your money.
Dollar May be Doomed, Regardless of Geithner
Replacing the World’s Reserve Currency
Ahead of the G20 Summit in April, Zhou Xiaochuan, Governor of the People’s Bank of China, released an essay titled “Reform of the International Monetary System.”
Without specifically mentioning to the U.S. dollar, Zhou asked this basic question: What kind of international reserve currency does the world need in order to secure global financial stability and facilitate economic growth.
According to Zhou, the dollar’s unique status as the world’s primary reserve currency has resulted in increasingly frequent financial crises ever since the collapse of the Bretton Woods system in 1971.
“The price is becoming increasingly higher, not only for the users, but also for the issuers of the reserve currencies,” Zhou said. “Although crisis may not necessarily be an intended result of the issuing authorities, it is an inevitable outcome of the institutional flaws.” FULL STORY
The Misinformed Masses
What luck for rulers that men do not think.
Adolf Hitler
German Nazi dictator, orator, & politician
I was over researching stories on an Economics Blog and the subject of Glass-Steagal came up. I commented something like yes it is too bad bj bill [Clinton] let that go.
The Glass-Steagall Act of 1933 established the Federal Deposit Insurance Corporation (FDIC) in the United States and included banking reforms, some of which were designed to control speculation.[1] Some provisions such asRegulation Q, which allowed the Federal Reserve to regulate interest rates in savings accounts, were repealed by the Depository Institutions Deregulation and Monetary Control Act of 1980. Provisions that prohibit a bank holding company from owning other financial companies were repealed on November 12, 1999, by the Gramm-Leach-Bliley Act.[2][3]
Wow did that draw the Ire of the crowd. Mind you not the fact that I call him bj bill (they seem to consider that a badge of honor) but the fact that I pointed out he was the one responsible so with no thought as to the facts they let me have it. Yes of course I have been wrong from time to time and when I am I apologize and when I am not I back it up with facts. Seems that makes them even madder yikes I think if they could find a way to kill me through the computer sometimes they would!
I take it with a Grain of Salt because I realize that most mainstream Economics blogs are of the Keynesian Principles of Economics. I get around (no if that is your ASSumption thats in your mind) I mean online. I am not one of those people who only reads what I want to hear. While I may not agree with an article in its entirety I at least take with me the facts. It seems to me that people who only read what they want to hear or follow tightly with a political parties rhetoric end up being misinformed. FULL STORY
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