Month: February 2010

So, given that the USA Federal Reserve currency, the US dollar, is going down the tubes, something else will replace it. There will undoubtedly be attempts by various governments to reinstate some version of fiat money, but people are going to see through that, and will not accept it, since fiat money is, at it’s core, an undeclared, and essentially unlimited, tax on those who produce. Ultimately, people will probably return to a means of exchange with more than 4,000 years of history;  Gold and silver.  Here in the USA, in the aftermath of the coming economic collapse, there will …

Reader K.T. wrote me: You won’t believe the sweetheart deal that the Indymac boys were given by the FDIC. Reader JDD sent us this: Economist: China will soon revalue the yuan; Nation must slow economy down, deal with inflation threat, analyst says. Also from JDD come this alarming Zero Hedge article link: Move Over China: Beijing Sells Whopping $34.2 Billion Treasuries In December As Japan Becomes Largest Official Holder of US Debt Items from The Economatrix: Stocks Gain on Earnings, Deals, and Hope For Greece Foreigners Cut Treasury Stakes; Rates Could Rise Gasoline Price Hits New Low for 2010 Are …

Russ D. spotted this: China: the world’s next great economic crash; Like Dubai at the beginning of last year, China is now reaching the peak of a bubble. From Jonathan C.: Euro Area Headed for Breakup, SocGen’s Edwards Says Steven H. suggested this iStockAnalyst article: Forget Greece, The US Almost Had a Failed Treasury Auction Reader Sue C. forwarded this: Strong dollar hurts exports Survivalblog’s George Gordon notes that even Esquire magazine is trumpeting: “Inflation is coming, buy gold!” Items from The Economatrix: Economic Warnings from an Elderly Third Grader (The Mogambo Guru) The Day The Dollar Died (Part 17): …