Home > Best assets to buy, Predictions > Krugman demands freedom for all embezzlers

Krugman demands freedom for all embezzlers

To quote The Shill for the Shysters:

So Spain is in effect a prisoner of the euro, leaving it with no good options.

The good news about America is that we aren’t in that kind of trap: we still have our own currency, with all the flexibility that implies. By the way, so does Britain, whose deficits and debt are comparable to Spain’s, but which investors don’t see as a default risk.

The bad news about America is that a powerful political faction is trying to shackle the Federal Reserve, in effect removing the one big advantage we have over the suffering Spaniards. Republican attacks on the Fed — demands that it stop trying to promote economic recovery and focus instead on keeping the dollar strong and fighting the imaginary risks of inflation — amount to a demand that we voluntarily put ourselves in the Spanish prison.

Let’s hope that the Fed doesn’t listen. Things in America are bad, but they could be much worse. And if the hard-money faction gets its way, they will be.

So Krugman argues that further monetary debasement, further counterfeiting, the ratification of the Ponzi scheme, the ‘freeing’ of all embezzlers from responsibility for their evil actions, is somehow better than ‘imprisoning’ the populace with a fixed currency like gold.

Of course, we all would have been better off had the Ponzi scheme not been promoted in the first place, but letting Ponzi get away with it for a few more years won’t solve anything.

I don’t want to go down the same path as Spain or Ireland or the US (and the US is looking worse than Spain, economically, by the way –  even with the ‘wonderful’ QEing and inflating and insane bailouts).

I want what we had for 4,500 years – a metallic monetary standard that worked.


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