Tuesday, May 3, 2011

Print, Baby, Print!

I read an article (video) yesterday that explained to me better than anyone has how deeply at risk is the American dollar. Until the 1940's, the British pound (Sterling) was the world's reserve currency.  After the Marshall Plan rolled out, the US Dollar became the world's reserve currency.

What does it mean to have our currency be the world's reserve currency?  It means that other countries have to buy foreign goods with dollars.  If Belgium wants to buy oil, it has to pay for it with dollars.  It buys dollars first, and then it uses the dollars to buy the oil.  So, what is the relevance of this?

Well, the U.S. can print dollars to its heart's content.  The other countries cannot.  Twice in the last few months, Ben Bernanke fired up the presses and (virtual-)printed hundreds of billions of dollars (QE1 and QE2).  When the U.S. has trouble paying the interest on its debts, Bernanke magics up new dollars to cover it (abracadabra).  Other countries are powerless because they cannot do that.  Problem is - other countries will only sit by and watch us playing this game for just so long before they figure out that the massive inflation of our money supply causes the value of the dollar to shrink.  Several large nations met recently (without us) to explore using a different currency for international transactions.  China recently significantly reduced its holdings of US dollars.

Other countries have tried to "over"-print their currency to avoid financial ruin in the past.  In 1975, Britain devalued the pound by 14% overnight.  Rather than solving problems, this brought the British economy to a standstill, and triggered a string of national wage strikes.  Yugoslavia printed itself out of existence in 1993.

If the day comes soon that the US dollar ceases to be the world's reserve currency, all of the goods we buy from overseas - oil, automobiles, food, precious metals, electronics, etc., will be calling for fair value in payment.  If our dollar has lost significant value because of over-printing, then more dollars will be demanded in payment for those same goods.  Everything will suddenly double or triple in price.  Every American will be impoverished overnight (except for those few who own precious metals).

Ask yourself - is this happening through sheer oblivion and stupid incompetence?  Is America's imminent financial ruin the result of clumsy bumbling?  --- OR --- Was it choreographed?

The globalist elite have plundered the world's silver and gold (giving us worthless paper notes in exchange).  They can print paper (or digital ledger entry) dollars, at will, to control the liquid money supply (to create booms and busts).  They have a deliberate, finely-crafted plan to change the political structure of the whole world.  They envision a (much) smaller population, one which will serve them like slaves.  The financial crash and attendant wars are a scripted part of a planned global transition.  The (Gadianton) 'One-Worlders' have flexed so much unfettered muscle for so many centuries, that they are truly confident that their plan will succeed.  After all, they already own every part of this earth.  What they forget is that the Creator of this world (Michael) is its real owner, and He has a different plan for the coming transition.  I sometimes wonder just how ripe in iniquity this world has to get before our Father will kick in His (TERRIBLE) "marvelous work and a wonder".  Evidently, He will let many or all of the prophecies of Jesus, John the Revelator, Ezekiel, Daniel, Isaiah, Joseph Smith and others come to fulfillment.  Why?

Apparently, it is in the crucible of crisis and adversity that God's people can be humbled and tested.  Also, when faced with awful trials or choices, their character can be measured, and the judgment/reward process can be effectuated.  So, Bernanke, print away!  Just remember that Greenbacks are non-nutritive.

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