Sunday, January 8, 2012

Is the Dollar Dead? Bank of England says so.

I suspect deliberately lost is the hectic holiday activities was the release of the Bank of England's Report #13: Reform of the International Monetary and Financial System (An unlucky number for the superstitious). See also the Financial Stability Papers. Perhaps I'm to cynical, however I would translate that title and reports in to "you and I are about to be screwed".

One of the new objectives of the new system (pg. 4) is: "Internal balance - the IMFS should enable countries to use macroeconomic policies to achieve non-inflationary growth." The current Dollar system requires inflation to work, which I've tried to explain a couple of times in the past:

More background on the issue:

To sum those up 'They' want the World to return to a Gold Standard based system. Sounds good in theory, however the same people that are creating the financial mess already own most of the worlds gold. Some banks are known to have bought large quantities of gold. Makes you wonder why does it?

When the Dollar does finally die, the regime that is in power at the time will give you and I say, five to ten days to exchange a token amount of the current Dollars, say $5,000 to $10,000 for the new script. Any amount you have above that, well that is just to bad, the Plutocracy doesn't care...

So the next time you go to buy some components for your Embedded Widget and the prices seem a lot higher, you'll be one of the few that understand they haven't go up, but the value of your money has gone down.