Thursday, September 27, 2007

Bush Lies, the Dollar Dies

"'The policy of this government is a strong-dollar policy.' President Bush has consistently stuck to this story throughout his White House tenure, which spans three Treasury Secretaries. ... We need a meaningful global currency", Judy Shelton in the WSJ, 27 September.

I remember Judy Shelton. She wrote The Coming Soviet Crash in 1989, before it happened. I didn't think the USSR would dissolve. Boy was I wrong. As to a global currency, mankind has had one for 5,000 years. It is the four-letter word: GOLD!

One should never listen to anything politicians say about money. I remember in 1967 when the British Pound was devalued, until the day before it happened, the Chancellor of the Exchequer denied it. After the fact he said he couldn't tell anyone lest he enrich the speculators. Remember, neither Bush nor Paulson's statements need be vetted by the SEC.

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