Currency Wars

I saw a dramatic vision of two dollar signs in a circle. It began to spin wildly out of control, overlaid over it was a circle with a two Euros signs, which was spinning out of control and they were overlaid over the planet earth. I was looking down at it from above the north pole and earth was gyrating incoherently, spinning clockwise instead of anti-clockwise.

The governments don’t know how to fix the debts, other than print money out of thin air, trillions-upon-trillions, much of it is printed in secret by the Federal Reserve. The Irish government wanted a celebration as they say the crisis is over, but it was pulled at the last minute as too embarrassing, as Irish people are hurting.

The Irish owe €840 billion (€200,000 approx.’ for every man women and child), and they have reduced the annual deficit by a few billion, but they haven’t paid off one cent. They are just overspending in a bit less this year.

A two bedroom cottage in the country on a nice lot with trees, was offered the other day at €7,000. A 55 bedroom hotel on the beach in Donegal that was originally listed at €4.5 million, sold for €666.000, and a luxury apartment house in downtown Dublin on the river Liffey that was €4 million is now on offer at €575,000, which is 86% off.

People’s life’s saving have been wiped out. Money printing is a disaster, good for Wall Street, and the bent banks, terrible for ordinary people. The value of the dollar has collapsed over the last decade and the euro will go with it. The financial papers call it, the “race to the bottom”, as countries seeks to devalue their currencies to make their debts less expensive. It’s stealing from their creditors, but the politicians don’t care as long as their power base is not affected. They have no shame.

Save yourself. Buy gold, it’s cheap right now. Stuart Wilde

Stuart Wilde (www.stuartwilde.com)