Yes, Wolfie is well qualified, experienced, and knows the game intimately.
I always thought these organizations, World Bank, IMF, and a host of others were benign, friendly and operated out of a strong sense of wanting to do good. Just didn't realize who it was good for! <g>
I have been trying to make sense of the Asian lending to America, and have come to the theory that a deal to ultimately defend the dollar has probably been made. Defense of the dollar of course would be accomplished by raising interest rates. If so, this supports Faber's contention, but for another reason. And it also fits nicely with your constant theme of debt forever without limit. The US FED can raise interest rates, all the while printing more money to flog to foreigners. The debt will increase, but so what? Trade deficits will continue, but so what? And everybody will be content, and the bullshitters will do what they have always done.
Come to think of it, that is exactly what has been going on! You can't improve on a perfect system. |
