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Strategies & Market Trends : The coming US dollar crisis
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To: gregor_us who wrote (18511)3/12/2009 11:22:15 AM
From: Tommaso7 Recommendations  Read Replies (4) of 71475
 
I find that my grasp of money (as a concept) is somewhat like trying to conduct a seance with a ghost that keeps changing shape or vanishing.

Here's what seems inevitable to me:

1. There is nowhere near enough tax income to pay for everything the government is planning to spend.

2. Therefore, the government will have to borrow.

3. There are nowhere enough savings in the United States to borrow.

4. Therefore, the government will have to borrow from other countries.

5. Other countries will not lend as much money as is required by the spending authorizations.

6. Therefore, the Fed will have to buy a lot of bonds and notes.

7. Increases of the money supply will be at a rate not seen since the Continental Congress during the Revolutionary War.

8. The U. S. dollar will not lose value entirely, but may lose 50% against other currencies from its present level.

I understand politics even less than economics, so I do not venture to predict the consequences of all this.
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