The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: benwood who wrote (37644)	4/26/2011 1:55:25 PM
From: Tommaso	5 Recommendations Read Replies (1) of 71475

Does anyone know of a closely comparable situation to what the U.S. has got itself into? I already made a comparison with France in about 1715. What Louis XIV had done to France then was far worse that what George W. Bush did, though we have to allow that GWB had only eight years whereas Louis controlled France for 54 years. And Louis XIV can largely be credited with encouraging the emergence of French culture as the standard for all Europe, especially in the arts but also in the sciences, whereas GWB can be credited for raising general presumptuous ignorance to a level never before seen in this country. Anyway, the situation in France in 1715 was of a country with a government hugely in debt from numerous wars of the previous 50 years. John Law's Mississippi scheme was largely an attempt to liquidate the debt by flooding the country with paper money. Does this sound familiar? It's hard to compare contemporary United States with any South American country because none of them have ever exercised international influence like the France of the seventeenth century.

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