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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (20599)	5/27/2009 10:54:48 PM
From: axial	2 Recommendations Read Replies (1) \| Respond to of 71475

Appreciate the reference to history... it comes almost two years late, but what the heck, nice to see you catching up. "Talk about "moral hazard", while justified, ignores the fact that there are only two choices when these crises occur - collapse (which serves no useful purpose) - or spreading the pain. So in fact, there's only one choice. The likelihood that the currency (as opposed to guilty players) will pay the price increases with the size of the transgression. When other parties become too numerous or too big to fail - the currency itself will pay, and the outcome will be distributed fractionally on every man, woman and child: even the poorest. This isn't the first of such occurrences - historically there've been many: voxeu.org; Message 24665654 --- I'll say it again: we don't need economists to tell us what will happen. History will do the job. Jim