This is an extract from todays DR;
Curiouser still, the U.S. Fed has not merely brought about
an explosion in the number of dollars around the world; it
has also lit the fuse of other currencies all over the
world. The United States sells dollar debt. Foreign central
banks buy it by issuing currency of their own. The result?
A world flooded not only with dollars, but also with yen,
kroner, euros, and pounds. The broad money supply in
Australia is rising at a 9.7% annual rate. In Britain, the
pounds pile up at a 9.3% rate. Canada multiplies its
loonies at 9.1% per year. The Danes are expanding their
money supply at a breathtaking 10.7%. Euros are increasing
6% annually. And the dollar - the U.S. broad money supply
is only increasing at a fairly modest rate of 4.8%, a rate
that is still far above the increase in GDP.
Apart from printing twice as much money as the Yanks, we have a higher rate of personal debt.
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