While there is a lot of good information there are some flaws in the argument. The Federal Reserve is “forced” to print money because of the size of the Federal Government and out of control spending. It is the job of the Federal Reserve to promote economic stability. As long as the Chinese buy Treasury Bonds and the democrats obstruct economic reform than we will continue on our course until things change.
The author correctly points out the instability of Europe and China. When the Eurozone and China (relatively speaking) crashes our current levels of spending will be unsustainable. It will force a sharp reduction in the size and scope of government and social entitlement programs will have to end. Prices will plummet across the board. At this stage having the Federal Reserve will be vital in preventing a complete collapse.
The good news is America is better positioned to recover than any other nation. We will still be rich in rare materials and resources. We have (for the most part) an educated population and a developed infrastructure. A near collapse will allow us to purge the government of liberals and their Marxist programs. The herd of deadbeats completely dependent upon handouts will be “culled”. As the least unstable country in the world anybody looking to invest their money will look to America first.
It will be the mother of all economic corrections...
The beneficiaries who don't get what they expect, will buy a bunch of matches.
This will happen in every socialist country, including ours.
Smoke’em if you got’em, we are in a relatively short break.