Posted on 10/06/2014 6:48:13 AM PDT by blam
Tyler Durden
10/05/2014
Submitted by Patrick Barron via Mises Canada
I have started reading a new book about the collapse of the Zimbabwean dollar–When Money Destroys Nations, by Philip Haslam and Russell Lamberti.
One of the main causes of the hyperinflation was the decision of the Zimbabwean government to give army veterans of its recent wars a big bonus. The promise was too much for the Zimbabwean economy to manage, so the government printed money... and lots of it.
Why is this relevant? Well, look at America.
We have been fighting wars around the world for twenty-five years and recently promised universal healthcare to all citizens. The baby boom generation is retiring and will draw unfunded Social Security and Medicare benefits in ever larger amounts.
There is no way that these promises can be funded by the American economy. We will print money, too, just like the Zimbabweans.
The Zimbabwean economy went into hyperinflation, because the Zim dollar was not held as a reserve anywhere in the world.
(snip)
(Excerpt) Read more at zerohedge.com ...
Can anyone spell “duh”?
He says gold will go to $10,000 and silver to $200.00 overnight.
This video was originally posted on this (The Weekend Is Over, And Gold Is Falling ($1185)) FR thread post #29.
“Can anyone spell “duh”?”
But of course.
Allow me.
“Liberal”.
Dog bites man.
It’s why I STILL love junk silver (in my posession) and bought the farm I did - back in 2008.
Thank You LBJ and your Great Society! You destroyed SS.
If Zimbabwe made the mistake, repeating what Zimbabwe did wouldn’t be a mistake it would be intentional since you know the outcome.
EVERYTHING obama does either:
a) Weakens America/AmericansI have yet to have anyone raise a single substantive counter example in several years of posting this.
b) Distances America's allies
c) Strengthens America's enemies
d) Serves Islam
e) Harms Israel
Or some combination of the above.
Indeed, it’s not a “mistake”, it’s blatantly intentional.
Did FDR understand math?
If a liberal ever had an honest moment, yes.
My ex had her on take on “Truth” (you could hear the capitalization when she pontificated on “Truth”)
A story could have absolutely no correspondence to actual facts, but if it illustrated an known liberal fact, then it was “Truth”.
A totally fictional story about an inner city yute, with every detail made up from whole cloth was “Truth” if it illustrated that gang-bangers are basically decent, liberals are infinitely compassionate, the government is all knowing, all wise and totally essential.
Yes, they both placed a black Marxist as head of their govts.
The U.S.A. (United Socialists of America) are unlike Zims. Reserve “federal reserve notes” currency backed by the greatest armed forces in the history of the planet. It works until it doesn’t. Then, a new meme will go live.
DEPOPULATE socialists from the body politic. DISMANTLE their collectives, foreign and domestic. DISMANTLE the FED.
Individual members of CONgre$$ with the treasury can be held accountable.
Socialism Is Legal Plunder - Bastiat
FED up…with debt slavery
A few years ago for Christmas I gave my wife 100 billon dollars. She liked it.
It was an older Zimbabwe 100,000,000,000 note that I picked up on ebay for $5.00 +/-.
100 trillion dollar notes now go for $5.00.
With the historical examples of Weimar Germany and Zimbabwe well publicized, the Fed cannot be said to be making mistakes. They know what they are doing. It is just that their goals differ from what normal people assume them to be.
Well, we do have a president with roughly the same mindset and academic background as Robert Mugabe . . .
Why not? Afterall we too have a third world leader.
Thanks for making me laugh—I used to laugh a lot.
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