Quote:
Originally Posted by DWB
In the event of a currency collapse, if they don't send the National Guard into the inner cities as quickly as possible, it will be Katrina v2 x100, because no one will be coming to help them.
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You might know Ben Bernanke made in an interesting speech back in 2002 which some believe hints at what is coming i.e. 40% devaluation of the US Dollar
"The blueprint for what is happening today was foretold in a speech given by Ben Bernanke to the National Economists Club, Washington, D.C. November 21, 2002. There was 5 main points to take from the speech. The first 4 have already happened, the last was if the other 4 didn?t work Bernanke would devalue the US Dollar."
US Dollar To Be Devalued ? Ben Bernanke Already Told US His Plans
http://alternativeeconomics.wordpres...-us-his-plans/
Ben Bernanke (Nov 2002)
"Although a policy of intervening to affect the exchange value of the dollar is nowhere on the horizon today, it?s worth noting that there have been times when exchange rate policy has been an effective weapon against deflation. A striking example from U.S. history is Franklin Roosevelt?s 40 percent devaluation of the dollar against gold in 1933-34, enforced by a program of gold purchases and domestic money creation. The devaluation and the rapid increase in money supply it permitted ended the U.S. deflation remarkably quickly. Indeed, consumer price inflation in the United States, year on year, went from -10.3 percent in 1932 to -5.1 percent in 1933 to 3.4 percent in 1934.17 The economy grew strongly, and by the way, 1934 was one of the best years of the century for the stock market. If nothing else, the episode illustrates that monetary actions can have powerful effects on the economy, even when the nominal interest rate is at or near zero, as was the case at the time of Roosevelt?s devaluation."