07 August 2010

Planet's Best Reporter: The Death of Paper Money

One of a couple stories that cropped up last week that flew under the radar was this one from Ambrose-Evans Pritchard of the London Telegraph.

It seems that the economic downturn we are now seeing (Thursday's jobless claims surged higher than "expected") he is predicting will persist on a bases of deflationary prices for the near term.  Unfortunately, that means ONLY the near term, due to the quantitative easing polices of the Easy Money Fed and Helicopter Ben Bernanke. 

The major scare last week (though, it wasn't much of a scare) was that a particular book is in high demand amongst international traders, bankers, and other finance ministers.  I have procured a copy of When Money Dies: The Nightmare of the Weimar Collapse  on loan from AKFan and will be starting it this weekend.  You, my dear reader, will get the full advantage of the best facts without the hassle of reading it or paying $800 for a copy.

Until the next update, enjoy your weekend! 

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