Users Online Now:
1,745
(
Who's On?
)
Visitors Today:
58,448
Pageviews Today:
112,088
Threads Today:
48
Posts Today:
824
01:31 AM
Directory
Adv. Search
Topics
Forum
Back to Forum
Back to Thread
REPLY TO THREAD
Subject
Peter Schiff. the FED is promoting INFLATION!!!!!
User Name
Font color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Indigo
Violet
Black
Font:
Default
Verdana
Tahoma
Ms Sans Serif
In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 1090353:MV8xMTk4OTExXzE5NDY0NzMzXzlGOTFBNUY3] [quote:Anonymous Coward 1106727] WARNING! What ever they say, the opposite is what to expect! If they are promoting Inflation, expect deflation. They want to sucker people into massive quantities of metals before they pull the rug out! What "rug" are they going to pull out. Feel free to elaborate. [/quote] We will see a repeat of history except that the U.S. dollar will no longer be king. They will implement the world currency as planned back then and them a set price for gold will be established to prevent it's rise. Currency exchange rates will be locked into a narrow band. http://en.wikipedia.org/wiki/Bretton_Woods_system Fixed exchange rates The rules of Bretton Woods, set forth in the articles of agreement of the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), provided for a system of [color=red]fixed exchange rates[/color]. The rules further sought to encourage an open system by committing members to the convertibility of their respective currencies into other currencies and to free trade. What emerged was the [color=red]"pegged rate" currency regime[/color]. Members were required to establish a parity of their national currencies in terms of gold (a "peg") and to maintain exchange rates within plus or minus 1% of parity (a "band") by intervening in their foreign exchange markets (that is, buying or selling foreign money). In theory the reserve currency would be [color=red]the bancor (a World Currency Unit that was never implemented[/color]), suggested by John Maynard Keynes; however, the United States objected and their request was granted, making the "reserve currency" the U.S. dollar. This meant that other countries would peg their currencies to the U.S. dollar, and—once convertibility was restored—would buy and sell U.S. dollars to [color=red]keep market exchange rates within plus or minus 1% of parity[/color]. Thus, the U.S. dollar took over the role that gold had played under the gold standard in the international financial system. (Rogue Nation, 2003, Clyde Prestowitz) Meanwhile, to bolster faith in the dollar, [color=red]the U.S. agreed separately to link the dollar to gold at the rate of $35 per ounce of gold[/color]. At this rate, foreign governments and central banks were able to exchange dollars for gold. Bretton Woods established a system of payments based on the dollar, in which all currencies were defined in relation to the dollar, itself convertible into gold, and above all, "as good as gold". The U.S. currency was now effectively the world currency, the standard to which every other currency was pegged. As the world's key currency, most international transactions were denominated in US dollars. [/quote]
Original Message
[
link to www.europac.net
]
Pictures (click to insert)
General
Politics
Bananas
People
Potentially Offensive
Emotions
Big Round Smilies
Aliens and Space
Friendship & Love
Textual
Doom
Misc Small Smilies
Religion
Love
Random
View All Categories
|
Next Page >>