Won't happen....

Reader comment on: Bernanke Backlash

Submitted by Fast Eddie (United States), Apr 9, 2013 09:48

As perverse as it may seem, there now exists a very strong conflict of interest between

the existence of 'sound' money, i.e., money which has actual intrinsic value (such as gold

or silver) and 'fiat' money, i.e., the garbage that Bernanke creates by the Trillions. Therefore,

the federal govt will never permit the existence of any form of money in the future except for

more fiat money because any other form would, eventually, due to free market forces, cause

people to cease using the fiat money. It is similar to what has happened, and indeed is still

happening in some third world countries, where black market goods have replaced the

country's official currency for buying and selling things. Were it not for fiat money, we could

not have the bubbles that the Fed now creates on a regular basis. The two biggest bubbles

waiting to explode now are student debt and farmland prices, both of which are at unsustainable

levels. A single acre of good agricultural ground in Illinois and Iowa now goes for as much as

$12,000, which is sheer madness and fueled by the Fed's QE's and the Congress's totally

irrational alternative fuels policies, i.e., ethanol. There are few certainties in life, but one certainty

that you can take to the bank (pun intended) is that our government is going to inflate its way out

of the multi-hundred Trillion dollar obligations it has taken on over the past few decades.

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