By Peter Souleles, Sydney: "Now a man can work a whole year and earn $40,000 (£25,000) and work hard for that. And now the government can in a millisecond print the same amount of money and that's what they do. So clearly paper money has now lost its function as a store of value."
- Egon von Greyerz
The intellectually bankrupt Tokyo Roses of the gold world would have us believe that some form of gold (and silver) standard is not possible because there is supposedly not enough to go around. So why hasn't the unlimited supply of paper money solved our problems? Why was mankind able to function for centuries with such "limited" quantities of precious metals? Maybe because the less debt there is and the less asset inflation there is, the less need for money there is.
As Egon von Greyerz says, they can print in a millisecond what takes others a year to earn. The reality is that they can print the whole GDP of the world in a millisecond. Once people fully comprehend this reality the fat lady will have well and truly sung. Unfortunately the paid mercenaries of the fiat machine are outdone by us greater fools who are willing to part with our goods and services in return for their counterfeit paper.....read on
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