Friday, October 29, 2010

Gold Will Outlive Dollar Once Slaughter Comes: John Hathaway

The world’s monetary system is in the process of melting down. We have entered the endgame for the dollar as the dominant reserve currency, but most investors and policy makers are unaware of the implications.

The only questions are how long the denouement of the dollar reserve system will last, and how much more damage will be inflicted by new rounds of quantitative easing or more radical monetary measures to prop up the system.

Whether prolonged or sudden, the transition to a stable monetary system will become possible only when the shortcomings of the status quo become unbearable. Such a transition is, by definition, nonlinear. So central-bank soothsaying based on the extrapolation of historical data and the repetition of conventional wisdom offers no guidance on what lies ahead.

It’s amazing that there is no intelligent discourse among policy leaders on the subject of monetary rot and its implications for the future economic and political landscape. Until there is fundamental monetary reform on an international scale, most economic forecasts aren’t worth the paper on which they are written.

Telltale signs of future trouble aren’t hard to spot. Only a few months ago, Federal Reserve Chairman Ben Bernanke and a chorus of other high-ranking Fed officials were talking about exit strategies from the U.S. central bank’s bloated balance sheet and the financial system’s unprecedented excess liquidity. Now, those same officials are talking about pumping more money into the system to stimulate growth.


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11 comments:

  1. What on earth is this guy talking about? I just heard on the matrix news that unemployment is down, the economy is picking up and we are experiencing 3+% growth. The stock market is up and the dollar is doing great! Silver-Gold? Ha, who needs it when have dollars?

    Now what I am worried about is the ink cartridge bomber, thank God Obama cares about us and issued a terror alert. After all, they hate us for our freedoms. And we are free, thanks to Obama and Bush and our superior military fighting for freedom in the middle east and destroying those evil Muslims.

    Now back to more important things like my Facebook & Twitter accounts, time to go the mall. Thank god we are free!

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  2. i think you're the crazy one, 12:24

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  3. "until there is fundamental monetary reform on an international scale" hmm..globalist speak. yeah, give everyone a UN/BIS/IMF/WTO/WB backed currency

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  4. 1:59 I'm sure he was being sarcastic

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  5. 12:24 - Troll, STFU.

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  6. Jeeeeeesus 12:24 pm was being ironic and sarcastic...What's wrong with you moody grouchy f*cks?

    Some of you may need a lil St. John's Wart...But NOT warts from St. John.

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  7. you all need genital warts, from sams mom, thank god the world is now safe from ink cartriges, next it will be exploding toilet paper, what will this loser, nazi government think of next, I believe nothing this govt or media says ever, if they say the sky is blue I can look outside and see that it is grey, if they say it, IT IS A LIE PERIOD!

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  8. Anyone who thinks I (12:24) was serious, you need to take a deep breath and do a couple of shots, or maybe a couple of puffs....

    Of course the disinfo shrills hate the sarcasim, difficult for them to start an off topic subject and get everyone fighting against one another. Don't think it's part of their training.

    :-)

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  9. Oh, & by the way, thanks to 4:03 & 3:48, I agree 100% with both of them!

    :-)

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  10. 5:31,

    They weren't able to read your whole comment. The internet creates ADHD in people. They can't read out a whole thing so they only saw your first sentence or a few words from each paragraph.

    People like that would interpret your post as:

    "unemployment is down economy is picking up and we are experiencing growth stock market is up and dollar great!

    thank God Obama cares.

    Now back to more important things."

    I swear people are becoming ignorant. They would make more sense if they were high! Oh wait... that's probably what they already have been.

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  11. the usa is one of the most ignant countries on earth, fat, stupid lazy and believe their lying non leaders, and will be a 3rd world country within 10 years

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Everyone is encouraged to participate with civilized comments.