Tuesday, 2 June 2009

Schiff on GM & the US dollar slide

Take a look at Peter Schiff's new video blog, in which he comments on the slide of the US dollar (as investors gradually realise that all the bailouts and "stimuli" are all paid of by fiat dollar printed out of thin air and backed by nothing), and the rise of currencies like the NZ dollar (up 38% on the US dollar since March!).

And he talks too about the so called "bankruptcy" of General Government Motors.  This is not a real bankruptcy, he says.  If this was a real old-fashioned bankruptcy then new investors could take up the resources being wasted by General MOtors and use them more efficiently.

Instead, the government and the unions will be running them even less efficiently than the previous management!

Nobody wins!  Which, as Pravda noted recently (in the highest of historical ironies), is pretty much the problem with modern-day American "capitalism."
 It must be said [says Pravda], that like the breaking of a great dam, the American decent into Marxism is happening with breath-taking speed, against the back drop of a passive, hapless sheeple . . .

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