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Tuesday, July 22, 2014

Crime of the Century?

"Creditors and reserve holders in the BRICs, the SCO (Shanghai Cooperation Organization), the GCC (Persian Gulf Cooperation Council), and other emerging markets are watching this money-printing pageant with undisguised frustration and increasing determination to end an international monetary system that allows such economic free-riding at the cost of inflation, lost exports, and diminished wealth in their own countries.  It remains to be seen whether the international monetary system collapses of its own weight or is overthrown by emerging-market losers in response to this crime of the century being perpetrated by the U.S., U.K., and Japanese Central Banks."


From The Death of Money by James Rickards