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ranbotrader
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The Dollar Cannot Be Devaluated and Sucidal Bankers

- Hugo Salinas Price - Plata.com

It appear to me that you may be living in ga ga land Hugo. Whilst you may have a politically correct point your statement:

"As things now stand, it is impossible to devalue the dollar."

is most likely something you have gleaned from bureaucrats as it defies general logic. Whilst there may not be an 'official' devaluation the dollar has been floated and THE MARKET determines its value. Sure there are large American trading houses connected to government which try to fix the price, but ultimately if there is a loss of confidence then it will tumble. The reality is that the money printing scam which has been running for several years should see a lower dollar and sooner or later the market will realise that there is a relationship with supply and demand and value. This should be a no brainer. And given that real economic growth has not even occurred with the huge money printing program then the end should sort itself our sooner or later.

As for gold those who pull the strings cannot forever control the REAL price of gold. Sure trading bits of paper is fine but as you said 'delivery' of the real stuff will be required sooner or later. And Germany will not wait forever either.

It is an interesting game and the fat lady has to sing at some time. Not even a manipulating government and banking system can hold up the current system forever. And as you said it is a matter of 'confidence'. I suggest that any confidence will evaporate soon unless there is genuine economic progress.....which I strongly doubt will occur.

Commented 3674 days ago

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Beginning of the headline :The last dollar devaluation took place under President Roosevelt in 1934, when from being worth 1/20.67th of an ounce of gold in 1933, the dollar was devalued to 1/35th of an ounce of gold. The last opportunity for devaluing the dollar took place in August 1971, when the dollar was still pegged at 1/35th of an ounce of gold. Nixon took the advice of Milton Friedman and made the worst mistake in history; Nixon did not devalue the dollar as he should have done, but simply took the US off the gold standard, such as it was, and thence forth the US refused to redeem dollars held by Central Banks around the world at any price... Read More

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