Wednesday, January 18, 2012

What it's all about: money!!

Most people do not realize that money is primarily an exercise in faith by those using a currency. We all hope that those with whom we do business will accept the paper we hand them as the medium of exchange for what we actually want.

For most of the years after everyone gave up the gold standard, the American dollar has been the most accepted currency in the world. That may be about to change. I suggest reading through the following article from Pepe Escobar and Tom Englehardt which suggests a very intriguing possibility for our future:

This battle for the role of the world's pre-eminent currency has been used to explain many of the foreign policy adventures upon which the US and its allies have embarked in the last century. It's now looking as if the US dollar may be headed the way of the English pound and the Euro. Too many of the world's other inhabitants no longer have faith in it. Might be time to buy gold.

Here's another take on this subject:

Seems to make sense to me.

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