BRICS should happen faster, please, and I say this as an American. Only when the world stops propping up the dollar as the leading reserve currency will the madness stop. The US will have to repudiate its debt, since it won't be able to inflate it away, try as it might, and it can never be paid back. Once they've defaulted, it's pretty much over. Meanwhile, there are 50 free and independent States in this so-called union and they should all start acting like it.
Well, they've seemingly tried, although I think the inflation we've seen to date is garden-variety government-growth-covering inflation and not the hyperinflation that would be necessary to cover the debt. The hyperinflation would necessarily lead to the crack-up boom. This won't happen as long as the Fed wants to pretend it has any political independence whatsoever.
BRICS should happen faster, please, and I say this as an American. Only when the world stops propping up the dollar as the leading reserve currency will the madness stop. The US will have to repudiate its debt, since it won't be able to inflate it away, try as it might, and it can never be paid back. Once they've defaulted, it's pretty much over. Meanwhile, there are 50 free and independent States in this so-called union and they should all start acting like it.
I read today that Japan is beginning to divest itself of US Treasury Bonds.
The world IS waking up.
Why can't they inflate it away?
Well, they've seemingly tried, although I think the inflation we've seen to date is garden-variety government-growth-covering inflation and not the hyperinflation that would be necessary to cover the debt. The hyperinflation would necessarily lead to the crack-up boom. This won't happen as long as the Fed wants to pretend it has any political independence whatsoever.