With all our current federal government borrowing being financed by freshly printed currency, it is no wonder the world is looking for a replacement currency. We have enjoyed an extraordinary privilege as the issuer of the currency used for world trade, and we have abused that privilege to an extraordinary degree. This method of harvesting the world's wealth is ending, and instead is becoming a policy of self-destruction.
Fed Treasury Purchases `Monetizing Debt,' May Spur Inflation, Hoenig Says - Bloomberg: www.bloomberg.com/news/2011-03-02/fed-treasury-pur....html
http://chum.ly/n/72bce7
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