INCREASING AWARENESS
Financial journalist Lars Schall (L.S.) talked with Jesse, the host of the popular financial web site Jesse’s Café Américain (Jesse)
Jesse: …I write about gold and silver now because they are at the heart of what is happening. And there is not as much about stocks and bonds, because I have stopped trading actively in such a broad range of things.
I am fascinated by the sea change in the world monetary system, which has been colloquially called ‘the currency wars.’
L.S.: Will those ‘currency wars’ intensify going forward according to your analysis, and if so, how do you think they will play out?
Jesse: Yes they will intensify and we are seeing that already. A fiat currency is an exercise in both confidence and power. As confidence weakens, the use of power must intensify to maintain it.
One of the things that people tend to forget is that when one adopts a common currency, they surrender a portion of their economic autonomy. We are seeing this play out in the European Union as monetary theory would predict.
In adopting a common currency, the euro, the entire region thereby agreed to let a central group set their monetary policy for all, which includes the ability to tighten and loosen supply in response to prevailing economic conditions. But whose conditions, when they vary over a broader area?
When a country adopts another currency, they surrender a portion of their own fiscal authority, and thereby their political autonomy.
If you do not believe this, just look at what is happening in Greece and Cyprus.
READ FULL REPORT: larsschall.com
http://www.larsschall.com/2013/09/27/we-are-seeing-an-all-out-defense-of-the-status-quo/
“Knowledge makes a man unfit to be a slave.”
― Frederick Douglass
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Published on Sep 20, 2013
Christopher Greene of AMTV interviews Luke Rudowski of WeAreChange at LPAC 2013.
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