Wednesday, March 3, 2010

Unlike Greece, the U.S. can be relied on to repay its debts because the U.S. can print its own fiat currency but Greece can't ;

Just last October, the euro replaced the dollar as
the reserve currency preferred by foreign
central banks.

That preference was recently shaken by the
Greek "sovereign debt" crisis which created a
rush from the fiat euro (euro-bubbles) to the fiat
dollar (dollar-bubbles).

As a result of the decline in the purported "value"
of the value-less euro-bubbles, the purported
"value" of the value-less, fiat dollar-bubbles
increased-and the price of gold fell
http://adask.wordpress.com/2010/02/26/opium-of-the-masses-fiat-currency/#more-601

In the current Greek debt crisis, prudent Greeks
anticipated the problem and moved 8 billion euros
of their savings out of harm's way and into
foreign banks.

In the USA, prudent Americans may also start
moving their bank savings out of harm's way and
into foreign banks-or better yet, into
privately-held gold and silver coins
http://adask.wordpress.com/2010/02/28/april-fool-bank-run-fever/

The Federal Reserve is vastly understating
the growth of the U.S. money supply
http://www.gata.org/node/8391

GATA Daily News
http://www.gata.org/taxonomy/term/2

Kitco Precious Metals
Market News
http://www.kitco.com/