Here comes the worldwide currency debasement

[katty]

more: http://ec2.gata.org/node/6125

Here comes the worldwide currency debasement
Submitted by cpowell on Mon, 2008-03-17 01:43. Section: Daily Dispatches
U.S. Losing Confidence Vote as Investors Flee

By Ambrose Evans-Pritchard
The Telegraph, London
Monday, March 17, 2008

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/17/ccview...

As feared, foreign bond holders have begun to exercise a collective vote of no confidence in the devaluation policies of the US government. The Federal Reserve faces a potential veto of its rescue measures.

Asian, Mideast, and European investors stood aside at last week's auction of 10-year US Treasury notes. "It was a disaster," said Ray Attrill from 4castweb. "We may be close to the point where the uglier consequences of benign neglect towards the currency are revealed."

The share of foreign buyers ("indirect bidders") plummeted to 5.8 percent, from an average 25 percent over the last eight weeks. On the Richter Scale of unfolding dramas, this matches the death of Bear Stearns.

Rightly or wrongly, a view has taken hold that Washington is cynically debasing the coinage, hoping to export its day of reckoning through beggar-thy-neighbour policies.

It is not my view. I believe the forces of debt deflation now engulfing America -- and soon half the world -- are so powerful that nobody will be worrying about inflation a year hence.

[acmavm]

1. This administration has defrauded us all. How can they NOT

be prosecuted under the RICO Act?

edit: It has been an ongoing continual criminal conspiracy.

[kickysnana]

2. kicking /new link?

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/17/ccview117.xml

Also p0osted here:
http://ec2.gata.org/node/6125