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Requiem for the Dollar

By Implode-Explode Heavy Industries

``You get the strong impression that Mr. Bernanke fails to appreciate the tenuousness of the situation?fails to understand that the pure paper dollar is a contrivance only 38 years old, brand new, really, and that the experiment may yet come to naught. Indeed, history and mathematics agree that it will certainly come to naught. Paper currencies are wasting assets. In time, they lose all their value. Persistent inflation at even seemingly trifling amounts adds up over the course of half a century. Before you know it, that bill in your wallet won't buy a pack of gum. ''

Full post as published by Mortgage Lender Implode-o-Meter on December 05, 2009 (boomark / email).