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Inflation IS Default

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Bad Penny
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« on: February 20, 2011, 05:25:24 am »

I'm just now listening to the rebroadcast of this Friday's show, specifically to the segment featuring the great Bob Chapman.  In that segment, Chapman made an important error (more likely an oversight) in which he said that the US could react to China's attempt to control US monetary policy by threatening devaluation and/or default.

Ahem, but INFLATION (devaluation through excess supply) CONSTITUTES PARTIAL CONSTRUCTIVE DEFAULT, as you're paying back the relatively expensive money which you borrowed with significantly cheaper money, which means that you're not paying back the full value that you borrow.

Furthermore, the US banksters are already devaluing the dollar by "running the printing presses at full speed", as Chapman so correctly indicated.

Finally, the US is addicted to Chinese credit, and, although I (thank God!) have never been addicted to any illegal substance, the whole US-China situation reminds me of an addict standing up to his or her pusher: there's certainly going to be a limit to the addict's ability to resist the pusher, the extent of which limit is going to be inversely proportional to the extent of the addict's addiction.  The US is now deeply addicted to Chinese credit.
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