Why give a hoot about the devaluation of the dollar? If your a foreigner not living in the US you probably are slightly amused by the whole thing. Let’s face it we all have a reason to hate Americans. Since I’m an American I would like to start by distancing myself from the US government on this issue.
The US government is so vested in our fiat currency it will do all the wrong things (in terms of strengthening the dollar), in order try to shore-up the sub prime mortgage mess. What you see them doing is everything possible to powder the noses of your friendly international banker and Wall Street broker at the expense of the US Citizen, who will pay with run away inflation. Yep you heard it here first! We are going to see big time inflation in the US and it isn’t gonna be over for several years. Republican presidential candidate Ron Paul has proposed the only real sensible solution by writing and sponsoring a bill call the “Honest Money Act.” Look into it for yourself because the mainstream media in this country is not going to tell about it. Unless Ron Paul is elected as president next year my dire predictions for the US Dollar will remain in effect and inflation is gonna be the norm for the foreseeable future. Don’t count Ron Paul out as a long shot at this point, I would say he has a better that 50% chance of actually winning the Republican nomination. I say this because let’s face it, the Republicans don’t have anybody else.
We US citizens don’t know what inflation is because in the past we have been insulated from it. Now with the successful roll-out of the Euro the US Dollar is not the only game in town. So your business plan should have a huge European component to it.
The thing the US government should do is regulate the Mortgage industry in favor of fair and fixed contracting. I believe similar regulations need to be in place for the credit card industry. However, Congress is impotent and unwilling to stand up to these international bankers. Why… because they are the US government and they won’t allow it. I would agree that if all your everyday American homeowner had access to an excellent contract lawyer working on their behalf we would not need government regulation. However, we aren’t living in an ideal world and the Amercian home buyer is more concerned with putting a roof over their heads than squabling over line items with their lawyer before signing closing papers. Anyone who has bought a home knows that it is a totally daunting task. The procedure could only be described as an act of religious faith in the banker who is financing the deal for you. We know how difficult it is to have faith in Jesus Christ, imagine trying to have similar faith in your banker. Don’t expect Congress to do the right thing on this, and don’t expect a Lawyer to stick around and be there after you pay his fees. Talk about a great reason to have government regulation.
Now that you know the background situation stay tuned for (Part 2). I hope to eventually get to the part where we can profit from all this mess. Remember, there is always opportunities to make money. Right now focus on Europe. Opening a bank account in Europe would not be a bad start.
http://www.bloomberg.com/apps/news?pid=20601109&sid=azto7U.TmGX0&refer=exclusive
Please comment I would like to know your perspective!
