This week: December 4, 2020 - Amy Ginsburg - What is Happening in the White Flint Area? An update from the Friends

David A.Fitzwilliam – Book Review of CURRENCY WARS by James Rickards–2011 & THE GREATEST HOAX by US Senator James Inhofe–2012


Posted on December 13th

David A.Fitzwilliam – Book Review of CURRENCY WARS by James Rickards–2011 & THE GREATEST HOAX by US Senator James Inhofe–2012

Dave Fitzwilliam was last week’s breakfast speaker, and we thank him for contributing his own synopsis of a very complicated topic.

“My talk was on James Rickards’ book Currency Wars. Ben Bernanke’s Fed printing of dollars (through quantitative easing to pay for the deficit) will bring a global crisis and a risk of the collapse of the dollar, The economies of the U.S., Euro, and China’s yuan are tied in a complex way and are 60% of the world economy. When the Fed devalues the dollar to prop up the US economy, it has a negative effect on China and the Euro. It causes inflation of the Euro and the Yuan. US treasuries are paid back in cheaper dollars. Abroad it causes pressure to cut costs to maintain exports and causes higher unemployment. Commodity prices (ie oil, nat, gas, gold, soy beans, corn, etc.) are inflated. As the debt increases and more $;s are printed, the sudden collapse of the dollar is at risk.




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