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	<title>The Brothers Austrian &#187; fiat currency</title>
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		<title>Fiat Currencies Will Fail, They Always Do&#8230;.</title>
		<link>http://www.brothersaustrian.com/fiat-currencies-will-fail-they-always-do/</link>
		<comments>http://www.brothersaustrian.com/fiat-currencies-will-fail-they-always-do/#comments</comments>
		<pubDate>Sat, 20 Feb 2010 00:14:19 +0000</pubDate>
		<dc:creator>MisesBeliever</dc:creator>
				<category><![CDATA[Gold]]></category>
		<category><![CDATA[Inflation]]></category>
		<category><![CDATA[dollar]]></category>
		<category><![CDATA[euro]]></category>
		<category><![CDATA[fiat currency]]></category>
		<category><![CDATA[greece]]></category>

		<guid isPermaLink="false">http://www.brothersaustrian.com/?p=341</guid>
		<description><![CDATA[Zero Hedge notes that gold has reached an all time high in Euros. Today, the DXY threatens to break out and Elbert Edwards of Societe Generale says that the Euro will fall 25% versus the US Dollar (I agree, but, wow, seems hard to believe with helicopter Ben at the helm). The market confusion volatility in [...]]]></description>
			<content:encoded><![CDATA[<p>Zero Hedge notes that gold has reached an all time high in Euros. Today, the DXY threatens to break out and Elbert Edwards of Societe Generale says that the Euro will fall 25% versus the US Dollar (I agree, but, wow, seems hard to believe with helicopter Ben at the helm). The market <span style="text-decoration: line-through;">confusion</span> volatility in currencies is the unfolding of a major global currency crisis.</p>
<p>Meanwhile, back <span style="text-decoration: line-through;">at club med</span> in Greece, customs agents go on strike,  exacerbating Greece’s economic woes by hindering exports. Greece’s citizens are rightfully angry that their wages and lifestyles will likely have to be trimmed back. After all, most of Greece’s citizens made the best decision for the families by working for the federal government (Fed employees are 20% of Greece’s workforce). Now they will likely have to except a pay cut or be retrained in another industry. There simply is no easy “human” decision to be made.</p>
<p>Meanwhile, gold is attempting to return to its real worth, zero, which would place gold at a value of 6,000 US DOLLARS! At which time the governments of the world will blissfully ask that its citizens hand over its metal in exchange for toilet paper as it did in the 1930s.</p>
<p>Andrew Jackson is howling from his grave as we speak, while Nicholas Biddle lies in his with a smile.</p>
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