William N. Grigg on the grim history of fiat currencies and what it means for the dollar:
For decades, the American ruling establishment has enjoyed the privilege of exporting inflation.
This has been done, acknowledges Ben Steil of the Council on Foreign Relations (a group I'm not in the habit of quoting favorably), by compelling other governments around the world to print huge mounds of their own currencies to prop up the dollar by buying Treasury Notes.
Thus when the Fed inflates, central banks world-wide follow suit, thereby driving up consumer prices for those ruled by satraps of Washington's global empire.
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