Opinion (James Rickards, senior managing director of Tangent Capital Partners): The world currency system is riding down the road to catastrophe, says James Rickards, senior managing director of Tangent Capital Partners.
“The world already has entered a currency war that began in 2010 on the heels of the Federal Reserve’s massive easing program, he tells Wall Street Journal Digital Network. …
“’All major central banks are easing,’ he says. ‘Eventually so much money will be printed that this will lead to inflation. The endgame is collapse of the international monetary system — sometime sooner than later.’
“In both the United States and Japan, the central banks are trying to “import inflation” to get their economies going, rather than trying to boost exports, through a weaker currency, Rickards says. ‘They’re scared to death of deflation. They’ve cut rates, and the last resort is to cheapen their currencies.’
“When the international monetary system collapses, major financial powers will convene to plan the aftermath, he says. When that happens, each nation must have enough gold relative to its gross domestic product. …
“The global economy can muddle through this year, but major problems begin in 2014, he maintains.”
My Comment: If there is enough political force, they will restrict the money supply to the level of its gold reserves, and the world will get over it! The main thing is to take care of the daily bread and integral education for everyone. If in the past the concern was education of the population, this time it is upbringing because not only is an understanding of the new conditions of the integral global community as a family necessary, but also, the personal change of everyone so that he can become a member of the community.