Is your retirement some kind of plaything?
Central banks keep printing up money and handing it out to the big banks like it is Monopoly money. They imagine that money is the same as wealth, but there is a big difference, as anyone who has become a multibillionaire in a hyperinflationary environment can tell you.
If one currency falls in value relative to others, it gives the exporters and manufacturers of the lower currency an advantage. And then seeing this advantage, the other central banks quickly print up more of their own currencies to beef up their own manufacturers. Some refer to this as the race to debase and the big loser in this game is you.
In the video accompanying this article
, an analogy is made for how to understand the international currency wars and what they are doing to our economy. It has to do with a common childhood toy: a spinning top.
Scott Carter is chief executive officer of Lear Capital. He is an economic theorist, an investment specialist, and an authority on precious metals. Carter is also a popular talk-show guest with appearances on Bloomberg Businessweek, CBS Market Watch, Fox Business News, The National Post, Forbes, and Investors.com. For more of his reports, Go Here Now.
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