Saturday, March 19, 2005

The Emperor's still wearing the same old outfit

This is perhaps not the week to air such
apocalyptic concerns, though they are much on
Buttonwood’s mind. In the end, what foreign
central bankers have it in their power to do is
to reveal before all the world that the mighty
American economic empire has no clothes—not even
a pair of little fuchsia-coloured shoes.

What these central bankers have "in their power
to do" is nothing more than react to that declining
stock certificate belonging to USA, Inc. called
the once Almighty Dollar.

Would you call "reacting", "power"?

I wouldn't.

Not by any means.

None of the other currencies are wearing any shoes
either, by the way. The Euro was just another shell
game designed to cover the bankrupcy of the
individual countries.

It's all this case.

See it all here.