Quote from: Rudd-O on November 18, 2012, 04:22:46 AM

Quote from: sunnankar on November 18, 2012, 04:10:14 AM

Statist monetary policy must be conducted in secret or it will not be successful at allowing the rent seekers to take advantage of market inefficiencies as a result of their access to power centers. Look at how vigorously the Federal Reserve attempted to defend Bloomberg when it came to disclosing bailout funds.

The whole "in secret" thing, I can vouch for it. In my country of origin, there existed (some still exist) quite a few characters who had connections with the money printers (this was before they dollarized the economy). They got rich as FUCK. As it is to be expected from a group of official counterfeiters and their scumbag friends.

Their M.O. was, essentially, like this: the counterfeiters would tell their friends "we're about to devalue the currency by counterfeiting more money and changing the peg to the dollar", which prompted their friends to buy large amounts of dollars at the then-official price, after which they would print a shitton of bonds (which they of course eventually defaulted upon). Which would cause the currency to be worth even less nothing (try to imagine that grammar horror in terms of currency) than it was before. Then they would repurchase all the money they had sold, and then some, using the bought dollars. Kickbacks, of course, were the norm.

Insider forex trading for the lose. Many people lost their homes, cars, businesses, some even their lives, to poverty. But that was all "okay" because these scumbags made hundreds of millions, hand over fist, until a new president (who was ejected from power in a coup) dollarized the economy. Now they're trying to bring back galloping devaluation (a national currency they will devalue at will, of course) using bullshit "sovereignity" arguments.

Expect the same to happen with the Fed (except this time the insiders are literally inside the Fed). I've seen it happen, The Bernank is doing the exact same moves, there is no way in hell this isn't going to happen in the U.S., because it's -- quite simply put, and incontestably so, according to the history of every single statist currency that went bust -- the natural, and malevolent, destiny of paper currencies. What mathematically cannot continue, will not continue.

Thank FSM we have Bitcoin to hedge against that inevitable upcoming disaster.

Are you from Russia?