Smith points out that American children aren’t taught about the credit system or investing in their future, and that’s part of what’s making this situation so difficult.
Austin, TX (PRWEB) July 24, 2012
Absolute Wealth and Managing Editor James R. Gorrie have published the fifth portion of a provocative interview with Craig R. Smith about China, gold, and the dollar. It asks “Will the dollar survive?” and the answer isn’t a bright one.
Initially asked by Gorrie about the American dollar, Smith said that the Federal Reserve and “Mr. Bernanke [don’t] understand the definition of money. Money to be money has to be portable and divisible; it has to represent a stored value. It has to be scarce.”
That sets the tone for the rest of the interview section. Smith points out that American children aren’t taught about the credit system or investing in their future, and that’s part of what’s making this situation so difficult.
“Until we educate the American public--that’s why what you’re doing is so important--until people are educated and understand these things, they won’t make the right decisions going forward,” Smith said in the interview.
In Part 1 of the interview series, Smith and Gorrie talk about America’s need to weigh its military and economic options as the global recession gathers steam.
Part 2 covers the deliberate diversification of China’s economy, likely meant to reduce American leverage. Part 3 summarized the other American recession on the micro level. Smith made perhaps his biggest revelation by telling Gorrie that hyperinflation is on its way.
Part 4 went through the implications of inflation, with Smith claiming that the U.S. needs "deleveraging."
Craig R. Smith is an economic analyst and commentator, and has been featured in over 1,500 radio and TV programs. Craig is a frequent guest on Fox's Your World with Neil Cavuto and Harvest TV's Money Moment. He also writes a weekly editorial for WorldNetDaily.com. He believes we need a revival of self-government and free market principles to help rebuild the American economy. Smith’s next book, Earth AD: Earth After the Dollar, will be out in September.
James R. Gorrie has more than eighteen years of financial advisory experience. He holds a BA in economics, and attained doctoral candidacy in international relations and comparative politics, with an area specialty in international political economy. Gorrie writes daily articles on current macroeconomic and investment topics, Special Reports, and analyses on geopolitical events around the world that affect the market.
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