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Re: federal reserves post# 123033

Tuesday, 06/24/2003 7:27:08 PM

Tuesday, June 24, 2003 7:27:08 PM

Post# of 704049
FR, you underestimate politicians...

I was in Brazil when the economy was collapsing fast. Inflation out the ying yang. The solution was a new currency (cruzerio now becomes cruzado sp?) to convert you simply struck the last three zeros from the existing paper currency until the politicos got new stuff printed.

So there is always a solution. The people lost everything based on paper currency. The politicos felt good for having solved a serious economic problem.

Could it happen here?. Who knows? More likely hyperinflation will do the equivalent over the next few decades.

Just my obervation...........

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