Oh, longterm that is a done deal Ironglow. The course was set in 1971 when we totally left the gold standard and all the world went to a total fiat money system. Now in the short term I expect the FED to hold off on QEIII when they finish the current quantitative easing in June. They are catching a lot of heat about food and oil inflation. Then, we might see a rebound in the dollar which has been bottom bouncing and a sell off in commodities including oil, unless Saudi Arabia erupts. This will be temporary because when the stock market begins to flounder, Helicopter Ben will begin QEIII, only they will call it something else. This could be the beginning of the fatal blow to the dollar. Debt is no better than it was before; in fact it is worse because of the additional government debt. They are only trying to hold things up by spending. They can't spend forever because the dollar will run out of gas as we are already seeing with high food and gas prices. The correction that we could have finished in 2008 will finally come and be much worse. Mises explained this in 1928. Ron Paul and Rand Paul understand this and have been right, but are small voices in the Keynesian forest. Paul Ryan and B.O. are clueless. Helicopter Ben has been wrong on every prediction that he has ever made and with our central bank system, he runs the show and decides the fate of us all. Before 1913 the system was freemarket run by all participants in business including the consumer. Central planning has always been proven a failure because one man or a committee can't know everything and every market signal. Look at all the examples of failure in the world from the USSR to Cuba.
