From: Dehede011@aol.com
Date: Sat Aug 31 2002 - 21:28:21 MDT
In a message dated 8/31/2002 9:51:48 PM Central Standard Time,
forrestb@ix.netcom.com writes: "The actual cause is "Triffin's dilemma",
which was actually discovered at least 3 centuries ago, and possibly first
formulated by Sir Gresham, the Exchequer to Elisabeth some 450 years ago.
"The idea is simple, industry is destroyed at the source of money creation.
Forrest,
Is this what happened during the 19th century? I have read that
England was investing all over the globe but especially in America.
According to the source I read the U. S. had a heavy balance of payments in
their favor and the English were living off American products.
But the question is: were the English investing in their own industry?
According to the way things gradually deteriorated for the English working
class and how the English was so broke they could not finance their end of
the war with Hitler I guess they couldn't. Later I was reading in a history
of the 2nd world war that when lend lease began to hit their armed services
they couldn't believe the high state of our quality control. Their mechanics
couldn't get over drawing a repair part from stores and being able to install
it without serious alteration with a file or that the repair part would slide
into place without serious application of a bashing tool.
I am sure many other causes come into play but all in all England
sounds very much like a country that did not maintain its own vital
industries.
Oh yes, and the pound did finally collapse.
How long do you predict it will be before our dollar collapses?
Ron h
BTW, I have read your email and will save it for further study.
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