Governments have always been a bit sneaky. They tend to hide what they can from the public. And I’d say the outcome of the latest G-20 meeting this past weekend was a great example of this.
This group of 20 finance ministers and central bankers from the world’s top 20 economies basically spent a ton of taxpayer money to jet over to Moscow to put together a statement that more or less said: “You can continue to devalue your currency… just don’t talk about it.”
In other words, feel free to do most anything. Just don’t let the public in on what you’re doing.
It’s
a strategy that worked fairly well in the U.S., so the rest of the G-20
nations can now simply follow our example. Meanwhile, our Federal
Reserve can continue to devalue our currency and the public still
doesn’t get it.How you’ve Already been Affected
by Currency Wars in the Past
The American standard of living continues to erode. Americans just don’t seem to realize the impact.
In fairness, there have been a number of mechanisms put in place to disguise what should be obvious.For example, when I was growing up, people had car loans for two to four years. These days they have to stretch that out for up to seven years.
The food you buy at the grocery store costs more because you get a smaller quantity for a similar amount of money.
Also, what one income-earner used to be able to do in the 1960s and early 1970s, now takes two income-earners to produce a similar lifestyle. Yet all of these things are the result of the currency being undermined by the central bank with the full permission of the government.
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