By Michael Snyder
''By recklessly printing, borrowing and spending money, our authorities
are absolutely shredding confidence in the U.S. dollar. The rest of the
world is watching this nonsense, and at some point they are going to
give up on the U.S. dollar and throw their hands up in the air. When
that happens, it is going to be absolutely catastrophic for the U.S.
economy. Right now, we export a lot of our inflation. Each year, we
buy far more from the rest of the world than they buy from us, and so the rest of the world ends up with giant piles of U.S. dollars.''