IHT: Dollar Intervention

quote:

TOKYO: The dollar could grab the headlines at a weekend meeting in Japan of the Group of 8 nations that is meant to focus on oil and commodity prices, especially if there are signs that the shift in U.S. currency policy could lead to coordinated intervention. Currencies are not at the top of the agenda for Group of 8 financial leaders, from Britain, Canada, France, Germany, Italy, Japan, Russia and the United States. With central bankers absent, currencies will not be mentioned in the communiqué, and officials have said the talks would focus on commodities and inflation. But the strong correlation between dollar weakness and the rise in oil prices must surely feature in any such discussion.

It doesn't matter what they do. There is simply no way to pay off our $10 trillion debt without printing money like there is no tomorrow and making current dollars in circulation worth less.

When the baby boomers start retiring and entitlement costs skyrocket, look out below.

Paper money is toast.