YOUR MONEY

Governments, fools and the new casino

 When Western governments abandoned the gold standard and allowed their currencies to ‘float’ on the ‘open market’,  they made billions by selling off their gold reserves. But they also lost ‘control’   to the ‘open market’ of currency trades and all the speculation that it involves.

Instead of being ‘in charge’ governments become ‘secondary players’ and only ‘react’ when things become dire.

Governments may defend their actions under the guise of ‘capitalist ideology’ and ‘free, open markets’ (as stated by a recent minister to the G20) but what governments are really doing is losing control of their economic future by abrogating responsibility! 

If it is illegal to print money in your home – i.e., counterfeiting – because it hurts those who accept the worthless bills and it distorts the economy, so too does letting currency traders and those wealthy enough to put  down $20,000,000+ ‘bets’ on a currency’s rise or fall.

In fact, according to the international newswire and financial advice agency, Reuters, today’s wise investor should turn away from volatile and money losing stock markets and instead move to the “real hot spot”  “where the action is”: foreign exchange speculation (G&M, Feb 19,2013, B12)

So don’t waste your time going to a casino if you have lots of money. 

Play the latest crap shoot from the comfort of home and your computer/smart phone:  world currencies and the world economy!