Friday, February 18, 2011

Opium and Fiat Currency

Refering to those "instances of shameful behavior the West still has not lived down," Dr. Antal Fekete writes, "The present trade dispute between the U.S. and China is reminiscent of the background to the two Opium Wars" — Silver and Opium. He continues:
    Once more, the issue is the humiliation and plunder of China as a "thank you" for China's favor of having provided consumer goods for which the West was unable to pay in terms of Western goods suitable for Chinese consumption. The only difference is the absence of opium in the dispute.

    Oops, I take it back. The role of opium in the current dispute is played by paper. Paper dollars, to be precise.

Labels: , , , ,

Bookmark and Share

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home

Omnes Sancti et Sanctæ Coreæ, orate pro nobis.