February 8, 2011 Leave a comment
BECKLEY — J.P. Morgan is now taking gold as collateral instead of the dollar because they realize how worthless it has become. Meanwhile, Egypt’s current government is being overthrown because of food price spikes due to the crashing value of the dollar. It’s kind of interesting to watch my country give a giant middle finger to the world. Al Jeezera has an interesting take on solutions to the world food problem, “Move to a different country, revolt, or die.” Of course, they didn’t point out the “unless your America option” which is just print more money and get shmucks like Egypt to trade us oil for those printed dollars or banks like J.P. Morgan to hold those worthless dollars as account collateral. So to answer the question what does J.P. Morgan and Egypt both have in common, they realize the worthlessness of the greenback.