All currencies are very weak. Devaluing seems difficult when virtually everything except gold is contracting. Defaults and unemployment create a death spiral. Despite the govt’s spend and borrow strategy, it is still dwarfed by the unemployment,credit contractions and defaults that continue to mount and grow with every month that passes. We see federal govt being careless with money, but everyone else is having a very hard time getting the stuff lately. And the Feds may have the same difficulty in the not too distant future as well.
