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The “flight to quality” continued yesterday (Wednesday) as investors pushed up the price of Treasuries on fears the U.S. Federal Reserve’s drastic rate cut means the economy’s woes are far from over.
Millions of migrants arrived in the USA mostly drawn to a standard of living maintained by dollar bills printed for the Federal Reserve bank and their equivalent created by bookkeeping entries. In this manner we have a paper tiger. It is said that “Beauty exists in the eye of the beholder.” The beauty of the dollar pyramid exists because it is associated with value by the eye. As awareness of this illusion dawned, several nations shifted from the dollar to EU currency including oil-rich monar
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