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BHP Billiton Limited Message Board

  • elmojitogatico elmojitogatico Jan 21, 2010 9:27 AM Flag

    Where Is BHP Heading?

    Where Is Your Money Heading?
    IN ALL parts of the world, the prices of nearly everything keep going up…While it is not new, the scope and pace of it are.
    Money & Credit said : “Inflation is the number one problem, the problem that makes all others pale into insignificance. If allowed to rage…it could easily destroy the fragile fabric of this and every other democratic society.”
    What makes the situation so serious is that never before in history has the entire world been caught up in such inflation at the same time. We are in a period of mass communication assests are transferred ina twinkling of an eye.
    Authorities Worried
    If American consumers are irritated over current oil price increases of $80+ look at Peru “The rate in South America has far exceeded 100 per cent in some countries. During the 1980s, annual inflation rates in Peru seldom fell below 50 percent, and between 1988 and 1990, inflation rates
    skyrocketed uncontrollably, peaking in 1990 with annual inflation rates upwards of 10,000 percent.”
    August of 1973, prices in the United States jumped the fastest in twenty-six years. Since the United States is the main foundation for the Western world’s economic system, authorities all over the world were very much concerned about the consequences of such inflation. Now there’s China growing at a unsustainable rate of 10% GDP, inflation at 1.8% per month.
    The havoc that world inflation has caused prompted the head of the Bank of Zambia, Africa, to call the future of the world’s money systems “bleak.” Also, the Nigerian Daily, noting the chaos in the world economy, urged African nations ‘to establish their own monetary exchange system in order to eliminate losses resulting from (a possible) world monetary crisis.’
    As economist Milton Friedman wrote in Newsweek : “Too much creation of money, too much government spending,” and too much government intervention. Many nations are now spending more money than they make. To pay for such things as the huge cost of armaments and for fighting wars, for public services and other things they want to do, they have constantly gone into debt. To pay their bills, they have to borrow money or create it on their printing presses. In addition, the general public has engaged in vast borrowing themselves. But the effect of all this excess money chasing goods and services is that prices are pushed up.

    China has already started to try to pop the buble and when bubbles pop markets drop.

    Sources: The Awake Journel 1974, Where Is Your Money Heading?
    Money Demand and Inflation in Peru, 1979–91
    by Jaime Pedro Ventura


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