Contemporary currency warfare

This is as good a time as any to start the thread because a lot of angry Washingtonians are worried sick about the economy and are trying to scapegoat or say "Shalom" to Shalom Bernanke.

As you might have known, Ben Shalom Bernanke is of course the current Chairman of the Board of Governors of the US Federal Reserve. His official title also included Chairman of the President's Council of Economic Advisers (CEA). In October of 2005, Bush appointed Bernanke to fill Alan Greenspan's shoes. In retrospect, the unlucky fellow had in fact been earmarked by Greenspan to hold the bag for him just before the economic indicators nosedived.

Poor Bernanke. He should have been born a Chinese and not a Jew, thereby gaining more glory for himself riding on the crest of an economic boom on the far side of the Pacific Ocean.

One of my six degrees happens to be in finance, and one thing I have noticed about financiers is that they don't have any idea where the economy is headed.

The brightest and ablest financiers usually miss the easiest economic indicators and bet on the wrong horse, making it necessary for equally ineffective rearguard action and remedial measures to prevent the economy from spinning out of control.

It is a hot topic these days because many people know a lot about hot warfare involving weapons and casualties, but nearly not enough about how a few financial handlers in this increasingly interdependent world of ours can negate the hard work and the sacrifice of a large segment of the population.

In order to prevent what happened to a French bank recently and to a British bank several years ago, we have to learn how the world's financial centers work.

There can be only one fulcrum in a see-saw machine.
Similarly, there can be only one leverage point in a global financial system.
That point is no longer the U.S.

Right now it is still enjoying the advantage of experience. But it is like a 45-year old man playing basketball with a 13 year-old who's already six feet tall.

The 45-year old may still win the game because of his experience, but the future in a few short years simply cannot be his.