Aggregated Awareness

From the prodigious Antal E Fekete via his blog comes this latest essay for inquiring minds. In it, he explores the concepts behind the floating exchange rate regime that the world has lived with, since the US, under President Nixon reneged (ie. defaulted) on it's international gold obligations on the 15th August, 1971.

The exploration of the floating exchange rate regime by Professor Fekete comes to the conclusion, that it is a scheme to embezzle the US Dollar balance of surplus nations. This is achieved by luring the surplus nation to revalue their currency upwards against the US Dollar, as China is being asked to do now, and Japan had been asked to do previously.