From fiat money imposed upon us all by President Nixion we have, among other things, the following assessment.
“The US DOLLAR INDEX rallied today 31 basis points to close slightly over 72 at 72.042. Yaaawn. We’ve seen this act before. Does it mean anything? Who knows? Nobody has accused the dollar of sincerity recently.
Remember the scenes from the old Tarzan movies? Walking through the jungle, all the bearers suddenly grow quiet. They cock their heads. The safari leader, clutching his rifle, asks the lead bearer, “What is it, Mbwezi?” Dimly in the distance the throb of drums grows louder. The female star creeps closer to the safari leader, grabbing his arm and scooting behind him. The drums throb louder. The bearers drop their loads.
Now if you’ve seen one Tarzan movie, you know that the Ngali, the most bloodthirsty tribe in all of Africa who specialize in dicing their victims while still alive, are about to attack. You know that unless Tarzan shows up pretty soon, the entire safari will be salsa.
That scene is where the US dollar is right now, hiding behind safari leaders Bwana Ben and Bwana Paulson, while the wild tribes of bond & currency Ngali circle in the jungle, waiting for their chance to bring down the whole safari. Can’t you hear the drums throbbing in the distance? Bad juju.”
At times I wonder if monatary policy is actually a form of anarchisim these days.
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