Is printing dollars and euros by fed and ECB a crime against humanity?
In the past 12 months some essential food item prices have gone up by 100% in some of the poorest countries. This hits the poor the hardest as food consumption is not price elastic and food often forms the bulk of the household budget for these sections of population. At best the poor under nourished billions can only give up eating. What the US and Europe appear to be basically doing is just monetizing the international status and brand of their currencies…. people in Europe and US are unknowingly benefiting from this continuous supply of free lunch…in the process snatching the meals from the mouths of the really needy in underdeveloped countries….the Bernanke magic seems working in a macabre way… Sworn enemies like India and Pakistan conduct their trade in USD, so do India and China, Russia and Brazil. It may be time for these emerging economies to shed their myopia and to the extent possible start trading in Yuan or Rouble or whatever….but not in the flood printed USD and
