In this week's Off The Cuff podcast, Chris and Charles Hugh Smith discuss:
- The Future Of Oil
- Much more volatile prices lie ahead
- The Folly Of Financialization
- Central planners are creating cures worse than the diseases they're trying to fix
- The Dollar Dilemma
- The direction of dollar now hurts as many player as it helps
- Return Of 'Race To The Bottom'
- We risk a global currency war like that seen in the 1930's
While our culture reveres the financial sector, it's essential to keep in mind: it doesn't create value. It merely distributes it. And more and more often these days, distributes it into the hands of the few.
The fund manager who made millions last year from 'beating the market'? He didn't contribute any additional value to the pie: the slice he pocketed simply left a smaller pie for the rest of us.
And the central banks, they control the flow of capital into the financial system as way to effect their goals. While this flow does have its impacts, it does not create any real prosperity that can solve long-term problems. So, the "solutions" resulting from central bank policies are false — and often, the cure resulting from these policies is worse than the disease they were trying to address in the first place.
Chris and Charles both see the inevitable outcome of the quantitative easing programs executed by central banks worldwide over the past 7 years as a global currency crisis.
by cmartenson 
