Thursday, March 26, 2009

Has Anybody Else Ever Been Through A Currency Swap?

On is a discussion about Rep. Michele Bachmann (R-MN) introducing legislation to bar our changing the dollar for another non-sovereign currency. It is astounding to me the blathering for the (presumably young, and obviously poor) people who think abandoning the dollar and national sovereignty is a good idea.
One thing is obvious. None of them have ever been through a currency swap before. I was once. In Vietnam in 1969. The currency was the MPC, Military Payment Certificates. One day we were all called in to headquarters and told to bring all our money. It all had to be turned in and be replaced by the actual amount of money up to $200, no matter how much you had. Anything over two hundred dollars was considered ill-gotten gain, no matter how you got it. If you had scrimped and saved it or if you had made souvenirs was indistinguishable from gambling, theft, or drug dealing. The poor Vietnamese who had been paid for anything (illegally, true) were SOL (Stuff out of Luck). Pandemonium reigned, with people who felt they were stiffed angry and often violent.
When Obama changes us over to a United Nations currency, what will happen then? Will we all start with $200? I instantly think of a game of monopoly and its $200 for passing start. Will people who are holding more have their's forfeit to the Government? Will Obama follow FDR and call in all the Gold and precious metals? If they are not money or more properly money is not them, why did they seize all of it? And will we stiff all our Asian trading partners ... again?

Stay tuned.

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