Totally outrageous, incendiary data here, here and here. Please note that this comes from the appropriately labeled Rumormill News et al, but I would be remiss to not put it out here and spice up your impending holidays. Discernment is thoroughly advised. Not responsible for loss of bladder control.
“Introductory Skype conversation: [11/20/09 2:07:05 AM] Kerry
: Cassidy: we received the following message: “I do not
: normally pass on rumors or hearsay, but a very good
: personal friend’s uncle is a Deputy Economic Advisor to
: Obama as well as a Professior at a prestigious Eastern
: School. He was called into a private meeting last week with
: the President. They were told, I quote, the Following:
: “Between now and Jan 1st 70 more big banks will fail
: and 70% of Retail Companies will be Bankrupt. The President
: will allow them to make as much as they can for the
: Christmas Holidays then Jan 15 there will be a Bank Holiday
: and their new currency will be issued with a devaluation of
: 6 to 10 to 1. “I believe this is why they are trying
: to keep the market and dollar up now with their lies on all
: the News outlets. Set up the people to steal every last
: penny they can get. Martial Law cannot be too far behind.
: Get your money out of banks and into physical Gold and
: silver. I recommend 60% gold 40% silver, food, foundation
: seed, gun ammo generators… etc. If you cannot eat, drink
: it, wear it, live in it, raise food on it, do not invest in
: it. If you have stocks, bonds 401K IRA, take the penalty
: and put it in what I just said.”
: Benjamin Fulford: That jives with what I am hearing from
: multiple high-level sources. Please pass on to your
: Pentagon and agency connections that once the Federal
: Reserve Board is bankrupt, serious money will be made
: available for the constitutional US government. Martial law
: and a 90% devalutation is a much worse choice than
: announcing a return to the constitution. The American
: people are not liable for the over $100 trillion in Fed
: debt if the Fed goes bankrupt. We can do an interview right
: now if you want.
: Kerry Cassidy: OK, great, hold on one minute
: Kerry Cassidy: OK, calling you…”
Rumor has it that a 10 to 1 currency devaluation was seriously considered some time ago. The 10 to 1 ratio was determined the best and simplest alternative for this would allow moving the decimal point over one place ergo, 1000 dollars in the bank would be reduced to 100 dollars and, at the other end, a loaf of bread, instead of costing 3 dollars would be 30 cents a loaf.
The pyschological advantage to such a devaluation would be that in the long run, the “shock” of continued dollar inflation would not feel so painful or be so noticable. Instead of bread inflating in cost to say 5 dollars a loaf (egads!) it would “only” rise, with the 10 to one devaluation, to 50 cents a loaf.
Coins would be much too difficult to replace so for the sake of expediency all coins in circulation would retain their original fractional value making a penny actually worth a dime, a quarter of a dollar actually worth two dollars & fifty cents, etc. Devaluation or not, save your change!