Former Secretary of the U.S. Treasury, Robert Rubin, seems to be near full recovery from the Big Mack attack (care of co-cuddler Iris Mack http://www.huffingtonpost.com/iris-mack/bob-rubin-just-wants-to-b_b_557621.html?page=2). Speaking at the Trade Tech conference in New York about how the U. S. dollar is becoming sandwiched between a rock (of the gold persuasion) and a hard place (also known as da’ basement), the Goldman Sachs alum threw Ronald McDonald and the future of the dollar menu under one of those new Megabuses that subsidizes your $1 trip to New York (plus 50 cents booking fee) and leaves you searching for a place to eat, drink and cuddle after you get there.
Since there is probably only one other individual more central to the spanning of the destruction of the green back (aka green-spanning) than Mr. Rubin, I will let him speak for himself.
“QE1 was a necessity, QE2 I sort of wondered about,” Rubin said. “QE3 would accomplish very little. Not only would it expand the money supply, it would undermine confidence that the Fed would ultimately monetize our debt.”
There’s that word again sandwiched right into the middle of the sentence with more holes in it than a piece of swiss cheese – confidence.
For all of those who are worried about being labeled as terrorists for simply stocking up on canned corned beef, you’re in good company. You may call yourself “preppers” (not of The Preppy Handbook variety) but the real question is will you let Bob into your bunker if he comes knocking? No need to worry about Bob eating your lunch because he’s fully prepared too. In his own words…
“My overall conclusion is we should all hope for the best,” Bunker Bob said. “It is absolutely prudent to prepare for the worst.”
Here’s a link to the complete article from Bloomberg: http://www.bloomberg.com/news/2012-03-09/rubin-has-too-many-dollars-13-years-after-leaving-u-s-treasury.html