And it's about time. Libertarians have been trying to warn people about this for years. The government/Fed control of the money supply is a big mistake. Currency should be allowed to be a competitive market, with private banks issuing redemption slips for stores of gold or other valuables, and competing with each other. If government, or a government-granted monopoly like the Fed, controls the issuance of the currency people use to trade, it will inflate the supply of the currency, destroying the buying power of it, and making it worth less and less over time.

This is why two years ago, the Chinese gubment dumped over 90% of its US bonds. They knew that if they kept them to term, the return would be in less valuable Fed reserve Notes.

http://rt.com/business/china%20singapore%20currency%20trade-539/

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