Rush to Gold Result of Stupid "Free" Trade scheme
- Free Trade Currency Wars Instead of Free Tariff Freedom -
The trouble started with a fascist, undemocratic WTO-GATT-NAFTA trade regimes written by multinational corporations and passed by corporate-fed legislators voting against the will of their own people. The result for First World Nations has been the gutting of economies, depression, the greatest shift of wealth in history, decline of democracy, and the empowerment of totalitarian and authoritarian regimes.
What we have now is a sorry setup of global oligarchy and oligopoly, the unnecessary transit of goods via fossil-fuel transport producing greater environmental impacts, and the ruin of First World wages, standards and benefits" not to mention the loss of democratic trade processes.
In the USA, this worst of worlds setup stems from the treaty power of the president and senate alone, and the removal of any interference from the great majority of wage-earning people in their own economy. Decades ago, the vast majority realized this as the schemes emerged and they would have vetoed these regimes had they any National Initiative process or veto of treaty powers.
As a result, so-called "free markets" have now been screwed up by forcing export-oriented economies and unbalancing domestic economies and needs. To further exports, fossil-fuel delivered "goods" now careen around the globe, and countries must continually lower their currency values. This leads to eco-ruin and higher costs of imported goods and inflation (after you've already seen your job outsourced, wages decline, and manufacturing capacity scuttled)" all because we have lost the right to adjust tariff policies as needed.
The result of people rushing today to invest in metals and resources is due to a "beggar-thy-neighbor" ever-cheaper currency policy due to the absence of free tariff policy. In addition to this scheme being nuts, we now screw up the earth with more mining and chewing up our environments due to the money fleeing currencies and investing in holes in the ground instead of building real economies meeting domestic needs first.
Remember that countries like India and China only had to change their internal incentives to unleash their entrepreneurs to achieve a better economy. They did not need to impoverish the First World in the process, and we did not need to "arbitrage" our labor and outsource employment. As a result of the current scheme, all countries can now never again reach these once higher standards, and the First World may never see them again, because they have been obliterated by forced "harmonization" in a race to the bottom courtesy of "free" trade.