Can printing dollars stave off US economic crisis?

FRFI 173 June / July 2003

Thanks to David Yaffe for his excellent article in FRFI 171. As he points out, the USA needs a constant influx of foreign capital to maintain the overinflated and privileged lifestyles of the US American masses.

Such an influx should be impossible, considering that, since 1970, the US produces less and less basic substantial goods and the weakness of the US dollar with respect to the euro. ‘Should’ be that way, if free trade governed, but not if the neighbourhood’s only armed bully has anything to do with it.

Absent from the article, I suggest, is the fact that the US dollar is today’s ‘preferred currency of international exchange’. So the US needs no foreign capital influx, but only to set the presses rolling.

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Act now to support Alan Porter!

My name is Alan Porter and I am from Scotland. I am serving a life sentence in a prison in England. I am trying to persuade the Prison Service of England and Wales to transfer me to a Scottish prison. I think that as a Scottish national this should be my right but they are refusing to accept my application. I am therefore writing to ask for your help.

I was born on 10 December 1955 and brought up in Renfrewshire. I lived in Scotland until 1985, when I moved down to England. Four years later on 3 July 1989 Lewes Crown Court sentenced me to life imprisonment for killing a man in Brighton. It was a stupid, senseless act. I have never denied committing this murder or tried to blame anyone else for it, and of course I regret it terribly.

My life at the time was a bit chaotic, to say the least, and even part of the time I’d spent in England prior to getting life had been spent in prison for another offence. My intention was always to return to Scotland, where I had a council house that had previously been my grandfather’s. I started my sentence at HM Prison Wormwood Scrubs. I petitioned for a transfer then but it was refused.

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