When the Federal Reserve Bank Saves Us

... from having to actually borrow money instead of just letting the Fed print it for us, we can all breath a sigh of relief, just like the Russians have done.

Russians are shifting their cash into foreign currencies and buying things they don’t need as the economy stalls and the central bank weakens its defense of the ruble, signaling a larger devaluation may be on the way.

Think of the excitement that lies in store for us as we try to figure out what we should do with our increasingly worthless dollars. It will be like a grand parlor game and we'll all be playing it together! Such family bonding we will experience!

(I)nvestments of choice range from electronics to gold jewelry. Evroset, Russia’s largest mobile-phone chain, is telling people to buy anything they can.

“It’s better to feel happy that you own something than to fear losing the money you have earned,” Chairman Yevgeny Chichvarkin says in a letter posted at 5,200 Evroset stores. “If you need a car, buy a car! If you need an apartment, buy an apartment! If you need a fur coat, buy a fur coat!”

Sales at Technosila, the third-biggest consumer electronics chain, have doubled since September as customers rush to swap rubles for flat-screen TVs and laptops, spokeswoman Nadezhda Senyuk said by phone from Moscow, where the company is based.

Hey, that sounds like an economic stimulus right there! Hooray!

None of this will happen until the Feds starts printing money to pay for US debt. Once that starts, all bets are off. Since there are fewer buyers of Treasuries and a mountain of them for us to sell this year, that might happen sooner rather than later. We're currently experiencing deflation, so dollars are growing in value right now. That won't last forever as the government shovels borrowed money into the maws of every Democrat special interest group they can find.

Here, a family plays the fun new board game, "Hyperinlfation!" Dad, trying to immediately spend his paycheck to buy his fifth washing machine, just drew a Fate card that reads, "Too late! Localized rioting has closed down the store!"