US Dollar Loses 97% of its Value

Would it be a fair analysis to say that in most of the large scale financial plans we've ventured into, (take Kissinger's deal with the Saudis, in 1973, reaffirming the dollar as OPEC's trading currency) which involve the manipulation of currency in our favor, there inevitably seems to be a "piper" to pay down the road?

(not to say that such negative repercussions outweigh the benefits of such ventures, and we'd probably do it again- I mean what could go wrong with a scheme which allows you to print otherwise worthless money as fast as developing and industrialized nations could consume petroleum, that wasn't even yours, and accept real goods and services for this money? Well, plenty, you just need to postpone that pain until it's someone elses's problem)

It  might also be said that dollar recovery became an impossibility when we facilitated China's industrialization during the '90s, by closing factories that produced long standing US products  and had China make them instead. Since US consumers would  not purchase the same or similar product now made overseas if the quality was too inferior, many companies sent engineers to China or had Chinese products expertly analyzed here and then helped the Chinese perfect their manufacturing processes, instead of doing it by trial and error.

(I know a guy whose job was just that, he had a background in electrical engineering and worked as manager of new product development for the largest car alarm company in the business as they expanded ino mobile audio. They bought up major US made brands as they began to fail financially in the face of many cheaper Asian products, they would continnue the brand name but have the products made in China. He travelled to China every few months, submitting a sample or two to half a dozen manufacturers to see what they could do, and they'd send their versions to him to punish in their lab here. He might even have materials sent out to be analyzed, and whatever they came up short on he'd give them the expert analysis to correct the problem, whether it was faulty materials or in the manufacturing process itself. This knowledge was gleaned from the experience of the engineers in the companies they had bought up- you can imagine how a plethora of divverse industries all doing this same practice over a period of time could have transferred an enormous fortune of intellectual properties that we cannot ever get back.)

The Chinese are both industrious and, regrettably, sometimes unscrupulous in their business practice. With no respect for patents, some industries progressed in leaps and bounds, the result of which now is a situation where there is little the US could possibly  manufacture that anyone in the world would want simply because they quality gap has so narrowed, it's not worth the additional cost.

Dollar recovery used to come when it dipped low enough that our exports would be priced attractively in foreign markets. Thus it always had a safety net.

There is still a net, it sits at the US worker willing to earn a bowl of rice, a few hundred yen and a couple of fish heads for a day's work. And have the environment horrifically polluted.

(I have heard the real estate crisis described as wall street, without a solid expanding business like manufacturing to invest money into and grow by the end of the '90's, and after the dot.com bust, was left with little choice but to fabricate one- junk mortgage funds. Which obviously was not sustainable...)

Marc Faber, the renowned international investor, has stated that the low-interest-rate policies of the Federal Reserve Bank "created the mess" and that Bernanke's current policies will "destroy the US dollar."