"A shudder in the loins engenders there
The broken wall, the burning roof and tower,
And Agamemnon dead."
William Butler Yeats, Leda and the Swan
No this is not a reference to birth of Greenspan, but to the grand arrangement of the allied powers after the war, the Bretton Woods Agreement, and the birth of the world's still reigning wonder, the world's reserve currency, the dollar.
The partnership of the financiers and the government in the States has taken the reserve currency hostage, turning it to its own purposes starting with the closing of the gold window by Nixon some 40 years ago today, and provoked a long, smoldering currency war.
But behind their slanted walls of mighty Wall Street by the Hudson flowing on the plains, the States have seemed implacable, almost invulnerable. And in their pride so have tempted the wrath of the gods.
And in his tent, brooding after a long period of unappreciation, is that legendary champion, Achilleus, armored in gold, with his wily companion, Odysseus, dressed in silver.
Is Bernanke the stalwart Hektor to stand against him, and Timmy the persuasive Paris?
And so the story goes...
