US, UK, Europe, House of Cards on a Windy Day
How much longer can it keep going? The politicians are stuck. On one side is violent internal upheaval or devastating war, on the other is the collapse of their one-world dreams in an economic morass that will take decades to clear up.
The western world is finding out what happens when its collective credit limit is exceeded. Debt is really nothing more than spending tomorrow’s earnings today. How much longer can money creation keep this sinking ship afloat? Quantitative easing or asset purchase programs are just euphemisms for debasing the currency.
The Bank of England governor Sir Mervyn King said yesterday “This is the most serious financial crisis we’ve seen, at least since the 1930’s, if not ever.”
It’s all a house of cards. If one of the players folds his hand then the whole of world finance risks descending into the abyss.
The ponzi scheme…
The dot com bubble burst, so to keep ‘it’ going at all costs, they dropped interest rates and created more money which then created the real estate bubble. When that collapsed, they changed the rules so that the banks rubbish assets on the ‘books’ aren’t held to market value. Then, print more money and push all that rubbish onto the governments. Except, now the governments are in trouble since they’ve bought too much rubbish.
So, let’s print more money… Counterfeiting has become the norm and the oncoming hyperinflation will wake up even the most cynical Keynesian. The derivative banking and fractional reserve banking has gone too far and is about to cause world collapse.
Here’s an idea… the sooner people break free of the “left vs right,” divide and conquer con game the sooner something constructive can actually be done. Avoid the distractions that are thrown in front of us. Keep your eye on the ball… or should I say, the bankster…
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