The End Of Fiat Money

“Hear Me Now, Believe Me Later,” was the title of two separate and prescient pieces penned by Pomboy, an economist and founder of the MacroMavens research boutique. One, published in March 2006, foretold the disastrous costs of the housing bubble. The second, somewhat later, laid out the consequences of the bubble’s “financial echo.” Today, Pomboy predicts something more draconian: the demise of fiat money—currencies that aren’t backed by anything other than government decrees that they have value…

http://online.barrons.com/article/SB50001424053111904346504577531052271788084.html?mod=BOL_hpp_mag#articleTabs_article%3D1

Related:

Sovereign nations, state governments, Californian cities, small businesses, homeowners, middle-class families, recent graduates and all types of other individuals and entities around the world are facing the same growing problem… DEBT. While the European Union is in the spotlight at the moment, the debt crisis is arguably worse in the United States and reaches its nasty tentacles into just about every nook and cranny of modern society.

 It is sucking the life out of economies, stagnating growth, leading to central bank debt monetization, which leads to inflation and higher food prices, job cuts, furlough days, rising unemployment, harsh austerity, record small business failure, record foreclosure rates, depression, stress and an overall sense of anxiety throughout most of humanity.

The only two solutions being debated for the Eurozone at present time are additional austerity measures/tax hikes or a massive new round of debt monetization and quantitative easing. But it does not take an economic expert to conclude that neither one of these courses charted above will resolve the crisis. They have confined the debate to these two options in the same manner that we are presented with the false left vs. right illusion of choice in our political elections…

http://www.goldstockbull.com/articles/worldwide-debt-default-jubilee-is-the-only-solution/

Speak Your Mind