What Is Money? Part 11: The Great Default, by Gary North »
Posted By Striker101 1 month, 3 weeks ago in NewsEstablishments around the world all deny this. They have gained power and wealth by means of the expansion of government. They have justified their success by insisting that the government-business alliance is the only way to establish economic growth and economic security for the masses. This claim rests on a more fundamental claim, namely, that an unhampered free market is destructive of economic stability and will inevitably lead to economic depression.
Read Full Story at lewrockwell.com »
56 Views Share Story 1 Comment Report
Submitted By:
Striker101
Lifetime self-employed designer/builder/solar, realtor, retired and busier than ever writing about the moral foundation for Life and Liberty. Ongoing collapse is the critical ...
Who Also Submitted: All »
Other Related Articles: All »
RSS Join the Discussion
+ Add CommentComments So Far: 1 (view all)
-
100%
Striker1011 month, 3 weeks ago
This comment is below the standard viewing threshold View It »
" Mass inflation seems more likely over the next decade. If the world's central banks can coordinate the expansion of money, thereby funding the national welfare states, the public will not be able to escape. They will pay the inflation tax.
Reply
The ways around this are limited to investing in real goods: commodities, small farms, used goods stores, small-town real estate. Not many people will see this in time. Of those who do, few will take action. These escape hatches are for people who are hedging against default. The average voter has no financial reserves. Of the 20% who do have reserves, 80% will be stuck in conventional investments. They will believe the Establishment's Keynesian line. "The government can fix it if you just hang on."
I slightly disagree - this won't take nearly a decade, perhaps a year? Hey, if you think it's gloom and doom, you're the one at risk! Can you afford to risk it?
Add a Comment
Sign In With Your Propeller Account
Please keep your comments relevant to this story.
To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.