Sunday, August 14, 2005

The Age of Illusion

The dollar resides in the Trauma Section of the
world's Monetary Emergency Room. Fiat currencies,
like people, become feeble and old, and die. The
killing cancer for the fiat dollar is debt. For
nothing except cancer grows and consumes like
debt. Dollar denominated debts have 'Hannibal'
and the dollar bankers desperately 'pushing on a
string'. Dollar holders are overwhelmed with
debt; be they individuals, corporations, local
governments, or federal governments. Unpayable
dollar denominated debts have to be liquidated,
by currency inflation or by default. And those
debts are so pervasive world-wide, that either
way, the dollar probably fights its' last
desperate and powerful "Battle of the Bulge"
before it too runs out of gas and dies.

This article is worth a full read. It covers why
the Euro is just another similar, but new, bad con.

See it here.