Thursday, June 29, 2006

Where the gravy's going

I can't remember seeing something this succinctly
written...
"The fiat currencies and debt creation model the
industrialized world has implemented will
collapse unless money and credit is continuously
being expanded. It is basically a type of Ponzi
finance scheme where new buyers must take out
existing holders of assets at always-higher
prices."

Most, if not all the institutions involved will
fail at that too.

Full report.