Thursday, June 29, 2006

Where the gravy's going

I can't remember seeing something this succinctly
"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

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

Full report.