– Basta ‘La Casta’: No End in Sight to Italy’s Economic Decline (Der Spiegel, July 24, 2013)
The man who trades freedom for security does not deserve nor will he ever receive either. – Benjamin Franklin
– Basta ‘La Casta’: No End in Sight to Italy’s Economic Decline (Der Spiegel, July 24, 2013)
What is the one consistent factor in all these stories about the declining economies of the Euro and Japan, China and the US? Growth of nothing but debt.
If the world GDP is really between $50-65 Trillion a year, (their numbers, not mine), there should not be more money than that in circulation…..no wealth or assets to support it. Instead, they have printed 100s of that amount, they no longer reveal how much is printed in the US.
Upshot, only growth is debt because the world economy cannot support a monetary system that exceeds the world economy………it is going to shrink, there is nothing to sustain it. The money becomes worthless. That is why we are seeing prices going up so sharply. It isn’t the value, it is the fact the currency has less value each week.
The US has been the world reserve currency since WW2. But, with the advent of the Sucre by the South American Trade Alliance in June of 2010, this new electronic currency translates the value of member nations, making it possible for them to trade with each other using their own currency……….making the idea of a world reserve currency obsolete. It is a clean way to avoid the US dollar. Being small, the South American Trade Alliance (annual income of $500 million) flew under the radar.
Russia and China developed the same system in November of 2010, and brought in many other nations over the next 3 years. Now, less than half the world uses the dollar for international trade.
Last week, the US said they were going to sanction Russia for holding Snowden. What planet do these idiots live on? They don’t use the dollar, they don’t care if the US sanctions them or not. Australia and New Zeeland no longer use the dollar, along with many emerging African nations. India and Japan now trade internationally without using the dollar. Sanctions on Iran forced them to switch to the Chinese/Russian electronic currency system.
This insane monetary game is bringing the world economy to it’s knees, and the only ones who don’t seem to recognize this are the creators. It isn’t working, it is beyond stupid. We are losing power every day, and instead of trying to work with other nations, the fools want to bully.
Those days are over, and they are going to wake up finding themselves sitting on piles of US currency nobody wants.