It's hard not to take a stance when the world is in a pickle. Most of the US public was of the opinion that when the banking system was failing, that it should have been allowed to collapse. Instead, the feds decided to bail them out. And now look at what's happened. We're living in a world of dominoes lined up on a shaky folding card table.
Sooner or later, the financial system IS going to collapse upon itself. And not just in the United States. Most of western society is going to hell in a hand basket. Greed is the problem, NOT capitalism. Once the gold standard was eliminated, it was so easy to say "We're broke? Just print more money!" Communism, socialism and any other "ism" isn't a viable choice, either. Because they're run by people. And people get greedy.
I don't have a clue what will replace the financial system we have now. Will we be using euros? Or renminbi/yuan? I don't know. But I do know one thing. It's not going to be a pretty transition. So keep track of your resources. Bartering has never gone out of style.
"By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens."
ReplyDeleteWho do you think said it? None other than John Maynard Keynes.
Joe you stated one very important key to this whole thing that guarantees that no matter what we do there will eventually be problems. That thing that you mentioned is that its all run and designed by humans. As bad and as scary as it can be to have this I don't know that I would want our fate in the hands of something else "above" us other than God, and I'm pretty sure that he's worried about something more important than our financial systems....
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