http://www.lewrockwell.com/sennholz/sennholz18.html
Money Is Flooding the World Markets
by Hans F. Sennholz
Dr. Hans F. Sennholz was professor and chairman of the department of economics at Grove City College.
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A few pessimistic economists are convinced that a devastating economic cataclysm lies ahead. They usually point to three threats that may have a serious impact on the American economy. There is the burgeoning tower of public and private debt resting on a foundation of greed and overindulgence. There are a multimillion-dollar list of promises to a retirement system and a vast building of government guarantees and promises that are bound to be unkept. There even is a world of complex derivatives, the value of which depends on something else, such as stocks, bonds, futures, options, loans, and even promises. They all, according to these economists, will be the victims of the coming cataclysm.
This economist, who has observed central bank policies since the 1950s, is in basic accord and feels sympathy for these pessimists. They seem to have a clear view of the principles of money markets and the policies conducted by governments ever since they discarded the natural money order, that is, the gold and silver standards. But these pessimists tend to ignore the countless ruses, devices, and stratagems used by government officials and central bankers to hide the consequences of their policies. Long before there will be a financial Armageddon, there will be a myriad of government regulations, controls, edicts, and rulings that hide the consequences of monetary policies. Policies will be readjusted frequently to cover the actual effects. Given the public confusion and unfamiliarity with monetary policies and their consequences, a large majority of the public is likely to accept official explanations and welcome the regulators and controllers.
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We know that the gooferment is broke, made promises it can’t keep, and will be mia when the you know what hits the fan.
Self-defense: Zero debt, save; save in things that don’t inflate or depreciate or disappear; be aware; be educated; be vocal; develop skills; stay healthy; be prepared; be practiced. imho
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Reinke Faces Life 