Is James Rickards Right About A Coming Monetary Apocalypse?
I point out that the international monetary system has already collapsed three times within the last 100 years—1914, 1939, and 1971—and that another collapse would not be at all unusual. But it’s not the end of the world. It’s just that the major powers sit down and reform the system.
Well, that may be, but my spidey senses are telling me that savers, landowners, workers and the middle class will be getting well and truly screwed in the process.
I don't know what it is about all these economists that makes me think they are about as credible as all the experts predicting rising seas and never-ending hurricanes because of AGW.
ReplyDeleteWell, Austrian economists are more credible than the Keynesians who think that fiat currency can be inflated forever to hand out limitless credit to governments, businesses and homeowners. But no one knows how the economy will function once the inflationary bubble blows up through universal Western insolvency. More certain is that it probably won't be good for spoilt-rotten Westerners.
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