Tuesday, November 29, 2011

The World is Owing

So what happens when there is no one left to pay? Did the bankers not foresee a time when they didn't have anyone left to take money from? Are aliens coming to the rescue? Will they be fleeced next?

It all started with private debt, the Mums and Dads lending to start a business or buy a house. Low interest rates and a stable money supply built on gold. Governments then got into the fray seeing a path to power built on borrowing to bribe voters. The gold standard was ditched and the politicians couldn't help themsleves. Printing money by the boat-load and laying all the costs on their non-the-wiser constituents.

Now those sovereign entities are going bust. Euroland is a basket case of debt. But look not to the discipline of austerity, but look to the last saviour on earth. The world banking cartels last option; the IMF.

The last stand of the bankers has arrived. The last stand of the working classes is here. The IMF has announced a US$600 billion bailout for Italy and Spain. Now just how stupid is that? I'm usually a little conservative on who I call stupid, but I make an exception today. The bankers are now running the world into the abyss. Headlong into a time of turmoil and disruption not before seen. The money system is now a gonner.

If we had had stand out leadership, we could have progressed an orderly reset to the fiat currency system. If politicians were honest with their people, and the bankers had been willing to take losses for the good of all, then maybe we could have preserved the wealth of the worlds middle-classes.

Now this seems doomed. New money is going straight to the top and will flow down through the system as inflation and a wealth distroyer. The middle-class worldwide is being blatantly stolen from. But the sad thing is, they don't know it. Yet.

Gold in New Zealand dollars: $2267.45 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)

Silver in New Zealand dollars: $42.54 per oz
Previous all-time high: $59.19
per oz (30 Apr, 2011)

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