“Creating money and credit simply creates more claims on existing real-world resources–it doesn’t create new wealth or resources. When those claims vastly exceed the underlying wealth/resources, the system of credit and currency claims will implode. Borrowing and printing $10 trillion hasn’t fixed anything; it has only raised the reservoir of risk to the top of the dam. Cracks are opening as the pressure builds, and we should not be surprised when risk and consequence reconnect and the dam gives way.”
http://charleshughsmith.blogspot.com/2013/08/the-grand-experiment-part-2-unlimited.html
Related posts:
The Logic of the Police State
The Fiscal Cliff's Structural Endgame
Without a Shot
Larken Rose: "It Can't Happen Here!"
On Escaping from Prison
Bill Bonner: Turning Argentine...
Bitcoin Is Not Surging, 'Going Ballistic' Or 'Going On An Astronomical Tear'
Nasser Al-Awlaki: The Drone That Killed My Grandson
Khan Academy's Challenge to State-Certified Educators
Government Spying Has Always Focused On Crushing Dissent … Not On Keeping Us Safe
The Most Awesomest War Ever! [2003]
War Is a Certainty
Jimmy Carter: U.S. Has ‘A Cruel and Unusual Record’
Privacy in the Face of NSA Abuse
4 Ways Living Abroad Can Give You More Freedom