"EU on the Brink of Economic Armaggeddon!"

[catmax]

I found this to be an interesting read. World economics? Where not the only ones that need this RV.

http://alamongordo.com/articles/

[PD46]

I need to get on my soap box for a moment after reading this. In my 24 years of banking and finance, I have to say this at this moment.

If I offend you, then just know this is my opinion; not yours. Perhaps you shouldn't read.

Read the article first and think!!! Good article and troubling to say the least. The reality is that article is not really off target; instead it is spot on.

The world has been held up by fiat currencies far too long. Who would have imagined the Chinese downgrading countries credit ratings.

Without a precious, tradable resource(s) to peg a currency, then a currency is basically worthless. The Chinese have been gathering oil, gold, silver, platinum, cooper, ore, natural gas; and anything else within reach for 10 years now. I wonder why; and yet I know why, as do all Austrian Economists. Keynesian economists don't get it and never will. Without a 'true' free market away from government regulations and interference, a nation can not grow and develop naturally. Central Government planning doesn't work folks. Without 'real' and 'true' industry, a country has no way to create greatness and wealth from within; and that is how we became great.

We have no true, real industry, a backed currency, and a free market system; so we are no longer seperate and greater than the world.

That aritcle is a very clear indication for anyone following GURU NON-SENSE; that an Iraqi Dinar RV has nothing to do with some master plan to save the planet from its fiat currency nightmare. We, as a world, are on the fast road to a global financial collapse and global depression. The United States is no longer a Republic, but instead a Imperial Socialists Democracy. Empires and Democracys always end with war; of which unfortunately, an Empire or Democracy has never survived.

For the liberals, socialists, communists, and progressives who read this, I have one question for them to ask themselves. What has any hard working person (American) done to become indebted to another person (American), in which he/she has absolutely no connection; to the ends that his own hard earned money would be confiscated from him/her by a Federal, Imperial government and given to someone else that he/she owes nothing in the form of entitlement payments; i.e. welfare, disability, etc? Without hard work, there is no true reward in life. What ever happened to saving money and living within ones means? Unfortunately, American has lost that reality and become a social welfare system; in which 48.7% of the population now gets an entitlement payment and pays nothing into the system; i.e. taxes, etc. Why are these people allowed to vote and participate in a system they pay nothing into? Since when did the US governement become a charitable, welfare agency? Where in the Constitution does it say that is the responsibility of the government? This is the problem throughout all of Europe and most of the world.

The only man or woman I owe anything to are the brave men and women of our courageous military who live, fight, and die to protect what few freedoms I have left afforded to me. Our military is sent to God-forsaken places on this planet where no one should ever have to go to fight those who hate the US and its people. Sending our brave troops and sending countries who hate us money needs to stop also. Missles and predator drones can take care of business and send them back to permenant third world status.

We may be 10 years off from this, and I pray it never happens; but one never knows.

We will all probably get to watch Europe implode first and then explode across the globe in a financial collapse to revival 1929/1930.

I pray we are spared in the United States. I encourage everyone to get right with your Creator & Savior.

I am getting off of my soap box now.

I apologize for not saying in the beginning....... thanks for the link and post catmax.

Edited July 16, 2011 by PD46