Comments: A Trillion Here, A Trillion There. Pretty Soon You're Talking About No Money
Why do we always miss the obvious? What cannot be paid will not be paid, and that has always been so. When the fact of historic credibility meets historic insolvency the credibility belongs to insolvency.
Popular Delusions and the Madness of Crowds (1845) has added several chapters, and is about to record a whopper.
Posted by james wilson at November 14, 2012 11:11 AM
The piece to this issue that never gets discussed:
If all the Countries on earth are drowning in debt, to whom do they owe it?
Where did the Banks get all the money to lend?
The Central Banks
Where did the Central Banks get the money to give to the Banks?
They created it out of thin air?
Who gave them the ability to do that?
Posted by Bill Jones at November 14, 2012 3:32 PM