This is a great cartoon by William Warren from GetLiberty.Org. This cartoon perfectly depicts what is happening to the global economy. Greece and Ireland has collapsed and we await for the next member of the European Union to fall for taking too much debt. This domino effect come from one of the major downside to the fiat currency system, which is the ability to print money out of thin air.
In a world dominated by printing presses and central banks, most currencies are losing value everyday. This is the case for the Euro and U.S. Dollar. The Federal Reserve and European Union are committed to print their way out of this so-called “recession”. Even Bernanke is not afraid to pull the trigger on quantitative easing (aka money printing and/or expansion of the money suppy) again. As for Europe, there is no question Greece will have to default on their debt. They just passed a $40 billion austerity package (austerity is just another word for “the common people are getting screwed”) with spending cuts and tax increases. In return, they hope to receive another bailout to keep the country functioning by paying off existing debt.
The situtation in Greece sound familiar, doesn’ t it? The U.S. government is in the same predicament as Greece. Right now, you got those clowns in Capitol Hill trying to negotiate spending cuts and tax increases so that they can continue to devalue the dollar and increase the burden on the U.S. taxpayers with more debt. The mainstream media is doing a great job distracting Main Street from the hidden truth, we are in a debt crisis too.
The truth is that even if we raise the rate rate to 100 percent it’s still not enough to pay off the debt. The truth is the real U.S. debt is over $60 trillion. The government decided to leave out money they will owe from the entitlement programs. That figure alone is why the clowns need to stop the discussion on raising the debt limit and start talking about restructing the debt or worse, default.
