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by Michael Many people hype “the coming economic collapse” as if it is some kind of big summer Hollywood blockbuster. Many people out there write about it as if it is something that will happen in a single day or over a few weeks and that it will suddenly change how the entire world functions. But that is not how the financial world works. The financial world is like a game [...] WELLINGTON, New Zealand (AP) — There were no Scooby snacks to eat – but at least they had each other for company. Two goldfish, named Shaggy and Daphne after characters from the animated television show Scooby Doo, have become the smallest and hardiest survivors of the devastating February earthquake in Christchurch that killed 181 people. The fish spent four and a half months [...] We have a fractional reserve banking system that uses a fiat currency as a means of exchange. We knew it was “safe” at about 12:1 but we maxed out the card and shot our wad at somewhere between 30-to-100:1. Now the system is reverting to 12:1. That means only one thing – America’s standard of living will decrease to some unknown point. The only thing worth discussing [...] |
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