A currency collapse is the total wipeout of debt denominated in that currency.
Argentina’s central planners have pursued a slew of defunct monetary policies of the Keynesian, Monetarist and Mercantilist variety. Repeated default is the fruit of that labor.
In this piece we seek to provide a truer sense of money, inflation and real value today, all of which seem grossly misunderstood in the marketplace.
We argue that indebted governments have ceded power to banking systems without conscience or public accountability.
Has the Link been Broken?
Paul Brodsky thinks our credit system is so far out of control that it will cause a massive – and largely unavoidable at this point – devaluation of the US dollar (and most other fiat currencies, as well).
The Greeks gathering in Syntagma Square seem to need no culture shock to reject their Socialist government’s cave-in to European bankers. It looks like they may follow Iceland in leading the ideological pendulum back toward a classical awareness that in practice, this rhetoric turns out to be a junk economics favorable to banks and global creditors.