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Financial news I consider important, with my opinion, which is worth as much as you paid for it.
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Wednesday, August 17, 2011

Fundamental Global Currency Sickness

Jim Grant does a great job of explaining the crux of the global currency sickness, and that is the US government has sole control of money creation, as the world reserve currency. There is no check and balance in the system. The video is a great view of the currency problems, and debt problems, with ONE exception. I completely disagree with a gold standard.
I am starting to get concerned that these gold bugs will be heard in the global fiat crisis ahead. A gold standard will produce worse economic issues than the current system over time.

I'll create a post directly attacking the gold standard later. You can get a glimpse by reading my series starting with "What is money".

Jim Grant Interview was mid July, notice he was right about pushing out dealing with the US debt crisis.

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