And a Happy and Prosperous New Year to you, too, even as we watch the implosion of the current financial system.
Let's continue to do what we can to teach, enlighten, and support all those who are near and dear to us (i.e., all of humanity, give or take a few scummy banksters and fraudsters). That will definitely be necessary in these gloomy times.
I take it you are not a big believer in the ability of Central Bankers and Politicians to provide long term value to Fiat Currencies?!? Have you read Ben Bernanke's interesting speech on the power of the printing press and low interest rates as tools to save fiat currency? Here are some excerpts >
"But suppose that, despite all precautions, deflation were to take hold in the U.S. economy and, moreover, that the Fed's policy instrument--the federal funds rate--were to fall to zero. What then"
"the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services."
Yes, I think I've read that before, or maybe seen a similar video clip.
Clearly, the asylum is being run by the inmates. For decades now, they've been blowing bubbles, creating illusory wealth, then extracting that wealth.
Each time, the bubble gets bigger and the collapse results in greater losses. And here comes another crash ...
yes, sadly the Titanic has already hit the iceberg and it is only the 'going where no man has gone before' approach of the Central Bankers to lower interest rates to 0% and beyond and to flood the countries with massive paper money drops that has kept it afloat this long.
sadly, in my humble opinion, just like before, there are no rescue ships near enough and big enough to rescue all the passengers and crew of the Titanic.