by Bill Holter, MilesFranklin.com:
Imagine that 2 weeks ago you were a Cypriot and faced losing some or all of your bank balances. What would you have thought? I ask you this question because chances are… you are not a Cypriot and you haven’t had your life savings “locked up” …yet. You see, whether you know it or want to believe it, we will all be “Cypriots” sooner or later. Pooh pooh me, stick your head in the sand or send me nasty e-mails, MATHEMATICALLY the entire world WILL become Cyprus sooner or later. Mathematically we are on a crash course with a global debt/currency crisis of epic proportions.
And I know this how? Simple, use a little street logic with basic math and read HISTORY. History is full of episodes where “paper money” caused the complete ruin of societies since the beginning of time. Jim Sinclair posted yesterday a writing about the hyperinflationary aftermath of the French Revolution. Andrew D. White wrote this in 1912:
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