Fiat Currency — Going, Going Gone

Few people understand what is happening and about to happen. One of these is Chris Martenson who foresaw the crisis, adjusted his lifestyle completely in advance of it and has been explaining what is happening to others. His diagnoses have been accurate and his recommendations for personal security and safety invaluable to thousands.

Mr. Martenson has written an important new piece regarding where we are now. I recommend it highly. Here is the beginning of his article:

There are clear signs of a liquidity crunch in the asset markets right now, and the question I keep hearing is, Is this 2008 all over again?

No, it’s worse. Much worse.

In 2008 there was a lot more faith and optimism upon which to draw. But both have been squandered to significant degrees by feckless regulators and authorities who failed to properly address any of the root causes of the first crisis even as they slathered layer after layer of thin-air money over many of the symptoms.

Anyone who has paid attention knows that those “magic potions” proved to be anything but. Not only are the root causes still with us (too much debt, vast regional financial imbalances, and high energy prices), but they have actually grown worse the entire time.