The death of the Dollar
Joe Djemal | 22.03.2005 15:12 | Analysis | London
The global financial system is in it's endgame.
This is fundamentally down to geophysical reality in that all economies boil down to energy and the current economic system needs perpetual growth to continue existing.
This is fundamentally down to geophysical reality in that all economies boil down to energy and the current economic system needs perpetual growth to continue existing.
The global economy is about to crash. The implications are enormous and will be devastating to all the peoples of the world. This is being kept secret from the British people by our government and the corporate media who are terrified of the consequences.
The problem is oil. Demand is just at the point where it outstrips supply and that means that the economy will start to contract. Imagine the 1929 crash on steroids with no recovery in sight. The global banking system is based on fractional reserve banking that means that there is always more money out in loans than they actually have in reserves. It requires endless growth to function and in a real physical system that model is impossible.
Most economists forget that the world economy has a base in physical reality. It will not survive the beginnings of contraction.
The first crack has already appeared.
http://www.kitco.com/ind/Hommel/printerfriendly/mar182005p.html
I suspect we have as little as 12-18 months before the Dollar goes into it's final decline losing up to 90% of it's value.
I urge you to go out and buy vegetable seeds. they will be the thing in most short supply after the crash (That happened in Argentina, the people there had to go to Brazil for their seeds). You will find information at places like http://www.journeytoforever.org to assist you in managing the disaster.
We must lobby the government to initiate a crash program in sustainability AT ONCE. We must also lobby them not to follow the US into it's zero sum showdown with China.
(See the accompanying pdf)
The problem is oil. Demand is just at the point where it outstrips supply and that means that the economy will start to contract. Imagine the 1929 crash on steroids with no recovery in sight. The global banking system is based on fractional reserve banking that means that there is always more money out in loans than they actually have in reserves. It requires endless growth to function and in a real physical system that model is impossible.
Most economists forget that the world economy has a base in physical reality. It will not survive the beginnings of contraction.
The first crack has already appeared.
http://www.kitco.com/ind/Hommel/printerfriendly/mar182005p.html I suspect we have as little as 12-18 months before the Dollar goes into it's final decline losing up to 90% of it's value.
I urge you to go out and buy vegetable seeds. they will be the thing in most short supply after the crash (That happened in Argentina, the people there had to go to Brazil for their seeds). You will find information at places like
http://www.journeytoforever.org to assist you in managing the disaster. We must lobby the government to initiate a crash program in sustainability AT ONCE. We must also lobby them not to follow the US into it's zero sum showdown with China.
(See the accompanying pdf)
Joe Djemal
e-mail:
joe@good1.com
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