This McAlvany podcast interview is a must: Bill King Interview: Europe is the Detonator – The U.S. is the Bomb. King points to the collapse of socialism in western countries as the core of the collapse that started in 2009, and derivatives as the biggest risk.
Reader Stephen M. mentioned that The Economic Collapse blog posted a good summary of the US national debt situation. Here is a key quote: “If we do raise the debt ceiling, that will ‘kick the can down the road’ a little bit farther. However, world financial markets will still crash eventually and our eventual economic nightmare will be even worse. Well, can’t we just ‘inflate our way’ out of debt? No, unfortunately things are just not that easy. If we try to inflate our way out of debt, interest rates will likely rise just as quickly as inflation does, and that would be absolutely catastrophic.”
The Daily Bell reports: Federal Reserve ‘Embeds’ Employees in Banks
Items from The Economatrix: