Ireland has his bailout against the will of the people. At 6.75 percent interest.
Let's see what a critic has to say about that:
what he says about China and other countries that want to stop using the dollar as the world currency and most of all, don't want to keep supporting the failed US consuming economy, will pour down through the rest of the world.
Now that the US agreed to back out of Afghanistan, they are preparing a new 'intervention' in Asia. China will have to respond to the entering of a aircraft carrier in the Yellow sea.
But the US could, diplomatically, also mention to China that if they don't back up the US currency they will turn up the heat on North Korea, with the result that China will have to take in refugees. Something they are not willing to do. Because it will mean a collapse of North Korea.
Having the vultures of the IMF getting a grip on Ireland and having them slowly destroy the Euro, as Max Keiser suggests, will have an interesting effect on the world currencies.
I don't think the US wants to create a new Korean war. But having announced to wind down the Afghan mission and now showing their muscles in Korea is a nice way of keeping the dollars floating into the coffers of the defence industry.
Something that we all know is a bottomless pit that burdens the world economy. The only way to keep the US afloat is by printing more dollars, making the currency worth less and less or by increasing the inflation. Conspiracy theorists will see all of this as a marking to a new world currency and the new world order.
This is an older report from 2008 about the beginning of the crisis where a couple of points are made:
(1) I am doubtful of the Fed's ability to alter interest rate spreads through the kinds of compositional changes in its balance sheet implemented over the last two years. Whatever your prior ideas were about this, surely it's time to revise those in light of incoming data-- if the first trillion dollars didn't do the job, how much do you think it would take to accomplish the task?
(2) I think the Fed's goal should be a 3% inflation rate. Paying interest on reserves and encouraging banks to hoard them is inconsistent with that objective, as would be a new trillion dollars in money creation.
As we can see point one was taken and ended up in an influx in dollars on the market. Devaluing the dollar rapidity:
The full article behind this graph is interesting as well.
So what we have is an interesting mix that could not only bring the end to the Euro but also the dollar, that in it current form, is becoming increasingly unstable.
China will be the only country that could make a change and in that light the Korean conflict brings an interesting extra dimension.
Of course we can also follow Cantona's proposal on the 7th of December:
This article keeps bugging me, as I can't find any sources that back that story up. And if there are, it's hidden in heavy economic or lawyer lingo I can't seem to fully grasp.
And when pseudo economic analysts start stirring things up, we could be in for a roller-coaster ride. Especially if we follow that seigniorage link and Cantona mentioned above.
Maybe I'm the only one that likes those rides, because the alternative: walking slowly towards the end of a cliff sounds less interesting.
In the end we will always keep two things: Labour and resources. And as long as there are people on this planet those things will not disappear. With or without economics, with or without money, those things will keep existing. Maybe it's time for a revolution like a resource based economy and stepping away from greed and capitalism.
Let me finish of with a few words from my hero Bill Hicks:
Here's what we can do to change the world, right now, to a better ride. Take all that money we spend on weapons and defenses each year and instead spend it feeding and clothing and educating the poor of the world, which it would pay for many times over, not one human being excluded, and we could explore space, together, both inner and outer, forever, in peace.