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Thursday, June 3, 2010

The World Economic Collapse Explained In Under 3 Minutes!

Believe it or not, the world economic crisis actually does encompass more than just your immediate household income. Unfortunately, your personal economic crisis is the only one you can do anything about... and there's really nothing you can do about it. So, how did we get into this mess, and exactly what is the "mess" that we are in?

Okay, there's nothing up my sleeves, and I have here in front of you three walnut shells and one pea. Your job is to keep your eye on the pea... and here we go!

video
Did I just see one of those cartoon light bulbs above your head... or are you totally confused now? Does the procedure they explained sound familiar to you? The International Monetary Fund is nothing more than a clearing house for meaningless paper. The entire world seems to have entered into an informal, unstated agreement to accept IOU's as negotiable currency.

What is the main cause of Europe's financial crisis? The single currency called the "euro". Yes, it was convenient to be able to travel though out most of Europe without having to worry about exchange rates, without having to deal with multiple unfamiliar currencies or having to do currency conversions in your head to insure you weren't being ripped off. The euro was initially used for non-cash transactions between banks. Personally, I was surprised the euro stayed strong for as long as it did. It was a good thing there were a few fairly healthy economies involved from the outset, or the euro wouldn't have survived my 18 month expectation. In fact, in September of 2000, the European Central Bank (ECB) had to intervene to prop up the failing euro, which had lost 30% of it's value in less than 20 months. In January of 2002 the first euro banknotes and coins were released to the 12 participating European Union nations for use as currency, and by March 1st, 2002 the euro was the only legal tender in those 12 countries. The EU has since increased to a total of 15 member nations.

What do those nations have in common - other than financial hard times? They are socialist countries. As laughable as the comedy routine above may be, it is an accurate representation of just how the world is responding to this financial crisis. And, as long as the banks of the world are in agreement on the process, it can continue - and possibly even be successful. Why? Because "currency" is what "we" determine it to be. Currency has only the value which we assign to it, whether it has intrinsic value or not. One society used rocks with holes drilled in them as currency, another used woodpecker scalps, and another used porpoise teeth as their medium of exchange for goods and services.

For some strange reason, our current one-term President seems to admire the way the Europeans do things, and desires to remake the United States in their image - the type of governance against which our forefathers and founders fought in order to to extricate themselves from under the rule of tyranny. Our Constitution was designed in such a way as to insure our sovereignty and our God-given rights and freedoms were protected.

As the poet Dylan Thomas once wrote:
"Do not go gentle into that good night.
Rage
, rage against the dying of the light."

In our case, the light that is dying is from the lamp of freedom, and those that would extinguish it are among us!
The freedoms that are worth fighting for are the same freedoms that make it easy for those who would do our nation harm.

2 comments:

Krista said...

Guess I'll hold on to my Aussie Dollars and Pesos. Got $10k I can borrow?

Gil said...

Ummmm... NO?