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Jim C.
Member since May 2012
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Money Worries

- James Howard Kunstler -

Well, for once, I'm going to go thumbs up on Kunstler's article this week. He stuck to the facts of the Cyprus money grab and its dire implications without using it as a pretex to damn civilization in general. Perhaps his medical stay, and the wonders of modern technology, has altered his mindset. Who knows?

In any event, just as the financial world was thinking the Cyprus agreement was to be localized, the Dutch EU member (his name sounds like Diesel-boom) announced it as a "template" for future problems. The world 'Template', meaning theft in this case, has scared the hell out of European deposit holders -- as well it should.

And thus may the financial world end with a "boom" not a bang.

Commented 4196 days ago

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Beginning of the headline :Of course, everybody should have been worried a lot sooner than last week because the basic operating system of global banking is accounting fraud, and has become that stealthily, insidiously, for about fifteen years now. Nothing is what it appears to be anymore. Compound interest has not really been working since 2008 because the world can't increase its energy production enough to generate the additional surplus wealth needed to cover the aggregate interest due all around the world. Wh... Read More

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