More Than Just PIIGS in Trouble

Anyone willing to take their head out of their WSJ will have to admit that we are in a multi-year global debt crisis. Debt equals risk. Every part of the system is loaded down with too much debt created by a fractional reserve banking system and undisciplined, unaccountable central bankers. Fiat currencies themselves are ponzi schemes that sponsor booms and busts, the timing of which is far more dependent on faith and perception rather than a strict relationship between currency inflation and price inflation.
Hungary turns to IMF as stress mounts in Eastern Europe – Telegraph:: www.telegraph.co.uk/finance/financialcrisis/890547….html

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