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How The USA Turned The Global Reserve Currency Into A Ponzi Scheme

Read about the disaster before it happens as the US Federal Exchange, The Bank For International Settlements and the International Monetary Fund prepare to trash yoiur savings and pension fund, enslave your children and destroy wetern civilization in pursuit of the gloal, golobal fascism. Contact us:

How The USA Turned The Global Reserve Currency Into A Ponzi Scheme

by Phil T Looker

My Colleagues and I on The Daily Stirrer team have wriiten many times of how abouse the fractional reserve banking system and the use of ENRON style accounting (entering a debt in the balanche sheet in a way that makes it look like an asset and then using that phoney asset as collateral against whicg to secure another debt) turned the global economy into a gigantic Ponzi scheme. At the heart of this was the government and the banking community of the USA.

Debt was used to maintain an illusion of growth in the US economy and as long as the US government and bankers could create more money by increasing the overall burden of debt, the illusion could be maintained and the bubble kept in the air.

Inevitably it all went wrong and all the spin from Washington, from the economics academics and from the media could not stop the collapse.

Read an excellent analysis of how the economic bubble burst and why all the attempts to reinflate it are futile.



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