"The big fat elephant which remains in the room is that there is no way for the United States and most of the Eurozone to escape the bottomless pit of debt which binds their currencies.
The only way for them to get out is through currency reform, and the question is not if but when currency reform is to occur. "
Absolutely true.
And the bad news is that the bigger the elephant gets - the less people see it and the more they just accept that it is there - a fixture.
The biggest problem the world has is elephant filling rooms - a very big flaw in human psychology.
As these elephant grow - the problem is really, they need to take a crap.
For a while you can get away with it - elephants are good at holding it all together.
The problem really is that the problem grows with the elephant -- as the urgency grows, the elephant gets restless - and when - finally the elephant just HAS to dump - it does one of two things.
It has a mammoth dump ------------ or, worse still, it just explodes.
Debt and some instruments are now HUGE elephants - if one bursts, it will take the others with it just from the shock.
imo, the way it is going we will have a major blow up - I cannot see that anyone can pull together what is basically a global package to avoid this.
After all - Europe can't even save Europe. And an even worse example is that the USA can't even save the USA - and they are a single nation.
so, globally - what chance have we got? Zero.
We will have a forced reset - probably the biggest in history I suspect ---------- when though? always bloody when?
Look to history to see where the safe ground is.
have a great day all
Pinto
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