Economics

One for the weekend: Jim Rickards discusses $100 trillion dollars worth of new debt designed to solve fiat currency problem

The upcoming world power elite meeting at Davos will decide that the debt slaves of the world who fund their riches need to be nailed down further with another $100 trillion dollars worth of debt. Or so says Jim Rickards, in an intriguing new interview with King World News, which amongst other things also discusses Alan Greenspan’s post-Fed views on fiat currencies:

Rickards believes that the mechanism for generating another $100 trillion of debt will be based upon the SDR (Special Drawing Rights) paper ‘currency’ of the IMF, the primary financial excrescence of this unaccountable Davos power elite.

You can read the summary World Economic Forum (WEF) report below:

You can read the full WEF report below, in PDF format:

Or via Scribd:

More Credit with Fewer Crises 2011

3 comments to One for the weekend: Jim Rickards discusses $100 trillion dollars worth of new debt designed to solve fiat currency problem

  • waramess

    If they would stop inflating the currencies there would be little need for this nonsense of printing more paper but then I suppose there would be little need for their opinions and they would need to push off and find proper jobs

  • [...] might remember a post, a month or two back, about the Davos plan to flood the world with $100 trillion dollars of new [...]

  • FCM

    These geniuses want approximately half a million dollars for each euro-american household? Are they taking into account the effect of debts on each country? What about the effect on the planet – natural resources? Global warming? Health?
    No wonder we are in such good shape – these guys have been around for a long time…TOO LONG.