TCC Senior Fellow, Detlev Schlichter, appeared on Russia Today with Max Keiser to talk about the coming monetary breakdown and the likely monetary repression and manipulation that governments around the world will try to put in place to avert the inevitable crisis that they created in the first place.
Summing up the present crisis:
We are in this mess because for 20-30 years whenever the economy rolled over we lowered interest rates and printed more money. The reason why banks are overstretched, why governments are highly indebted all around the world is because we always stimulate our economy by providing it with cheap money again.
Gold would be good, of course, but banks could compete with their own fiat currencies, leaving us to decide what we want.
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