Friday, July 29, 2011

Making Sense of the Global Financial Crisis

Guy de Fontgalland

For many, the global financial crisis and the meltdown in value of money and wealth, the increasing shortage of funds in government treasuries, banks and corporate coffers, the bailouts of Ireland, Portugal, Spain and Greece, with the possibility of the United States defaulting on its treasury bonds interest rate payments over one trillion dollars to China alone, is nothing short of mystery.
Nigel Farage, UK’s firebrand independent politician with a seat in the European Parliament has been calling for the death of the euro zone, claiming that it is a menace to the global financial system. Peter Schiff, CEO and chief global strategist of Euro Pacific Capital has been predicting the coming financial and economic collapse as far back as 2006 and 2007. Most dismissed his arguments as baseless and . . . . . .

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