Forum Post: European Debt Crisis Threatens the Dollar
Posted 13 years ago on Nov. 18, 2011, 8:38 p.m. EST by yoccupy
(9)
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"The most disingenuous aspect of the narrative about the European sovereign debt crisis is that entire economies will collapse if more resources are not bilked from productive people around the world. This is untrue. Tough times are coming for the banks, to be sure, but free people always find a way back to prosperity if the politicians leave them alone. Communities within Greece are coming together and forming barter systems because they know the Euro is becoming unstable. Greeks are learning how to engage in commerce with each other, WITHOUT THE USE OF FIAT CURRENCY controlled by central banks. "
-yoccupy
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Would you like to return to a barter system? I'll give you half an apple for your common sense.
It doesn't threaten the dollar, it threatens a new banking crisis and a severe contraction in credit and a resulting deep recession. It isn't about fiat currency, it's about some really big debtors (European countries) defaulting.
And who know what credit default swaps and other manifestations of our over leveraged deregulated mess of a banking "system" are out there. MF global down, who's next?
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